2016 Presentation Details

Confirmed and planned presentations for the 2017 Americas Cash Cycle Seminar (ICCOS)  will be posted here soon. Below is a list of presentations delivered at the 2016 Americas Cash Cycle Seminar (ICCOS) in Miami, Florida. 

  Consumers Still Want their First Love...Cash

Alex BauAlex Bau
Manager, Operations and Business Continuity
Federal Reserve System Cash Product Office
The Federal Reserve

Alex Bau joined the Federal Reserve in 2010. He has spent 6 years in the Cash Product Office, which formulates policies and strategies for currency and coin services provided by all Reserve Banks across the United States and internationally. His responsibilities include administering and reviewing key components of the Federal Reserve’s Recirculation Policy, as well as other policies and service levels that together determine how the Federal Reserve meets its mission to ensure confidence in US currency. Alex holds a BS in Business Administration from the University of Southern California, with concentrations in Finance and Management Information Systems.

Presentation synopsis: Cash continues to face increasing competition from other payment instruments. The Federal Reserve has completed two payments diary studies in 2012 and 2015. We will review the changes in payment practices and cash usage observed over that three-year horizon, noting that Cash remains the most frequently used consumer payment instrument in the U.S.

Looking Beyond ROI in Cash Center Automation

Martin Bauer Martin Bauer
Vice President, Commercial Markets
Giesecke & Devrient

Martin Bauer is Vice President, Commercial Markets within the Currency Management Solutions Division of Giesecke & Devrient America, Inc. (GDAI). Martin manages the Sales and Service organization responsible for the commercial market segment (commercial banks, cash logistics/transport, casinos, transit, etc.) in the U.S. and Canada. In addition to his current role, Martin has contributed to GDAI’s significant growth in the Americas through responsibilities in direct sales and management in Latin America and the Caribbean and key account management in North America, as well as past assignments in project and product management.

Presentation synopsis: It is commonly accepted that ROI (Return on Investment) is a key factor when making business decisions. Often though, ROI is interpreted in a single dimension related to cost. Good decision making, however, should consider additional dimensions. We will look at what these dimensions are for our industry, in particular for managing cash centers. Automation and digitalization of cash handling creates questions concerning what to do, how to do it and when. This session will share industry experience on how to set the course for a positive ROI across all dimensions.

The Federal Reserve’s Strategies for Improving the U.S. Payment System

Nedelka M. Bell Nedelka M. Bell
Senior Account Executive
Federal Reserve Bank of Atlanta - Miami Branch

Bio: Nedelka M. Bell, AAP, is a Senior Account Executive for the Federal Reserve’s Customer Relations and Support Office. She received an MBA at Barry University in Miami, Florida. Nedelka started her career in New York, working for several banks and multinational organizations. In 1990, she joined The Federal Reserve Bank of Atlanta as a Management Intern. Her assignments have included: Financial Management; Treasury and Securities Services; and Cash Services. Nedelka currently works with financial institutions in Florida, East Georgia, and Puerto Rico. She partners with these clients to identify their business needs and proposed solutions that fit their organization.

Presentation synopsis: The Federal Reserve and nearly 500 payment system stakeholders have joined forces as part of the Federal Reserve’s Faster and Secure Payments Task Forces to improve the U.S. payment system. These task forces have engaged in considerable industry dialogue that could fundamentally transform how we execute electronic payments. The Faster Payments Task Force will be publishing their final report in 2017 highlighting their assessment of faster payments solution proposals, brought forward to the task force, and the challenges and opportunities to make real-time payments a reality in the United States. The Secure Payments Task Force is focusing on reducing payments fraud risk and advancing the safety, security and resiliency of the U.S. payment system. During this session, you will learn more about what’s to come and how to get involved in the work underway to improve the U.S. payment system.

Polymer Banknotes: The Afterlife

Chris Catlin Chris Catlin
Head of Central Banking Services,
PolyTeQ Services

Bio: Chris Catlin commenced his career in 1970 with the Reserve Bank of Australia (RBA). This career of 32 years included 20 years of managing cash processing and distribution operations in various States of Australia. He was an integral member of the initial polymer banknote launch team for the RBA. In 2000 he project managed the centralisation of the RBA's cash processing and distribution operations in Melbourne, Australia.

He joined PolyTeQ Services in late 2006 as a Central Bank Advisor, assisting other central banks with the adoption and implementation of Guardian® polymer banknote technology. In January 2009 he was appointed as Head of PolyTeQ Central Banking Services responsible for the oversight and management of PolyTeQ’s Central Banking activities. Chris holds an MBA degree from the Adelaide University with a focus on contemporary management issues.

Presentation Synopsis: Established practice for the disposal of paper banknote waste after destruction by central banks has been either burning or burial into landfill. Both of these disposal practices carry varying degrees of cost to the environment. With the drive to create a more environmentally-sustainable product, the Guardian Global Recycling program, allows central banks that have adopted the polymer banknote substrate technology the option to recycle 100% of these destroyed banknotes. By converting the polymer banknote waste  into a commercially saleable form (pellets), recycled plastics manufacturers are able to produce merchandise such as park benches, garbage bins, gardening products and many other plastic products.

Find out more of how Innovia encourages social corporate responsibility by means of the Guardian global recycling program, and how this assists central banks to meet the ever increasing environmental demands of being ‘good corporate citizens’ through the efficient use of resources resulting in waste reduction.

Commercial Deposit Re-engineering - Best Practices 

Kevin Connelly Kevin H. Connelly
Executive Vice President
The RWC Group

Bio: Kevin is Executive Vice President at The RWC Group, a value-added provider of payment system advisory services and expert contract resources to over 100 financial institutions, a wide range of FinTech companies, and the Federal Government. Additionally, Kevin is President and Founder of Treasury Technologies, LLC, an industry leading provider of next generation payment system solutions. Kevin developed the original key concepts of commercial deposit reengineering and is the foremost global expert on the topic. He has authored two chapters on deposit reengineering in the Corporate Cash Management Handbook (updated and published 2015 by Thomson Reuters). He is also a co-patent holder of the Deposit Tracking System.

Presentation synopsis: The payments landscape has changed significantly and bankers must adapt or be disintermediated by those changes. Check volume will continue to diminish, remote deposit capture will continue to proliferate, and coin and currency are here to stay. Online and mobile banking, coupled with increased ATM functionality, will drive consumer banking while non-bank payments and digital wallet services such as Apple Pay have become more widely accepted among both consumers and their financial institutions. New regulations and increased anti-money laundering (BSA/AML) regulatory scrutiny will continue to drive up banks’ costs, while new risks will necessitate improved governance, risk management, automation, and compliance systems. Banks must reengineer their commercial deposit products, operations, risk management and cost structures in order to remain competitive and profitable. All of this affects the way that businesses interface with their banks and the costs they bear as customers. Proven global industry commercial deposit best practices will be presented and collaboratively discussed during this session.

Innovations and New Options for Banknote Security Inks

Nick CooperNick Cooper
Sales Director

Nick graduated from the University of Essex in 1993 and, after some post-graduate work at the Erasmus University in Rotterdam, joined Luminesence in 1994. He has been involved in the sales and marketing departments since this time and was made a director of the company in 1998. He was responsible for developing the corporate image over the last 20 years and has helped establish security ink sales in over 100 countries globally.

Presentation synopsis: Nick Cooper of Luminescence will discuss some of the new alternatives available to currency printers. This will include a description of some innovative security features and also an update on the full range of inks that Luminescence can supply for banknote production.

 The Explosion of Cash And its Impact on Self Service Technologies

Nancy DanielsNancy Daniels
Nautilus Hyosung

Nancy oversees the ATM and Branch Automation business across North America for Hyosung, an international leader at the forefront of financial transaction technology. In her role, she leads all operations, services, sales and innovation initiatives, and guides the company’s continued North American expansion. An industry veteran, Nancy brings an unparalleled track record of global business and technology experience with Fortune 500 companies. She has served more than 25 years in various domestic and international leadership roles in the financial industry. Prior to the financial industry, Nancy spent over 15 years in the defense industry where she worked in advanced development and as a technology analyst both domestically and abroad.

Presentation synopsis: United States currency is inherently technology unfriendly due to the materials it is made from, which has created challenges for the self service banking technology. As cash in circulation has exploded, principally due to the adoption of cash as a key payment method for transaction less than $40 by the millennial population, retail establishments and financial institutions are dealing with managing quantities of cash their technology and business processes were ill designed to handle. This session discusses the challenges and solutions available to re-engineer infrastructure and processes associated with the cash-ecosystem.

The Revolution of Cash Handling Technology and the Prominent Role of the Armored Carrier Industry

J.R. Davis J. R. Davis
Senior Vice President
Davis Bancorp

Bio: J.R. Davis is Senior Vice President at Davis Bancorp, a privately held protective services and cash-in-transit firm headquartered in Chicago, Illinois. His core responsibilities include strategic planning, process management, and security company-wide. J.R. is a Certified Fraud Examiner (CFE), licensed Private Detective and Private Security Contractor, and presently serves as a representative on the Bank Secrecy Act Advisory Group at the U.S. Treasury Department. He is also currently the President of the Independent Armored Car Operators Association, Bankers Document Storage Corporation, and the Smith Museum of Stained Glass and American Art, and a board member of the Chicago Crime Commission. 

Refugio Lopez Refugio Lopez
Vice President,
SureTraxx Cash Management Systems

Bio: Refugio Lopez is SureTraxx™’s Vice-President, Cash Management Services. He is a leading expert and innovator with over 24 years of experience in the cash management industry. Refugio began his career in 1991 with the Federal Reserve Bank of San Francisco. In 2004, he joined MUFG Union Bank to lead their cash services operations and to expand their national footprint of owner-operated cash vaults in partnership with large national armored carriers. Mr. Lopez has a Bachelor’s degree in Finance and Marketing from the Haas School of Business at UC Berkeley and he is a graduate of the Pacific Coast Banking School at the University of Washington.

Presentation synopsis: Davis Bancorp is a leading armored carrier offering a full range of security and support services, each handled with the most evolved technologies and procedures that set industry standards. J.R. Davis, Senior Vice President at Davis Bancorp, and Refugio Lopez, Vice President at SureTraxx Cash Management Systems, will discuss how partnering has further revolutionized the cash handling process for Davis Bancorp by bringing full visibility and tracking of cash deposits and orders to key stakeholders within the cash supply cycle, including their retail and banking customers and internal operations. The manufacturing of tamper evident bags with sequentially numbered barcodes offered by NELMAR Security Packaging Systems Inc. serves as the foundation for the online SureTraxx™ platform, which effectively eliminates the use of paper by Davis Bancorp and its customers, while offering a full-view online solution for its customer’s cash flow management and Davis’ transportation and processing logistics.

Note Life and Quality: Observations from Processing Data

Shaun Ferrari Shaun Ferrari
Assistant Director
Board of Governors of the Federal Reserve System

Mr. Ferrari is an Assistant Director of Division of Reserve Bank Operations and Payment Systems at the Board of Governors of the Federal Reserve System. He has responsibility for banknote issuance and cash operations for the Federal Reserve. He previously served as the manager of the Board’s Banknote Issuance and Cash Operations area and has been a member of the cash department for 13 years. Mr. Ferrari also chairs the System’s Committee on Custody Controls. Mr. Ferrari is an expert on the issuance and circulation of United States currency, as well as Reserve Bank currency operations and control requirements. He received undergraduate degrees in Government and Economics from Connecticut College and a master’s degree in Applied Economics from The Johns Hopkins University.

Presentation synopsis: The Federal Reserve has conducted numerous note life studies from 1990 to present. This presentation compares those studies to our routine note life calculations and discusses our most recent pilot study (2015) of note life using BPS processing data. We were able to determine note life, velocity of circulation, and quality degradation of notes throughout their life using actual circulation data rather than estimates which we have previously relied upon.

Welcome Address

Bevery L. Ferrell Bevery L. Ferrell
Assistant Vice President
Federal Reserve Bank of Atlanta, Miami Branch

Bio: Bevery Ferrell is an assistant vice president at the Miami Branch of the Federal Reserve Bank of Atlanta. She has leadership responsibility for the operations and functions of the Miami Branch, including Cash Services, Law Enforcement, Facilities, Support Services, and Information Technology. Ms. Ferrell joined the Miami Branch as a management associate in 1997 and held various management roles in Check Collections and Payment Services until 2004. After a break in service, she rejoined the Miami Branch in 2010 as a financial services director in Cash. In April 2016 she was assigned to her current role overseeing branch operations at the Miami office. She serves on the Federal Reserve System’s international currency work group. Ms. Ferrell earned a bachelor of arts in finance from the University of Miami and a Project Management Professional (PMP) certification from Florida International University.

Threats to Cash: What the Recent Research Tells Us 

Eugenie Foster Eugenie Foster
Executive Director
International Association of Currency Affairs (IACA)

As Executive Director of the International Association of Currency Affairs (IACA), Eugenie Foster provides leadership for all of IACA’s programs and works with its Board to support central banks and cash industry suppliers in making cash the best that it an be. In particular, for more than seven years Eugenie has monitored central bank research on consumer payments for IACA’s Global Payment Survey Project. She has worked with economists and cash experts at central banks to identify and analyze payment trends around the world.

Eugenie’s strategic problem solving and risk management skills reflect 20 years of experience at the Board of Governors of the Federal Reserve System, the U.S. Treasury Department, and the Central Bank Counterfeit Deterrence Group. Her range of expertise includes counterfeit deterrence, banknote distribution, public education, legislative affairs, and communications.

Presentation synopsis: In recent years, several European countries have pursued efforts to increase consumers’ digital payments, on the theory that cash is expensive, and that society as a whole would be better served by reducing payments costs. In the Netherlands, a coalition of banks and retailers, together with support from other segments of their society and the central bank, has worked since 2007 on various efforts to increase the use of debit cards by consumers. Eugenie Foster, Executive Director of the International Association of Currency Affairs, will discuss recent central bank reports that describe the consequences of efforts to manage how consumers pay.

Assisting Retail, Banks, Central Banks and the Consumer in a More Efficient Usage of Coins

Sergio FrancaSérgio França
Commercial Director and Director of LVGE Division
Prosegur Brazil

Sérgio França Augusto Patrocínio holds a Bachelor of Science in Accounting as well as several post graduate degrees in Quality Engineering, Finance & Business Management. Additionally, he has an MBA in Marketing & PMD (Program for Management Development).

His previous professional experience includes accounting and audit work, plus high level consulting with major banks and Brazilian retailers. Sérgio has worked for 19 years at Prosegur Brazil, where he has occupied several positions of leadership and management. Currently he is Commercial Director and Director in charge of the Logistic Securities and Cash Management Division.

Sérgio is married with three children and resides in São Paulo - Brazil.

Presentation synopsis: The lack of coins is a serious problem for the commercial sector in Brazil. Similarly to many markets globally, the bulk of coins do not circulate, therefore creating an unfavorable rounding issue at the retail level. A process was missing for the retailer where real time values of deposited coins could be controlled and integrated into the retail cash management system. With the intelligent CataMoeda introduced by Prosegur, the consumer can take their coins to the nearest available point of service and receive credit in several alternative formats. The benefits of the solution are extensive, ranging from the savings to the tax payers and government by means of a reduction in extraction of minerals for new issuance, to the operations cost reduction for the retailer, new revenue opportunities, increases in sales, higher consumer flows and better experience overall. All these benefits culminate in another fundamental objective, customer loyalty.

Banking Services in Retail, How to Live up to the Challenge!

Laura HernandezLaura Hernandez
7-Eleven Mexico

Laura is currently the Treasurer for 7-Eleven Mexico and Petromax. She started her career as Senior Auditor for Price Waterhouse Coopers and now has more than 13 years experience as treasurer starting at a bottling company Arca who managed the Coca Cola brand. Laura holds a degree as Chartered Public Accountant from the University of Monterrey.

Presentation Synopsis: With the objective of increasing client flows in the >2000 retail points, 7-Eleven México is the first convenience store chain nationally to celebrate a merchant contract in order to operate as a correspondent bank branch. While meeting the desired objectives, another (unsuspected) challenge emerged with the sharp increase in cash volumes, which provoked a new focus on cash management. Make sure to attend and listen to the solutions already implemented and strategies being evaluated for the future efficiencies.

Objectives of the Cash Management Association of the Americas (CMAA)

Bo Holmgreen Bo Holmgreen
Executive Director

A native of Denmark, Bo H. Holmgreen attended the Technical University of Denmark and earned a Master’s degree in Electrical Engineering and an MBA. He was the Founder, President & CEO of Transoft International Inc., a leading provider of cash supply chain management software solutions for the banking, ATM, and Armored Car industries. In late 2012, Mr. Holmgreen sold Transoft International to NCR Corporation, and joined NCR as Vice President & General Manager of Cash Solutions. He now dedicates himself to four non-profit organizations, two of which operate in the cash management industry, including the Cash Management Association of the Americas (CMAA).

In 2015, Mr. Holmgreen decided to apply his entrepreneurial skills to a non-profit called GreenCash, seeking new environmental approaches to the global cash supply chain, tax credits for CO2 off-setting, and generally applying new distributed cash recycling methods to simplify cash flows between industry stakeholders. Mr. Holmgreen has been active in the EFT Association, RBR, and ICCOS, has published a number of industry articles, and has been a familiar speaker at many international and domestic conferences.

Presentation synopsis: The mission of the CMAA is to bridge the gap of networking and communications amongst cash management stakeholders in the many countries that constitute the Americas region. This presentation will discuss the reasons why it is vital to have a full range of stakeholder participation and how the association’s objectives for the coming year will benefit its membership.

 The Benefits of Choosing the Right Denominational Mix 

Paul Morgan Paul Morgan
Regional Director of Sales
The Royal Mint

Paul has worked for The Royal Mint for over 24 years and during this time he has held a number of senior roles encompassing all areas of the business. In his current role as Regional Director of Sales for the Americas and Caribbean he has gained a global perspective of the coin-related issues facing central banks, issuing authorities and state mints. Paul has also presented a number of papers at major coin conferences.

Presentation synopsis: An overview of coinage materials and security features will provide useful information to help central banks make an informed choice for their currency mix.

Industry 4.0 Meets the Cash Cycle

Lorraine Laviolette Lorraine Laviolette
Vice President, Central Banks
Giesecke & Devrient

Lorraine Laviolette is Vice President, Central Banks & Banknote Printers within the Currency Management Solutions Division of Giesecke & Devrient America, Inc. (GDAI). She is responsible for G&D’s central bank and banknote printer customers in the U.S. and Canada.

Prior to joining G&D seven years ago, Lorraine worked with the Bank of Canada for twenty three years in various roles within the banknote business. Responsibilities included managing the Bank Note Distribution System in place with commercial banks as well as operations centers in Toronto and Montreal, and was a Director with the Central Bank Counterfeit Deterrence Group.

Presentation synopsis: In order to keep up with the demands of the future, production processes need to become intelligent, efficient and sustainable. The cash industry is no exception. Industry 4.0, is a German future directed project aimed at developing a vision for industrial production beyond the year 2025 and is attracting more and more followers worldwide. The characteristics and core capabilities are connectivity, collaboration, data and analytics. In addition, as production becomes more digital, security is becoming even more important. We will examine the many opportunities available to bring the benefits of Industry 4.0 to the cash cycle.

Panel Discussion: Everybody Wins: Successfully Realigning Cash Management Roles 

Moderated by: Jim Poteet, Executive Vice President – Sales & Marketing, FireKing Security Group 

Panelists: David Koval, Cash and Transportation Services Executive, Bank of America.  Deirdre Spehar, Vice President, Financial Institutions, GardaWorld.  Robert Lynch, SVP, National Financial Business Development, Loomis. David Negrete, Director, Commercial Cash Services Integrated Services for the Americas, MUFG Union Bank.

Panel Synopsis: Our panel of distinguished industry experts will share their insights, lessons learned, and advice on what it takes to go from an outsourcing project to creating a mutually beneficial cash management partnership. Relinquishing non-core cash management tasks to a trusted partner can help banks endeavor to generate higher returns, add value for their clients, and increase risk management controls. The banking executives on the panel will share recommendations for successfully integrating and realigning roles along the cash life cycle. Armored/cash-management executives will weigh in with their recommendations for avoiding pitfalls from their experiences in offering cash management solutions to financial institutions.

Jim PoteetJim Poteet (Moderator)
Executive Vice President - Sales & Marketing

Jim joined FireKing Security Group from Treasury Strategies, Inc., where he provided consulting services to firms and financial institutions on payments, treasury, and technology. In addition to previously serving as a Senior VP – North American Strategy and Innovation at Brinks, Jim has held senior leadership positions at Fifth Third Bank, Bank of America and Wachovia Bank. Jim is a frequent speaker at industry events leveraging his extensive background in cash management product development, operations and sales.

David KovalDavid Koval (Panelist)
Cash and Transportation Services Executive
Bank of America

David Koval is the Cash and Transportation Services Executive for Bank of America, with enterprise-wide responsibility for domestic cash vault processing, armored transportation services, cash management, and forecasting

David began his career at Bank of America in 1991 and has held a wide variety of management positions over the past 25 years, including leadership roles in Brokerage Operations, Quality and Process Design, and Treasury Management Operations.

David holds an MBA from the University of North Carolina Charlotte and a BA in Economics and Business Management from North Carolina State University. He holds Series 7 and 24 FINRA registrations.

Diedre SpeharDeirdre Spehar (Panelist)
Vice President, Financial Institutions

Deirdre E. Spehar is Vice President, Financial Institutions for GardaWorld Cash Services. She is responsible for bank client relationships as well as developing products and sales strategies that align to client objectives.

Ms. Spehar joined GardaWorld from Bank of America where she was Senior Vice President, Group Operations Manager. Over her fourteen-year tenure she was responsible for cash forecasting, fulfillment, transportation and logistics, vault operations and payments. Earlier in her career, she held positions at Union Planters Bank and the Travelers Group.

Ms. Spehar is a veteran of the U.S. Navy and holds a BS degree in business economics from Southern Illinois University.  

Robert LynchRobert Lynch (Panelist)
Senior Vice President, National Financial Business Development

Robert Lynch is Senior Vice President of National Account Financial Business Development for Loomis, and leads the Loomis business development team whose charter is to provide comprehensive solutions for cash handling to the leading financial institutions and ISOs/IADs throughout the U.S. These solutions include outsourced cash vaults, cash/coin/check processing, armored transportation, ATM replenishments and deposit pulls, and a variety of technical services.

Robert has over 25 years of experience increasing sales through keen understanding of market conditions and emerging trends, developing strong partnerships with major national and international organizations, and maximizing the performance of managers and salespeople. He has also led several M&A communication projects for Loomis and has served as Co-Chairman of the GS1 US Cash Visibility Marketing group. Based at Loomis Corporate Headquarters in Houston, Robert resides in Atlanta, Georgia and graduated with a BBA degree in Business Management from the University of Georgia.

David NegreteDavid Negrete (Panelist)
Director, Commercial Cash Services, 
Integrated Services for the Americas  
MUFG Union Bank

As a Director for MUFG Union Bank in Integrated Services for the Americas, David Negrete manages Commercial Cash Services and Account Reconciliation. His Team serves primarily Transaction Banking clients as well as the Retail Bank, Wealth Management, Asian Corporate, and Commercial Banking on a national basis. He has been with the Bank since 2006, following 16 years of leadership roles in operations at Bank of America in Global Treasury Services. David attended California State University, Sacramento and studied Business Management and Marketing. He currently resides in Arizona with his wife, two kids, and their Labrador Retriever.


The Cash Cycle and Custody Systems in Peru

Alejandro Rozas Alejandro Rozas Alosilla Velasco
Deputy Manager of Analysis and Circulation Programming 
Central Bank of Peru

Alejandro Rozas Alosilla Velasco is the Deputy Manager of Analysis and Circulation Programming for the Central Reserve Bank of Peru. In this position he is in charge of ensuring adequate quantity, quality, characteristics and denominations in circulation according to currency economic demands, by proposing actions to optimize the supply, distribution and removal of notes circulating.

With over 25 years of experience in the Central Bank, Alejandro has been Deputy Manager of Corporate Services and Deputy Manager of Custody, among other charges. In addition, he is a member of the Board of the Office for Combating Counterfeiting since 2014. Alejandro is an economist with a Masters of Business Administration with a specialization in finance. He has been a university lecturer at various undergraduate and graduate universities.

Presentation Synopsis: From the perspective of a Central Bank, the cash cycle comprises a series of steps; passing notes and coins through manufacturing, issuance, distribution, circulation, processing and destruction. A proper understanding of this cycle, as well as its stakeholders, in each of the stages is very important for an efficient management of circulation, with the aim that it is measured in quantity, quality and adequate denominations for the economies requirements. Through a comprehensive view of the Cash Cycle in Peru, they will present the "System of Custody" which is the mechanism by which the Central Bank maintains some of its holdings of cash in vaults under the custody of Empresas del Sistema Financiero (ESF). The cash is held within the vaults of the ESF or CIT’s and the ESF maintains the deposits or cash withdrawals rather than the Central Bank. Through this system, the Central Bank decentralizes part of its stocks and costs plus operational risks are reduced and cash recirculation is provided by other organisations.

How Risk is Rapidly Shifting International Finance

David Schwartz David J. Schwartz
President and CEO
Florida International Bankers Association (FIBA)

David Schwartz is President and CEO of the Florida International Bankers Association (FIBA), a nonprofit trade association dedicated to fostering the growth of international banking through education, advocacy and networking. Its membership includes some 70 financial institutions from 18 countries spanning 4 continents, including the largest banks in Europe, the U.S., Latin America and the Caribbean.

Prior to joining FIBA, David was Senior Vice President and Manager of International Compliance Risk Management at Regions Financial Corporation in Miami. David worked for Banque Sudameris for over 20 years, holding numerous International Banking positions in Argentina, Monte Carlo, and Miami.

David received his Juris Doctorate from New York Law School and also has a Bachelor of Arts degree from Florida State University in Tallahassee, Florida.

Wayne ShahWayne Shah
Senior Vice President
Wells Fargo, N.A

Wayne Shah is a Senior Vice President at Wells Fargo and works in their international division managing correspondent banking for the Caribbean region. He is an experienced practitioner from the fast-paced world of banking and technology. His background encompasses various functions within both corporate and retail banking and includes successful international stints with Citicorp, ABN AMRO Bank, M-Frontier Inc. and Clavex LLC. In 2006 Mr. Shah was appointed Chief Operating Officer of Clavex LLC., a wholly owned subsidiary of BLADEX - the Latin American Export Bank. In 2002 Mr. Shah co-founded M-Frontier Inc. a Miami company focused on providing technology solutions for Banks. In 1998 Mr. Shah joined ABN AMRO as the Regional Head of Capability Management for Latin America and Caribbean focusing on establishing electronic banking and back office capabilities for Cash Management, Trade and Treasury services. In 2000, Mr. Shah was appointed Head of the bank’s E Commerce / B2B business development team with a focus on Procurement, Settlement and Working Capital. Before departing from ABN AMRO, he was the senior Global GTS consultant to the energy sector covering both Asia and Latin America.

Presentation synopsis: Increased regulation, stricter due diligence requirements and compliance costs have led financial institutions to reconsider their involvement in correspondent banking and the product lines that it represents. The panelists will discuss the phenomenon that has become to be known as De-Risking, its causes and effects, and the challenges faced by banks in the U.S., Latin America and the Caribbean.

Panel Discussion: Will Cash Handling Innovations Transform The Supply Chain? 

Moderated by: Steve Son, Director, National Operations, Business Continuity, and Application Product Management, Federal Reserve System Cash Product Office

Panelists include: Donna Becraft, CIO, Dunbar Armored, Inc; Amy Burr, Vice President, National Cash Office - Cash Product Office; David S. Hasler, Senior Director, Global Treasury, Walmart; Carl Harler, Executive Director, JPMorgan Chase

Panel synopsis: Merchants, branch banks, armored carriers and the Fed are deploying technology and other innovations to transform cash handling within their operations. This panel discussion will explore these developments and how they are affecting the overall supply chain.

Steve SonSteve Son (Moderator) 
Director - National Operations, Business Continuity, and Application Product Management 
Federal Reserve System Cash Product Office

Steve Son is Director for the Federal Reserve System Cash Product Office.  In this capacity, he is responsible for national cash operations, business continuity, and applications product management for the Federal Reserve Banks’ FedCash® Services function.  He guides currency and coin distribution, operational controls and policies, business continuity planning and event management, and business prioritization of cash applications, working with internal and external stakeholders to ensure the Federal Reserve Banks’ cash business continues to meet its mission.  

 Mr. Son holds a Bachelor of Arts in Social Sciences with an emphasis in Economics from the University of California, Irvine

Donna BecraftDonna Becraft (Panelist)
Dunbar Armored, Inc

Donna Becraft serves as Chief Information Officer of The Dunbar Companies where she leads the Company’s implementation of new information technology, strategic planning, software development, and systems hardware.

Becraft began her career with Dunbar and grew with the company, where she has held positions of increasing responsibility in the Information Technology area. Since joining Dunbar Armored as a data entry operator in 1983, she earned promotions to Vice President of Administration (1999), Vice President of MIS (2000), and Chief Information Officer (2003). Becraft is well-versed in all aspects of the organization’s varied businesses, but focuses on growing the Company’s IT capabilities and enabling the organization to benefit from digital technology. Becraft is a member of Dunbar’s Executive Committee, serves on the Executive Leadership Committee for Cash Visibility,a member of the Federal Reserve’s Armored Carrier Forum.

Becraft received her AA degree with a concentration in Information Technology in 1984 and holds a Business Certificate from St. Elizabeth’s Business School.

Amy BurrAmy Burr (Panelist)
Vice President, National Cash Automation
Federal Reserve System Cash Product Office 

Amy is responsible for the group within the Cash Product Office that manages the development and testing of software to facilitate the distribution of currency and coin to Federal Reserve customers domestically and internationally and to support the Federal Reserve’s internal cash operations.

Amy began her career with the Federal Reserve System in 1998, as a Project Analyst with the Federal Reserve Bank of Atlanta. Amy joined the CPO’s Product and Policy group in 2001, and began working in technology projects in 2004. She holds an undergraduate degree from Tulane University and a Masters’ in Public Administration from Louisiana State University.

David HaslerDavid Hasler (Panelist)
Senior Director, Global Treasury

David S. Hasler currently leads the Global Cash Operations team in Global Treasury at Walmart. David’s team manages and optimizes the movement of cash between stores, carriers, and banks and leads efficiency projects for cash handling and processing within stores. His other positions at Walmart have included International Finance (FP&A, global leverage, M&A analysis, and global incentive compensation), Investor Relations (annual report development, quarterly earnings releases), and Senior Director of Finance and Strategy in two SBUs. David previously held positions at Procter & Gamble, Limited Brands, and The Body Shop International, and has completed a BBA in Finance (University of Kentucky) and an MBA in Business (Xavier University).

Carl Harler
Carl Harler (Panelist)
Executive Director, Centralized Transaction Operations
JPMorgan Chase

Carl Harler is an Executive Director for JPMorgan Chase who is currently focused on business planning and strategy for cash processing. In his current capacity he is focused on site location strategy, outsourcing analysis, cash inventory management, and emerging project implementations. Prior to his current role, he held a series of operations management positions in various treasury and processing operations. He holds a BS in Management Science from Virginia Tech and an MBA in Finance from Pace University in New York.

Right On The Money: Emerging Trends In The Cash Lifecycle

Deirdre Spehar Deirdre Spehar
Vice President Financial Institutions

Deirdre E. Spehar is Vice President, Financial Institutions for GardaWorld Cash Services. She is responsible for bank client relationships as well as developing products and sales strategies that align to client objectives.

Ms. Spehar joined GardaWorld from Bank of America where she was Senior Vice President, Group Operations Manager. Over her fourteen year tenure she was responsible for cash forecasting, fulfillment, transportation and logistics, vault operations and payments. Earlier in her career, she held positions at Union Planters Bank and the Travelers Group.

Ms. Spehar is a veteran of the U.S. Navy and holds a BS degree in business economics from Southern Illinois University.

Presentation synopsis: We’re on the cusp of changing the cash lifecycle. Vault outsourcing and smart safes were just the beginning. The four parties that have traditionally owned real estate along the cycle - consumers, banks, retailers and armored carriers - are shifting their positions along the curve. Emerging technologies, the cost of funds, fuel expenses and other factors are driving new collaborations to align competencies, improving end-to-end quality and efficiencies. Rather than looking at products to serve each segment of the cash life cycle, we now see it more holistically, integrating and reallocating roles such as forecasting, replenishment timing and routing. Cash is not decreasing, and handling it is becoming more complex. As parties reposition themselves along the cycle and remove barriers, a new, more streamlined cash management business model will continue to emerge.

 The Global Performance Benchmark Study by CPS – The Results and What We Can Learn

Keith WilliamsonKeith Williamson
Marketing and Product Director
Cash Processing Solutions (CPS) Ltd.

Bio: Keith joined the CPS division of De La Rue in 2008 as Customer Development Manager and was promoted to the Technical Sales Director in 2012. In 2014 Keith became the Marketing and Commercial Director, then subsequently became Marketing and Product Director in 2016. In this current role he is responsible for product marketing, product management, research & development and marketing communications. Prior to joining CPS, for 10 years Keith was a Strategic Product Manager at Future Electronics and was responsible for the sales and marketing of the Memory business unit within the Future EMEA business.

Presentation Synopsis: When running a cash processing operation, production optimisation is vital. That could be achieved by maximising machine availability, processing performance, process enhancement, and optimisation for different banknote characteristics. CPS has conducted a Global Benchmark study into the processing operations of central banks and commercial processors around the world collecting data on these criteria, focusing particularly on high speed and mid speed sorters. In this presentation CPS will share this data and insight and look at ways in which the results can help you optimise your cash processing operations.

Mr Williamson will also present in the Currency Production Symposium:

Quality Control – A Different Approach to Single Note Inspection 

Presentation Synopsis: Guaranteeing the quality of banknotes before they enter circulation is essential to ensure they meet the expectations of the central bank, both in terms of production quality and performance in circulation. Currently the quality inspection, using Single Note Inspection or sheet inspection takes place in the printworks. However, this presentation will explore the options available to central banks to evaluate for themselves the quality of banknotes they are receiving.