The CFO Edge

Jack Sweeney The CFO Edge: Jack Sweeney was the former editor of Business Finance.

How Costly Will Obama’s Money Transfer Rules Be?

The Obama administration wants to require U.S. banks to report all electronic money transfers into and out of the country – an ambitious counterterrorism measure that despite its grand scale may not be as costly as you might imagine.

James H. Freis Jr., the director of the Treasury Department’s Financial Crimes Enforcement Network (FinCEN), was perhaps first to address concerns over the cost of execution this past Monday when he characterized the requirement as bringing only a “modest cost to industry.”

With all due respect to Mr. Freis, his assessment seems hard to swallow. more

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Operations Metrics Advance BPM’s Next Act

Adaptive Planning, the fast-growing finance software vendor, introduced earlier this month the latest version of its offerings, which means that CEO Bill Soward is back speaking to members of the press corps.

To help keep the discussion focused on trends impacting the finance department, Soward stopped by and reviewed with us, as he frequently does, the results of a recent survey of finance professionals conducted by Adaptive Planning and an “impartial” partner known until fairly recently as BPM Forum.

The forum appears to be run by Global Fluency, the same public relations outfit that scheduled Adaptive’s CEO to speak with us, which means that the survey questions may not be as impartial as we like. But Soward is always candid. more

On Day One for Obamacare, Reforms Signal Opportunity

Today, on this 6-month anniversary of the signing of the Patient Protection and Affordable Care Act, a number of the reform’s key provisions impacting insurance companies begin taking effect.

In my last post, I shared with you some comments from Edward Bonach, CFO of CNO Financial Group Inc. of Carmel, Ind. I found Bonach’s perspective rather refreshing in light of what might be called his “glass-is-half-filled” outlook on the new reforms. It is not exactly what you expect to hear these days from an insurer’s finance leader. Then again, CNO Financial appears to be unique in a number of ways. more

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CNO Financial CFO Predicts Demand for Medicare Supplements Will Neutralize Obamacare’s Sting

Like most top insurance executives, Edward J. Bonach, CFO of CNO Financial Group, has lately spent a good deal of time trying to discern the business impact of President Obama’s healthcare reform law. However, unlike many other senior executives, Bonach has identified what he believes to be an upside to the Obama reforms – a silver lining from which CNO’s market focus on middle-income families and seniors could benefit. Here’s what CNO’s finance leader told us:


Bonach: First of all, we believe that the reforms are neutral to positive for our business. The main reason I say that is that our market focus is 65-year-olds and older, and it’s our opinion that due to the healthcare reforms, Medicare is going to be cut back. This means that there will be more of a gap that needs to be supplemented. The Medicare supplement products that we offer will be even more needed and on average be a larger policy because of the gap growing. more

Sneak Preview: Business Finance Fall Cover

In response to an economy that leaves no hint as to what’s around the next bend, finance has been handed an urgent edict to stop spending so much time reporting what’s already occurred and to start informing management about what’s yet to happen.


Read our latest cover feature here. ###


Business Finance Magazine Cover Fall 2010





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