GAO_Revenue Accounting_Manager

Functional Job Title: Revenue, AR, BU Accounting - Manager
Reports to: Revenue, AR, BU Accounting CoE Lead - Officer
Department/Division: Corporate Finance CoE, Bangalore
Background: With a focus on the Beacon initiatives, operationalization of corporate functions, and restructuring of the Finance Operating Model, State Street introduced the Global Accounting Operations (GAO) organization in 2017. The GAO is a centralized unit responsible for the majority of the record-to-report (R2R) activities conducted at State Street. Structurally, it brings together all teams engaged in these activities across the globe, including the Accounting Centers in State Street Shared Service locations in Poland, India, and China. The GAO is built on the foundation of Global Process Ownership and process excellence, managing all routine functions within R2R domains and promoting process enhancements and automation globally. The organization consists of various global units, each overseeing specific groups of R2R activities such as Close & Consolidations, Revenue/Expense Accounting, Payroll Accounting, Intercompany Transactions, Specialized/Product Accounting, Cash/Deposit governance, among others. Each global unit is accountable for all business-as-usual operations within their process group, as well as leading process revamps and automation initiatives. This involves spearheading process evaluations, driving process enhancements, co-managing automation efforts in conjunction with teams in Finance Technology, Finance Re-Engineering, Data Management, and allied organizations.
Basic Purpose of Job: The Revenue, AR, BU Accounting Subject Matter Expert (SME) will oversee revenue recognition, US GAAP compliance, and daily management of an experienced team of Accounting professionals supporting the Global Revenue Accounting unit. This role will offer expertise in various aspects of Revenue Accounting, including but not limited to:

• Revenue Accruals following GAAP/IFRS principles
• Fee Reserve Analysis
• Revenue Adjustments and Intercompany Revenue
• Account Reconciliations & Certifications
• Accounts Receivable; Billed and Unbilled (aging included)
• Monitoring & Processing of Client Concessions / Revenue Reversals
• SOX Controls
• Cash Applications In addition to regular duties as mentioned, this position will lead process re-engineering, standardization, and automation endeavors.
  Responsibilities & Tasks Include:
  Business As Usual (BAU) Activities:
• Collaborate closely with the onshore team to comprehend expectations and timelines, ensuring equitable distribution of team responsibilities
• Foster a culture of accountability within the team, promoting autonomy and effective time management
• Supervise resources supporting ad-hoc projects and new transactions for the GAO Accounting controller group
• Oversee day-to-day operations of an Accounting team specializing in Revenue Accounting
• Conduct managerial reviews and provide feedback on reporting & analytics outputs to ensure accuracy and relevance for the audience
• Support key stakeholders in presenting analytical results and findings
• Act as the primary point of contact within the local reporting line for issue resolution and adherence to compliance standards
• Participate in various accounting and financial analyses on critical and complex matters, including variance analysis and accounting transactions
• Act as a domain expert on specific accounting transactions, collaborating with Accounting Policy for appropriate treatment of complex transactions
• Coach team members, set goals, and gather input for performance evaluations
• Engage in function-specific projects as necessary
• Ensure timely completion of deliverables, assist in developing delivery plans, and engage in deliverable-specific meetings with the onshore team. Team deliverables focus on:
• Collaborating with Revenue Operations (Billing) teams on initiatives, errors, new contracts, etc. Oversight of Revenue team activities, which include the following Accounting tasks: Daily:
• Monitor General Ledger for accuracy per US GAAP guidelines
• Prepare manual journal entries for accrual and adjustment revenue activities
• Apply cash to receivables
• Follow up with Business on aged billed and unbilled itemsMonthly:
• Maintain accuracy of revenue accrual process
• Lead month-end close procedures, including manual journal entries and oversight of account reconciliations and certifications
• Conduct SOX controlsQuarterly:
• Prepare Regulatory and Internal reports
• Perform SOX control testing
• Undertake Fee Reserve AnalysisAd-Hoc:
• Create and update process narratives/procedures and flow charts
• Address internal and external requests, including variance analysis and inquiries
• Contribute to Ad Hoc projects and new transactions
• Conduct user access reviews & certificationsList of Accounting systems: RMS (Revenue Management System), SLCM (Securities Lending Credit Management), Oracle, VMW, CBS, MCH, Badger, Cash Manager or Instruct, Salesforce, STARS, Essbase, Discoverer Viewer, Oracle Finapps Process Re-Engineering, Standardization, and Automation:
• Lead process Re-Engineering, Standardization, and Automation efforts
• Drive ongoing process enhancements
• Execute right-placement strategy
• Support implementation of GAO process re-engineering and automation initiativesJob Requirements:Education and Experience:
• Master's Degree in Accounting, Chartered Accountant (CA) or Certified Public Accountant (CPA)/MBA-Finance with 3-7 years of progressive experience in R2R domains within leading financial institutions
• Extensive hands-on experience and understanding of US GAAP and IFRS accounting standards
• Thorough knowledge of supported products
• Familiarity with global regulatory requirements, involvement with statutory accounting/reporting entities in various major international regions
• Track record of establishing and upholding a robust control environment, including experience with SOX, RCSA controls, and developing policies and procedures
• Demonstrated leadership in enhancing/building out process groups for multiple geographies and business segments
• Extensive experience managing teams handling daily accounting operations, month-end and quarter-end activities for mentioned accounting areas
• Experience leading R2R process re-engineering efforts and promoting centralization of end-to-end activities for top financial institutionsSkills required:
• Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), advanced Excel skills (pivot tables, formulas, workbook maintenance best practices)
• Familiarity with Hyperion Essbase, Oracle Financials
• Knowledge of Spotfire, Tableau, Cognos data analytics and visualization tools (or equivalent)
• Conceptual grasp of company-wide financial architecture (GL, sub-GL technology, specialized tools) relevant to the aforementioned process groups
• Strong communication skills at a senior level, adept at presentations and interaction with diverse stakeholders (Legal Entity, Geography controllers) in NA, EMEA, APAC
• Experience in first or second level management
• Ability to make independent decisions, demonstrate strategic thinking
• Ownership mentality with a focus on delivering high-quality results promptly
• Self-driven, confident, and self-sufficient
• Excellent analytical skills, capable of analyzing and summarizing intricate financial transactions
• Keen attention to detail
• Problem-solving aptitude
• Highly organized, able to multitask and perform under tight deadlines
• Adaptability to work in a fast-paced environment

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