Hello!
The days have turned into weeks and it goes faster and faster.
I am working in a department controlled by the Director Financial Reporting & Treasury. It is really a great “eye opener” in terms of the company’s finances, businesses, customers, and how everything is connected internally and externally.
Because it is very broad and comprehensive department, this has enabled me seen how we pay our salaries, pensions, how we manage our cash flow, how we qualify suppliers, how we work with credit to customers and how we collect debt funds etc. There are a variety of financial solutions for this. Before I started as a Trainee, I have worked in the workshop and when I was finished with a detail that then where sent to the customer, we used to say that now it is sold. Really, it’s not. When you go to the grocery store you pay the goods immediately and then you go. However, at GKN you do not know when you will get paid, the uncertainty is not so good for many different reasons.
Private persons know each month that they will get their salary at a specific day XY and adapt purchases accordingly. If you are playing with the thought that you do not know when you will get your salary next year. How would you plan your finances when you must pay the rent, book a trip, buy food or other investments? Difficult right. The same is for us at GKN, but it is the reality.
By spending time here dealing with all the different GKN Aerospace function finances and get an understanding of how it is to run larger companies, difficulties, opportunities and what type of work required. I am very happy and I am fortunate to be able to sit here even on my next rotation even though formal work in another finance function.
I have also a cross-function assignment between finance and commercial, through a “Continues improvement initiative”, which is decomposed from our strategies to increase competitiveness in the future. All our initiatives in all areas of excellence are in a so-called “Obeya Room”. More precise this is about increasing our forecast accuracy for our RRSP (Risk revenue sharing partner) contracts. For those of you who are interested in strategies to some extent try to read annual reports, these documents are filled with interesting information, markets, strategies, future within various industries and so on. More than economic data, as many believe.
Within a few days, a major bank are invited here to talk about risk management and business structures for dealing in South – South East Asia. I have been on many similar meetings through my education and I spent 1.5 years in Asia. They usually talk about the state of macro / micro economics and general matter. It will be interesting to see the difference on a company visit where the bank wants to sell their knowledge and support. Can one imagine that the Bank will respond to the question “what kind of support do GKN need in order to do business in these markets?” And of course have an answer to that.
As of today, the acquisition of Fokker through after legal process is done. It is an exciting addition with about 5,000 new employees, 21 new sites in nine different countries.
On Saturday I go to Prague and meet up with friends from my exchange in Switzerland, they come from the UK, France and Belgium.
#The only financial trainee in the group
#Combustion Engine Mechanics 7.5 credits
#Fokker Purchase
#Soon another trainee trip
# Exhibitions