The Latest
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Understanding AI’s customer service opportunities
AI can help CFOs enhance customer service and other key business elements, but CFOs need to understand not only what the technology can do, but what it wasn’t made to do.
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Sponsored by Moovila
Two growth blockers too big to ignore
Data and human limitations cap your ability to drive revenue. It’s time for AI to help us break through.
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Bipartisan Senate bill would bolster SEC whistleblower safeguards
The SEC’s program for gathering tips on securities law violations has imposed $6.3 billion in sanctions since its creation.
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SVB’s parent company files for bankruptcy protection
The move will allow SVB Financial Group “to preserve value as it evaluates strategic alternatives” for venture-capital business SVB Capital and broker-dealer SVB Securities, the company said.
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Mattel CFO sees movie tie-in boosting Barbie sales
The iconic El Segundo, California-based toymaker had a tough 2022 but CFO Anthony DiSilvestro expects the outlook to improve and says parents will always prioritize spending on their children.
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SVB CFO may be swept up in stock dumping scrutiny
Three SVB Financial senior officers, including the finance chief, sold company shares worth a combined total of about $4.5 million as of Jan. 1, according to insider trading research firm Smart Insider.
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Nearly one-third of CFOs to diversify deposits across banks: study
CFOs are looking to take immediate action to assess the risk and exposure to their businesses following recent bank failures.
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Skechers CFO expects lower 2023 shipping pricing
When it comes to gross margins, Skechers’ CFO John Vandemore says last year wasn’t his “proudest.” But he’s now prioritizing inventory management which he called “crucial” to protecting margins.
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Does SVB failure expose CFO job creep’s weaknesses?
The bank's chief risk officer seat was left vacant for much of 2022, raising questions about how such responsibilities are distributed and to whom in the modern C-suite.
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FASB kicks off comment period on income-tax updates
While previous FASB efforts to update accounting standards for taxes have fizzled, Chair Richard Jones has said tweaks to the project’s scope have made it achievable.
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SEC fines IT firm DXC $8M for ‘misleading’ disclosures
DXC lacked adequate controls for the review, approval and classification of costs, according to the SEC.
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Former CFO sentenced in $1.9M embezzlement scheme
The California man used his position as an auto dealership CFO to issue himself unauthorized checks, as well as pay for personal expenses with company credit cards, prosecutors said.
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Burberry poaches CFO from McLaren
The British luxury fashion house announced another change in its C-suite after naming a new CEO just last year.
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SVB failure could cloud CFOs’ sunnier outlook
CFOs are cautiously optimistic for 2023, according to Deloitte’s latest CFO signals survey, but the swift downfall of SVB could test that.
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Signature Bank CFO among those named in investor lawsuit
A proposed class-action complaint claims the bank and its leaders misled investors about Signature Bank’s financial standing.
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After SVB, cash is once again king, ex-CFO says
With steady CFO leadership now paramount, finance leaders should prioritize cash and keep open their lines of communication with shareholders and employees.
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Bank failure panic fuels moment of opportunity for threat actors
As regulators step in to operate Silicon Valley Bank, threat hunters and security executives warned organizations to look out for malicious activity, highlighting finance employees as especially vulnerable.
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Core inflation rises, challenging Fed amid banking instability
Even as high inflation persists, the failure of Silicon Valley Bank and Signature Bank has undercut expectations that the Fed will step up the pace of monetary tightening.
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Silicon Valley Bank investors sue collapsed firm’s CEO, CFO
The proposed class action alleges the failed bank, CEO Greg Becker and CFO Daniel Beck concealed from investors the impact that high interest rates would have on the tech-focused firm’s business.
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4 keys to automation roadmapping
Finance tech projects undertaken without a good roadmap could be headed for failure, according to Gartner analyst Nisha Bhandare.
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Q&A
Finance tech guru dishes on ChatGPT
While the technology holds promise, concerns over the privacy risks are justified for now, finance tech expert Glenn Hopper says.
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Your company is changing software providers. Now, you just have to break it to staff.
It’s on technology leaders to reduce friction and frustration, engage stakeholders and foster communication to ensure a migration goes smoothly.
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Biden support for depositors may not brighten credit outlook
The high-profile failures of Silicon Valley Bank and Signature to hedge against interest rate risk may lead to a period of tighter credit, economists and financial advisers said.
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SVB could be biggest story for CFOs since COVID-19
The CFO Leadership Council held an emergency meeting on the Silicon Valley Bank crisis Friday while some finance leaders are bracing for broader ripple effects.
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SVB exposure: FAQs
In the wake of Silicon Valley Bank’s weekend implosion, CFOs are left scrambling to figure out the fate of deposits, payments and loans, as well as how exposure to the bank could impact their business.
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Regulators take over Silicon Valley Bank
The California Department of Financial Protection and Innovation closed the embattled bank and appointed the FDIC as receiver, regulators said Friday.