Managing Director Global Accounting Operations

Job Description

Background : 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 intercompany Revenue accounting Expense accounting Specialized product accounting Cash and deposit governance Accounts payable Project accounting Balance sheet and system to system reconciliations Transfer pricing Client profitability Management allocations Financial Systems Support 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. 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 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. The remit of this role covers all BAU operational accounting activities as well as standardization and automation of processes performed in the Global GAO Hub in Bangalore . The hub was established in 4Q 2017 and by the end of is expected to grow to 150 FTE. 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: Accountable for all operational accounting activities in the Hub Main data provider to Statutory , Regulatory , SEC , Tax , and Management Reporting Partners with GPO to drive process and controls improvements and process automation In the target state Global Process Owner of all State Street accounting processes globally Responsibilities & Tasks Include: Business As Usual (BAU) Activities: End - to - end accountability for all operational accounting processes performed in the Hub (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 Teams Oversight of JV processes and output , escalation point for JV who have a matrix reporting into the Hub 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 maintaining high Balanced Scorecard ratings 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 and donor entities to ensure effective and efficient transition of activities into the Hub Implementation support of the GAO process re - engineering and automation (accounting technology roll - out , new entities set up , restructures , converstions) In the target state Global Process Owner for all groups of GAO processes i.e. will be fully accountable for the process design and effectiveness globally Team Management Responsibilities Accountability for the day to day management of a team of 100 - 150 employees (6 - 7 direct reports) Talent acquisition , training and development , succession planning , nurturing strong second layer Performance management , performance reviews , career planning and coaching Partnering with Hubs Controller and Global Head of GAO in creating a self - sustaining center of excellence 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,

Keyskills :
salesreportingfinancemarketingusinessdevelopmentcenterofexcellenceprocessdesignmusicmakingstandardoperatingproceduresusgaapexternalauditclearvisioncontinuousprocessimprovementbalancesheet