Date: May 30, 2018

Top 5 Strategies for Treasury to Protect against Payment Fraud (I)

Session Description

Fraud & Cybercrime are becoming the biggest threat to CFOs and Treasurers, with new threats and schemes being reported almost daily. The AFP's latest survey indicates that 74% of corporates have been targeted and 34% have reported loss of funds due to payments fraud. In this session, key practitioners will review the leading practices implemented to ensure that your organization is not low hanging fruit for fraudsters and cybercriminals.

Key topics include:

The latest and scariest fraud schemes

Using more than just UserIDs and Passwords

How to standardize payment controls

The right and wrong way to implement payment screening

What does your IT team want you to do?

Speaker Information

Jason Dobbs has extensive experience in treasury. He has been able to bring new liquidity structures and technology solutions to clients. He has presented innovative solutions to various corporate executives before implementation and has rolled out these solutions around the globe by gaining the support of regional heads and training financial directors. Through system implementations, rollouts and his continuous support for the systems, Jason has gained excellent communication and relationship building skills. 

Jason has a B.A. in Finance and Information Systems from The Fordham University, Gabelli School of Business.

Sam Pallotta is Vice President & Treasurer for the Rockefeller Group. His primary responsibilities are to manage the Treasury Department, including global cash management, cash forecasting and capital market transactions. Sam helps to define the company's long-term capital structure and align the company's financing capability to its business plan. He works with lender to raise required corporate and project-level financing. As a member of the Strategic & Capital Planning group, he partners with senior management and colleagues across the organization on key strategic initiatives including capital allocation and evaluation of prospective investments. Sam joined the company as Assistant Treasurer in August 2007 and was named Treasurer later that year.

Before joining the Rockefeller Group, Sam held various positions within General Motors' Treasury Department, including Manager of the Overseas Finance and Worldwide Pension Funding. He was part of a GM team that raised $17.9 billion in 2003, at the time the largest debt offering in history. Earlier, he worked for Johnson & Johnson as a Senior Brand Analyst and as a Financial Analyst. His first position was as a Research Analyst, Mergers and Acquisitions, for Securities Data Co.

Sam holds a BS in Business Administration from Bucknell University and an MBA from the University of Virginia.

Timothy Hesler is Assistant Treasurer, Global Banking, Cash Management and Treasury Operations for New York University (NYU) where he is responsible for banking, cash management, investments, working capital and payment initiatives, short term debt, foreign exchange and global payment card programs.  NYU is the largest private university with 18 schools, 11 worldwide sites and 2 global campuses in Shanghai and Abu Dhabi.  Tim is also the President of the Pinnacle Consortium of Higher Education captive insurance company in Burlington, VT, owned by 17 universities. 

Tim was a Senior Expert in the Corporate Finance Strategy practice at McKinsey and Company, focusing on corporate treasury and financial risk before affiliating as a Senior External Advisor to the firm.   At McKinsey, Tim worked with senior clients in the US, Latin America and Europe on a variety of Treasury engagements including overall Treasury organization design and transformation, cash management, banking rationalization, foreign exchange hedging and cash flow forecasting. Prior to McKinsey, Tim has substantial experience over 12 years leading finance transformation and corporate treasury advisory engagements across numerous industries for multinational clients as Director, Treasury and Risk, for both PricewaterhouseCoopers and KPMG.  Tim provided subject matter knowledge and guidance to client Treasurers and CFOs.  Prior to his time in professional services, he also worked in the corporate treasury department for Novartis performing many different functions in treasury and corporate finance. 

He is a frequent speaker at industry conferences and has authored numerous articles on treasury management.  Tim is a Certified Treasury Professional (CTP) and holds a B.S. in Electrical Engineering from Union College, and an M.B.A. in Finance from Columbia University. Tim is the Chairman of the AFP's Body of Knowledge Committee and on the Advisory Board for TMI USA magazine.  Tim has been the President of the Treasury Management Association of New York (TMANY) Chairman of NY Cash Exchange for five years.