Search
 
Alexander Hamilton Awards

Innovation in Operational Risk Management

The 2017 Alexander Hamilton Awards in Operational Risk Management & Insurance recognize three initiatives that raised the bar in creative thinking—and reaped the benefits.

The word “creative” can sometimes have negative connotations in corporate finance and risk management functions. In many of those departments’ areas of responsibility, following the rules is mandatory. Looking for “creative” solutions may be seen to entail skirting those rules.

That said, companies must innovate to stay competitive in the age of globalization and the Internet. Standing still is not an option. That may seem obvious in sales, marketing, and customer service, but it’s equally true for internal-facing groups such as finance and risk management. To optimally support the business, finance and risk teams need to think outside the box as a matter of routine. That’s a best practice exemplified by this year’s winners of the Alexander Hamilton Awards in Operational Risk Management & Insurance.

For Microsoft, creativity in treasury is a treasured tradition—and one that proved valuable when the company needed to find a new way of reconciling its internal books with the data in its European Market Infrastructure Regulation (EMIR) trade repository. No purpose-built solution was available on the market, so initially senior treasury manager Eric Barka began performing reconciliations manually using spreadsheets. The process was extremely time-consuming, so Barka began looking for a better way.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Meg Waters

Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.

More from this author

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.