Business Continuity Planning within the Commercial Bank – A Cash Vault Perspective

Ed Angelbello
Vice President District Manager
Wells Fargo Bank, N.A.

Ed Angelbello is a 23 year veteran of Wells Fargo’s Operations units. Over the years he has led functional units including statement rendering, mail services, exceptions, and lockbox processing. He is currently Vice President and District Manager responsible for five regional cash vaults in the state of Florida. Under Ed’s leadership, Wells Fargo cash vaults have undergone considerable infrastructure changes including the consolidation of five cash vaults and the construction of four new state of the art regional centers. Experience in contingency planning and execution has come through a strategic focus and live fire drills that include four hurricanes crossing through the state in 2004. Ed has a bachelor’s degree in business administration from Florida International University. He and his wife and two children enjoy time together as active participants and volunteers in youth sports.

Presentation overview:

Natural and man-made disasters may threaten a business’ ability to conduct continued and normal business operations . A company’s determination to minimize impacts and avoid risks in a time of crisis can be best addressed through a well-crafted contingency plan. The risks are heightened when a direct threat to the business is brought about by a disaster scenario. The organization’s ability to support clients prior to , and in the aftermath of a disaster could significantly position the business for success. Wells Fargo’s emergency cash plan addresses market needs and formulates a plan of action to insure cash vaults support market requirements.

A Long View of the Trends and Uncertainties Affecting the Cash Supply Chain: The Federal Reserve System’s Perspective

Barbara Bennett
Vice President and Senior Policy & Strategy Officer
Federal Reserve System Cash Product Office
Federal Reserve Bank of San Francisco

Barbara Bennett is Vice President and Senior Policy and Strategy Officer for the Federal Reserve System Cash Product Office. In this capacity, she is responsible for policy and strategy formulation for the Federal Reserve Banks’ FedCash® Services function. She monitors emerging trends in payments practices, cash usage and currency quality, and works with a council of large Depository Institution customers to promote a collaborative approach to cash supply chain issues.

Since joining the Federal Reserve Bank of San Francisco in 1979, Ms. Bennett has held positions as Director of Corporate Strategy and Communications and Manager of Payments Strategies, which was responsible for evaluating trends in retail payments systems, including checks, cash, ACH and “emerging” alternatives.

Ms. Bennett holds a Bachelor of Arts in History from the University of California, Riverside, and a Masters in Public Policy from the University of California, Berkeley. She serves on the annual fund-raising event committee for First Place for Youth, a charitable organization that provides support services to former foster youth in California.

Presentation overview:

The rapid pace of change in payments technology and retail payments practices makes planning for the future a challenging proposition. The Federal Reserve System has embarked on an initiative to identify and understand the forces for change, working with others in the cash supply chain to prepare for and adapt to those forces. Barbara Bennett will discuss recent trends in cash payments and cash handling, cash supply chain drivers and uncertainties, and how the Fed is working with the industry to develop flexible approaches for the future.

CITs as Providers of Automated Cash Processing

Angel Antonio Celio Sandoval
Coordinador México, Centro y Sudamérica
Proceso y Administración de Efectivo
a Cash Management Company

Angel Celio has more than 20 years experience in overseeing logistics and cash processing in Cash in Transit companies, including movement, treatment, processing, and secure movement of money within and outside a cash center. Responsible for more than 100 cash centers in Mexico, Costa Rica and Brazil, he is frequently a speaker in banking cash events about cash policies, rules for deposits, cashdrawals, and cash packing. He was one of the leaders of the outsourcing process from the Banks to the CITs in Mexico, having designed and launched the first outsourced cash center in Mexico in 1991. He is also the coordinator of the CIT steering committee for cash management in Mexico, provided his long experience in the creation of processing manuals, procedures, policies, and controls. He is also a certified trainer in authentication of local and currencies, including dollars, and euros.

Presentation overview:

The outsourcing of the cash processing in Mexico started 22 years ago. CITs have evolved in their role from the simple processing of the cash, to a wider role by managing and administrate the Banks’ cash. They participate strategically in the cash cycle of the companies and sectors, at the same time they are required to adapt in a timely and efficient manner to the client’s needs. They cooperate with the Central Banks in the notes and coins recycling process. They support commercial banks to reduce their cash inventories, as well as clients obtaining accreditation of their deposits same day. They provide the automation of counting, verifying, fitness sorting and cash preparation processes. The presentation will analyze the importance of the automated processes in the CITs to face the continuous growth of the cash within low value payment systems.

Journey to the Next Generation, A Federal Reserve Perspective

Roland Costa
Senior Vice President and Chief Technology Officer
Federal Reserve System’s Currency Technology Office

Roland Costa is senior vice president and chief technology officer.  A native of Brooklyn, New York, Mr. Costa attended Fordham University in Bronx, New York; Pace University in New York, New York; and Virginia Commonwealth University in Richmond, Virginia.  Mr. Costa joined the Federal Reserve Bank of Richmond’s Computer Planning Department as a lead software systems programmer/analyst in 1984 and transferred to the Bank’s Business Application Services Department as a systems analysis and programming manager in 1989.  Mr. Costa joined the Federal Reserve System’s Currency Technology Office (housed at the Richmond Fed) as a currency systems project manager in 1997.  He was named currency technology officer in 1998, assistant vice president in 2000, vice president in 2002, and senior vice president in 2010.  Mr. Costa was named Chief Technology Officer in April 2003, a Federal Reserve System function reporting to the Product Manager and Executive Vice President of the Cash Product Office of the Federal Reserve Bank of San Francisco.

Presentation overview:

The Federal Reserve Cash Product Office is establishing a long-term strategic framework (LTSF) for currency processing in the United States for the next 10 to 15 years.  The LTSF team is evaluating the entire currency processing supply chain to understand its strengths and identify potential opportunities for improvement.  The LTSF will provide key business drivers that will define future Federal Reserve cash processing and the business requirements for the next generation of equipment.

This presentation will highlight the journey from the LTSF to the next generation of currency processing equipment that will be used at the Federal Reserve.

Demand Estimation and Cash Production Planning in Banco de México

IACA presents: The Latest Global Payment Trends

Eugenie Foster
Executive Director
International Association of Currency Affairs

Eugenie Foster was appointed as Executive Director of the International Association of Currency Affairs in May 2011. Eugenie leads IACA’s Global Payment Survey Project, whose goal is to develop robust international statistics about retail payment trends. On this project, she works closely with economists and cash experts at central banks to identify payment trends around the world and collaborate on best practices for retail payment surveys.

As Principal of Eugenie Foster LLC, she also provides support to financial institutions, suppliers, consulting firms, and other organizations involved in the banknote industry. Eugenie has extensive experience in strategic problem solving and risk management. She draws on almost 20 years of experience at the Board of Governors of the Federal Reserve System, the U.S. Treasury and the Central Bank Counterfeit Deterrence Group for her understanding of counterfeit deterrence, banknote distribution, public education, legislative affairs, and communications.

Presentation overview:

The International Association of Currency Affairs has formed a network of relationships with researchers in the central bank community who are examining trends in consumer payments.  In this presentation, Eugenie Foster, IACA’s Executive Director, will report on the most recent progress of the Global Payment Survey Project, and will analyze the trends that have emerged from consumer payment surveys.

Business Continuity and Contingency Planning in the Federal Reserve Cash Operation

Amy Goodman
Vice President
Federal Reserve Bank of Atlanta

Amy Goodman is  a  Vice President of the Federal Reserve Bank of Atlanta with over thirty years of experi‐ ence in various Bank operations.  She serves as the Dis‐ trict functional leader for Cash Services, overseeing the Cash  Operations  in  Atlanta,  Jacksonville,  Miami  and New Orleans.  She also manages the Sixth District Cash Function Office, which formulates District policies and procedures, provides assistance and oversight to opera‐ tions and monitors compliance to controls.

Presentation overview:

Federal Reserve Cash operations are united by a common objective to ensure that we are positioned to quickly and reliably provide currency and coin services for our constituency in the event of any disruption.   We focus on the development and maintenance of a contingency system comprised of an integrated web of different plans, communication strategies, response actions, tools and relationships that are called upon as we work through a crisis.   The conception and execution of a business continuity plan within cash operations requires a robust planning effort, which is continuously strengthened, maintained and nourished through collaboration and relationship building.

Miami – A Destination City for People and Currency

Paul Graham
Assistant Vice President
Federal Reserve Bank of Atlanta-Miami Branch

Paul Graham is a 32-year veteran of the Federal Reserve Bank of Atlanta. Since 2009 he has served as Assistant Vice President and Branch Operations Officer responsible for the Miami Branch Cash, Law Enforcement and Facility related operations. The Miami Cash Operation includes a large-scale domestic and international cash business which services customers throughout South Florida, Central America, South America, the Caribbean basin and various other international geographic regions.

Presentation overview:

Mr. Graham will welcome the ICCOS delegates to the host city of Miami. He will provide an overview of FRBA Miami Branch cash operations and the geographic regions that are serviced from this high volume cash center.

Opportunities for Developing Cash Processing and Cash In Transit (CIT) Services in The Bahamas

Stephen G. Greenslade, CPO
Founder/ President/ CEO
ICS of The Bahamas Company Ltd.
ICS Security Concepts

Mr. Stephen Greenslade is a Certified Protection Officer, (International Foundation of Protection Officers), Certified Paralegal and a Certified Fraud Specialist. He has extensive training in all aspects of Security Services and was the former Director of Security for the Nassau Marriott Resorts, Wyndham Nassau Resorts, and Crystal Palace Casino, (the island’s second largest Resort with a 25,000 sq foot casino and 865 guest rooms.) Mr. Greenslade is trained in Risk Management and is also a former police officer who served six years with the Royal Bahamas Police Force in various areas including the Central Division, Traffic Division, and the Criminal Investigations Department (CID.) He is a member of The Rotary Club of Nassau, American Society of Industrial Security (ASIS) and interim secretary of the Board of Directors of The Bahamas Security Association. His professional experience includes Private Investigator and Security Specialist, Entrepreneur, Businessman and Founder of ICS of The Bahamas Company Limited.

Presentation overview:

Over the past 40 plus years, the Bahamas have seen little movement in growth in Cash In Transit Services (CIT). To date there are no private cash management systems operating within the Islands of the Bahamas. Most firms focus solely on Cash In Transit private services which proved satisfactory to the limited number of service providers in existence.

Now that global cash transshipment has evolved in its reach to all stake holders worldwide, the Bahamas is poised for significant improvement. This has presented a unique opportunity for further development in the private sector of cash management.

ICS Of The Bahamas Co. Ltd established in 1994 has operated within the private security services industry for over 15 years before getting involved with Cash In Transit Services. Our market research revealed self imposed industry limitations when it comes to Cash Management. Our organization is now pursuing this market and taking an initiative to diversify the local industry enabling it to offer Cash Management/Cash Processing Services to all major banks and other financial institutions throughout the Country.

Prosegur White Label Branch - New Channels for Banking

Claudia L. Hernández
Project Manager
Prosegur

Claudia is an Industrial Engineer and is currently completing an MBA at the IE Business School in Madrid, Spain. She has acquired more than 8 years of experience within financial institutions and in key roles such as: Service Director, Collector Citiphone Retention and as Manager of Personal and Corporate Banking. Most recently she has been in the CiT and Cash Management area during the past 2 1/2 years with Prosegur and with roles as Commercial Director and Project Manager of the Corporate Area of Logistics of Valuables and Cash Management. Claudia is a native of Bogota, Colombia, a country where Prosegur have just recently completed geographical expansion with the acquisition of the remaining shares of a local Cash Management Company.

Presentation overview:

Throughout history, banks have been highly involved in economic growth of countries, being generators of products and services designed to solve financial needs as well as security, affiliation, recognition and even self-realization of individuals and companies.

The banking sector is aware of the impact that generates and that the feelings of their customers as well as their decisions are due to the effectiveness of their care and communication channels.

Telephone banking, electronic or independent agents as non-bank, are just additions to the office network, maintaining branch offices as the main channel yet most challenging, but still not the most effective; and that is where Prosegur is the ideal partner!

Prosegur Multiagencias (White Label Branch) is a new channel designed for banks in order to efficiently attend the cash management of their customers based on the different segments and using the highest standards of safety, kindness, comfort, opportunity and recognition. By providing specialized human talent, technology and facilities in line with flexible opening hours, we are ensuring full traceability of operations, timely information and "date value" to its cash management.

Prosegur S.A today confirms once more through the Multiagencias, the solid commitment to customer service of their clients, generating not only solutions to the booming economies, but also tools for solutions for economies in crisis.

End to End Cash Management

Virginia Hernández Troncoso
Director - Issue and Custody Department
Central Bank of the Dominican Republic

With a degree in economics, Mrs. Hernández has more than 25 years in her career with the Central Bank in the Dominican Republic, where she has served in a wide range of positions. During most of this time she has been linked to the international area, where she was head of the External Debt Unit, Deputy Director of the Department of Monetary Programming, in the area of investigations, and Deputy Director of relations with multilateral institutions in the International Department.

In this last position, she was responsible for matters related to international relations with Central Bank (monitoring credit policies of international organizations, external funding sources, participation in the Constituent Assembly and conversion of external debt, among others), as a link with international institutions such as the International Monetary Fund, the World Bank Group, the Inter-American Development Bank and the Latin American Integration Association (ALADI).

She has represented the Dominican Republic Central Bank in technical missions, annual meetings and international financing negotiations with international lending agencies, and in Committee meetings for Financial and Monetary Affairs of ALADI, among other international meetings and missions.

Between the periods from May 2007 to May 2008 she served as a technical consultant in Bank Management, mainly as a project manager for the implementation of information systems involving working with external consultants where, all operation Bank transactions systems will be integrated in a single database.

Since 2008, Mrs. Hernández has been the Issuance and Custody Department Director, where her mission is to meet demand, with high quality and security, for banknotes and coins in the country. This department is responsible for all matters related to coins and banknotes production design, issuance, custody, exchange, processing, collection and destruction of old bills and legal protection.

Presentation overview:

The Dominican Republic’s Constitution establishes the Central Bank of the Dominican Republic as the sole issuer of banknotes and coins into national circulation, with the Dominican Peso being the national monetary unit. The issuing function was born in 1947, the same year that the Central Bank was established, meanwhile the Issue and Custody Department has since suffered many transformations over the years. It’s principle function is to satisfy the public demand of banknotes and coins and amongst other responsibilities must also: determine the requirements of banknotes to be printed and coins to be minted while maintaining a good quality in circulation; develop technical specifications for banknotes and coin design and manage all aspects of the manufacturing/minting and international tender procedures; maintain statistics on banknotes and coins; attend to the financial entities requirements for banknotes and coins; and manage the cash operations for processing, removal from circulation and destruction of cash. This paper will cover all steps of cash from the design to the manufacture until it’s removal from circulation and final destruction, along with the tools and equipment used for this specific purpose. Furthermore, current and future projects with regards to the new serie of banknotes as well as the modernization of operations will be covered.

Remote Currency Management through Strategic Partnerships and Smart Safe Solution

James Karas
Vice President Executive Consulting & Conversions
Fifth Third Bank

James Karas is a seasoned Executive with over 25 years of operating and leadership experience. Mr. Karas currently serves as Vice President Executive Consulting & Conversions for Fifth Third Bank where he was instrumental in the development of a highly successful sales strategy and Cost Benefit analysis process for industry leading cash management products. He has assisted hundreds of clients in establishing new cash handling and operational procedures to integrate Remote Currency Manager into their operating processes and for back office management.

Prior to Fifth Third, Karas served as the Director, Enterprise Operations Initiatives for Wendy’s International, Inc and its subsidiaries. In that role, Mr. Karas provided operations and project management leadership to subsidiary executive steering committees, developed labor models and directed cross functional teams in strategic initiatives. He partnered with Procter & Gamble in the development of the Total Store Cleaning & Sanitation System and IBM in the implementation of New Store Systems which included the deployment of POS, satellite and back office system enhancements within the Wendy’s International system.

Prior to Wendy’s International, Mr. Karas was President and COO for an organization with development rights of Wolfgang Puck Express in GA, FL and TN. He has also served as a principal and founding partner in a regional steakhouse concept acquired by Quantum Restaurant Group and has held leadership positions with Flik International, Tavern on the Green and Waters Edge Restaurant.

Mr. Karas graduated with distinction from the Cornell School of Hotel Administration where he was inducted into both Ye Hosts Honorary Society and Phi Kappa Phi. He has also attended the Culinary Institute of America, New York Restaurant School and New York University. He resides in Lauderdale by the Sea, Florida.

Expanding the Cash Network in Latin America: Unconventional Channels Emerge as Cash Distributors

Jim Poteet
Senior Vice President of Business Solutions
Brink’s U.S.

Jim Poteet is senior vice president of business solutions for Brink’s, U.S. He has more than 18 years experience in the treasury management and payments area.  Prior to joining Brink’s, Poteet worked in the banking industry for more than 17 years at leading financial institutions including Wachovia, Bank of America and Fifth Third Bank. He is frequently asked to speak at industry events about payments and cash vault technology.  Poteet has a B.S. in political science and economics from Appalachian State University, and is a member of the AFP and TAWPI.

Leonardo Araujo
Director of Solutions and Commercial
Brink’s LATAM

Leonardo Araujo is Director of Solutions and Commercial for Brink’s Latin American region. Araujo oversees regional products and solutions strategy, product innovation and regional customer relationships. Before joining Brink’s in 2009, Araujo worked for Diebold overseeing corporate Business Transformation or Oracle CRM solutions and at IBM in various roles including responsibilities the self-service business units and providing information technology solutions to the retail banking industry.

Presentation overview:

As Latin America’s economies continue to rapidly develop, an expanding middle class is demanding greater access to banking services through a network of unconventional channels. In many countries, banks are no longer the only distributor of cash. Now consumers can go to the post office, kiosks or financial services store fronts. As immigration and trade grows across the Americas, many of these consumer demands are appearing in North America. This session will highlight emerging ways consumers can access the cash supply chain. Bankers and other suppliers can learn about trends that will help them better prepare for emerging consumer demands.

Offering the Next Generation of Financial Services for the Cash-preferred Market with Self-service Automation

Hamed Shahbazi
Chairman & CEO
TIO Networks

Mr. Hamed Shahbazi co-founded Info Touch Technologies in August 1997 as the founding CEO and architect of the company’s business plan. Since then Mr. Shahbazi has transitioned the Company into a payment solution provider that specializes in delivering bill payment and other financial services through a variety of automated self-service and clerk assisted payment processing methodologies.

Mr. Shahbazi earned his Bachelor of Applied Science degree in Civil Engineering from the University of British Columbia in 1997. Mr. Shahbazi also completed Harvard Law’s program on Negotiation for Business Executives. In December 2001, Business in Vancouver presented Mr. Shahbazi with the prestigious 40 Under 40 Award in recognition for his achievements as one of top performers in business, public or private life.

 (Cancelled last minute)

Introducing a New Polymer Banknote Series in Canada

Richard Wall
Director, Currency Operations
Bank of Canada

Richard Wall is Director, Currency Operations in the Currency Department at the Bank of Canada. Within the currency function, he is responsible for banknote production and the banknote distribution system including the processing centres in Montreal and Toronto. Mr Wall previously worked as project director for the Central Bank Counterfeit Deterrence Group (CBCDG) and Assistant Director of the Currency Development Team.  Mr Wall graduated from McGill University in 1978 with a Bachelor of Science in Architecture and Bachelor of Architecture degree.  He joined the Bank in 1990 as project manager for the Agency Operations Centres in Montreal and Toronto.

Presentation overview:

The issue of any new bank note series has a direct impact on individual Canadians, retailers , financial institutions, bank note equipment manufacturers and  other players  in the cash handling system.  This will be particularly true of the new series of Canadian bank notes, which will be printed on a polymer substrate.  Canadian bank notes have had technical innovations before – multi colours in the 1970s, an applied feature in the 1980s and a feature in the paper substrate in the 2000s, but the change of base material is arguably the most dramatic innovation yet.  The change will be noticed by every Canadian and will also require extensive adaptation by financial institutions and large cash handlers such as armoured car carriers, retailers,  and casinos and the vending industry. 

The presentation will review the steps taken during design, development and implementation to ensure, not only that the notes represented a significant increase in banknote security, but that the introduction of the new series created minimal disruption to the Canadian public , the cash handling industry and the banknote distribution system.    The presentation will look at planning timelines, stakeholder involvement, communication efforts leading to the issue of the $100 denomination and discuss the challenges anticipated with the issuance of the higher volume, lower denomination notes.

Cash Recycling: a Balancing Act

Jonathan Ward
Director
Secura Monde International Ltd (A G4S Company)

Jonathan worked with De La Rue plc from 1984 to 2005, where he was Global Currency Sales Director from 1996 to 2000, and then Managing Director of De La Rue’s Cash Processing Systems business from 2000 to 2004. He joined Secura Monde International (SMI) in 2006 specialising in Pre-Issue and Post-Issue consultancy.

Jonathan has 28 years of experience of the currency industry, working extensively with Central Banks, commercial banks and many industry suppliers in the banknote, coin and cash processing sectors. He holds a BA Hons from Oxford University

Presentation overview:

SMI reports on the findings of their research into the growth of cash recycling/recirculation beyond the realm of traditional wholesale cash processing. The increased availability of teller-assist and customer-facing devices capable of direct recycling of deposited cash, combined with the tendency of many Central Banks to delegate cash handling to the commercial sector is creating new opportunities and risks for all industry stakeholders, from policy makers to retailers. What are the factors which make local cash recycling economically viable and secure? What is the impact on traditional wholesale cash handlers? How can the Central Bank be assured that the quality and integrity of circulating cash is not compromised? These are some of the questions raised in the presentation, with references to recycling standards and practices in a global context.