Sibelco: Validating the control and compliance framework
Sibelco is a leading international industrial materials supplier. To ensure sound internal controls and an efficient, cost-effective validation of the control and compliance framework, the company called for CFO Services' expertise and support. Written by Caroline Maton and Mason Duede.
Material solutions
As a private global company that serves the focused raw materials needs of demanding clients around the world, Sibelco required robust, insightful support of business and governance processes.
Sibelco is a global leader in material solutions and sources, transforming and distributing an extensive portfolio of specialty industrial minerals. Sibelco’s solutions support the progress of modern life and serve industries as diverse as glass, ceramics, construction, coatings, polymers, metals and water purification.
The company employs more than 9000 people at 174 facilities in more than 31 countries.
“SCR Sibelco NV operates in extraction, production, and distribution of sand and minerals,” Bloomberg states. “The Company refines silica sands and flour used in the production of window panes, mirror glass, bottles, textile fibers, lab glass, LCD screens, table glass, and glass wool. Sibelco also extracts quartz, cristobalite, nepheline, plastic clay, and olivine minerals, worldwide.”
Co-sourcing Internal audit and controls
Due to the growth of its increasingly complex business, Sibelco decided to co-source its internal audit and control operations. The company specified the need to assure the highest standards in enterprise citizenship and process integrity.
TriFinance stepped in to provide immediate support. Knowledge of business processes, skills in finance and analytics coupled with our pragmatic approach to problem-solving were key in ensuring success.
Validating the control and compliance framework
Sibelco focuses on running and growing its business efficiently, allocating resources to that end. The company’s business landscape is varied and complex, with a wide variety of industrial materials produced in different countries with diverse regulatory requirements and cultural specificities. They called in TriFinance to ensure sound internal controls and efficient cost-effective validation of the control and compliance framework.
Project consultant Caroline Maton provided swift and efficient support in diverse cultural and regulatory environments. Caroline has expertise in several areas, including the implementation and validation of minimum general control and governance standards. She also worked on specific control validation of Supply Chain Management and in Procurement, Finance, Customer Service, Sales, Operations and Human Resources.
Sibelco counted on TriFinance’s ability to adapt quickly and efficiently. “Caroline was able to provide immediate value, her knowledge of processes coupled with a pragmatic approach to problem-solving were key success factors,” says Cedric Mulfinger, VP Group Internal Audit & Risk Management.
“Involvement in interdisciplinary areas and seeing how the company executes standard processes in diverse environments can boost your professional growth,” Caroline Maton says. “As does expanding one’s vision of how we can continue to serve other international companies in the future.”