Tracy Yu is a finance director at Lubmarine Asia Pacific based in Hong Kong. Her remit is wide and critical to the business, covering functions ranging from budget planning, internal control and IT to compliance within a complex and dynamic regulatory landscape. She manages this with stringent list-making and clockwork schedules but lets off steam outside of work with hikes in nature.
How did you come to work for Lubmarine Asia Pacific?
After working for TotalEnergies China for 5 years, I wanted to expand my knowledge and experience. In TotalEnergies China, I was not very close to the nitty gritty of real on the ground business. I wanted to know how a business unit, like bitumen or lubricants, is run – I thought it would be very interesting. So, I was very lucky to find this position.
I came over in Jan 2020 for a visit after I got the job and to do a handover with my predecessor. Then I went back to China and then lockdown hit! So, I had to stay in China for several more months before flying to Hong Kong with my daughter in July 2020. That period of waiting and lockdown was not easy!
What are your roles and responsibilities?
I lead the finance team with 10 subordinates. I take care of the finance, treasury, budget, internal controls, compliance, purchasing and IT functions for Lubmarine Asia-Pacific. I am the interlocutor with HQ regarding issues about finance, tax, budget, quality control, legal and compliance. I have to ensure the compliance of local rules and regulation.
I coordinate the implementation of policies and procedures and the delegation of authorities. I exercise the control of compliance, support efficient and effective operations and am in charge of any issues with these regards including ensuring compliance in purchasing with the applicable laws.
What priorities do you have?
Budget coordination and planning is very important for us. We have a number of regular activities that must be executed with excellence such as our quarterly DMA (*) meetings and our annual management review and business continuity plan reviews for all branches of our business.
Economic sanction and compliance are part of our main focuses in our daily business and need reinforced vigilance from our teams. We put in a lot of effort to ensure we are fully aligned with the latest compliance programmes To achieve this we are supported by our Legal Department.
This is a huge remit – how do you keep up with so many workstreams?
Every day is very different and has new topics and new things to manage. I have regular meetings with my subordinates – and they also know they can come to me any time with any issues. And of course, I have a tight schedule. Each day I have a to-do list to manage everything!
With such a busy job, how do you relax?
I need to keep healthy to keep up my energy levels for my work! So, out of the office, I like to go hiking and jogging and I love outdoor sports. Exercise is very important for me to keep my energy levels high and improve my work efficiency. I also love travelling – I travel home to Beijing to see my family and I also love travelling to other countries. But right now, I am looking forward to having a camping trip with my family by the seaside in Hong Kong.
(*) DMA: French acronym for Découvert Maximum Autorisé, i.e. maximum authorized overdraft / credit limit.