Global Cost Management: Teamlead for commodity trader after offshoring

Aufbau und Leitung eines Teams für die Group Cost Management Funktion eines großen globalen Rohstoffhändlers nach dem Offshoring dieser Funktion in der Rolle als Group Cost Manager

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