Tasks to be completed when documenting an operation (from creation to publication)
1. Enter the Title of the operation / page
2. Add the following Labels:
Scope of applicability: ww, country_accounting
Country or group of countries (if applicable): belux, china, france, italy, lam, nam,uk_ie, bulgaria, dach, netherlands, iberia, poland, latvia, australia, india, japan, south_korea, thailand, singapore, new_zealand, emea_transversal, apac_transversal
Unit and Domain according to the List of labels to be used in the Finance Service Line space
- E.g. 1: WW Operation in Financial Accounting under domain "Central Finance Processes & Compliance":
- Labels to be used: ww, financial_accounting, central_fin_proc_compliance
- Labels to be used: ww, financial_accounting, central_fin_proc_compliance
- E.g. 2: France Operation in Financial Accounting:
- Labels to be used: country_accounting, france, financial_accounting
(for country operations, the Domain is always country_accounting)
- Labels to be used: country_accounting, france, financial_accounting
- E.g. 1: WW Operation in Financial Accounting under domain "Central Finance Processes & Compliance":
3. Fill in all fields as described above
4. Name the title of each section using OPD methodology naming convention - Infinitive verb without the “to”, mainly action verb...something) -" I do something..."
5. Once the description of the operation is completed, ensure it is approved and published by launching the SBS-Finance approval workflow
Domain: TSU Tools & BAM
Responsibility area:
Table of contents
Scope
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<< Stage 3 - I (TSU Tools & BAM) ensure that the Treasury Service Unit - Operations (TSU) reviews and validates. >>
1. Objective and Scope
1.1. Objective of this Operation
1.2. Scope
2. Definitions
See Finance Glossary:
- ...
3. Tasks description
3.1. I ensure that the Treasury Service Unit - Operations (TSU) reviews and validates.
3.1.1. The TSU Operations person responsible for the country of the legal entity will receive an action email asking to review the request and validate it or not. See Annexe 1 for a list of responsible people.
3.1.2. In case of a new legal entity, the TSU must verify if the company is already created on the central database (DILITRUST Governance and GAR-Legal Entity Management AODOCS). If not, an alert must be sent to Corporate Master Data and/or to GAR.
3.1.3. Complex cases of account (see Annexe 3) opening must be validated first by the Legal and/or Tax Department before taking any action. Such cases - but not limited to - are considered as complex:
- opening of a bank account in a bank not used before. Legal documentation must be reviewed;
- opening of a bank account in a country different from the country of a legal entity (for instance a resident bank account of Solvay SA in Poland). There might be a tax risk;
- creation of a new cash concentration model or adding an account from a new country to an existing cash pooling;
- opening of a bank account in tax havens.
3.1.4. Tax / Legal validation is not needed for “standard” requests, for instance, opening a bank account for an existing entity in a Solvay preferred banking partner such as BNPP or JPM.
3.1.5. TSU Operations is responsible for:
- checking if bank account is required due to compliance with local regulation (eg: one bank account mandatory for a new entity);
- analyzing alternatives in collaboration with the requester (and other departments when required) if the account is not mandatory and proposing a solution;
- require the input from Legal / Tax in case of complex case.
At this stage, the decision regarding the banking partner and the services associated with the account (banking platform, cash pooling, swiftnet) must be taken and updated in AODOCS.