Balance Sheet Substantiation
Year Bengaluru, Karnataka, India
Job Description
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Balance Sheet Substantiation - Assistant Vice President
Functional Job Title: Assistant Vice President- Expense Accounting
Reports to - Vice President
Background:
State Street Global Accounting Operations (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
- Project accounting
- Balance sheet substantiation and system to system reconciliations
- Transfer pricing
- Financial Systems Support
Goal of the position:
- Accountable to manage end to end Expense Accounting, reporting activities from GFC (Global Finance Centre).
- Partner with GPO to drive process and controls improvements and process automation.
- Successful delivery of Transformation & Re-engineering projects
- Perform month-end, quarter-end, and year-end close processes to verify, manages all entries have been created and posted, ensuring completeness, accuracy, and reporting integrity.
- Review, Analyze, Accrual Workings, journal entries to record accrued expenses in the correct period, amortize prepaid expenses and fixed assets while maintaining schedules that tie to the balance sheet.
- Ensure an accurate and timely period-end close by ensuring all transactions are recorded, journal entries are posted, accounts are reconciled where needed and consolidated at required level.
- Manage time to assist with ad-hoc projects and new transactions to support the GAO Accounting group.
- Provide support to key stakeholders of the team to present analytical results, findings.
- Own the Balance Sheet accounts for formal review & validate quarterly.
- Manager bank reconciliation open items and accrual accounts, against the supporting and facilitate any entries if required.
- Participate in or conduct a wide range of accounting and financial analyses on critical and complex issues which may include variance analysis and accounting transactions.
- May serve as a subject matter expert on a particular accounting transaction.
- Support with queries from regulatory authorities and external auditors
- Manage Process documents (SOP\'s, Flowcharts, Control Documents) are updated managed.
- Participate & contribute Re-Engineering, Automation and other ERP Implementation Initiatives
- Support overall team goals and objectives.
- Bachelor/master\'s degree in finance or MBA
- Accounting qualification (ACA, ACCA, CPA, CIMA)
- 10-12 years of progressive experience in Accounting Operations, Controllers in Record to Report.
- Experience of working in Controllership/Accounting teams in a Shared Services environment
- Extensive practical experience and knowledge of the US GAAP and IFRS accounting standards
- Experience of building and maintaining strong control environment (risk excellence, experience with SOX, RCSA controls, etc.), establishing procedures and strong internal controls.
- Experience of leading/working redesign, centralization, standardization and automation of R2R processes
- Experience of implementing accounting technology (Oracle, SAP) in a major institution
- Hands on experience in creating and maintaining strong control environment.
- Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices)
- Knowledge of Essbase, Oracle Financials
- Knowledge of Spotfire, Tableau, data analytics, Macros 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
- Self-motivated, self-assured, and self-managed
- Strong analytical and ability to analyze and summarize complex financial transactions.
- Strong attention to details & Problem-solving skill.
- Good knowledge of accounting concepts related to Profit and Loss Account and Balance sheet.
- Ability to prioritize workload, meet deadlines and manage multiple assignments simultaneously.
- Must be able to work in a fast-paced environment.
- Problem solving skill. & Strong attention to details.
- Highly organized with ability to multi-task and work under high pressure deadlines.
- Independent decision-making capabilities demonstrated thought leadership.
- Strong analytical and ability to analyze and summarize complex financial transaction.
- Senior-level communication skills, presentation skills, prior experience of interacting with multiple stakeholders (Legal Entity and Geography controllers) in NA, EMEA, APAC
- 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 analytical and ability to analyze and summarize complex financial transactions.
Job ID R-744382
ABOUT COMPANY
State Street Corporation
London, United Kingdom 39000 Employees Investment Banking / M & A
State Street Corporation (NYSE: STT) is one of the world\'s leading providers of financial services to institutional investors, including investment se...
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Job Detail
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Job IdJD3241406
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IndustryNot mentioned
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Total Positions1
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Job Type:Full Time
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Salary:Not mentioned
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Employment StatusPermanent
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Job LocationBengaluru, Karnataka, India
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EducationNot mentioned
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ExperienceYear