Global Accounting Operations_Balance Sheet Substantiation - Manager
- Recruiter
- State Street.
- Location
- Bangalore, India
- Salary
- Not disclosed
- Posted
- 22 Feb 2021
- Closes
- 22 Mar 2021
- Ref
- R-658985
- Job role
- Accounts payable/receivable, Compliance/risk, Financial accountant, Financial analyst, Financial planning & analysis
- Contract type
- Permanent
- Hours
- Full time
- Experience level
- Manager
Functional Job Title: Balance Sheet Substantiation – Manager
Reports to: Balance Sheet Substantiation – Senior Manager/AVP
Department/ Division: Controllers/Finance
Background:
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:
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:
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:
Responsibilities & Tasks Include:
Business as Usual (BAU) Activities:
End-to-end accountability for all Balance sheet reconciliation and certification processes assigned to the team. To actively identify opportunities to re-engineer processes by challenging the current controls, procedures, reorganise work and constantly improve the quality such that team’s efficiency continues to improve. Ensure all the balance sheet reconciliations are completed on a monthly basis to a high standard. Perform review and identify key risks and opportunities. Ensure all the open items are followed up and timely cleared. Keep a control over reconciliation activity to ensure all reconciliations are maintained in the best possible position. Escalate any issues to various departmental heads/managers in the event of lack of action from their teams. Maintaining complete and accurate inventory of processes and standard operating procedures. Identifying risks and Ideation of new controls, tracking and remediation of process deficiencies; monitoring of control effectiveness. Timely provision of accurate and complete set of data to internal and external GAO and non-GAO stakeholders (e.g. GAO Service Delivery Teams, BU Controllers, FP&A, SEC reporting, external audit, etc.) Meeting SLA requirements and maintaining high Balanced Scorecard ratings. Ensure adherence to various substantiation policies, review these policies on timely basis. Certification of self and team members on all trainings rolled out by the Learning and Development teams from time to time.
Process Re-Engineering, Automation and Change Management
Team Management Responsibilities
Job Requirements:
Education and Experience:
Skills required:
For further information, and to apply, please visit our website via the “Apply” button below.