Driven by the company-wide objective to functionalize corporate functions and strengthen Finance operating model State Street has established Global Accounting Operations (GAO) in 2017. GAO is a process-driven organization responsible for all record-to-report (R2R) and some Management Reporting & Performance Management processes like client profitability and allocations.
GAO incorporates all teams that perform these activities globally – approximately 500 employees as of Dec20.
Majority of GAO capacity (~90%) is concentrated in the Global Finance Centers (GFC) and in our joint venture, SSHCL JV as a process based organization
The remit of this role covers all Record to Report functions listed below as well as standardization and automation of processes performed within the three GFC locations - India, Poland and China. The role requires a strong functional relationship and oversight to the SSHCL JV as it relates to R&R activities.
Each global process within the perview of this role is led by a Global Process Owner (GPO) who owns all aspects of BAU production work, process re-engineering, and automation for this process and who will report to this role.
Record to Report set of activities includes the following: Integrated close and intercompanyRevenue accountingExpense accountingSpecialized product accountingCash and deposit governanceIntercompanyTransfer pricing
The role will have a direct reporting line into the Hubs Controller (SVP) in Bangalore and a matrix reporting line into Global Head of Global Accounting Operations (MD) in London.
Goal of the position: Overall Global Proess Owner accountable for all R&R operational accounting activities across GFC locations and SSHCL JVOriginates and drives standardization and automation efforts across GAO R&R activitiesInstills the culture of risks excellence and the spirit of continuous improvement in the control environmentRepresents GAO R&R team in senior governance meetings and in communication with company leadership
Responsibilities & Tasks Include:
Business As Usual (BAU) Activities: End-to-end accountability for all operational accounting processes performed in the GFC (growing scope as more processes are transitioned to the GAO teams in the GFC)Full ownership of timeliness and quality of the outputOversight of JV processes and output, escalation point for JVTimely 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.)Maintaining robust controls environment: maintaining complete and accurate inventory of processes, risks and controls; timely flagging, tracking and remediation of process, communication and controls deficiencies; maintaining up to date inventory of standard operating procedures; identifying and remediation of inconsistent design of controls within the same tower; monitoring of controls effectivenessMeeting SLA requirements, and achieving performance metrics consistently
Process Re-Engineering, Automation and Change Management Partnering with GPO, FRIBS and Technology to drive process re-engineering, automation and change managementContinuous process improvement leveraging GAO ideation and issue tracking frameworksPartnering with transition management teamImplementation support of the GAO process re-engineering and automation (accounting technology roll-out, new entities set up, restructures, converstions)R&R Global Process Owners are fully accountable for the process design and effectiveness globally
Team Management Responsibilities Accountability for the day to day management of a team of 150 employees (6-7 direct reports) across locationsTalent acquisition, training and development, succession planning, nurturing strong second layerPerformance management, performance reviews, career planning and coaching Partnering with Global India Finance Center and Global Head of GAO in creating a self-sustaining center of excellenceStrong articulation ability
Education and Experience: Bachelor/Master Degree in Finance or MBAAccounting Qualification (ACA, ACCA, CPA, CIMA)15 - 20 years of progressive experience in Accounting Operations, Controllers, Business Controls, Finance & Risk AssuranceExperience of running a large (50+) team in a Shared Services environmentProven track record in building and running a successful Accounting Operations COE within a major financial institutionExperience of leading redesign, centralization, standardization and automation of R2R processesExperience of implementing accounting technology (Oracle, SAP) in a major institutionHands on experience in creating and maintaining strong controls environmentUp to date knowledge of current US GAAP and IFRS standards
Skills required: Demonstrated thought leadership: clear vision of what good is and ability to challenge status quoExcellent execution and project management skills: ability to structure a work effort and take it to completionStrong stakeholder management skills: understanding the impact on stakeholders, proactive and pre-emptive communication, ability to influence seniorsAppreciation of cultural differences within geographically diverse teamsOwnership and accountability mind set, self-motivated, self-starter attitudeExcellent communication skills: ability to analyze, interpret and communicate complex issues at senior levelHighly organized with ability to multi-task and work under pressureGood understanding of the building blocks of financial technology architectureStrong grasp of Microsoft Office, Hyperion Essbase, Oracle Financials, Spotfire, Tableau, Cognos is a plus
For further information, and to apply, please visit our website via the “Apply” button below.