Controller, Srassc

**Job Description**:

- Functional Job Title : Revenue, AR, BU Accounting SME- Reports to : Revenue, AR, BU Accounting and Billing CoE Lead - AVP- Department/ Division : Corporate Finance CoE, Bangalore/Hyderabad- 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 & Consolidations, Revenue/Expense Accounting, Payroll Accouting, Intercompany Transactions, Specialized/Producting Accounting, Cash/Deposit governance and others. Each global unit will be responsibe 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:- Revenue Accruals under GAAP/IFRS revenue recognition principles
- Fee Reserve Analysis
- Revenue Adjustments and Intercompany Revenue
- Account Reconciliations & Certifications
- Accounts Receivable; Billed and Unbilled (including aging’s)
- Monitoring & Processing of Client Concessions / Revenue Reversals
- SOX Controls
- Cash Applications
- In addition to Business As Usual (BAU) responsibilities as described above, this role will lead the process re-engineering, standardization, and automation efforts.- Responsibilities & Tasks Include:
- 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 “owner’s mind set”, work independently, and effectively manage timelines
- Manage resources to assist with ad-hoc projects and new transactions to support the GAO Accounting controller group
- Lead the day to day activities of an accounting team that is performing Revenue Accounting.
- Performing managerial reasonableness reviews and discussing reporting & analytics deliverables prepared by the team to ensure results make sense, that messaging is on point for the audience and ensuring the core objective of the deliverable is met
- 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.
- 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 deliverables 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 deliverables revolve around
- Collaborate with Revenue Operations (Billing) teams on initiatives, errors, new contracts, etc.
- Oversight of Revenue team performing the following Accounting activities:
- Daily:
- Monitor General Ledger activity for accuracy based on US GAAP rules
- Preparation of manual journal entries for accrual and adjustment revenue activities
- Follow up with the Business on aged billed and unbilled items
- Monthly:
- Maintain accuracy of revenue accrual process
- Coordinate month-end close including preparation / oversight of manual journal entries Oversight of account reconciliations and certifications
- Perform SOX controls
- Quarterly:
- Prepare Regulatory and Internal reporting
- Perform SOX control testing
- Fee Reserve Analysis
- Ad-Hoc:
- Prepare and update process narratives/