Imagination at work

GE Capital TreasuryCDP Internship OverviewBrady Boyer

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2 05/03/2023

Brady Boyer

Back

grou

nd

CDP Intern – Treasury

eFinance Team Manager: Lou

RodriguesJune 1 – August 7,

2015

Wha

t I’v

e do

ne a

t G

E

Inte

rnsh

ip P

roje

cts

Education• Penn State University • MAcc Program (Accounting and Finance) Personal• Hometown: York, Pennsylvania • Have a younger brother in the Navy • Living in 101 Park Place this SummerHobbies & extra-curricular• I enjoy playing sports; played Soccer an Volleyball

in HS • Favorite sports teams: Penn State, Steelers, Heat,

Flyers • Watching TV and movies Summer activities

• Played on a GE Capital summer league soccer team

• Volunteered at Treasury Patio Picnic, Health Ahead Day

• 2nd Place in Treasury Volleyball Tournament (at Picnic)

• Attended the Treasury Beach day• Bowling and mini-golfing with the CDP’s• Went to the Belmont Stakes with fellow Interns • Went to a Yankees game with CDP’s• Volunteered at habitat for humanity, and soup

kitchen• Studied for the business section of my CPA exam• 1st Place in Volleyball Tournament (Health Ahead

day)

eFinance reportingCompleted

Activity monitoringIn progress

Limit booking errorsNot started

3 05/03/2023

eFinance and reporting simplification

Project Overview: • Look for ways to simplify the statutory

reporting process and time by reducing unused ledgers

Key Steps:• Identified statutory ledgers • Found the domicile country for each

BLE and compare to the statutory ledger • If country of domicile matches one of

the statuary ledgers then the ledger is needed for that BLE and reporting process is unchanged

• If the country of domicile doesn’t match one of the statuary ledgers, then we perform additional analysis (see next slide)

Business impact: • By reducing the number of statutory

ledgers we can simplify ledger structure, reducing potential number of manual journal entries, and reduce reconciling efforts

Project Overview: • Build processes to monitor both

Treasury activity being recorded to LE 001 and total GECC balances

Key Steps:• Used Discoverer to build reports for

each of the GE Capital business units • Tied each of the business units back to

ACE (consolidated ledger) to ensure accuracy of reports

• Create a monitoring process• Use the created process to monitor

transactions booked as a result of Project Hubble

Business impact: • Ensure that transactions booked as a

result of Project Hubble occur accurately, and to the proper accounts.

Project #1: eFinance reporting

Project #2: Activity monitoring

Americas

Asia

EMEA HQ

Treasu

ry

Real E

state

GECAS

EFS

ACE0%

40%80%

Percent complete

Started

Remain

ing

Remov

ed0

1020 25

15 10

Capital statutory ledgers

4 05/03/2023

Decision process for removal of statutory ledger

Look to see where balances are located

Yes No

Are entered balances on P/L

activity?

Are entered balances on balance

sheet activity and retained earnings.

Can be removed.Follow up with controllers to

confirm ledger is not needed.

Ledger can be removed.

Are their current entered balances?

If multiple ledgers contain balances.

If only Statutory ledger contain

balances.

Ledger can be removed.

5 05/03/2023

eFinance and reporting simplification

Project Overview: • Look for ways to simplify the statutory

reporting process and time by reducing unused ledgers

Key Steps:• Identified statutory ledgers • Found the domicile country for each

BLE and compare to the statutory ledger • If country of domicile matches one of

the statuary ledgers then the ledger is needed for that BLE and reporting process is unchanged

• If the country of domicile doesn’t match one of the statuary ledgers, then we perform additional analysis (see next slide)

Business impact: • By reducing the number of statutory

ledgers we can simplify ledger structure, reducing potential number of manual journal entries, and reduce reconciling efforts

Project Overview: • Build processes to monitor both

Treasury activity being recorded to LE 001 and total GECC balances

Key Steps:• Used Discoverer to build reports for

each of the GE Capital business units • Tied each of the business units back to

ACE (consolidated ledger) to ensure accuracy of reports

• Create a monitoring process• Use the created process to monitor

transactions booked as a result of Project Hubble

Business impact: • Ensure that transactions booked as a

result of Project Hubble occur accurately, and to the proper accounts.

Project #1: eFinance reporting

Project #2: Activity monitoring

Americas

Asia

EMEA HQ

Treasu

ry

Real E

state

GECAS

EFS

ACE0%

40%80%

Percent complete

Started

Remain

ing

Remov

ed0

1020 25

15 10

Capital statutory ledgers

6 05/03/2023

Process of creating discoverer reports Add desired items to the report

Create conditions to present only desired data

Full list of conditions Ensure consistency among all reports

7 05/03/2023

What I’ve learned this summer• Different types of ledgers (local, reporting,

statutory)• Complexities around financial reporting in a

multinational corporation • Mass amount of data GE is required to store