Centralised Treasury Management Siemens Financial Services Ltd., China Han, Ling (Helen)
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1 Centralised Treasury Management Siemens Financial Services Ltd., China Han, Ling (Helen) SFSL Page 1
2 Agenda Siemens Global - Central Treasury Siemens China Treasury - an integral part of Global Central Treasury Ultimate Centralization in Treasury China 1 2 Treasury Managers 3 4 Challenges & solutions In Treasury China Today s treasury managers in China are becoming lobbyists, first-movers and project managers! SFSL Page 2
3 Siemens AG SFSL Page 3 SFSL Page 3
4 Revenue by Regions SFSL Page 4
5 SFS--Organization Our organization structure reflects the needs and expectations of our customers within and outside of Siemens. Business units activities and key figures COF Commercial Finance PSF E Project & Structured Finance Energy PSF IC & I Project & Structured Finance Infrastructure and Cities & Industry PSLF H Project & Structured & Leveraged Finance Healthcare INS Insurance Siemens Financial Services Management Ronald Chalors Browne CEO TRE Treasury FIM Financing & Investment Management Peter Moritz CFO VC Venture Capital Equipment Finance & Leasing Financial Advisory Debt Finance Financial Advisory Debt Financing Financial Advisory Debt Financing Insurance Solutions Treasury Solutions for Siemens Asset Management Venture Capital & Private Equity Vendor Finance Equity Investments Equity Investments Equity Investments Leveraged Finance Private Finance Solutions Working Capital Finance Total asset: 6.9 billion Total asset: 4.5 billion Total asset: 3.0 billion Total asset: 3.7 billion Max Transferred risk to market: 90 billion Total asset under management: 72.7 billion Total asset under managem ent: 14.1 billion SFSL SFSL Page Page 5 5
6 Central Treasury Global Set-Up Iselin Siemens Capital Company LLC Munich Siemens AG Beijing Siemens Financial Services Ltd. Hong Kong Siemens AG In house bank/rtc Operating Companies SFSL Page 6
7 Central Treasury Approach The Group Treasurer shall be in-control of all Treasury activities worldwide Securing the access to funding Supporting the group s competitiveness and company value Objectives Performing Risk Management Functionalities in terms of market price, credit and counterparty risk Minimizing all-in cost of financial and treasury operations SFSL Page 7
8 Central Treasury Framework Constitution: Definition of mandate, finance and risk strategy and their clear and consistent communication Governance: Group Treasury strategy, organization, policies, end-to-end process landscape, performance indicators and TRE IT architecture Execution: Implementation and operation of Treasury activities in the daily business Control: Continuously measure, monitor and improve efficiency and effectiveness of handling financial risks SFSL Page 8
9 Central treasury activities Siemens Operating Companies Siemens In-house Bank concept Banks Risk Management Treasury Systems Payments Financial Risk Payments Funding Financial Risk Funding Cash and Liquidity Management Intercompany Clearing Payment Factory Financial Accounting & Reporting Payments Financial Risk Payments Funding Financial Risk Funding Bank Account Management The In house Bank creates transparency over central and local financial transactions and respective financial risks SFSL SFSL Page Page 99
10 Agenda Siemens Global - Central Treasury Siemens China Treasury - an integral part of Global Central Treasury Ultimate Centralization in Treasury China 3 Treasury Managers Challenges & solutions In Treasury China Today s treasury managers in China are becoming lobbyists, first-movers and project managers! SFSL Page 10
11 Awards SFSL Page 11
12 Domestic RMB Centralization Loans/Deposits Bank Draft Discounting Domestic intercompany settlement/rmb payment automation SFSL RMB Money Market Investments Cash Pooling Bank Accounts Management SFSL Page 12
13 2012 NOW RMB Internationalization SFSL Page 13
14 The Reach of SFSL in China SFSL Page 14
15 2012 NOW Foreign Exchange Centralization Bank Account Reduction Receipts (ROBO) ICC, 3rd party FX settlements per currency (forward) Payments (POBO) ICC, 3rd party SFSL FX FX settlements per currency (spot) Cash Pooling SFSL Page 15
16 Agenda Siemens Global - Central Treasury Siemens China Treasury - an integral part of Global Central Treasury Ultimate Centralization in Treasury China Treasury Managers Challenges & solutions In Treasury China 4 Today s treasury managers in China are becoming lobbyists, first-movers and project managers! SFSL Page 16
17 Challenges & Solutions Customers In-house Bank Suppliers Control Framework Treasury Banks... Challenges: Linked FX purchase and payment process Regulatory authorities In-house Bank Supporting document check Employees Local Banks Linked BOP and payment process Investors Group entities.. Inconsistency with tax regulation Financial flow Rules SFSL Page 17
18 Case Study: ROBO Objective Scope Problem ROBO Solution ROBO is one of the very last steps to achieve ultimate centralisation in treasury! SFSL Page 18
19 Contacts Han, Ling (Helen) Siemens Financial Services, Ltd Beijing China Phone: Mobile han.ling@siemens.com SFSL Page 19
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