State Street has established a Global Billing Function under Controllership, which is responsible for client billing set up and invoicing across all business lines and geographies globally at State Street. Organizationally, it combines all groups performing these activities globally, and also includes centers residing in State Street Shared Service locations in Poland, India and China. Billing Organization owns aspects of business-as-usual activities within billing areas and also drives process improvements and automation.
Basic Purpose of Job:
The Fee Schedule Lead will be responsible for all aspects of the fee schedule process including overseeing the client and fee schedule set up and review for State Street global businesses spread across countries & regions.
The Fee Schedule Lead will manage a team with a complex engagement model on a day-to-day basis. The individual will be directly responsible for the daily management of reviews of fee schedules generated by State Street Corporation’s joint venture. This individual will provide subject matter expertise in the areas of fee schedule interpretation, set-up, and review. The Fee Schedule Lead will also be responsible for managing State Street Global Advisors’ fee schedule set-up.
In addition to Business As Usual (BAU) responsibilities as described above, this role will also be involved in process re-engineering, standardization, and automation efforts.
Business As Usual (BAU) Activities: General responsibility for all fee schedule activitiesEnd-to-end responsibility for a major group of the billing process: Client & Fee schedule set up and reviewSupervise all fee schedule creation and review for State Street Global AdvisorsOversee and manage the fee schedule team to achieve global consistency and effectiveness in controls; accurate, quality work; and transparency into activities and results. Drive efficiencies to build capacity and create a more agile work process. Maintain a robust control environment: process controls, process oversight and process governance responsibilityManage resources to assist with ad-hoc fee schedule projectsDevelop the team to adopt “owner’s mind set”, work independently, and effectively manage timelinesMeasure progress toward goals; and evaluate productivity and team efficiency. Review and assess regularly with team members and with managementMay serve as a subject matter expert on a particular billing related issues concerning fee schedule interpretationsCoaches the team and gathers feedback for performance appraisals
Process Re-Engineering, Standardization, and Automation: Assist with the process Re-Engineering, Standardization, and Automation efforts for fee scheduling Responsible for ongoing process improvements
Expectations: Bachelor’s/Master’s Degree in Finance, CPA Qualified with an experience minimum of 12+ years working with fee invoices in a global billing function at a large financial services institution.Knowledge of various services and industry trends of billing methods for those services like Custody services, Sub custodian, trust services and out pocket expense billing, asset management etc.In-depth knowledge of the supported products / Types of services and associated fee methods and interpretations.Experience of building and maintaining strong control environment (risk excellence, experience with SOX, RCSA controls, etc.), establishing policies, procedures and strong internal controls.Demonstrated leadership in improving/building-out the fee schedule function for multiple geographies and business areasExperience assisting with re-engineering 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 billing systemsConceptual understanding of company-wide financial architecture (GL, sub-GL technology, specialized tools) applicable to the above process groups of processesFirst 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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