1. www.controllerverein.com Controlling - Creating Future
Publisher: International Controller Association ICV | Poznań Office
Dear Readers!
With the new year we have new goals and new ICV top
topics. In 2014, along with volatility and sustainability, we’d
like to concentrate on controllers’ and CFOs’ career! Your
personal development is as much important for the Asso-
ciation as the development of your company! Therefore
this year we’ll answer questions like:
 What are problems and challenges of the volatile
times? What are the chances?
 What's important for sustainable ecological activities
and sustainable "green" controlling? How to „go gre-
en”?
 How does the role of a controller change? What does
our future look like?
Volatility and sustainability were among the topics touched
on at the 8th International Controller Congress in Poznań.
We you’ll try to bring the speech of professor Rainer Kal-
wait closer to you!
How the finance world will look like in the future, predicts
Stephan Göppert in his article “The Future of Finance – will
be more nuanced than we expect”. It’s a new article trans-
lated into English from the German “Controller Magazin
2/2014”. Another one we’d like to recommend you is
“Working abroad as Financial Controller for the Airbus
Group in Toulouse, France – Finance Controlling at a
glance” by Thomas Hubert — it’s published on our home-
page!
As in every issue you’ll read about one of the Board mem-
bers. This time it’s going to be… Karl-Heinz Steinke,
the last of us! He’s a wonderful exam-
ple how to combine a job with a pas-
sion!
Much pleasure while reading!
Spring is the time of new ideas — so
don’t miss the chance and use them!
Good luck!
Yours
Dr. Adrianna Lewandowska
ICV Board Member
International
Controller Association
ICV Bulletin | April 2014
In this issue:
 The Future of Finance – will be more nu-
anced than we expect
 Working abroad as Financial Controller for
the Airbus Group in Toulouse, France –
Finance Controlling at a glance
 Karl-Heinz Steinke —Board Member
In February 2014 BARC and the ICV surveyed 400 companies
in the “BARC Planning Survey”. For the first time, the number
of “Controllers” has been determined: 100,000 in Germany -
equipped with very good academic and professional education.
Many of them will meet the 39th Controller Congress in Mu-
nich organized by the ICV on May 19-20 to listen to the
speeches of our experts and exchange experience and con-
tacts among other professionals from the branch.
Controlling has never been as important as today; nor has
it been as challenging. Volatility has become the “new
norm”, where companies must recognise opportunities
and risks early enough and must act appropriately and
quickly. This is where they fall back onto Controlling - the
teamwork between managers and controllers. But how
many controllers are there really? Across Germany,
around 100,000 employees can be classified under the
professional job description of a “Controller”; this has
recently been determined for the first time.
The challenges faced by Controlling are greater today than
ever before. Early detection is required, as well as simplified
planning, which must be supplemented with dynamic elements,
such as rolling forecasts. Processes and organisations change
as much as the tools; the role of the controller trans-
forms into that of a business part-
ner of the management. The train-
ing requirements for a controller
are correspondingly high.
That’s why the ICV invites you to the an-
nual Controller Congress „Successful
Controlling methods and instruments in
the praxis”. Find out more on http://
www.controllerverein.com/
CC_Programm.154228.html.
We’re looking forward to seeing you!
Controlling has never been as
challenging as today — visit the
39th Controller Congress in Mu-
nich and find out what the
trends are!

2. ICV Bulletin | April 2014
Controller Magazin Article translated from German
The Future of Finance – will be more nuanced than we expect
By Stephan Göppert
CFOs today have an unprecedented opportunity to influ-
ence policy and impact the bottom line—if they are will-
ing to accept the changing role of finance itself, and
learn to think outside the traditional boxes.
Experts from finance’s every corner talk about becoming
more strategic business partners, moving from the role of
advisor to business activist, and espousing the benefits of
various sourcing models that make this shift possible. But
these are only reflec-tions of fundamental changes in the role
of the overall finance function.
Traditionally, finance has played three core roles: custodian,
commentator, and counselor. These will not change but their
requirements, and what defines and contributes to success,
have undergone fundamental changes.
Focus shift from singular to multi-polar objectives
As financial leaders, we used to drive performance on a re-
stricted set of strategic and financial objectives applied con-
sistently across a set business line or geographies, and
measure and report our progress. Variation was to be
avoided.
This new, multispeed environment requires different optimi-
zation mindsets. To meet larger business goals, any global
organization must simultaneously focus on different objec-
tives in different markets. Making life even more interesting,
sub-segments exist within these broad swathes where differ-
ent business optimization goals would be relevant.
In every economy, product category and demographic, op-
portunities and risks play out differently. How the finance
function helps set objectives, measurement models and in-
centive structures can mean the difference between captur-
ing opportunities and losing out to competitors.
The biggest challenge is to change mindset. Customer reten-
tion is a competitive differentiator, yet how many companies
have truly changed their view of the customer service cen-
ter? How many have made the leap in perspective from
viewing it as a cost center focused on driving optimization
levers, to it being the channel for customer loyalty and
growth, focused on a very different set of metrics and behav-
ior?
Management shift from discrete to systemic risks and
opportunities
We know risk. It’s what we’re always advising others to con-
sider, calculate or avoid. It is our core job, and for the most
part we have been good at it. We know how to profile cus-
tomers; we have credit reports, algorithms and models that
allow us to assess the health of corporations we do business
with. Regulations and tools help us price financial products
and risk. We have honed techniques such as failure mode
analysis and impact scores which help us prioritize key ac-
tions against each individual risk.
However, we now need to understand systemic risk, or the
“domino effect,” one of the core lessons of the financial mar-
ket collapse. In a seamlessly integrated world, an event in a
country 10,000 miles away could wipe away a product’s prof-
itability through spiraling and cascading commodity inflation.
These situations cannot be linearly modeled. We need real-
time visibility into potential impact as well as the ability to
iterate response options. While the most obvious danger of
not understanding systemic risk is a huge business failure
when bad things happen, the ongoing risk is missing oppor-
tunities for maximizing performance.
Flexibility is the key to opportunity
Future successful financial functions will be determined by
their ability to spot an opportunity and create a flexible or-
ganization that can respond with agility. Typically, we focus
on maximizing ROI for our current investments, and only
then make fresh bets. We are conditioned to think of our
resource options as a closed network of what we directly
control and can directly access. This inhibits speed. In finan-
cial markets, fractions of seconds determine the difference in
money made or lost in security trades. In the physical world
of goods and services, speed of response to opportunities
and threats will determine success or failure.
To build a flexible enterprise, the CFO needs to see re-
sources from a wider perspective. Just because you don’t
have something today doesn’t mean you won’t need it tomor-
row. How quickly can you access new cost-effective re-
sources or shed services you no longer require? Fortunately,
the business world now is able to provide flexibility in almost
© International Controller Association ICV | Poznań Office

3. ICV Bulletin | April 2014
© International Controller Association ICV | Poznań Office
any aspect from outsourcing to payables to crowd-sourcing
for innovation.
Investment shift from big bets to modularity
There will always be trailblazing corporations where a singu-
lar commitment to a big bet will pay off, changing industry
and consumer trends. For the majority, the new variability
and uncertainty have changed the traditional investment
models focused on NPVs and ROIs. In an economy where
uncertainty about any projection rises geometrically with
every month in the time period, the shortcomings in such
conventional metrics for making big decisions have been
dramatically exposed.
Investment decisions need to be like buying options. The
underlying logic may change unexpectedly, so the flexibility
to continue, modify or abort the bet is crucial. This is true
from how a CFO thinks about the organization to deciding on
a production location; from creating a network for innovation
to keeping options open on your supply chain. Strategies
being adopted by pharmaceutical companies in what used to
be the holy grail of big bets — core R&D — reflect both
modularity of investment and a flexible business model.
Change is hard and this shift is significant, but it’s also excit-
ing. Never before has the finance function had such an op-
portunity to impact the bottom line. We’re no longer expected
to ride along in the passenger seat, observing and reporting.
Now we have unprecedented access to the navigation and a
unique experience and perspective that makes us perfectly
positioned for the new role. We just have to take the controls.
STEPHAN GÖPPERT
Vice President Germany, Genpact
Ltd.
Alsbach, Germany
Tel: +49 (0)6257 4069952
http://germany.genpact.com
This field report aims to convey interesting information on the
subject of working at international level to the reader and to
offer an insight into the working environment at Airbus. Here,
I will present my own experiences, address the requirements
of my own company and offer recommendations on various
aspects of mobility. I will then take you on a trip into the fi-
nancial world of Airbus and discuss the subjects of planning,
reporting and business partnering. Given that Program Con-
trolling is of great importance in the company, I would like to
conclude by presenting “Earned Value Management” (EVM)
as a Project or Program Controlling Instrument.
Monday morning, 7am, airport Finkenwerder the Airbus lo-
cation Hamburg. Hamburg is the office of the executive bo-
ard of Airbus Germany and with around 12,000 employees, it
is the biggest location in Germany. Worldwide, the Airbus in
Hamburg are on the following areas: cabin development cen-
ter, development and production of the forward division em-
ploys about 59,000 staff. This means that almost every em-
ployees of the 133,000 Airbus group employees is working
in the field of aircraft construction. The core competences
and aft fuselage sections as well as equipment of the fusela-
ge sections with all flight-essential systems for the entire
Airbus fleet. Hamburg is one of final assembly lines for air-
craft of the A320 family (A318, A319, A320, A321). From
here, the final assembly of the aircraft takes place and are
delivered to customers all over the world. The A380, the
flagship of the Airbus fleet, receives the cabin definition, the
interior furnishing and the painting. Hamburg is as well the
delivery centre for customers in Europe and the Middle East
for the A380. The plant boasts many years of experience in
the overall process chain, from structural assembly and equ-
ipment installation through to final assembly and painting.
Each week 1100 employees fly from Hamburg
to Toulouse
It is a typical morning at the airport in Finkenwerder. Five
days a week morning and evening, an A319 departs on the
own Airbus airport towards Toulouse in the south of France.
In Toulouse, German and other European colleagues from
all specialist areas come together to make their contribution
to the transnational Airbus work sharing. Today, I am one of
these colleagues and as a Financial Controller I am heading to
France with around 1100 other Finance employees within the
Airbus Division. Little did I suspect of the experiences to come,
when I decided to change my path and move to France a few
years ago. At Airbus, a change of job can happen very sudden
and quickly.
More: http://www.controllerverein.com/News.125051.html
Controller Magazin Article translated from German
Working abroad as Financial
Controller for the Airbus Group
in Toulouse, France – Finance
Controlling at a glance
By Thomas Hubert
Airbus Industry Locations

4. ICV Bulletin | April 2014
© International Controller Association ICV | Poznań Office
order and look for a new one. For increasing our company
value, for the social good, for our clients, for us. Being still
responsible for the financial results of the company, but also
for the corporate social responsibility.
We hope that the knowledge, experience and contacts from
the Congress will allow you to prepare even better for the
role of the manager’s partner supporting the innovative com-
pany development.
Next year we invite you the 9th international Controller Con-
gress on April 23-24, 2015!
The topic of the Congress aroused controversy: what’s the
connection between controlling and innovation? Can control-
ling be innovative? Should it be innovative? And if yes, how?
What exactly is an innovation? On these questions answered
our experts during their speeches, but also you, participants,
contributed to the conclusions during the panel discussion.
It’s beyond doubt that in such volatile times controlling must
stronger and stronger stimulate innovative solutions. We’re
responsible for searching for chances, creating changes,
starting difficult sometimes discussions that destroy the old
After the 8th International Controller Congress
“Innovative Controlling Solutions”
One of the most interesting lectures during the 8th
Inter-
national Controller Congress was the last presentation,
delivered by professor Rainer Kalwait from Germany.
For several years professor Kalwait has been a Member
of the Board of the Risk Management Association e. V.,
which deals with the problems of risk management. His
speech was dedicated to risk management as a chal-
lenge associated with planning and control.
The main message of his presentation was to make the con-
trollers present at the Congress aware of the fact that allow-
ing for risks in their everyday analyses was of crucial impor-
tance. A project which at first glance seems fine, may be
rejected after the application of a risk analysis which takes
into account the probability of its success. An important ob-
servation which inspired the lecture was that each and every
calculated risk should be treated as probable to some extent.
However, an analysis which assumes a 100% chance of
occurrence of a given risk is unacceptable.
Yet another aspect of the lecture was to locate risk within the
structure of the controlling system. Currently our systems
often fail to contain this element. They are based on the ra-
tional components of a given analysis, failing to give consid-
eration to certain possible events. As maintained by Profes-
sor Kalwait, today's modern controlling must allow for risk, its
identification, evaluation, classification and reporting. It is
most often accomplished through the analysis of scenarios.
As a result of this process, a model is created which includes
the main course of the planned events as well as the possi-
ble deviations which may arise when taking certain events
into account. It is nothing but corridor planning, which gives a
much broader look at the result of the analysis and the possi-
ble scenarios in a given situation. A summary thus prepared
allows us to make more informed business decisions. In this
case, defining the risks and opportunities for a given project
becomes a very valuable ability of the controller. The control-
ler does not have to, or even should not do it on their own.
This process should be carried out in cooperation with appro-
priate department managers.
In the conclusion of his speech, Professor Kalwait empha-
sized the fact that corridor planning is becoming increasingly
important today. Obviously, businesses face many problems
related to risk management, however, it is worth focusing on
their identification, and then trying to solve them, in order to
be able to make decisions based on certain scenarios.
How to successfully manage
risk in a company?
By Robert Panufnik
CFO, Vistal Construction Sp. z o.o.
Leader of the ICV Work Group Gdańsk, Poland
ICV member

5. © International Controller Association ICV | Poznań Office
ICV Bulletin | April 2014
A man of continuity
Worked at Lufthansa since 1974, is married since 1974.
Continuity in the life od Karl-Heinz Steinke, Board Mem-
ber.
He wanted to see the world, so in his youth he decided to
complete an apprenticeship as air traffic officer with Luf-
thansa. When there was no field service opening for the
freshly qualified young man, he landed in the “Central
Department of Business Administration” of the Deutsche
Lufthansa AG by chance in 1974. Karl-Heinz Steinke
(61), member of the Executive Board of the International
Controller Association (ICV), would leave neither the
company, nor the area of business administration
throughout his professional life.
At first, he examined the subjects of economic efficiency
of flight routes and the economic employment of aircraft
in an advisory role. He completed his studies at the dis-
tance University in Hagen (Westphalia) while continuing
to work and graduated successfully in 1981. Later on, he
gained further experience in Investment Controlling, as
well as in the Controlling of the Sales and Marketing of
the Deutsche Lufthansa AG. His first managerial tasks
i n c l u d e d
the Control-
ling Man-
agement of
D e u t s c h
Lufthansa
AG’s cargo
sector, as
well as the
project management of a sub-project in the spin-off and
independent legal establishment of the cargo sector of
the Deutsche Lufthansa Group into the Lufthansa Cargo
AG in 1994. Karl-Heinz Steinke then managed the Fi-
nance and Account Division of this new company for 7
years, before being appointed as Head of Group Audit-
ing. From 2001 until 2012 he was Head of Group Control-
ling. His areas of responsibility included the operational
group planning, group reporting, and controlling for large
projects and investments, as well as the development of
risk management systems. At the start of 2013, Karl-
Heinz Steinke ended his professional career and he now
enjoys some sort of “pre-(non)-retirement”.
A few years ago, Steinke joined the ICV and its govern-
ing bodies due to his close professional cooperation with
Prof. Dr. Dr. h.c. Jürgen Weber, ICV Chairman of the
Board of Trustees for many years. This is how Karl-Heinz
Steinke became a founding member and Head of the
newly established ICV expert group “Green Controlling”;
he is active in an ICV project team for the restructuring of
the content management system and was elected as a
member of the Executive Board of the association at the
General Assembly in May 2012.
Continuity
character-
i s e s
S t e i n k e ’ s
professional
and per-
sonal path.
Married in
1974, this father to two grown-up children has always
sought - and found - a balance in his family life by travel-
ling, hiking, reading and cooking. He has already turned his
love affair with Lufthansa into a hobby; as a member of the
Executive Board of the Trust
Deutsche Lufthansa Berlin-Stiftung. Here, he primarily dedi-
cates himself to the preservation of historic aircraft and the
traditional flight. The world-famous Ju 52 is the flagship and
it has now been flying - also thanks to the
Lufthansa-Stiftung - for a whole 75 years. When Karl-Heinz
Steinke says that “Auntie Ju” will manage another 100
years of flight, one tends to believe it.
Hans-Peter Sander
ICV Press Manager
And the cycle is over! After Siegfried Gänßlen, Prof.
Heimo Losbichler, Conrad Günther, Dr. Walter
Schmidt, Marcus Haegi and Dr. Adrianna
Lewandowska, in this issue we present the last
Board Member with tongue in cheek: Karl-Heinz
Steinke. He’s in the ICV Board since May 2012.
Your Bulletin Team —in the hope that the Board has
sense of humor...
When there was no field service opening for the freshly
qualified young man, he landed in the “Central Depart-
ment of Business Administration” of the Deutsche Luf-
thansa AG by chance in 1974.

6. We’d like to invite you to compete for our annual reward:
Controlling – Newcomer Award 2014. The aim of the award
is to support Controlling – Newcomers and to spread innova-
tive and practical ideas among the Controlling Community.
Awarded will be innovative master or bachelor theses
written at any European university after April 30, 2012. The
right of nomination have thesis promoters. The theses can
cover a wide spectrum of controlling topics and
can be written in German or English. The Jury
– controlling practitioners and universities’
representatives – will award scientific cha-
racter, innovation’s level and possibilities
of practical use of the ideas described in the
thesis. Controlling Newcomer Award (worth
4,050 EUR) is sponsored by Haufe Verlag and
Haufe Academy and it will be given to 2/3
authors and 1/3 promoters of the the-
ses. Additionally, all winners will be
given International Controller Association
membership for one year with the sub-
scription of the Controller magazine. The
award will be given on November 15, 2014 at
the 14th CIB in Berlin. All applicants are authori-
zed to participate at the CIB free of charge.
More: http://www.controllerverein.com/
Awards.158549.html
ICV Bulletin | April 2014
Imprint
Publisher and Copyrights:
International Controller Association
Public Relations Committee
Editing
Brigitte Dienstl-Arnegger
Dr. Adrianna Lewandowska
Hans-Peter Sander
Anna Włodarczyk
International Controller Association
ICV Office Poland
Ul.Fredry 7/1
61-809 Poznań PL
Phone/Fax +48 61 853 20 10
Mail: anna.wlodarczyk@icv.pl
Non-German speaking work groups
Bosna and Hercegovina
Slavko Simić, bono@blic.net
Bulgaria
Denko Yamboliev, denko@excite.com
Croatia
Jasmina Očko, jasmina.ocko@kognosko.hr
Great Britain
Milena Heim. milena.heim@gmx.net
Estonia
Toomas Haldma, toomas.haldma@ut.ee
Hungary
Budapest 1
Ervin Nemesdy, nemesdy@mce.hu
Budapest 2
Andreas Kovacs, akovacs@mcskft.hu
Poland
Gdańsk
Robert Panufnik, rpanufnik@gmail.com
Katowice
Anna Jarkulisz, anna.jarkulisz@arcelormittal.com
Kraków
Dorota Gołąb-Bełtowicz, dbeltowicz@bonifratrzy.krakow.pl
Lublin
Katarzyna Żuławska, katarzyna.zulawska@icv.pl
Łódź
Karolina Zielińska, karolina.zielinska@icv.pl
Poznań
Dariusz Gulczyński, dariusz.gulczynski@icv.pl
Szczecin
Aleksander Socha, aleksander.socha@ramirent.pl
Toruń
Andrzej Derkowski, andrzej.derkowski@neuca.pl
Warszawa
Karol Sikora, karol.sikora@icv.pl
Wrocław
Honorata Ulatowska, honorata.ulatowska@icv.pl
Zielona Góra
Małgorzata Lepak, malgorzata.lepak@icv.pl
Romania
Cristina Hodea, cristina.hodea@gmail.com
Russia
Valentin Usenkov, zhoom@mail.ru
Serbia
Bojan Šćepanović, mcb@eunet.rs
Slovenia
Dragica Erčulj, dragica.erculj@crmt.com
Spain
Ulrich Müller Bosom, ulrich.mueller.bosom@gmail.com
The English Bulletin is not the only publication of the ICV!
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