An association of companies whose members conduct benchmarking
studies to identify the best practices surrounding corporate financial
risk management that improves the overall operations of the members.
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Benchmarking is the most cost effective way of introducing
best practices to your organization.
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What is Benchmarking?
Benchmarking is a collaborative learning process among
a group of companies to focus on specific operating practices, compare
measures and results and identify improved processes within their organizations.
Key Components
- Data gathering in the form of detailed surveys of measures and
processes;
- Identification of best performers; and
- Site visits to the best companies.
Benchmarking Looks at Best Practices
- Internally among divisions;
- Within the industry; and
- Outside the industry - “out-of-box”.
CFRMBA™ Mission
To identify "Best
in Class" corporate financial risk management processes, which,
when implemented, will lead member companies to exceptional performance.
CFRMBA™ Objectives
To conduct benchmarking studies of important corporate
financial risk management processes.
To create a cooperative environment where full understanding
of the performance and enablers of "best in class" corporate
financial risk management processes can be obtained
and shared at reasonable cost.
To use the efficiency of the association to obtain process
performance data and related best practices from corporate
financial risk management processes.
To support the use of benchmarking to facilitate corporate
financial risk management process improvement and
the achievement of accuracy, timeliness and efficiency.
CFRMBA™ Membership
The scope of CFRMBA™ membership includes individuals
who work in corporate
financial risk management in major corporations.
Company membership will be considered with
respect to compliance with CFRMBA™ mission, goals and operating
guidelines, as well as, qualification of the organization within
the scope of membership.
Participation in specific efforts will be optional
and open only to members with costs shared by the participants. Members
pay only if they join a specific study. Currently, membership in
CFRMBA™ is free. We reserve the right to review membership applications
and to make the final decision whether or not to accept any application.
Consulting firms are ineligible for membership.
CFRMBA™ Benefits of
Membership
Studies:
CFRMBA™ will
identify and present to members opportunities to participate in Benchmarking
studies on various topics addressing
issues of importance to the corporate
financial risk management functions.
There are two types of Benchmarking studies provided:
Consortium studies are offered to the membership as a
whole with costs divided.
Single company sponsored studies addressing the interest
of one member company can be offered to other selected members for
no fee.
The association will
also support corporate
financial risk management benchmarking efforts:
Research - Access public and private databases.
Identify study participants
- Top companies in corporate
financial risk management.
Collect data - Manage response collection with the participants
as a third party.
Lead site visits - Structured with best participants.
Roundtables:
Interest group roundtables
will be organized throughout the year. Members will pay a nominal fee
to join real and virtual roundtable
discussions that address specific billing
process management processes.
Cost:
Currently, membership in CFRMBA™ is FREE! Costs
of studies are shared by the participants.
Become a CFRMBA™ Member
To become a member of CFRMBA™, click
below.
On-Line
sign up application
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