Emerging Lead - Financial Planning and Analysis
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 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 RCs.
- 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.
- 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/Master’s with 4 – 6 years relevant experience ideally covering multiple of the following:
- Financial Planning & Analysis in a global setting
- Direct support to business or product line management / executives
- Financial services setting
- 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
- Financial modelling
- Productivity analysis
- 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 (P&Ls, Balance Sheets) as it relates to the financial services industry
- Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), advanced levels of excel (pivot tables, formulas, excel workbook maintenance best practices)
- Knowledge of Expense allocations, Cost allocations, BU allocations a definite plus.
- Knowledge of HPCM, Hyperion Essbase, Smart View a must.
- Knowledge of Spotfire, Cognos data analytics and visualization (or similar) a plus
- Strong Analytical and problem solving skill set
- This is a visible role. Excellent communication, organizational and presentation skills, and ability to present complex financial matters to management
- Self-motivated, self-assured, and self-managed
- Results oriented ownership mindset
- Ability to analyze and summarize complex financial matters and their impact to the bank
- 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.