Treasurers are constantly faced with the challenge of managing the P&L and its key drivers. FX risk arising from balance sheet exposures can have a material impact on a company’s financial results and is often influenced by various sources of “noise.” Hedging and valuation are frequently linked to a specific target rate, which acts as a key driver of hedging effectiveness and therefore requires a precise and strategic management approach. HUGO BOSS AG partnered with Bank of America to develop an innovative, automated, FX transaction-based risk management solution to mitigate balance sheet currency exposures while minimizing balance sheet noise. In this session, we present the solution and describe the journey to get there.