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 substantiation 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.

Majority of GAO capacity (circa 80%) is concentrated in 2 Global and 2 Regional GAO GFC (Global Finance Centre) where activities are organized by process:

• Global GAO GFC in Bangalore, India (captive)
• EMEA Regional GAO GFC in Krakow, Poland (captive)
• APAC Regional GAO GFC 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:

• Accountable to manage end to end Expense Accounting, reporting activities from GFC.
• Partner with GPO to drive process and controls improvements and process automation.
• Successful delivery of Transformation & Re-engineering projects

Responsibilities & Tasks

• Perform month-end, quarter-end, and year-end close processes to verify all entries have been created and posted, ensuring completeness, accuracy, and reporting integrity.
• Prepare and post journal entries to record accrued expenses in the correct period, amortize prepaid expenses and fixed assets while maintaining schedules that tie to the balance sheet.
• Ensure an accurate and timely period-end close by ensuring all transactions are recorded, journal entries are posted, accounts are reconciled where needed and consolidated at required level.
• Manage time to assist with ad-hoc projects and new transactions to support the GAO Accounting group.
• Provide support to key stakeholders of the team to present analytical results, findings.
• Be the first point of contact for assigned account and ensure that compliance requirements are adhered to (e.g. company policies surrounding standard of conduct, information security, employment regulations)
• Reconcile bank, prepaid and accrual accounts, against the supporting and facilitate any entries if required.
• Participate in or conduct a wide range of accounting and financial analyses on critical and complex issues which may include variance analysis and accounting transactions.
• May serve as a subject matter expert on a particular accounting transaction.
• Support with queries from regulatory authorities and external auditors
• Work with and support the team in day-to-day activities including issues requiring judgement and expertise.
• Ensure SOP’s are updated with the most recent procedure
• Participate & contribute Re-Engineering, Automation and other ERP Implementation Initiatives
• Support overall team goals and objectives.

Education and Experience:

• Bachelor/master’s degree in finance or MBA
• Accounting qualification (ACA, ACCA, CPA, CIMA)
• 14-16 years of progressive experience in Accounting Operations, Controllers in Record to Report.
• Experience of working in Controllership/Accounting teams in a Shared Services environment
• Extensive practical experience and knowledge of the US GAAP and IFRS accounting standards
• Experience of building and maintaining strong control environment (risk excellence, experience with SOX, RCSA controls, etc.), establishing procedures and strong internal controls.
• Experience of leading/working 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 control 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 Essbase, Oracle Financials
• Knowledge of Spotfire, Tableau, data analytics, Macros and visualization (or similar) a plus
• Conceptual understanding of company-wide financial architecture (GL, sub-GL technology, specialized tools) applicable to the above process groups of processes
• Self-motivated, self-assured, and self-managed
• Strong analytical and ability to analyze and summarize complex financial transactions.
• Strong attention to details & Problem-solving skill.
• Good knowledge of accounting concepts related to Profit and Loss Account and Balance sheet.
• Ability to prioritize workload, meet deadlines and manage multiple assignments simultaneously.
• Must be able to work in a fast-paced environment.
• Problem solving skill.
• Highly organized with ability to multi-task and work under high pressure deadlines.
• Independent decision-making capabilities demonstrated thought leadership.
• Strong analytical and ability to analyze and summarize complex financial transaction.
• Senior-level communication skills, presentation skills, prior experience of interacting with multiple stakeholders (Legal Entity and Geography controllers) in NA, EMEA, APAC
• First or second level management expertise required.
• 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.

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers

Read our CEO Statement