Finance Functions

Thinking and acting economically in relation to chemistry

 

Covestro’s global CFO team manages the economic processes of one of the world’s leading companies in the area of high-quality polymer materials.

The members of our CFO community manage all of our company’s business processes – from the company headquarters through to every business unit and every Covestro site. They work together on complex tasks with a group-wide impact, which pose new challenges for them time and again, and ensure that their own work results are directly visible.

In turn, new employees will find a working environment that encourages a high level of dedication and open, inspiring teamwork. You will have cutting-edge tools and analysis procedures at your disposal which will enable you to think proactively and to prepare, to influence or even to make strategic decisions yourself to lead Covestro successfully into the future.

The CFO community has more than 1,000 committed colleagues around the world. They are not only committed to ensuring Covestro’s financial success but also to following a common goal: They want to MAKE sure that in the future, their colleagues in research and development, production, or sales are also in the position to develop breakthrough solutions from their ideas that will MAKE our world a better place to live in. That is your contribution to our vision: WE MAKE the world a brighter place.

 


 

“If you enjoy thinking and acting economically and are interested in the economic processes within a company that produces on a worldwide basis, Covestro’s CFO community offers you highly attractive prospects: Be there when sustainable values are created out of and with chemistry.”

 

Frank H. Lutz, CFO of Covestro

 

 

Departments and their roles

Positions in the departments of Finance, Accounting and Controlling

Finance

The Finance department safeguards our cash flow. It makes sure that Covestro does not run out of liquid assets. And it ensures we have the necessary financial resources for implementing our corporate strategy. By keeping capital cost to a minimum and reducing insecurities regarding changes in market prices and insurance fees, our financial management contributes significantly to increasing Covestro’s value.

Accounting

Our accountants provide information about Covestro's financial development to executives, shareholders and other stakeholders.

Our Headquarter is home to external accounting and the business units' internal business partners as well as the transaction accounting and global process design departments.

Covestro’s accounting department, with its arsenal of tools and technologies, contributes substantially to increasing Covestro’s value for our stakeholders.

Controlling

Our Controlling supports the executives’ decision-making processes by providing respective information and recommendations. Covestro’s controllers analyze the financial status quo, set targets and forecast financial developments. Ultimately, they are our company’s economic conscience – and a key factor in creating added value.

Tax

As a multi-national company, Covestro is subject to a range of national tax laws. Our tax specialists provide comprehensive advice, prepare tax returns and support the business units during audits. They are also responsible for tax planning in a complex international environment which includes tax risk management to avoid double taxation.

Portfolio and Project Management

The Portfolio and Project Management oversees company acquisitions, divestments and joint ventures at Covestro. They manage the M&A process and coordinate resources for internal and external analysis. The Portfolio and Project Management department supports our executive board from the early assessment of acquisition opportunities to the planning and implementation of strategically important projects.

Investor Relations

Investor Relations is responsible for relating with our actual or potential shareholders. They encourage investors – investment funds, pension funds and insurances as well as private investors – to invest in Covestro. Investor Relations managers also mediate between the capital market and Covestro by providing feedback on what capital market participants want and need.

Law, Patents & Compliance

The motto of the Law, Patents & Compliance department is “Thinking Ahead”. As a business partner it aims to avoid legal risks and help the business units succeed in the long run. They MAKE sure the company acts in accordance with all laws and regulations – also known as compliance – in order to ultimately strengthen the company’s reputation and to promote its strategic objectives. Long-term corporate success also relies on the protection of our intellectual property. We protect the company from serious financial losses or reputational damages. True to our motto we give advice enabling Covestro to pursue its objectives while minimizing risks.

Information Technology

Digital processes and solutions are key to our business from research to sales. With its intelligent and needs-oriented services and solutions, the IT department gives impulses to the organization, thus contributing to Covestro’s success. Our IT specialists keep up-to-date with the latest trends and translate them into digital solutions. It’s all about close cooperation: The IT department is in constant dialog with the business units, focusing not on technical aspects, but solely on the benefits for our business units, users and customers.

CFO Community plus

The Corporate Audit department is also part of the CFO Community, even though, in organizational terms, it reports directly to the CEO as an independent entity.

Corporate Audit provides impartial advice and auditing services to all of Covestro’s business units and departments. It provides support to our managers in efficiently governing global business processes and safeguards the long-term success of our operations by checking their efficiency and the effectiveness of internal controls.

 

 

 


 

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Last Update: May 22, 2017   Copyright © Covestro AG
URL: https://karriere.covestro.de/opencms/opencms/en/how-to-join-us/functional-areas/finance---accounting---controlling/