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Global Billing Operations

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 also 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 also drives process improvements and automation.

Basic Purpose of Job:

The Client Set-up SME 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 Street’s 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 down stream process hence the role need eye for detail. Reporting to the Finance CoE Manager, the officer will be assigned to the Billing COE, working remotely alongside in-market team members to close a multitude of activities associated with client invoice generation and analytics of the assigned business units (BU).

In addition to Business As Usual (BAU) responsibilities as described above, this role will also be involved in process re-engineering, standardization, and automation efforts.

Responsibilities:-

Business As Usual (BAU) Activities:

General responsibility for all operational Client Setup activities

End-to-end responsibility for a major group of the billing process: Setup team activities

Oversee and manage the Global Billing Setup team to achieve global consistency and effectiveness in controls; accurate, quality work; and transparency into activities and results. Maintain a robust control environment: process controls, process oversight and process governance responsibility

Develop the team to adopt “owner’s mind set”, work independently, and effectively manage timelines

Measure progress toward goals; and evaluate productivity and team efficiency. Review and assess regularly with team members and with management

May serve as a subject matter expert on particular billing related issues

Coaches the team and provide the feedback

Process Re-Engineering, Standardization, and Automation:

Assist with the process Re-Engineering, Standardization, and Automation efforts for invoicing

Responsible for ongoing process improvements

Expectations:

Bachelor’s/Master’s Degree in Finance with an experience minimum of 05 to 08 years working with invoices in a global billing function at a large financial services institution.

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

Experience of building and maintaining strong control environment (risk excellence, experience with SOX, RCSA controls, etc.), establishing policies, procedures and strong internal controls.

Demonstrated leadership in improving/building-out the invoice function for multiple geographies and business areas

Experience assisting with re-engineering processes and driving similar centralization of the end-to-end activities for the major financial institutions

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

First 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

Problem solving skill

Highly organized with ability to multi-task and work under high pressure deadlines

Team Management

Must be able to work in a fast paced environment

Other Skills required: