BANK ACCOUNT MANAGEMENT J. Goossens - Treasurer TRAINING LAF 2009

Training LAF BANK ACCOUNT MANAGEMENT - OBJECTIVES After this presentation, the participant should be able to:  Explain and apply current procedure for opening and closing of bank accounts  Explain and correctly use bank account mandates  use Bank Account Tool (BAT)

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Opening / Closing procedure Objectives: - Explain and apply bank account opening procedure - Bank account opening REGIE (DB & local) - Bank account opening COGESTION - Explain and apply bank account closing procedure

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Opening / Closing Procedure Objectives: - Explain and apply bank account opening procedure “Deutsche Bank” Cfr. procedure

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Opening / Closing Procedure Objectives: - Explain and apply bank account opening procedure “Local Bank (REGIE)” Cfr. procedure

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Opening / Closing Procedure Objectives: - Explain and apply bank account opening procedure “Local Bank (COGESTION)” Cfr. procedure

Training LAF BANK ACCOUNT MANAGEMENT – Bank account opening / Closing procedure Some Practical Examples Details: see exercises

Training LAF BANK ACCOUNT MANAGEMENT - OBJECTIVES After this presentation, the participant should be able to:  Explain and correctly use bank account mandates

Training LAF BANK ACCOUNT MANAGEMENT – Bank account mandates Facts: - Differences between mandates, confirmed by bank and projects / representations - No double signatures on bank account - Wrongly used authorisation limits

Training LAF BANK ACCOUNT MANAGEMENT – Bank account mandates Principles to be applied:  4-eyes principle = double signature  NO EXCEPTIONS!!  Maximum amount  depends on who signs  Highest amount  Preparation payments  By financial staff

Training LAF BANK ACCOUNT MANAGEMENT – Bank account mandates Overview current (bank) mandates (in €): FUNCTIONMANDATE Employé Projet / représentation A5,500 Responsables Projets B12,500 Responsables Representations C67,000 HQD1,500,000

Training LAF BANK ACCOUNT MANAGEMENT – Bank account mandates Possible combinations (General) MANDATE (in €) WHO? 5,500A+A 12,500A+B 67,000 A+C B+C 1,500,000 B+D C+D D+D

Training LAF BANK ACCOUNT MANAGEMENT – Bank account mandates Specific combinations (Representation, incl. project implemented by representation) Signature 1 Signature 2 LIMIT (in €) COMMENTS Res RepMAF67,000- Res RepLAF67,000- MAFLAF-Seggregation of Duties!! Res RepPO67,000only in absence of LAF LAFPO5,500 - in longer absence of Resrep and - with written authorisation from resrep

Training LAF BANK ACCOUNT MANAGEMENT – Bank account mandates Specific combinations (Project REGIE) Signature 1 Signature 2 LIMIT (in €) COMMENTS Resp. project RES REP67,000- Resp. project PO12,500 - in longer absence of Resrep and - with written authorisation from resrep Project straff Project Staff5,500 - in longer absence of Resp. Project and - with written authorisation from resp. Project Resp. Projet LAF- Seggregation of Duties! (LAF checks accounting) NOTE: if signature needed from Representation  given by MAF and RES REP

Training LAF BANK ACCOUNT MANAGEMENT – Bank account mandates Specific combinations (Project COGESTION) Signature 1 Signature 2 LIMIT (in €) COMMENTS PartnerRES REP67,000- PartnerResp. Project12,500- PartnerProject Staff5,500only in exceptional cases PartnerPO5,500-

Training LAF BANK ACCOUNT MANAGEMENT – Bank account mandates Some Practical Examples Details: see exercises

Training LAF BANK ACCOUNT MANAGEMENT – Bank account mandates Conclusion ALWAYS DOUBLE SIGNATURE  Anti-fraud function  Control function  reduce risks for mistakes  Money  Belgian Government / other (inter)national institutions ZERO TOLERANCE

Training LAF BANK ACCOUNT MANAGEMENT – Bank account mandates Bank Account Mandate vs. Mandate BANK ACCOUNT MANDATE MANDATE Authorisation given by Board of Directors HQ Board of Directors Scope Authorisation of payments Commitment of BTC: - enter into contracts - issue public tenders - opening bank accounts - making payments - order goods, … Signatures Double

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Tool Objectives: - Explain and use the Bank Account Tool - Manage local bank accounts via BAT - Manage mandates on local bank accounts via BAT - Manage reporting of local bank accounts via BAT

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Tool Why a Bank Account Tool? - +/- 900 bank accounts worldwide - +/- 40 different banks - double signature on every account - different signature combinations possible NEED FOR CLEAR VIEW ON BANK ACCOUNT MANDATES

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Tool Cash management Project – Where are we? - Information on bank account & signatories gathered from BTC / Banks - Clean-up of current information in Bank Account Tool

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Tool Cash management Project – Next steps - Exhaustive and correct list of all bank accounts by end of June ‘09 - Confirmation of all signatories towards different banks by HQ - Gradual implementation of BAT in all countries

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Tool - use The Bank Account Tool (BAT) is a functional analysis web-based tool to manage bank accounts and powers of attorney. What is BAT?

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Tool - use

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Tool - use Projects: -overview of all open/closed BTC- projects -Accounts: - overview of all open/closed BTC bank accounts for specific country - Employees: - management of employee database - Reports: - reporting tool

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Tool - use Some Practical Examples Details: see exercises

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Tool - use INVOLVEMENT OF HQ IN BAT -entry of new banks  via request to HQ -entry of new employees  inform HQ -entry of new users  via request to HQ -allocation of mandates  to be approved by HQ

Training LAF BANK ACCOUNT MANAGEMENT – Bank Account Tool - use Help needed? - manual - e-learning tool (via intranet – Q-platform) - HQ

Training LAF BANK ACCOUNT MANAGEMENT Q & A

Training LAF BANK ACCOUNT MANAGEMENT Thank YOU!!!