Job Description

Functional Job Title: : Balance Sheet Substantiation \xe2\x80\x93 Assistant Manager

Reports to : Balance Sheet Substantiation -Manager/Senior Manager

Department/ Division : Controllers/Finance

Location : Bangalore

Background:

Driven by the State Street Beacon initiative, functionalization of corporate functions and re-alignment of the Finance operating model, State Street has established Global Accounting Operations (GAO) in 2017. GAO is a process-driven function responsible for all record-to-report (R2R) processes within Controllers including:

• Integrated close and intercompany
• Revenue accounting
• Expense accounting
• Specialized product accounting
• Cash and deposit governance
• Accounts payable
• Project accounting
• Balance sheet substantiation and system to system reconciliations
• Transfer pricing
• Management allocations
• Financial Systems Support

Goal of the position:

• Partners with Line Manager to drive process and controls improvements and process automation
• Ability to partner with internal and onshore teams and ensure successful delivery of Balance Sheet Substantiation projects/initiatives

Key Responsibilities

Business as Usual (BAU) Activities

• Accountable for all operational reconciliation and substantiation processes performed in the Balance Sheet Substantiation Team
• Full ownership of timeliness and quality of the output, no backfall on donor entities or onshore Service Delivery Teams
• Ensure that accounting processes and procedures are followed and completed to support and reinforce key business objectives
• Ensure all Reconciliations are prepared in line with the requirements of the Balance Sheer Reconciliation Policy
• Ensure proper reconciliation controls are in place and are adhered to at all times and also monitor control effectiveness
• Identify potential risks and remediation of process deficiencies.
• Assist in the development of of additional controls and identification of preventative measures
• Assisting in Requirements gathering, Gap Analysis and Facilitate testing, record deviations, close gaps and ensure seemless BAU transitions
• Work closely with IT, Vendor and project team to improve the reconciliation process
• Creating procedures and keeping current procedures up to date per BSS Policy
• Meeting SLA requirements and maintaining high Balanced Scorecard ratings
• Escalate any issues to line manager and avoid any unfavourable impact on process delivery.
• Adhere to and complete all requirements of the GAO Control Hub
• Escalate any issues to line manager and avoid any unfavourable impact on process delivery.

Process Re-Engineering, Automation and Change Management

• Partnering with GPO, FRIBS and Technology to drive process re-engineering, automation and change management
• Continuous process improvement leveraging GAO ideation and issue tracking frameworks
• Implementation support of the GAO process re-engineering and automation (accounting technology roll-out, new entities set up, restructures, converstions)
• Partner with various teams and ensure successful delivery of the projects/initiatives of Balance Sheet Substantiation Team

Job Requirements:

Education and Experience:

• Bachelor/Master Degree in Finance or MBA
• 6-8 years of progressive Business analyst in Balance Sheet Reconciliation and Substantiation, Accounting Operations, Controllers, Business Controls, Finance & Risk Assurance
• Experience of supporting and maintaining strong control environment
• Experience of working with offshore support model
• Strong understanding of Oracle - Sub Ledger Accounting
• Practical experience and knowledge of the US GAAP and IFRS accounting standards.
• Technical experience in System design/Interfaces and data flow into ERP system is a plus

Skills required:

• Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices)
• Possess good levels of understanding of current technological platforms introduced by Oracle, viz : workday, ARCS, Oracle Cloud platforms, forms/reports , other development tools etc.
• Knowledge of Hyperion Essbase, Oracle Financials
• Knowledge of Spotfire, Tableau, Cognos data analytics and visualization (or similar) a plus
• Conceptual understanding of company-wide financial architecture (GL, sub-GL technology, specialized tools) applicable to the above process groups of processes
• Independent decision-making capabilities, demonstrated thought leadership
• Pride of ownership with the ability to deliver high quality results timely
• Self-motivated, self-assured, and self-managed
• Strong attention to details
• Problem solving skill
• Highly organized with ability to multi-task and work under high pressure deadlines
• Must be able to work in a fast-paced environment

State Street