Manager, Specialized Acouting (Legal Entity controller)

State Street.
Bangalore, India
Not disclosed
26 Jan 2022
08 Feb 2022
Contract type
Full time
Experience level

The Manager will be responsible for all aspects of US GAAP, IFRS, German accounting and reporting for Capital Markets products and day-to-day management of a team of 3-5 experienced Accounting professionals (the level specialists and analysts) that provide support to Global Product Controllers group. This individual will develop extensive operational knowledge and  provide subject matter expertise in the area of accounting related to the products  which includes:

  • Investment Securities
  • Derivatives
  • Loans
  • Stable Value WRAP
  • Unused Commitments
  • Long Term Debts
  • Letters of Credits
  • Preferred Stocks
  • Credit Enhancements
  • Repo/Reverse Repo

In addition to Business As Usual (BAU) responsibilities as described above, this role will identify opportunities for standardization, and automation efforts. The individual should have mandatory working knowledge and modelling skills in PowerBi , with additional Tableau/ Knime as optional skills.

Responsibilities & Tasks Include:

Business As Usual (BAU) Activities:

  • Develop the team to adopt “owner’s mindset”, work independently, and effectively manage timelines 
  • May be required to provide accounting analyses or research on critical and complex issues which may include variance analysis of accounting transactions related to the products supported.
  • 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;


  • Reconcile Summit derivatives market value to general ledger
  • Reconcile the initial margin, variation margin, interest and fees for the derivatives traded with the central clearinghouse, CME, through the broker to general ledger and prepare manual reclass journal entries as necessary


  • Review off-book currency manual journal entries prepared by JV
  • Prepare Regulatory reporting for FR2644


  • Coordinate month-end close including prepare manual journal entries and export accounting system reports
  • Review/Prepare account reconciliations and certification


  • Prepare Regulatory, SEC, and Internal reporting
  • Perform CCAR CFO attestation control testing
  • Process Intercompany Tax Settlements
  • Perform SOX control testing
  • Review Operating Cash Inventory


  • Process Trustee Fee Payments
  • Calculate Management Fees


  • Prepare and update process narratives/procedures and flow charts
  • Response to internal and external requests including variance analysis and inquires
  • Participate in Ad Hoc projects and new transactions
  • General ledger account requests
  • Accounting systems maintenance and upgrade
  • Responsibility for ongoing process improvements
  • Assist in implementation of the GAO process re-enginerring and automation efforts

Job Requirements:
Education and Experience:

  • Master’s Degree in Accounting, Chartered Accountant (CA) and Certified Public Accountant (CPA)/MBA-Finance with 8-10 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 Derivatives and Hedging ASC815, Offsetting of Amounts Related to Certain Contracts FIN39, Accounting
  • In-depth knowledge of Derivatives, Long Term Debt and Preferred Stocks.
  • Understanding of the 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.
  • Experience working with muti-geographical processes process
  • Extensive experience performing day-to-day accounting operations, month-end and quarter-end activities for the above areas of accounting
  • Experience with  R2R (record-to-report) centralized processes

Skills required:

  • Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices)
  • Mandatory working knowledge of PowerBi, with additional Tableau/ Knime as optional skills.
  • 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
  • Independent decision-making capabilities
  • Pride of ownership with the ability to deliver high quality results timely
  • Self-motivated, self-assured, and self-managed
  • Strong analytical ability to analyze and summarize financial transactions related to the products supported
  • 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

For further information, and to apply, please visit our website via the “Apply” button below.

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