BETHESDA, Md., Aug. 23, 2016 /PRNewswire/ -- Hyundai Capital
America, Intellectual Ventures and World Vision International are
finalists for the Association for Financial Professionals 2016
Pinnacle Award. Sponsored by Wells Fargo & Company (NYSE:WFC),
the Pinnacle Award, established in 1997, recognizes excellence in
treasury and finance.
Finalists were selected based on their innovative solutions that
helped their treasury and finance operations run more efficiently
and effectively. The AFP Pinnacle grand prize winner will be
announced October 23 at the AFP
Annual Conference in Orlando,
Florida.
Wells Fargo will make a
$10,000 donation to a charity of the
grand prize winner's choice. David
Trotter, executive vice president and head of Treasury
Management Sales and Implementation at Wells Fargo along with AFP
are hosting the event.
"AFP is pleased to honor the 2016 Pinnacle Award finalists,"
Kaitz said. "The treasury and finance groups at Hyundai Capital
America, Intellectual Ventures and World Vision International truly
set the global standard for their peers and their profession."
"At Wells Fargo, we have the privilege of witnessing firsthand
how the industry continues to evolve and develop innovative
solutions that drive us and businesses forward," said Trotter. "The
knowledge, experience, and expertise displayed by these finalists
is a great example for all of us, and we're thrilled to honor
them."
After incredibly rapid growth over the last 5 years, Hyundai
Capital America's entry showcased its improved cash and liquidity
forecasting model to better understand its daily cash requirements
ranging from $50 million to $1.5
billion. HCA's new automated AI like model includes metrics,
stress tests, variance reporting, and the ability to make funding
decisions automatically. The model positively impacted HCA's
P&L with lower interest expense, reduced overtime and enhanced
ability to focus on strategic execution.
Intellectual Ventures, an intellectual-property licensing firm,
built a market for invention that allows buyers, sellers and
inventors to realize value for their ideas. IV's treasury team
created a new asset class in the debt capital markets dedicated to
the monetization of technology-related patent royalties. The team
successfully securitized IV's fixed licensing royalty receivables,
which accelerated the return of cash to investors and reduced the
company's counterparty credit risk.
World Vision International was challenged by a decentralized
organizational structure that made it difficult to implement and
oversee a robust treasury function. As a result, WVI's treasury was
unable to forecast with a reasonable degree of certainty or manage
cash and risk effectively. WVI addressed its issues by deploying to
the field internally developed and scalable cloud-based cash
management tools, and simplifying bank relationships and account
structures.
For more information in attending the AFP Annual Conference,
October 23-26 in Orlando, please visit
http://www.an16.afponline.org.
ABOUT AFP®
Headquartered outside Washington,
D.C., the Association for Financial Professionals (AFP) is
the professional society that represents finance executives
globally. AFP established and administers the Certified Treasury
Professional and Certified Corporate FP&A Professional
credentials, which set standards of excellence in finance. The
quarterly AFP Corporate Cash Indicators serve as a bellwether of
economic growth. The AFP Annual Conference is the largest
networking event for corporate finance professionals in the
world.
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SOURCE Association for Financial Professionals