The Association for Financial Professionals (AFP) and Wachovia last week announced MasterCard Worldwide as the 2007 AFP Pinnacle Award grand-prize winner.
The grand prize recognizes “innovative solutions to address cash management and financial challenges,” according to a statement from the AFP.
MasterCard was chosen from among three winners in the strategy, innovation and risk categories. MasterCard had won the risk category for its implementation of a corporatewide enterprise risk-management (ERM) system.
According to the AFP, The MasterCard Worldwide team “surmounted unique challenges” to successfully implement its system.
As a result of the ERM system, MasterCard experienced a reduction of key risks, risk-weighted decision-making and transparency of risk reporting, said the association.
Wachovia will make a $10,000 donation to MasterCard”™s charity of choice, AmeriCares. Based in Stamford, Conn., AmeriCares provides disaster relief and humanitarian aid around the world.
Â
