Billing Setup

1 month ago

Bangalore, India State Street Full time

Background:

State Street has established a Global Billing Function under Controllership, which is responsible for client billing set up and invoicing across all business lines and geographies globally at State Street. Organizationally, it combines all groups performing these activities globally, and includes centers residing in State Street Shared Service locations in Poland, India and China. Billing Organization owns aspects of business-as-usual activities within billing areas and drives process improvements and automation.

Basic Purpose of Job:

The ORMB Setup and Billing Senior Associate provides subject matter knowledge and issues and escalation management in the assigned area of client billing and invoice creation. The candidate develops a thorough understanding of State Streetâs business practices to effectively perform independent, complex platform configuration, data collection and analysis. Client/Fee schedule is very the most important function of GBO and have the direct impact on downstream process hence the role need eye for detail. Reporting to the Billing Manager, the Senior Associate will be assigned to the Billing COE, working remotely alongside in-market team members to close a multitude of activities associated with client setup and invoice generation and analytics of the assigned business units (BU).

Work Experiences:

Bachelorâs/Masterâs Degree in Finance, Chartered Accountant (CA) or preferred Certified Public Accountant (CPA)/MBA Finance) 3-5 years of progressive experience in Accounts receivable, banking areas with major financial institutions Financial Planning & Analysis in a global setting

Complex operational setting involving analysis of financial data

Direct support to business or product line management / executives

 Financial services setting

Well Versed with ERP ORMB - good knowledge, experience

Well versed with O2C process, system automation, etc

Project experience

Variance analysis and reporting of insights

Financial modelling 

Billing operations

Revenue accrual

Skills:

Excellent interpersonal, written, and verbal communication skills, with the ability to interface effectively with individuals at various levels, both internal and external

Analytical, with strong problem-solving abilities and creative resolution skills

Self-motivated, with the ability to work on multiple projects in a fast-paced environment

Comfortable presenting and pitching new ideas to senior management teams in large settings

Ability to remain organized, pay strict attention to detail, and meet critical deadlines within a high volume, fast-paced environment

Must be able to work in a fast paced environment

Detailed orientated with ability to consistently and accurately execute against operational controls

Ability to adapt to a changing environment and demands of transition of new clients 

Must possess strong communication skills with ability to participate in or lead conference calls and present financial results to financial and non-financial audiences at various levels of seniority

Pride of ownership with the ability to drive results within the Business

Solid business knowledge as it relates to the financial services industry 

Strong Analytical skill set 

Financial product and institution knowledge

Self-motivated, self-assured, and self-managed

Results oriented ownership mindset

Ability to multi-task and work under high pressure deadlines

Business As Usual (BAU) Activities:

  • Collaborate closely with the onshore team to understand expectations and deliverable timelines and ensure that deliverables of the team are load balanced as compared to team staffing. 
  • Develop the team to adopt âownerâs mind setâ, work independently, and effectively manage timelines 
  • Manage resources to assist with ad-hoc projects and new transactions to support the GBO controller group
  • Lead the day to day activities of Client Set-up Global level engagement to onboard the client and fee schedule on different billing platform.
  • Provide support to key stakeholders of the team to present analytical results, findings
  • First point of escalation within the local reporting line for dealing with issues (people/process/technology) and ensuring that compliance requirements are adhered to (e.g. company policies surrounding standard of conduct, information security, employment regulations)
  • May be required to 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 particular Set-up transactions. Coordinate with onshore team treatment for complex transactions
  • Coaches the team and works with onshore leadership to establish the team member goals and gather feedback for performance appraisals. 
  • Participate in or manage function specific projects as needed

Ensure completion of deliverable within the committed timeframe including assistance with development of deliverable plans, attending deliverable specific or recurring meetings between the team and the onshore team.  Team deliverable revolve around

Expectations:

Knowledge of various services and industry trends of billing methods for those services like Custody services, Sub custodian, Transfer Agent services and out pocket expense billing, asset management etc.

Should have knowledge on setting up clients in banking sector

Demonstrated knowledge in improving the billing function for multiple geographies and business areas.

Other 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 billing systems

Conceptual understanding of company-wide financial architecture (GL, sub-GL technology, specialized tools) applicable to the above process groups of processes

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

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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