Managing Director- Global Accounting Operations

State Street.
Bangalore, India
Not disclosed
07 May 2021
21 May 2021
Contract type
Full time
Experience level

Background :

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 intercompany
  • Revenue accounting
  • Expense accounting
  • Specialized product accounting
  • Cash and deposit governance
  • Intercompany
  • Transfer 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 JV
  • Originates and drives standardization and automation efforts across GAO R&R activities
  • Instills the culture of risks excellence and the spirit of continuous improvement in the control environment
  • Represents 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 output
  • Oversight of JV processes and output, escalation point for JV
  • 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.)
  • 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 effectiveness
  • Meeting 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 management
  • Continuous process improvement leveraging GAO ideation and issue tracking frameworks
  • Partnering with transition management team
  • Implementation 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 locations
  • Talent acquisition, training and development, succession planning, nurturing strong second layer
  • Performance 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 excellence
  • Strong articulation ability

Job Requirements:

Education and Experience:

  • Bachelor/Master Degree in Finance or MBA
  • Accounting Qualification (ACA, ACCA, CPA, CIMA)
  • 15 - 20 years of progressive experience in Accounting Operations, Controllers, Business Controls, Finance & Risk Assurance
  • Experience of running a large (50+) team in a Shared Services environment
  • Proven track record in building and running a successful Accounting Operations COE within a major financial institution
  • Experience of leading redesign, centralization, standardization and automation of R2R processes
  • Experience of implementing accounting technology (Oracle, SAP) in a major institution
  • Hands on experience in creating and maintaining strong controls environment
  • Up 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 quo
  • Excellent execution and project management skills: ability to structure a work effort and take it to completion
  • Strong stakeholder management skills: understanding the impact on stakeholders, proactive and preemptive communication, aility to influence seniors
  • Appreciation of cultural differences within geographically diverse teams
  • Ownership and accountability mind set, self-motivated, self-starter attitude
  • Excellent communication skills: ability to analyze, interpret and communicate complex issues at senior level
  • Highly organized with ability to multi-task and work under pressure
  • Good understanding of the building blocks of financial technology architecture
  • Stong 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.

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