Tax Analyst - Assistant Manager
Functional Job Title: Tax Analyst - Assistant Manager
Reports to : Vice President,
Department/ Division : Corporate Finance Global Accounting Operations, GAO
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. GAO is a process-focused organization responsible for the majority of the record-to-report (R2R) activities performed at State Street. Organizationally, it combines all groups performing these activities Globally and also includes Accounting Centers residing in State Street Shared Service locations in Poland, India and China. GAO organization is established on principles of Global Process Ownership and process excellence, owning all aspects of business-as-usual activities within R2R areas and driving process improvements and automation Globally.
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 & Consolidations, Revenue/Expense Accounting, Payroll Accounting, Intercompany Transactions, Specialized/Product Accounting, Cash/Deposit governance and others. Each global unit will be responsible for all aspects of business-as-usual activities within their group of processes, as well as process re-engineering and automation activities – this includes leading process assessments; driving process design and process re-engineering work; co-owning technology initiatives bringing automation to GAO organization, working in close collaboration with the teams in Finance Technology, Finance Re-Engineering, Data Management, and other partnership organizations.
Business As Usual (BAU) Activities:
- Computation of VAT / Use tax on monthly, bimonthly, quarterly and annual basis and preparation of returns across NA, EMEA and APAC regions
- CIT and advance tax calculation, provision and reporting
- Review of invoice from tax perspective
- Ensure timely calculation, preparation and filing of Form 1099 and Form1042
- ST12 and ST121 Tax Certificates issuance to supplier for tax exemption
- Calculate annual headcount-based enterprise rate for Use tax on software invoices.
- Analysis of tax, trend spot discrepancies.
- Ensure timelines of filings are met and payments are recorded and settled across LE.
- Ensure timely reconciliations of accounts are prepared, reviewed and aged balance are cleared with requisite approvals.
- Collaborate closely with the onshore team to understand and provide support on additional ad hoc requirement and opportunity.
- Provide documentation and data support on audit and other related queries.
- Ensure SOP updating and KPI’s are met.
- Deploy tools and technology to drive process efficiencies.
- Adopt “owner’s mind set”, work independently and effectively manage timelines.
- Participate in or manage function specific projects as needed.
- Responsibility for ongoing process improvements
- Implementation support of the GAO process re-engineering and automation efforts
- Assist the Global Process Owner (GPO) in strengthening the control environment around Tax reporting and drive continuous improvement Initiatives.
- Build out reporting capabilities to improve effectiveness of data analytics.
- Assist the GPO in analyzing changes to business unit etc. hierarchies as needed.
Education and Experience:
- Chartered Accountant (CA) with 5- 8 years of progressive experience in the Tax Reporting with a large financial services firm or advisory/consulting firm
- Extensive experience and knowledge of US GAAP, IFRS required, experience with other accounting standards (German, etc.) a plus.
- Detailed understanding of the end-to-end company-wide Transfer Pricing and Intercompany policies
- Demonstrated leadership in build-out of accounting processes for multiple geographies and business.
- 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, Regulation W, etc.), establishing policies, procedures and strong internal controls
- Extensive experience of managing teams performing day-to-day accounting operations, month-end and quarter-end activities for the above areas of accounting
- Experience of leading re-engineering of R2R (record-to-report) processes and driving similar centralization of the end-to-end activities for the major financial institutions
- Advance levels of Excel a necessity (pivot tables, formulas, excel workbook maintenance best practices) and strong knowledge of working with Access databases preferred.
- Knowledge of Hyperion Essbase, Oracle Financials
- Knowledge of Spotfire, Tableau, 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
- Senior-level communication skills, presentation skills, prior experience of interacting with multiple stakeholders (Legal Entity and Geography controllers) in NA, EMEA, APAC.
- Independent decision-making capabilities demonstrated thought leadership.
- Pride of ownership with the ability to deliver high quality results timely.
- Self-motivated, self-assured, and self-managed
- Strong analytical and ability to analyze and summarize complex financial transactions.
- Pay specific attention to details and recognize variances in results with strong analytics.
- 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.