Job description
- First point of contact for all Currency Management tasks for business; Support the Business/Project Commercial Managers in the identification of foreign currency risks & advise on mitigation of such risk including assessing the level of risk mitigation in case of currency clause usage
- Collate foreign currency exposure from business, review project cash flows together with the Project Commercial Managers and initiate consolidated hedge requests to Fx Trader; Monitor the outstanding hedge book and give timely updates to Fx Trader to initiate rollovers/cancellations based on changes to underlying exposures and expected cashflow. Identifying & hedging Balance sheet exposures in line with Siemens policy
- Provide rates for offer calculation to the business and monitor significant contingent foreign currency exposure, post updating the offer calculation rate every month
- Report monthly Net Foreign Currency Position and also, on a quarterly basis, report to board of Siemen on foreign currency & commodity exposure & hedging status
- Advise the Commercial Managers on the appropriate application of Hedge Accounting and the accounting impact of foreign currency transactions and support in the identification of Embedded Derivatives
- Management of Stakeholders - Must build transparency and trust across all partners; Collaborate effectively with business teams & other regional currency management teams outside India, implement standard methodologies, with a clear focus on digitalization & automation
Insurance Risk Management
- Overseeing all the Insurable risks and the management of the insurance service providers
- Governance
- Providing guidance to business on Insurance regulations and optimal coverage
- Defining and maintaining a processes that would ensure quick reporting and settlement of claims
- Ensuring that company always adheres to the insurance related regulations
- Placement of insurable risk in external market, in a transparent and cost effective manner, in alignment with the group policy and with the support of the insurance broker;Ensuring timely payment of insurance premium;Supporting internal stakeholders in identification of new risks and avoid over, under or multiple insurances
