5 practices that strengthen ALM processes

first_imgStrengthening a credit union’s asset/liability management process enhances the information it delivers to credit union staffers, which is very valuable in today’s data-driven operating environment.Effective ALM requires sound modeling techniques and reporting. Enhanced modeling and reporting can help quantify risk more effectively and lead to improvements in business decision-making and capital allocation. Many credit unions are seeing the value of enhanced risk reporting, providing an enterprise-level view of the financials in addition to maintaining regulatory and other requirements. This information allows the financial team to communicate more effectively with the board of directors and executive management as well as the credit union’s examiners.CFOs should regularly assess analytics and financial reporting processes, asking questions like: continue reading » 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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Oil’s apocalyptic April could reverberate for years to come

first_imgTopics : The demand slump is being exacerbated by former OPEC+ allies Saudi Arabia and Russia pumping as much crude as they can in a battle for market share, heaping additional pressure on shipping, tanks and pipelines. Goldman sees around 20 million barrels a day flowing into storage in April, while IHS Markit expects the world will run out of space to store oil by the middle of the year.Few in the industry will be spared. April is also set to be the worst ever month for global jet fuel demand, while industry consultant FGE forecasts American gasoline consumption will plunge by 50% from a year earlier. Energy Aspects Ltd. predicts global benchmark Brent crude may drop to near $10 a barrel, a level not seen in more than two decades.The April crash sets up a bleak second quarter for the market, potentially causing some producers to go to the wall and destabilizing governments in many OPEC nations. A near-term recovery in prices seems unlikely, with around 70% of 130 respondents to a Bloomberg Intelligence survey saying they see Brent still below $30 a barrel by June.About 70% of Bloomberg Intelligence’s 130 survey respondents see Brent below $30 by June, prior to OPEC’s next meeting. With the world’s biggest economies in lockdown due to Covid-19 and Brent at a 17-year low, a near-term recovery seems unlikely as demand remains in free-fall and Saudi Arabia and Russia entrench supply dominance.While the crisis will see the energy industry finally achieve the restructuring it so badly needs, according to Goldman, the push for de-carbonization could hinder its recovery when demand returns. Oil is entering a period of unparalleled demand destruction this month that promises to transform the industry for years to come.Daily consumption will plummet by 15 million to 22 million barrels in April from a year earlier, according to estimates from some of the world’s most influential energy analysts. The crash has already led to refiners slashing processing, drillers halting output and storage tanks swelling across the world.“This will likely be a game-changer for the industry,” Goldman Sachs Group Inc. analysts including Jeffrey Currie and Damien Courvalin said in a March 30 note. “It is impossible to shut down that much demand without large and persistent ramifications to supply.”last_img read more

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Pacquiao lands Down Under, tells Horn to be ready

first_img(REUTERS) – Eight-division world champion Manny Pacquiao concedes his next opponent Jeff Horn is a bit of an unknown quantity but has told the Australian he needs to be in peak condition to make sure their WBO welterweight title fight pleases fight fans Down Under.Pacquiao made a low-key entry to Australia yesterday, touching down at Brisbane airport for a promotional tour for their July 2 bout at Lang Park and speaking briefly to reporters before being whisked away by handlers.“I don’t know much about him, but I know he’s a fighter,” Pacquiao told local media.“I haven’t watched his fights yet, but I’m going to get his last three fights and watch it.“My message for him is to work hard, and make sure you’re 100 percent conditioned on July 2, so we can give a good fight, we can entertain people.”The fight against Horn (16-0-1) will be the 38-year-old Pacquiao’s first since his unanimous decision victory for the title over American Jessie Vargas in Las Vegas last November.Pacquiao had previously agreed to an April fight against Briton Amir Khan in the United Arab Emirates but his promoter Bob Arum said last month it had been postponed after the $38 million offer for the bout failed to materialise.The Horn-Pacquiao fight is eagerly anticipated in Australia and will be the biggest boxing event held in the country in decades.Organisers expect a crowd of over 50 000 to cram into Lang Park, which regularly hosts domestic and international rugby and soccer matches.Dean Lonergan, a director at promoter Duco Events, hoped the bout would revitalise boxing in Australia.“It’s been in the doldrums for some time,” Lonergan said in comments published by state media ABC.“I think you’ll find this will be the biggest fight in Australian history and you’ll see the underdog (Horn) come through, and there’s nothing like Australians supporting their own guys when they’re underdogs.”Manny Pacquiao of the Philippines celebrates after defeating Jessie Vargas of Las Vegas to become WBO welterweight champion at the Thomas & Mack Center in Las Vegas, Nevada, U.S., November 5, 2016. (REUTERS/Las Vegas Sun/L.E. Baskow)last_img read more

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Redskins’ Josh Norman says running with the bulls in Pamplona brought him ‘peace’ and ‘joy’

first_imgJosh Norman doesn’t see what the fuss is about when it comes to him running with the bulls earlier this month.The Redskins cornerback came under fire after a video of him jumping over a bull in Pamplona, Spain emerged. Redskins’ Derrius Guice downplays hamstring injury “I don’t understand it. Because it’s something I feel like I’m doing, that’s bringing peace and bringing joy to me, and I’m excited. [Did I] weigh the risks? Of course. I never would’ve done it if I didn’t.”Norman, who signed a contract five-year contract worth $75 million in 2016, might want to rethink that. Of course crazy things can happen walking out of the house, but leaping over an angry bull on purpose is a little different.Norman said he hadn’t heard anything from the team about his adventure in Pamplona. He skipped voluntary workouts, according to ESPN, which resulted him in losing $200,000 from his contract.By skipping the off-season workout program/not meeting the contractually mandated minimum of 90%, 6 Redskins players had their 2019 salaries reduced by:Josh Norman: $200kLandon Collins: $175kTrent Williams: $150kPaul Richardson: $150kQuinton Dunbar: $100kVernon Davis: $50k— Field Yates (@FieldYates) July 17, 2019 Norman was asked by Rich Eisen on his show about the experience Wednesday and how he was responding to the criticism that he was putting his football career in jeopardy.“You can just go outside your front door and get in the car and something happens to you, an accident happens,” Norman said. “You were safe. You can even go out there and be in practice, and be on the football field and tear an ACL. You were safe. I can go out there and run with the bulls and I do something exciting, and something that brings out the best in me in my life, in my world, and I win at that, I become victorious at that, and it’s an issue. Related Newslast_img read more

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Luke Campbell confident of upsetting Vasyl Lomachenko: ‘Every champion was once a challenger’

first_imgJoin DAZN and watch more than 100 fight nights a yearThe vacant WBC belt is also on the line at the O2 Arena, where Lomachenko is the overwhelming favorite, though Campbell insists he is ready to spring an upset.”After this fight, people will be asking other fighters why they’re taking me on,” Campbell said. “I have never wanted to take an easy route. I believe I am the best and want to be the best, so it doesn’t matter what route you take.”I have worked every day of my life since I was a young lad to do this and I am in a position to win.”We are the two best fighters in the division, so it is going to be an exciting fight. This is my time to show everybody how good I am.It’s coming #Coolhand pic.twitter.com/vx3oeA1s27— Luke Campbell MBE (@luke11campbell) July 22, 2019″It doesn’t matter what people’s opinions are because it is all about what happens in the ring.”I want to compete at the highest level and this is one of those moments where you make it or you break it, but I believe in myself. Every champion was once a challenger.”Promoter Eddie Hearn is backing Campbell, saying: “We are talking about the pound-for-pound best fighter against our greatest ever amateur and I believe Luke has the boxing IQ and ability to beat him.” But Lomachenko was amused by predictions of a loss, with Hearn having previously suggested Campbell would avenge Crolla’s loss.”I think, if you understand boxing, this is just like a joke,” Lomachenko told talkSPORT.He added to Sky Sports: “I think it’ll be a chess match, a smart, smart fight. I love smart boxing.” Luke Campbell claims he is ready to turn the tables on Vasyl Lomachenko, taking his WBA and WBO titles and sending a message to the rest of the lightweight division.The two will face off Aug. 31 in London, with Campbell the next to take on the unified champion who defeated Anthony Crolla, another Englishman, in April for his 13th win in 14 professional fights.last_img read more

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