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

      • 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)


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: Treasury Backoffice APAC

Responsibility area: Respect of Local Compliance

Table of contents 

By default the table of contents displays Heading 1 & Heading 2 (other levels can be added)


Scope

3. Remove the icon when not applicable


ERP

4. Remove the icon(s) when not applicable


Frequency

5. Remove the icon(s) when not applicable

 

References

6. Add the link to SAP transaction(s) (when it exists)



Forms

7. Insert the links accordingly and change the link text with the Form name



Attachments

8. Add the link to attachments or external links




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1. Objective and Scope

1.1. Objective of this Operation

WHY - Describe the objective of the operation


1.2. Scope

Detail the scope (legal entities, etc.)

2. Definitions

Definitions should be added in the Finance Glossary - Add definition and link it to respective Letter in Finance Glossary 

See Finance Glossary:

  • ...

3. Tasks description

WHAT and HOW - Main content of the operation

The content should be mainly organized in 2 levels of Headings to ensure a proper link with the Table of Contents.

Select the level of heading in the "Paragraph" option.

3.1. India

3.1.1 I prepare the regulatory filing (loan/deposits) as requested by local central banks - ECB-2 Return report for India

3.1.1.1 I prepare the ECB-2 return report to submit to Bank of America monthly in order to declare the loan activities in each month i.e. interest payment, new loan drawdown, principal repayment etc.

ECB-2 return report is Reporting of actual transactions of External Commercial Borrowings (ECB) which the source of loan are from outside India i.e. Solvay SA in this case.

3.1.1.2. I copy the ECB-2 return report from the last month file and update the transaction month to be the current month.

3.1.1.3. I check the loan activities in the current month from emails receiving from Corporate treasury team and update the data in each table of the report to reflect the actual transaction of each month.

3.1.1.3.1. In case of new loan draw-down, I update the data in part B: Disbursement of the report

In case of no new draw-down, I update "Nil" in part B: Disbursement of the report

3.1.1.3.2. In case of loan utilization, I prepare the list of loan utilization by receiving the support from Corporate Treasury team and also Payment team and also update the data in Part C : Utilization

If any remaining loan doesn't utilise in the month, I also update the remaining amount in Part C.2 

In case of no utilization in the month, I update "Nil" in Part C : Utilization

3.1.1.3.3. In case of principal repayment, interest payment in the month, I update the data in Part D: Debt Servicing

Interest payment

Principal repayment

In case of no principle repayment, interest payment in the month, I update "Nil"  in Part D: Debt Servicing

3.1.1.3.4. I update the loan outstanding amount of the month in Part F: Outstanding Principal Amount and also update the date of report preparation.

3.1.1.3.5. I update the table in page 5 of the report to reflect the loan activities in the transaction month.

Loan Draw-down

Interest payment

Principal repayment + interest payment

No loan activity in the month

3.1.1.3.6. I update transaction month and date of the report preparation in the "Certificate from Company Secretary / Chartered Accountant" part on page 5 of the report.

3.1.4. I send the ECB-2 return report file to Corporate treasury team in India for further co-signing with Company Secretary/Chartered Accountant.

** The report must be summited to local team for signing no later than D+1 of the month.

3.1.5. I receive the signed copy of the ECB-2 return report from the Corporate Treasury team in India for our record.

3.2. Thailand

3.2.1. Loan Outstanding with overseas lender

3.2.1.1 I receive the request from Bank of Thailand to submit the survey for loan outstanding with foreign lender (quarterly basis)

The submission deadline is within 1 calendar month after each quarter end.

3.2.1.2 I report the loan position and the lender in the report form provided by Bank of Thailand.

If the loan position has been reported in the last quarter and still outstanding and no change (no new loan or loan repayment), the highlighted fields are selected.

If the company still has loan outstanding with the foreign lender but the detail is changed (amount, lender, maturity date, etc), the highlighted fields are selected, and the loan detail must be provided in Section 2 of the report

Part 2

Example of report

3.2.2 Balance of Payment with overseas counterparties

3.2.2.1 I receive the request from Bank of Thailand to submit the survey for Balance of Payment with overseas counterparties on annual basis.

The submission deadline is within 5 calendar month after year-end.

3.2.2.2 I coordinate with respective teams to get the information of AR, AP outstanding for GOODS, payment terms, credit terms.

3.2.2.3 I report the trade balance in the report form provided by Bank of Thailand

Example of report

3.2.3 Overseas Investment

This is responsible by CAM. TSU can be the coordinator with Bank of Thailand if required

3.3 Indonesia

3.3.1 I renew the FX Statement Letter with the bank on annual basis.

This statement letter aims to declare how much of FCY Purchase against IDR or DNDF. This is relevant to FX Payments where PT Cytec Indonesia buy FCY to make the payment to overseas vendor.

Note: There are two types of letters need to be submitted, FX Statement Letter above USD100K and FX Statement Letter below USD100K

**Failing to declare this in advance of the calendar year may prevent you from any FX transactions**


The declared person must identify himself on the declaration form with the legal name and passport number. The company name and the company's tax number must be filled per below.

Together with the declared period. 

FX Statement Letter above USD100K 


FX Statement Letter below USD100K

The form shall be signed by the declared person and submitted to the bank by wet-ink.

3.4 Taiwan

3.4.1 I request local team to submit the FX declaration statement for Treasury Transaction (i.e. FX conversion) according to the requirement by CBC

Per CBC regulation, we need to report payment nature for all FCY payments.

If a FX wire involving conversion between TWD and foreign currencies – we need to report payment nature and we may require additional documentation depending on the transaction amount.

(i)                  Amount< TWD500,000, we need to report payment nature.

(ii)                Amount >= TWD500,000 equivalent, we need FX declaration statement

(iii)               Amount >= USD1MM, we need FX declaration statement + supporting documents based on payment nature.

The form is required to submit in wet-ink to BofA Taipei, so the local team is contacted to handle further.

Below is the communication from local team to bank for the selling of USD and buying TWD in amounting to USD 900k.

Example of the form

End of document.