BMS’ Sandra Ramos-Alves: empowering the treasury team
Published: Jun 2025
Woman of the Year – The Americas
Overall Winner
Sandra Ramos-Alves, Bristol Myers Squibb
Sandra Ramos-Alves
SVP & Treasurer
Bristol Myers Squibb is a global biopharmaceutical company which aims to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. The company, which is headquartered in Princeton, New Jersey, employs over 30,000 people around the world, and reported annual revenues of US$48.3bn for 2024.
Treasury Today’s Woman of the Year award is designed to recognise women who demonstrate real innovation and achievement, while acting as a role model to others. This year’s overall winner of Woman of the Year – The Americas is a highly experienced treasury professional who does exactly that: Sandra Ramos-Alves, Senior Vice President and Treasurer at Bristol Myers Squibb (BMS).
Since she joined the company in 2019, Sandra has played a pivotal role in transforming the treasury team into a model of innovation and efficiency. She has achieved this by instilling trust and psychological safety, embracing a speak-up culture, and empowering members at all levels of the organisation. In the past, the BMS treasury team had scored poorly on employee pulse surveys – but under Sandra’s leadership, the treasury team has now achieved leading scores within the finance function.
“Sandra’s leadership in treasury operations at BMS has been nothing short of transformative,” comments Ashish Saraogi, Senior Director, Benefit Investments at BMS. “Sandra joined the BMS treasury team after our Celgene acquisition. She quickly became a mentor for many within the team and helped identify many process inefficiencies. She was never shy of challenging the status quo, which then led to some innovative solutions.”
These solutions have resulted in numerous quantifiable improvements, with Sandra overseeing the implementation of cutting-edge technologies that have streamlined processes and improved efficiencies across the board. Under her guidance, the treasury team has generated substantial cost savings of more than US$30m, instilled a cash culture, and optimised over US$400m in working capital.
The impressive achievements of the BMS treasury team have been recognised in numerous industry awards over the last few years, including Treasury Today’s Adam Smith Awards programme. In 2023, BMS was the overall winner in the highly competitive Top Treasury Team category, and the company was subsequently named highly commended winner in the same category in 2024.
Valuing diverse perspectives
As well as driving operational efficiencies and cost savings, Sandra actively promotes diversity of opinion and inclusion within the treasury team. As Ashish explains, Sandra “has created an environment where diverse perspectives are not only welcomed but are seen as essential to the team’s success.”
A champion of cross-functional collaboration, Sandra has influenced the implementation of policies that further inclusion. These include supporting the involvement of treasury team members in the company’s employee resource groups (ERGs) and working with HR to support unbiased recruitment processes and ensure that job postings reach a broad audience.
Sandra also promotes inclusive behaviours and equips team members with the tools needed to foster an inclusive work environment.
“I strongly believe Sandra’s success in leading large, diverse teams in the US and Europe is a testament to who she is – her compassion for others and her unwavering commitment to her guiding principles,” says Wayne Cheng, Director, Corporate Insurance, Treasury at BMS. “There is a quote our treasury leadership team often says to Sandra when faced with a challenge: ‘You cannot make everyone happy’. Sandra refuses to accept that answer.”
Furthermore, Sandra’s dedication to mentorship is evident in the role she plays in promoting diverse talent and mentoring the next generation of leaders. She was nominated for Mentor of the Year by her team at Celgene, which was acquired by BMS in 2019, and has overseen the implementation of mentorship programmes in the BMS treasury which focus on supporting the career development of underrepresented groups.
“I am deeply honoured and humbled to be named Woman of the Year – The Americas. This recognition is a testament to the incredible support of my team and I am profoundly thankful for their unwavering belief in our shared vision. I am committed to delivering exceptional results while cultivating an inclusive and collaborative environment that values diverse opinions and drives better outcomes. Thank you for this incredible honour.”
Above and beyond
Beyond her achievements in the corporate sphere, Sandra is also proactive in undertaking meaningful voluntary work, as well as in promoting a greater understanding of neurodivergence and mental health.
In 2023, she served as am ambassador for BMS GIVES (Global Initiative for Volunteerism and Engagement) and spent time in Eswatini helping to prepare budgets and a grant proposal to continue supporting patients with cervical cancer. She mobilised fundraising efforts to support local children and patients, with her team of four raising over US$7,000.
Sandra subsequently assumed the leadership role for BMS GIVES and assembled a new team to streamline processes, and facilitate future volunteer opportunities for BMS employees in Sub-Saharan Africa.
Last but not least, Sandra is a fervent advocate for neurodivergence and mental health – causes that she champions both within the company and beyond. She is passionate about helping parents understand their rights and is excited about an upcoming opportunity to be part of a parent support group within BMS.
As Kevin Ciok, Managing Director, Healthcare Corporate Banking at Citi, summarises, “Sandra has raised the profile of treasury, not only within BMS but across the corporate space, showcasing publicly how a transformed organisation that embraces the future and welcomes change can add a unique value to any organisation.
“Most of all, though, Sandra is a wonderful person who shares her authentic self, bringing who she is to work for both her team and her banks.”
Treasury Today Group’s Within Awards celebrate exceptional talent and dedicated individuals changing their corporations from within. To find out more please visit treasurytoday.com/women-in-treasury/awards/
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