Dow Corning Corporation has selected the IT2 treasury management system (TMS) to support its cash, treasury and financial risk management operations in the US and overseas. The system solution will address Dow Corning treasury’s central business issues, including cash and liquidity management (with cash forecasting), financial asset investments, straight-through processing (STP) settlement and payments processing, in-house banking, multilateral netting, foreign exchange (FX) hedging, financing and funding.
The IT2 solution will also support leasing, trade finance via letters of credit (LCs) and guarantees, treasury accounting and hedge accounting, with an interface to the SAP General Ledger, and support for FAS 133 Hedge Accounting and FAS 157 Fair Value Measurements. The system will generate the required operational and management reporting, and will provide the necessary Sarbanes-Oxley (SOX) controls and documentation.
Jan Hjalber, Dow Corning vice president and corporate treasurer, said: “Dow Corning selected IT2 because it offers a comprehensive solution that will fully support treasury’s priority business objectives.”
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.