IBEF provides greater heating at the end of year
President of the Brazilian Institute of Finance Executives and Trade will
last minute orders, which will give extra breath for the industry in December
Growth Brazilian economy promises to strengthen the internal market in the coming months, at least while the Central Bank to keep benchmark interest rate, the Selic, upstairs. With inflation low and lower country risk, the results are reasonable and maintain the flow of investments. Wage negotiations and year-end Christmas bonus will take the consumer shopping and as provided by the President of the Brazilian Institute of Management and Finance (IBEF), Walter Machado Barros, "trade will be surprised at the resumes and put pressure on their respective industries with orders at the last minute. "
is precisely in order to discuss issues related to economic policies, to monitor the performance of the Brazilian economy and to contribute in funding the strategic planning of companies that IBEF, founded in 1971 in Rio de Janeiro, held annually in several Brazilian states, CONEFA - National Congress for Executives Finance. In September this year, on 15 and 16 - this time in Sao Paulo - took place the 16th edition, which was attended by about 400 participants. The theme "Finance XXI Century: Challenges and Opportunities" brought together several experts in the field and also teachers of FEA-USP, Getulio Vargas Foundation, Ibmec, among others, on technical panels focused on Financial Management. The idea of the meeting was to propose solutions in terms of financial management through the identification and analysis of issues affecting the executive and the institutions and the environment in which they operate. More than that: to show what's tendency to discuss the interface with other areas, HR, administration and marketing, for example, and discuss the skills that are required in the area.
If the idea is to understand what are the signs that the market has given and see how the steps will be pinched in the coming months, economists Barros, in the second administration of IBEF, states that "the economy is strong, independent the political crisis we are experiencing with contained inflation, foreign investor confidence, etc.. and there is a discrete response, almost invisible, that the private sector is playing its resumption of development projects. " He defines progress as something solid, but notes that the disputes can not go unsolved. Factors such as high taxation, the social security deficit, the high social charges on wages, contractual instability and even political instability have cluttered the path and therefore deserve attention.
Under the forecast that economic growth in Brazil will be repeated next month despite being an election year in which "there is a historical trend of flexibility in state spending," says Barros, the volume of jobs is also rising, according to forecasts. He even says that it already has happened. "It was a recorded increase in formal employment, as well as the strength of the informal economy and reducing inflation and therefore on prices of some segments."
Manager - You are president of the Brazilian Institute of Finance Executives of Sao Paulo - IBEF, in existence since 1971. What are the objectives of such an institution?
Barros - The mission of IBEF is to be an institution that brings together executives from finance to promote professional and social relationships, and provide technical improvement. He takes care to establish standards of ethical conduct, promotes the exchange of professional, close associates of public administrators and contributes to improving quality of life of its members.
Manager - How long have you occupied the presidency of IBEF? Which in its evaluation, is what differentiates this administration?
Barros - The status of IBEF provides two years of management, complete with a new mandate through election. I'm in my second term, which runs through February 28, 2007. The difference is in the management of innovation, since the formation of the components of the Executive Council, made the first term (2003/2004), and enhanced with the establishment of thematic boards on Monday (Capital Markets, Risk and Rating, Tax Issues, Standards Accounting and Economics and Research), and 52 directors members, all corporate executives representing segments of industry, commerce, service sector, financial institutions, capital markets and also of security.
Manager-In the Brazilian states that he is present? Are How many paraprofessionals?
Barros - IBEF Sao Paulo has about 1,200 members made up the largest unit of IBEF System, which is present in the following states, along with Sao Paulo, Rio de Janeiro, Rio Grande do Sul, Paraná, Santa Catarina, Minas Gerais, Espírito Santo, Ceará and Brasilia, totaling about 4,500 members.
Manager - IBEF is an affiliate of IAFEI - International Association of Financial Executives Institutes, based in Zurich, a global association made up of institutes of finance executives from 22 countries. The IBEF is the second largest Associate IAFEI? What is the importance of this exchange of know-how constant? Why IBEF sought rapprochement with IAFEI and from when this happened?
Barros - Before the spread of the concept of globalization, the IBEF was already affiliated with the international technical exchange / exchange for cultural experiences, the quest for innovation and still seeking the convergence of good financial management practices.
Manager - The institute has created back in 1984, the award "The Finance Executive of the Year. What are the requirements and what is the intention of rewarding financial professionals? Only incentive? Barros
The award "The Finance Executive the Year "is the recognition that the financial community makes to the professional area that has a bright professional performance and personal conduct above reproach. The professional choice is awarded the prize "The Wire". This award includes recognition of the business community and the media as the most important tribute paid to the Financial Executives in Brazil.
Manager - How is the choice? What are the criteria?
Barros - The choice is made in two shifts. In the first round, members of IBEF nominate colleagues they believe they deserve such a distinction. Through secret ballot, the Commission's Award choose, among these, three more names listed that will compete in the second round. The calculation is in charge of external auditing firm PricewaterhouseCoopers, which tells the IBEF the winner.
Manager - What is the difference of the prize award for "Outstanding IBEF?
Barros - Featured IBEF award is a tribute to the institute is for professionals who have excelled this year in their segments, and usually are chosen by appointment of three professionals and members of the Committee on Awards.
Manager - XVI CONEFA - National Congress of Financial Executives - was held on 15 and 16 September with the theme discussions of the "XXI Century Finance: Opportunities and Challenges." What are the biggest challenges in managing finances?
Barros - Work in finance in our country is an ongoing challenge. In the not too distant past, the biggest challenge of finance professional win was the daily struggle for inflation, preserving the assets of companies, the constant search for liquidity, to optimize profitability and, consequently, the continuity of the company while keeping intact the your net worth. Today, that struggle continues, but in a scenario that requires mastery of the mechanisms of global market and therefore the executive finance has evolved as the role of business. Corporate governance, investor relations, structured finance, project finance, derivatives, receivables loyalty, new market are issues that the finance executive should necessarily dominate in the search for funding and optimize operations to add value to the company.
Manager - The themes developed for the Congress intended, according to research executives offer "a comprehensive view of economic conditions and guidelines for public policy, helping to subsidize the corporate strategic planning for 2006." That was a goal reached the event? How many people attended the event? The business leaders who attended?
Barros - Congress sought to address the above issues through technical panels focused on Financial Management. They were presented by experts and professors of the most respected master's and doctorate from prestigious universities such as the FEA / USP and Ibmec, FGV and MACKENZIE. These panels were presented during the 15th and 16th September. We deal with micro and macroeconomics with lectures on various business leaders: Emilio Odebrecht, chairman of the Board of Odebrecht SA, Marco Antonio Bologna, TAM's CEO, Murilo Passos, director Superintendent of Suzano Papel e Celulose. We also had the Secretary of the Treasury, Joaquim Levy, the director of the School of Economics in São Paulo, FGV, Professor Yoshiaki Nakano, former finance minister and current President of the Board of Unibanco and Globex / Ponto Frio, Peter Malan, and finally, the President of the Supreme Court, Minister Nelson Jobim. The event was attended about 400 participants.
Manager - One of the panels was devoted to private. The focus was the approach the government with the PPP or trends of the development of the areas of finance as a whole?
Barros - The focus of the Panel Private initiative was the presentation and discussion of ideas and vision about the prospects for economic, social and political opportunities and challenges in light of the current situation.
Manager - In the panel devoted to public policy, the focus centered on the triad Socio-Economic-Financial, Tax Reform and Political Reform. Businessmen complain that investments in infrastructure are crucial to an exponential development of the economy. In practice, these investments do not occur because the government allocates resources to other areas. How to get around this demand in order to put the economy on a solid growth path and reduce state interference in matters structural?
Barros - The state intervention has been greater in structural issues. Today, the private sector has sought with some success, by its means, to overcome such situations. However, we still have much to do especially in infrastructure investments because of their characteristics only the state can attend. The solution passes through major structural reforms of the State: Tax Reform, Welfare Reform, Labor Reform, Political Reform. We need to identify groups of leadership in Congress to "play" these reforms. This is a government plan. The next election will certainly find a more mature electorate, more aware of the responsibility to vote. We are in a democracy and therefore, the solution is strengthening by the Legislature.
Manager - His undergraduate degree is in Economics and Accounting, in addition to other courses in Finance and Strategic Planning, right? In his view of economist, global GDP growth shows that the Brazilian economy is actually stronger?
Barros - The economy is stronger. This situation is the result of all this macroeconomic management developed by the Finance Minister and his team, particularly with regard to Treasury Secretary Joaquim Levy, President and Central Bank Henrique Meirelles, who, with different views often were complementary in order to manage inflation and raise funds abroad. The Brazilian economy is strong, regardless of the political crisis that we're through with contained inflation, foreign investor confidence etc and there is an answer discreet, almost invisible, that the private sector is playing its resumption of development projects.
Manager - Recovery of Brazil's growth is palpable?
Barros - It's consistent growth. Small but continuous. Surely it will be repeated in coming months, when there will be a revitalization internal market as a result of wage negotiations of the main economic categories. That will take place during the same period and also for irrigation of cash into the economy to pay the bonus.
Manager - What enabled this progress?
Barros - The breakthrough is a result of austerity in monetary policy applied by the holding high the economy's basic interest rate, the Selic rate. The consequences are obvious: low inflation - which points to a number of deflation, Brazil risk at low levels, unseen preference of investors in emerging countries etc.. This is an advance small, very modest in terms of factors that are yet to be resolved as a high tax burden, the social security deficit, the high social charges on wages, contractual and instability to political instability.
Manager - As the industrial sector, for example, has done to address the high interest rates and devalued currency?
Barros - has worked to reduce profit margins and the pursuit of increased sales by volume, time management of its growth projects and sought funding (financing) by which high interest rates are still avoidable: securitization of receivables, issuing debentures, conducting assets, financing of long-term projects with BNDES, and mainly managed its costs and expenses by reorganizing its manufacturing processes, reduction and / or postponement of administrative expenses.
Manager - Do you believe in a possible reduction of interest? What benefits it would bring?
Barros - I believe the Central Bank will reduce the Selic rate is slow, very gradual even with one eye on the domestic market, the factors of production - input prices and wage costs, but also attentive to the international market. Next year is an election year and there is a historical trend of flexibility in spending state, even in a climate of restraint in public spending. This fact would help to give a push in the market. But there is nothing "spectacular."
Manager - Household consumption grew by 0.9% in the second quarter of 2005, and 0.2% in the previous quarter (Institute for Studies in Industrial Development). What is it for?
Barros - Several factors contributed to this. Reducing the increase in unemployment was one of them. Was an increase in formal employment, as well as the strength of the informal economy and reducing inflation and therefore on prices of some segments.
Manager - What is the industry with the best potential at this time?
Barros-In the very short term, the segments that serve the consumer, for example, home appliances, garments, shoes, food. The trade will be surprised at the resumes and put pressure on their respective industries in orders in the last minute. I am convinced that the Brazilian, though in recent months, going shopping. As for other sectors, continue to see good performance of agribusiness, automotive, pulp and paper sectors linked to international trade.
Manager - training of finance executives, what are the competencies that define the professional accompanying market requirements concerning their own career?
Barros - Strategic vision and medium term, market focus, and negotiator who has zeal for the results are the qualities that finance executives will grow to meet market demands.
Manager - The growth and multiplication of university institutions have generated a seemingly perverse effect in some areas, for example law. There are courses in law who fail more than 80% of students in the examination of the Order. In other cases, administration, for example, there is a group of first-rate faculties such as FGV, PUC, USP and Mackenzie. In the area of finance, university education has been adequate to meet market requirements or the formation occurs even in company with the student received during the course, notions of what we find in practice?
Barros - The basic training of the finance executive, his undergraduate university, is supported by excellent educational institutions as mentioned in the wording of your question. Large companies enhance young financial executives through internship programs and training, seeking to integrate them into company culture. Thus, they contribute to the improvement of their qualification post-university. The highlight of this set of actions for the formation of the Finance Executive MBA's are women religious schools in the country. The National Conference of Executives in Finance, CONEFA, the IBEF showed the general public, the quality of these panels through these institutions. In concluding, I can say that higher education institutions are adequate to meet market demands with regard to a finance executive.
Manager - As the entity projects and recognizes emerging talent in the area of finance?
Barros - We are always in a state of attention to the young executive Finance seek and associate it with the entity. We are in the second edition of the Revelation in Finance IBEF SP / KPMG, open to youngsters up to 33 years of age who have university degree and concentration in finance. They must act in the financial area, in private, public and university. Revelation Award winner will receive $ 12,000 and still be a member of IBEF SP without charge in the first year and also receive a certificate issued by IBEF and KPMG.
Manager - HR's approach with other areas has become a strategic issue in many companies. How do you see HR interface with the finance in order to subsidize the business, valuing the workforce and respect the budget for training?
Barros - Today the Human Resources department is in the strategic business of any company that cares for its growth, its sustainability. Professional appropriately recruited, trained and inserted into a competent plan for internal development, will constitute a competitive advantage in the corporate strategy of any organization. Antonio Carlos Porto Gonçalves
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