Senior Manager, Repos US GAAP Accounting, Derivatives, ASC815, R2R, IFRS

State Street.
Bangalore, India
Not disclosed
23 Jun 2022
23 Jul 2022
Contract type
Full time
Experience level

Specialized Accounting is a product centric team within Global Accounting Operations with accounting subject matter expertise for the specific products supported. The team is responsible for operation and maintenance of the accounting based on USGAAP, Local GAAP, and IFRS changes and environment changes i.e. systems of record for the specific products. The team is also responsible for related notes to the consolidated notes to the financial statement as well as regulatory reporting information for the related products. Specialized Accounting is structured into five teams responsible for specific products as follows:

Liability Management - Loans, Long Term Debt, Hedge accounting (derivatives and hedged items), Preferred Stock Asset Management – Investment Securities and Equity investments Non-Hedging FX Derivatives & Currency Management - Non-Hedging derivatives including FX swaps, Options, and futures, Fee/Receivable for Currency Management platforms Securities Lending and Enhanced Custody – Securities lending as Agent and Principal Structured Products – Tender Option Bonds (TOB), Stable Value Wrap, Time Deposit, Bank Owned Life Insurance (BOLI), Repurchase and Resale Agreements”

The Teams footprint steam from Chennai, Bangalore, and Boston, US

The Officer will be responsible for all aspects of US GAAP, IFRS, German accounting and reporting for Capital Markets products 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:

  • Preferred Stock
  • Long term debt
  • Derivatives Hedging
  • FV Hedges – IRS/Fx Forwards
  • Cash Flow Hedges - Cross Currency Swaps/IRS
  • Net Investment Hedges – Fx Forwards

In addition to Business As Usual (BAU) responsibilities as described above, this role will identify opportunities for standardization, and automation efforts.

  • Coordination of the monthly close process for the various Global Treasury balance sheet funding product (deposits, repurchase agreements, intercompany funding, long term and short term debt) including review of reconciliations and creation of manual journal entries where applicable;
  • Assist in development of accounting conclusions and solutions for new products and transactions, or in response to system limitations;
  • Liaison with Global Accounting Policy on accounting issues;
  • Coordination of monthly, quarterly and annual submissions to Cayman Island Monetary Authority, Regulatory and SEC Reporting groups
  • Participate in various initiatives to expand Global Treasury products world wide: includes systems testing and configuration changes to corporate financial systems, including Intrader; WSS, IBS, and Oracle
  • Work with Global Chart of Accounts Initiative team on design of processes and procedures and chart of accounts design.
  • Work in a fast paced, challenging environment with multiple and competing priorities.
Education and Experience:
  • Master’s Degree in Accounting, Chartered Accountant (CA) and Certified Public Accountant (CPA)/MBA-Finance with 4 to 6 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 the Derivatives, Long Term Debt and Preferred Stocks.
  • 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.
  • 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)
  • 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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