Global Accounting Operation, Balance Sheet Substantiation ,Vice President

Recruiter
State Street.
Location
Bangalore, India
Salary
Not disclosed
Posted
25 Jan 2022
Closes
26 Jan 2022
Ref
R-688559
Contract type
Permanent
Hours
Full time
Experience level
Director

Background:

Driven by the company-wide objective to functionalize corporate functions and strengthen Finance operating model State Street has established Global Accounting Operations (GAO) in 2017. GAO is a process-driven organization responsible for all record to report processes including Integrated Close and Consolidation, Balance Sheet Substantiation and Management reporting like reconciliations, substantiation, global payment hub, APAC Service Delivery and client profitability and allocations and strategy execution.

Organizationally GAO combines all groups performing these activities globally – approximately 500 employees. Majority of GAO capacity (~90%) is concentrated in the Global Finance Centres (GFC) and GAO Production Team (SSHCL JV) where activities are organized by process:

  • Global GAO GFC in Bangalore, India (captive)
  • EMEA Regional GAO GFC in Krakow, Poland (captive)
  • APAC Regional GAO GFC in Hangzhou, China (captive)
  • GAO Production teams in Coimbatore and Chennai (State Street/HCL JV)

The remit of this role covers all operational BAU and transformation activities for the Balance Sheet Substantiation (BSS) Tower. The role provides oversight over GAO Production teams in SSHCL JV as it relates to BSS activities

Goal of the position:

  • Global Process Owner for all BSS activities across GFC locations and SSHCL JV
  • Originates and drives standardization and automation efforts across BSS tower
  • Owns the policy, systems and processes for reconciliation and substantiation
  • Drive the Balance Sheet Substantiation Council meetings engaging senior stakeholders across controllers organization
  • Deliver on the transformation initiatives as part of the Balance Sheet Substantiation Remediation Program
  • Instills the culture of risk excellence and the spirit of continuous improvement in the control environment

Responsibilities & Tasks Include:

Business as Usual (BAU) Activities:

  • End-to-end accountability for all operational accounting processes performed in the GFC
  • Full ownership of timeliness and quality of the output, no backfall on donor entities or onshore Service Delivery Teams
  • Oversight of JV processes and output, escalation point for JV who have a matrix reporting into the GFC
  • Timely provision of accurate and complete set of data to internal and external GAO and non[1]GAO stakeholders (e.g. GAO Service Delivery Teams, BU Controllers, FP&A, SEC reporting, external audit, etc.)
  • Maintaining robust controls environment: maintaining complete and accurate inventory of processes, risks and controls; timely flagging, tracking and remediation of process, communication and controls deficiencies; maintaining up to date inventory of standard operating procedures; identifying and remediation of inconsistent design of controls within the same tower; monitoring of controls effectiveness
  • Meeting SLA requirements,  and achieving performance metrics consistently
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
  • Partnering with transition management team and sending locations to ensure effective and efficient transition of activities into  GFC
Team Management Responsibilities:
  • Accountability for the day to day management of a team of ~40 employees (5-6 direct reports)
  • Talent acquisition, training and development, succession planning, nurturing strong second layer
  • Performance management, performance reviews, career planning and coaching 
  • Partnering with Head of BSS & Reporting in creating a self[1]sustaining center of excellence
Job Requirements:
Education and Experience:
  • Bachelor/Master Degree in Finance or MBA
  • Accounting Qualification (ACA, ACCA, CPA, CIMA)
  • 12+ years of progressive experience in Accounting Operations, Controllers, Business Controls, Finance & Risk Assurance
  • Experience of running a large (20+) team in a Shared Services environment
  • Proven track record in building and running a successful Accounting Operations COE within a major financial institution
  • Experience of leading redesign, centralization, standardization and automation of  Balance Sheet substantiation activities
  • Hands on experience in creating and maintaining strong controls environment
  • Up to date knowledge of current US GAAP and IFRS standards

Skills required:

  • Demonstrated thought leadership: clear vision of what good is and ability to challenge status quo
  • Excellent execution and project management skills: ability to structure a work effort and take it to completion
  • Strong stakeholder management skills: understanding the impact on stakeholders, proactive and preemptive communication, ability to influence seniors
  • Appreciation of cultural differences within geographically diverse teams
  • Ownership and accountability mind set, self-motivated, self-starter attitude
  • Excellent communication skills: ability to analyze, interpret and communicate complex issues at senior level
  • Highly organized with ability to multi-task and work under pressure
  • Good understanding of the building blocks of financial technology architecture
  • Strong grasp of Microsoft Office, Hyperion Essbase, Oracle Financials, Spotfire, Tableau, Cognos is a plus
For further information, and to apply, please visit our website via the “Apply” button below.

Similar jobs

Similar jobs