Assistant Manager - Balance Sheet Substantiation

Job Description

Job Profile BangaloreFunctional Job Title: : Balance Sheet Substantiation Assistant ManagerReports to : Balance Sheet Substantiation -Manager/Senior ManagerDepartment/ Division : Controllers/FinanceBackground: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:Integrated close and intercompanyRevenue accountingExpense accountingSpecialized product accountingCash and deposit governanceAccounts payableProject accountingBalance sheet substantiation and system to system reconciliationsTransfer pricingClient profitabilityManagement allocationsFinancial Systems SupportEach 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:Global GAO Hub in Bangalore, India (captive)GAO Production Hub in Coimbatore and Chennai (State Street/HCL JV)EMEA Regional GAO Hub in Krakow, Poland (captive)APAC Regional GAO Hub in Hangzhou, China (captive)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:Partners with Line Manager to drive process and controls improvements and process automationAbility to partner with internal and onshore teams and ensure successful delivery of Balance Sheet Substantiation projects/initiativesKey ResponsibilitiesBusiness as Usual (BAU) ActivitiesAccountable for all operational reconciliation and substantiation processes performed in the Balance Sheet Substantiation Team (growing scope as more processes are transitioned from high cost locations to the hub)Full ownership of timeliness and quality of the output, no backfall on donor entities or onshore Service Delivery TeamsEnsure that accounting processes and procedures are followed and completed to support and reinforce key business objectivesEnsure all Reconciliations are prepared in line with the requirements of the Balance Sheer Reconciliation PolicyEnsure proper reconciliation controls are in place and are adhered to at all times and also monitor control effectivenessIdentify potential risks and remediation of process deficiencies.Assist in the development of of additional controls and identification of preventative measuresAssisting in Requirements gathering, Gap Analysis and Facilitate testing, record deviations, close gaps and ensure seemless BAU transitionsWork closely with IT, Vendor and project team to improve the reconciliation processCreating procedures and keeping current procedures up to date per BSS PolicyMeeting SLA requirements and maintaining high Balanced Scorecard ratingsEscalate any issues to line manager and avoid any unfavourable impact on process delivery.Adhere to and complete all requirements of the GAO Control HubEscalate any issues to line manager and avoid any unfavourable impact on process delivery.Process Re-Engineering, Automation and Change ManagementPartnering 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 team and donor entities to ensure effective and efficient transition of activities into the HubImplementation support of the GAO process re-engineering and automation (accounting technology roll-out, new entities set up, restructures, converstions)Partner with various teams and ensure successful delivery of the projects/initiatives of Balance Sheet Substantiation TeamJob Requirements:Education and Experience:Bachelor/Master Degree in Finance or MBA6-8 years of progressive Business analyst in Balance Sheet Reconciliation and Substantiation, Accounting Operations, Controllers, Business Controls, Finance & Risk AssuranceExperience of supporting and maintaining strong control environmentExperience of working with offshore support modelStrong understanding of Oracle - Sub Ledger AccountingPractical experience and knowledge of the US GAAP and IFRS accounting standards.Technical experience in System design/Interfaces and data flow into ERP system is a plusSkills required:Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices)Possess good levels of understanding of current technological platforms introduced by Oracle, viz : workday, ARCS, Oracle Cloud platforms, forms/reports , other development tools etc.Knowledge of Hyperion Essbase, Oracle FinancialsKnowledge of Spotfire, Tableau, Cognos data analytics and visualization (or similar) a plusConceptual understanding of company-wide financial architecture (GL, sub-GL technology, specialized tools) applicable to the above process groups of processesIndependent decision-making capabilities, demonstrated thought leadershipPride of ownership with the ability to deliver high quality results timelySelf-motivated, self-assured, and self-managedStrong attention to detailsProblem solving skillHighly organized with ability to multi-task and work under high pressure deadlinesMust be able to work in a fast-paced environment,

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