![](https://videnumeris.com/wp-content/uploads/2024/01/Projekt-1.png)
Role: | Head of Group Cost Management |
Period (Duration): | 01/2013 to 04/2020 |
Company: | Trafigura |
Industry: | International commodity trading |
Revenue: | USD 135 Bn.. |
Employees: | 4,500 |
Situation at the client: | Set-up of a new Shared Service Centres in Mumbai, which led to the offshoring of the function |
Place of Business: | Amsterdam, Singapur |
Internet: | www.trafigura.com |
Responsibility:
- End-to-end responsibility for the overhead costs of the entire group (USD 500Mio)
- 35 staff
Mission:
Accounts Payable:
- Ensuring the correct accounting of incoming invoices and their timely payment
- Managing bank accounts in different currencies (treasury)
Management Accounting:
- Monthly reports to those responsible for cost centers
- Monthly adjustment of the forecast at the end of the year
- Cost allocation
- Annual budget preparation
Payroll Accounting:
- Ensuring the correct accounting of the payroll
- Reconciliaiton of payroll accounting with headcount
- Monthly adjustment of staff planning (forecast) with corresponding calculation of costs
Measures:
- Aufbau eines standardisierten Berichtswesen mit monatlichen Berichten an die Kostenstellenverantwortlichen und das Board
- Teambuilding:
- regelmäßige vor-Ort Abstimmung mit dem Team
- Einführung wöchentlicher On-on-On Gespräche mit den Teamleads
- wöchentliches Status-Meeting
- Standardisierung der Prozesse und Eliminierung von „Sonderfällen“
- Establishment of a standardized reporting platform with monthly reports to the cost center managers and the board
- Teambuilding:
- Regular on-site coordination with the team
- Introduction of weekly One-on-Ones the with team leads
- Weekly status meeting
- Standardization of processes and elimination of “special cases”
Successes:
- Recognized cost allocation of overhead costs to trading desks
- Stabilization of the team structure and increased length of stay
Special Challenge:
- Building a completely new team in the Shared Service Center without being able to fall back on existing structures
- Lack of reputation of the role when taking over, which resulted in a difficult basis for discussions