Reports to: Balance Sheet Substantiation -Senior Manager
Department/ Division: Controllers/Finance
Driven by the State Street Beacon initiative, functionalization of corporate functions and re-alignment of the Finance operating model, State Street has established Global Accounting Operations (GAO) in 2017. GAO is a process-driven function responsible for all record-to-report (R2R) processes within Controllers including: Integrated close and intercompanyRevenue accountingExpense accountingSpecialized product accountingCash and deposit governanceAccounts payableProject accountingBalance sheet substantiation and system to system reconciliationsTransfer pricingClient profitabilityManagement allocationsFinancial Systems Support
Each global process above is managed by a Global Process Owner (GPO) who owns all aspects of BAU production work, process re-engineering, and automation.
Organizationally GAO combines all groups performing these activities globally – approximately 500 employees as of 1Q19.
Majority of GAO capacity (circa 80%) is concentrated in 2 Global and 2 Regional GAO Hubs where activities are organized by process: Global GAO Hub in Bangalore, India (captive)GAO Production Hub in Coimbatore and Chennai (State Street/HCL JV)EMEA Regional GAO Hub in Krakow, Poland (captive)APAC Regional GAO Hub in Hangzhou, China (captive)
Remaining 20% of activities reside within Regional Service Delivery Teams supporting NAM, EMEA and APAC regions. These teams are organized by business unit and material legal entity and act as an interface between Global and Regional Hubs and non-GAO stakeholders – Controllers, FP&A, Treasury, and Tax etc.
Goal of the position: Accountable for all Technical aspect of the Oracle ARCS applicationFacilitate with GPO, Onshore, IT and Project teams to drive process controls , improvements to drive seemless functioning of BAUSuccessful delivery of the Balance Sheet Substantiation Remediation Project
Key Responsibilities Assisting in Requirements gathering, Gap Analysis and Facilitate testing, record deviations, close gaps and ensure seemless BAU transitionsCreation of BRDs, and FSDs, for project simulations.Trouble shoot technical queries and factor expected BAU results in the observations.Creating procedures and keeping current procedures up to date per BSS PolicyCo-ordinate with IT, Business and project teams on ‘Release Cycles’ per definite frequenciesProvide walk-throughs of the release cycle elements and demonstrate operational feasibility or glitches.Co-ordinate in UAT/Post Go Live Support for the businessAssisting the team to ensure that accounting processes and procedures are followed and completed to support and reinforce key business objectivesPerforming and reviewing statutory (SOX) controls in line with Group internal guidelinesAssist in the development of additional controls and identification of preventative measuresAssist in business analysis and feasibility study efforts to further develop the global control framework for accounts governanceWork closely with IT, Vendor and project team to improve the reconciliation process Process Re-Engineering, Automation and Change ManagementPartnering with GPO, FRIBS and Technology to drive process re-engineering, automation and change managementContinuous process improvement leveraging GAO ideation and issue tracking frameworksImplementation support of the GAO process re-engineering and automation (accounting technology roll-out, new entities set up, restructures, converstions)In the target state, accountable for Balance Sheet Substantiation of specific sub teams’ operational delivery as well as accountable for the application all level module process design and effectiveness
Education and Experience: Bachelor/Master Degree in Finance or MBA6-8 years of progressive Business analyst in Oracle System Structuring, Financial Controls, and Risk AssuranceExperience of supporting and maintaining strong control environment (risk excellence, experience with Application/Module testing, Simualtions,controls, etc.), establishing policies, procedures and strong internal controls.Experience of implementing accounting technology (Oracle, SAP) or Operational Projects in any large firms a plusExperience on Testing on OracleHave experience working with offshore support model desirableExposure to Oracle - Sub Ledger AccountingHave experience working with Oracle support on SRExtensive experience and knowledge of the US GAAP and IFRS accounting standards.
Skills required: Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices)Possess good levels of understanding of current technological platforms introduced by Oracle, viz : workday, ARCS, Oracle Cloud platforms, forms/reports , other development tools etc.proficient in writing procedures, functions, FSD and Interpretting BRDs.Proven ability to conceptualize, design and implement solutionsKnowledge of Hyperion Essbase, SQL, , Data Analytics a plusKnowledge of Cognos data analytics and visualization (or similar) a plusConceptual understanding of company-wide financial architecture (GL, sub-GL technology, specialized tools) applicable to the above process groups of processesFirst or second level management expertise requiredIndependent decision-making capabilities, demonstrated thought leadershipPride of ownership with the ability to deliver high quality results timelySelf-motivated, self-assured, and self-managedStrong analytical and ability to analyze and summarize complex financial transactionsStrong attention to detailsProblem solving skillHighly organized with ability to multi-task and work under high pressure deadlinesMust be able to work in a fast-paced environment
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