State Street

Controller, Team Lead

Recruiter
State Street
Location
Bangalore, India
Salary
Not disclosed
Posted
06 Dec 2023
Closes
18 Dec 2023
Ref
R-742914
Approved employers
Approved employer
Contract type
Permanent
Hours
Full time
Experience level
Qualified accountant

Functional Job Title : Expense Accounting

BAU Resource – Team Lead

Reports to: Manager / Sr. Manager

Department/ Division: Corporate Finance, Bangalore

Background:

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, , 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.

Basic Purpose of Job:

  • The Expense Accounting resource will be responsible for all aspects of US GAAP, Expense accrual accounting for Global Region
  • This individual will provide subject matter expertise in the area of accounting related to Expense Accrual, Prepayment and Fixed Asset and Deferred accounting which include the below

Responsibilities & Tasks Include:

Business As Usual (BAU) Activities:

  • Collaborate closely with the onshore team to understand expectations and deliverable timelines.
  • assist with ad-hoc projects and new transactions to support the GAO Accounting controller group
  • Provide support to key stakeholders of the team to present analytical results, findings
  • May be required to 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.
  • Participate in or manage function specific projects as needed
  • Ensure completion of deliverables within the committed timeframe including assistance with development of deliverable plans, attending deliverable specific or recurring meetings between the team and the onshore team. Deliverables revolve around;

Daily:

  • Monitor daily Fixed Asset reports and ensure accurate capitalization process.
  • Prepare/Oversight additional and corrective expense journal entries and post/review in system.
  • Validate all expense related payments with respect to Account Number.
  • Query Management
  • Work with the business, controllers and other team towards clearing of aged accruals from the Balance Sheet.

Weekly:

  • Prepare off-book manual journal entries
  • Review & authorize manual bank journal entries

Monthly:

  • Coordinate month-end close including prepare manual journal entries and export accounting system reports
  • Monthly Accrual posting and oversight
  • Ensure correct capitalization of Fixed Assets and executing the depreciation run
  • Preparing and posting the monthly prepayment schedules
  • Perform SOX control testing

Ad-Hoc:

  • 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
  • Perform user access reviews & certifications

Process Re-Engineering, Standardization, and Automation:

  • Lead the process Re-Engineering, Standardization, Automation
  • Responsibility for ongoing process improvements
  • Responsibility for execution of right-placement strategy
  • Implementation support of the GAO process re-engineering and automation efforts

Job Requirements:

Education and Experience:

  • Bachelor’s/Master’s Degree in Accounting, Chartered Accountant (CA) or preferred Certified Public Accountant (CPA)/MBA Finance) 6-8 years of progressive experience in R2R areas with major financial institutions.
  • Extensive practical experience and knowledge of the US GAAP.
  • Knowledge of Expense / Payroll accounting for EMA and APAC region.
  • 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

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, Payroll, Tax for payroll & other internally developed products such as Cash manager
  • 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 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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