Balance Sheet Substantiation - Assistant Manager

• Functional Job Title: Assistant Manager - Expense Accounting

Reports to - AVP

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
• Each global process above is managed by a Global Process Owner (GPO) who owns all aspects of BAU production work, process re-engineering, and automation.

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
• Responsibilities & Tasks
• Perform month-end, quarter-end, and year-end close processes to verify all entries have been created and posted, ensuring completeness, accuracy, and reporting integrity.
• Prepare, Review and post 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.
• Process Intercompany expense settlements.
• Prepare Regulatory, SEC, and Internal reporting.
• Provide support to key stakeholders of the team to present analytical results, findings.
• Be the first point of contact for assigned account and ensure that compliance requirements are adhered to (e.g. company policies surrounding standard of conduct, information security, employment regulations)
• Reconcile bank, prepaid 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
• Work with and support the team in day-to-day activities including issues requiring judgement and expertise.
• Ensure SOPs are updated with the most recent procedure.
• Participate & contribute Re-Engineering, Automation and other ERP Implementation Initiatives.
• Education and Experience:
• Bachelor/master’s degree in finance or MBA
• Accounting qualification (ACA, ACCA, CPA, CIMA)
• 8-10 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.
• Skills required:
• 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
• Strong analytical and ability to analyse 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.
• Highly organized with ability to multi-task and work under high pressure deadlines.

About State Street

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