State Street India | Global Accounting Operation - Senior Manager

Responsibility for ongoing process improvements

• GAO is a process-focused organization responsible for the majority of the record-to-report (R2R) activities performed at State Street.
• To achieve this objective, GAO has been structured into several distinct global units each is responsible for all aspects of selected major groups of R2R activities, such as Close & Consolidation, Revenue/Expense Accounting, Payroll Accounting, Intercompany Transactions, Specialized/Product Accounting, Cash/Deposit governance and others.
• The Officer will be responsible for the review and preparation of accounting revenue accrual entries and reporting under US GAAP.
• This individual should possess extensive operational knowledge and should be subject matter expert in the area of accounting related to ASC 606 Revenue recognition which will include
• Apart from the above requirement the candidate should have a complete overview of the Revenue process and should be readily in involved In RAW implementation for project reengineering.
• Driven by the Beacon initiatives, functionalization of the corporate functions and re-alignment of the Finance Operating Model, State Street has established the Global Accounting Operations (GAO) organization in 2017.
• Booking of Revenue accruals for SF for Investment Services in Ledger.
• Develop subject matter expertise in all aspects of the products under responsibility including operational aspects of a particular accounting transaction.
• Participate in or manage function specific projects as needed.
• Ensure high quality and completion of deliverables within the committed timeframe. Team deliverables revolve around.
• Coordinate month-end close including prepare / review manual journal entries and export accounting system reports.
• Prepare account reconciliations and certification.
• Prepare Regulatory, SEC, and Internal reporting.
• Perform Accrual Pack for IS Revenue.
• Prepare and update process narratives/procedures and flow charts.
• Participate in Ad Hoc projects and new transactions.
• Perform user access reviews & certifications.
• Perform analysis to support intercompany transfers, prepare automated transfer processing file, validate transfers, and prepare manual journal entries.
• Assist in implementation of the GAO process re-engineering and automation efforts.
• Ensuring month end closure
• Monitor P/L movement for Revenue
• Process Misc adjustments related to RAW and ORMB
• Perform SOX control testing
• Accounting systems maintenance and upgrade

Requirements

• Knowledge on AR and Revenue Transactions.
• Should have “owner’s mind set”, work independently, and effectively manage timelines.
• Master’s Degree in Accounting, Chartered Accountant (CA) and Certified Public Accountant (CPA)/MBA-Finance with 10-12 years of progressive experience in R2R areas with major financial institutions.
• Extensive practical experience and knowledge of the US GAAP and IFRS accounting standards for the above areas, experience with other accounting standards (German, etc.) is a plus.
• In depth knowledge of Accounting for Certain Investments in Debt and Equity Securities ASC 320 former FAS115.
• Understanding of international regulatory landscape, experience with statutory accounting/reporting groups across several major international geographies.
• Experience of building and maintaining strong control environment (risk excellence, experience with SOX, RCSA controls, etc.), establishing, procedures and strong internal controls.
• Extensive experience performing day-to-day accounting operations, month-end and quarter-end activities for the above areas of accounting.
• Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices).
• Knowledge of Hyperion Essbase ,Oracle Financials.
• Knowledge of Spotfire, 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.
• Excellent communication skills, prior experience of interacting with multiple stakeholders (Legal Entity and Geography controllers) in NA, EMEA, APAC.
• Pride of ownership with the ability to deliver high quality results timely.
• Strong analytical ability to analyze and summarize financial transactions related to the products supported.
• Highly organized with ability to multi-task and work under high pressure deadlines.
• Must be able to work in a fast paced environment.
• Experience working with multi-geographical processes process
• Experience with R2R (record-to-report) centralized processes
• Self-motivated, self-assured, and self-managed
• Strong attention to details

State Street

State Street Corporation is a US financial services company headquartered in Boston, Massachusetts, with roots that go back to 1792. It is one of the world's largest custody banks and asset servicers: pension funds, mutual funds, insurers and other institutional investors rely on it for custody, fund accounting and fund administration, middle-office and data services, while its investment management arm, known for the SPDR exchange-traded funds, manages money for institutions and individuals.

In India, State Street works mainly through State Street Corporate Services Mumbai Private Limited, with offices in Bengaluru, Hyderabad, Mumbai, Pune, Chennai, Coimbatore, Gurugram, Noida and GIFT City. These teams serve State Street's global clients in fund accounting, NAV calculation, fund administration and financial reporting, reconciliations, transfer agency, regulatory reporting, risk and technology — work that suits B.Com, M.Com, CA, CMA, CFA and MBA (Finance) profiles.

• Industry: Financial services — custody, fund services and investment management
• Headquarters: Boston, Massachusetts, USA
• In India: Offices in Bengaluru, Hyderabad, Mumbai, Pune, Chennai, Coimbatore, Gurugram, Noida and GIFT City (Gandhinagar)