2010 is in full swing and it is getting more and more interesting by each day.  The last year was adventurous and the current one is no less exciting.   We are still experiencing the bank failures, the fraud scandals, the real estate market fiascos, but it is no longer as new and exciting as the iPad that came out a few weeks ago (it is awesome, by the way).  Although getting used to the constant turmoil is an experience, as people, we all want to be in equilibrium. That is why I am looking forward to the EXPO 2010 in just a few short weeks. It will give all of us a chance to not only listen to the industry experts, to  acquire additional knowledge about new industry products, to communicate with fellow professionals, but it will also give us an opportunity to be in a supportive environment of like minded individuals. It will give all of us an opportunity to reconnect with old friends and to establish new contacts.   Short of imagining the Avatar bonding experience, the EXPO will be the time to draw strength from each other and to face the uncertain future with a positive attitude. 

I am looking forward to seeing all of you at the EXPO. Let’s make it a fun one!

Zoya Lieberman, CTP, MBA

President, SCAFP

The earlier settlement, which applies only to ACH debits stemming from check conversions and from consumer transactions originating on the phone and on the Internet, represents the first change in the ACH network’s settlement windows in 35 years. Under the plan, deposits made by 2 p.m. will be settled by the close of business that day, following a routine that already exists for returned transactions, rather than the next day.

The new window is voluntary, allowing financial institutions to opt in to use it. The Fed has not yet formally offered the service. With a slew of alternative-payments players now relying on the ACH as the underlying network to move funds, a number of payments players have argued for same-day clearing to meet customer expectations and help identify questionable items sooner. But not all processors are reporting strong interest among banks. The Clearing House [Payments Co. LLC] continues to evaluate same-day ACH with their Electronic Payments Network customers and to date, the concept has received a lukewarm response. Electronic Payments Network is the only other ACH operator, or switch, besides the Fed, and is the only private-sector operator.

While the Fed plan would speed up funds transfers, potentially making both online and mobile payments services that rely on the ACH more attractive to users, it would also cause banks holding consumer accounts to forfeit up to a day’s worth of interest income on funds they would now have to transfer earlier. That complication has sparked a competing proposal that would allow banks to post ACH debits on the same day if received by 8 p.m., but would call for actual settlement by 10 a.m. the next day.

The Southern California Association for Financial Professionals invite you to attend our annual EXPO L.A.  In addition to Our General Session Speakers Christopher Thornberg, Beacon Economics; Linnea McCord, JD, MBA, Pepperdine University and Annika Hylmo, PhD, The Insight group, we have 24 breakout sessions for you to choose from. Earn up to 12 CTP/ CCM credits.

Who Should Attend?
CFO's; Treasurers, Controllers, Assistant Treasurers, Assistant Controllers, Cash Managers, Accounting Managers, Treasury Staff , Treasury Consultants, Bank Professionals.  The 29th Annual EXPO L.A. will attract a wide audience of treasury executives from seasoned cash managers to financial professionals just starting out.  If you are a professional engaged in corporate treasury or treasury-related functions, or provide these services to the corporate sector, the 29th Annual EXPO L.A. is for you!   

For more information go to www.scafp.net/Symposium2010.asp or download the complete program brochure at www.scafp.net/Documents/2010PreliminaryProgram.pdf

Meet Robin Drummond, CTP

Robin Drummond serves as Manager of Cash Management for Southern California Edison and its parent company Edison International.  In this role, she is accountable for Treasury Management, Cash Forecasting and Investments.

Robin began her career at SCE in 1986 and has held a variety of positions in other departments including Capital Recovery, Investor Relations and Regulatory Finance.

Ms. Drummond possesses and MBA in Finance from California State University, Long Beach and a B.S. in Business Administration and Accounting from California State University, Los Angeles. She also earned her CTP credential in 2007.

Meet Lorelei Marayag

Lorelei Marayag has been with Cedars-Sinai Medical Center for 21 years and is currently the Senior Administrative Services Associate.  Her role is to handle the day-to-day operation of the Cash Management Systems and Services including monitoring the cash position, wire and ACH transfer systems, bank account surveillance, fraud detection, bank account analysis, as well as short-term investment and borrowing.

Meet Phil Bahng

Phil Bahng, also a member of the AFP, joined Smart and Final about 2 years ago as a Treasury and Risk Management Analyst. Phil’s main responsibilities include managing the treasury workstation, performing financial analysis, assisting with the administration of the debt portfolio and maintaining the cash forecast to assist in debt and cash management planning. He also handles the requirements of the risk management program, staying abreast of insurance markets, trends and retail industry practices and benchmarks.