Assistant Manager - Expense Allocations
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.
Basic Purpose of Job:
The Finance COE Specialist will be a critical member of the expense allocations team responsible for providing strategic decision support, financial analysis, and reporting in conjunction with supporting the Global Services/Global Delivery business area. The Specialist will develop a thorough understanding of State Street’s business practices to effectively perform independent, complex reporting or analytics to support the ad-hoc needs of the businesses. Reporting to the Finance CoE Manager, the Specialist will perform a variety of activities associated with expense allocations, unit-costing and reporting and detailed analytics. The position requires excellent analytical, research and financial modeling ability, coupled with strong communication and time management skills. The successful candidate will be comfortable interfacing and presenting to senior and executive management, both within the finance team and operations.
Responsibilities & Tasks Include:
- Production and analysis of SDAs under GSA hierarchy (GS Americas, GS EMEA, GS APAC, IMS, AIS) which includes approx 350+ Cost centers.
- Monthly/Quarterly SDA reporting package including variance explanations related to changes vs. budget and prior year.
- Develop historical unit cost database to be used for executive reporting and analysis.
- Oversight of non-unit cost allocations including, driver data review, allocation calculation review and client level allocation review, along with keeping a track of RC allocation cycle.
- Working extensively on HPCM and Hyperion SmartView in developing client-level allocations including driver and mappings for all Global Services SDAs along with reviewing them periodically.
- Understanding and performing detailed variance analysis
- Responding to Client and Internal Stakeholders queries in a time bound fashion with keen attention to numerical details ensuring the ‘What’ and ‘Why’ aspects of queries are correctly addressed.
- Adhoc reporting, inquiry responses and project management as needed.
- Self-review of reporting & analytics deliverables for first pass accuracy and presenting analytical results, findings as needed.
- Serves as a subject matter expert on expense allocation related to the Global Services business area and provides guidance, training and oversight to less seasoned analysts.
Education and Experience:
- Bachelor’s degree in Finance with 7 – 9 years of relevant experience or Master’s with min 6 - 8 years of experience ideally covering multiple aspects of the following:
- Financial Planning & Analysis in a global setting
- Direct support to business or product line management / executives
- Experience with preparation of budgets for multi-national companies
- Multi-dimensional profitability (business, product, client)
- Unit or project costing
- Project experience
- Variance analysis and reporting of insights with detailed commentaries.
- Financial modeling
- Productivity analysis
- Critical understanding of numbers and ability to analyze expense trends at a product and client level and establish underlying themes
- This is a visible role. Excellent communication, organizational and presentation skills, and ability to present complex financial matters to management is required.
- Must be able to work in a fast-paced environment.
- Must possess strong communication skills with ability to participate in or lead conference calls and present financial results to financial and non-financial audiences at various levels of seniority.
- Pride of ownership with the ability to drive results within the Business.
- Solid business knowledge of financial services industry and various financial products.
- Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), advanced levels of excel (pivot tables, formulas, excel workbook maintenance best practices) and MS Access.
- Working knowledge of Hyperion Profitability Cost Management, Hyperion Essbase, Salesforce 360.
- Knowledge of Spotfire, Tableau/ Cognos data analytics and visualization (or similar) a plus.
- Sound knowledge base of Financial services industry and various products.
- Self-motivated, Self-assured, and Self-managed with a result-oriented ownership mindset.
- Ability to multi-task and work under high pressure deadlines.
For further information, and to apply, please visit our website via the “Apply” button below.