CHERRY HILL, N.J., Nov. 6, 2013 /PRNewswire/ -- A new national survey from TD Bank, America's Most Convenient Bank ®, reveals that middle-market and corporate CFOs are more confident about both their organizations' ability to manage financial risk and the financial prospects for their companies, indicating the potential for increased business investment in the months ahead.
"What we're seeing, both through this survey and in our interactions with clients, is a more positive outlook about the economic environment and the business opportunities coming out of the recession," said Greg Braca, Executive Vice President and Head of Corporate & Specialty Banking at TD Bank. "Well over a third of the CFOs surveyed expressed that they're more confident in the U.S. economy, and more than half viewed their organizations' prospects in the same vein. CFOs feel better equipped to manage risk, which will enable them to take a more active approach to investing and expansion, even if the economy improves at a slower pace than we'd like."
Nearly two-thirds of respondents reported being more confident in their ability to manage risk, with 25 percent of CFOs sharing an increased appetite to take on risks. The enthusiasm is tempered somewhat by the prospect of future regulatory change and uncertainty, with more than a third of respondents naming regulation as their top concern moving forward.
Proactive Risk Management Breeding Confidence Many respondents said that since 2008, their organizations have taken proactive measures to manage risk through internal controls and procedures, increased accountability and evaluation of business relationships. The TD Bank survey found that more than a quarter of organizations addressed concerns, primarily by:
- Increasing visibility into the company's cash position (49.7 percent)
- Increasing and enhancing risk reporting (38.3 percent)
- Adopting a more conservative approach to financial risk (36.9 percent)