Global Accounting Operation - Manager

Location: Bengaluru

Background:
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 & Consolidation, 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 Officer will be responsible for the review and preparation of accounting revenue accrual entries and reporting under US GAAP. This individual should possess extensive operational knowledge and should be subject matter expert in the area of accounting related to ASC 606 Revenue recognition which will include

Booking of Revenue accruals for SF for Investment Services in Ledger
Knowledge on AR and Revenue Transactions.
Managing disputes.
Unbilled reporting
Ensuring month end closure

Apart from the above requirement the candidate should have a complete overview of the Revenue process and should be readily in involved In RAW implementation for project reengineering.
Responsibilities & Tasks Include:
Business As Usual (BAU)

Activities:

Should have 'owner's mind set', work independently, and effectively manage timelines
May be required to provide accounting analyses or research on critical and complex issues which may include variance analysis of accounting transactions related to billed and unbilled revenue
Develop subject matter expertise in all aspects of the products under responsibility including operational aspects of a particular accounting transaction.
Participate in or manage function specific projects as needed
Ensure high quality and completion of deliverables within the committed timeframe. Team deliverables revolve around.

Daily   :
Monitor Revenue Activity
Monitor P/L movement for Revenue
Justify PPA adjustments
Get clarifications from GBO and Controllers

Monthly:
Coordinate month-end close including prepare / review manual journal entries and export accounting system reports
Prepare account reconciliations and certification
Process Misc adjustments related to RAW and ORMB
Prepare Regulatory Reporting.
Prepare SEC reporting
Quarterly   :
Prepare Regulatory, SEC, and Internal reporting
Perform Accrual Pack for IS Revenue
Perform SOX control testing
Internal Audit support
Annual   :
Response Audit queries and submissions of reports to Auditors and Tax Team.
Ad-Hoc   :
Prepare and update process narratives/procedures and flow charts
Response to internal and external requests including variance analysis and inquires
Participate in Ad Hoc projects and new transactions
General ledger account requests
Accounting systems maintenance and upgrade
Perform user access reviews & certifications
Perform analysis to support intercompany transfers, prepare automated transfer processing file, validate transfers, and prepare manual journal entries

Process Re-Engineering, Standardization, and Automation:
Responsibility for ongoing process improvements
Assist in implementation of the GAO process re-engineering and automation efforts

Job Requirements:

Education and Experience:

Master's Degree in Accounting, Chartered Accountant (CA) and Certified Public Accountant (CPA)/MBA-Finance with 10-12 years of progressive experience in R2R areas with major financial institutions
Extensive practical experience and knowledge of the US GAAP and IFRS accounting standards for the above areas, experience with other accounting standards (German, etc.) is a plus
In depth knowledge of Accounting for Certain Investments in Debt and Equity Securities ASC 320 former FAS
115.
Understanding of international regulatory landscape, experience with statutory accounting/reporting groups across several major international geographies.

Experience of building and maintaining strong…