Functional Job Title: : Balance Sheet Substantiation - Manager
Reports to : Balance Sheet Substantiation - Senior Manager/AVP
Department/ Division : Controllers/Finance
Background:
State Street Global Accounting Operations (GAO) is a process-driven function responsible for all Record-to-Report (R2R) processes within Controllers including:
- Integrated close and intercompany.
- Revenue accounting
- Expense accounting
- Specialized product accounting
- Cash and deposit governance
- Project accounting
- Balance sheet substantiation and system to system reconciliations
- Transfer pricing
- Financial Systems Support
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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.
Goal of the position:
- Accountable for all operational Balance Sheet Substantiation activities in the Hub
- Partners with GPO to drive process and controls improvements and process automation
- Ability to partner with internal and other teams and ensure successful delivery of Balance Sheet Substantiation projects/initiatives
Responsibilities & Tasks Include:
Business as Usual (BAU) Activities:
- Ensure all Reconciliations are prepared in line with the requirements of the Balance Sheer Reconciliation Policy
- Ensure proper reconciliation controls are in place and are adhered to at all times
- Close monitoring of exceptions and providing timely update to management on the resolution status
- Ensure that accounting processes and procedures are followed and completed to support and reinforce key business objectives
- Meeting SLA requirements and maintaining high Balanced Scorecard ratings
- Work closely with IT, Vendor and project team to improve the reconciliation process
- Escalate any issues to line manager and avoid any unfavorable impact on process delivery.
- Adhere to and complete all requirements of the GAO Control Hub
- Identify potential risks and remediation of process deficiencies
- 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
- Partnering with GPO, FRIBS and Technology to drive process re-engineering, automation and change management
- Partner with various teams and ensure successful delivery of the projects/initiatives of Balance Sheet Substantiation Team
- Implementation support of the GAO process re-engineering and automation (accounting technology roll-out, new entities set up, restructures, conversions)
Job Requirements:
Education and Experience:
- Bachelor/Master Degree in Finance or MBA
- Accounting Qualification (ACA, ACCA, CPA, CIMA) a plus
- 8-10 years of progressive experience in Balance Sheet Substantiation, Accounting Operations, Controllers, Business Controls, Finance & Risk Assurance.
- Experience in controllership or reconciliations process in a Shared Services environment.
- Extensive experience and knowledge of the US GAAP and IFRS accounting standards.
- Hands on experience in creating and maintaining strong controls environment.
Skills required:
- Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices)
- Knowledge of Hyperion Essbase, Oracle Financials (ARCS) is preferred.
- Independent decision-making capabilities, demonstrated thought leadership.
- Pride of ownership with the ability to deliver high quality results timely
- Self-motivated, self-assured, and self-managed
- Strong analytical and ability to analyze and summarize complex financial transactions
- Strong attention to details and Problem solving skill
- Highly organized with ability to multi-task and work under high pressure deadlines
- Must be able to work in a fast-paced environment
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