Global Accounting Operation

2 months ago

Bengaluru, India State Street Full time

Basic Purpose of Job::

The Revenue, AR, BU Accountant will be responsible for all aspects of revenue recognition, US GAAP, and day-to-day operation that provide support to Global Revenue Accounting group.This individual will provide subject matter expertise in the area of accounting related to Revenue Accounting which include:

Accounts Receivable; Billed (including aging’s)

Fee Reserve Analysis

Revenue Adjustments and Intercompany Revenue

Account Reconciliations & Certifications

Monitoring & Processing of Client Concessions / Revenue Reversals

Project management skills

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:

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 accounting transactions. Coordinate with onshore team / Accounting Policy to determine appropriate accounting treatment for complex transactions

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.

Perform the following Accounting activities:

Daily:

• Monitor General Ledger activity for accuracy based on US GAAP rules

• Preparation of manual journal entries for cash application and performing reconciliation between bank v/s sub-ledger

• Cash application of receivables

• Follow up with the Business on aged billed items

Monthly:

• Maintain accuracy of revenue accounting 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/procedures and flow charts

• Response to internal and external requests including variance analysis and inquires

• Participate in Ad Hoc projects and new transactions

• Perform user access reviews & certifications

List of Accounting systems:

Oracle

VMW

CBS

MCH

Badger Information Classification: Limited Access

Cash Manager or Instruct

Salesforce

STARS

Essbase

Discoverer Viewer

Oracle Finapps

Process Re-Engineering, Standardization, and Automation:

• Lead the process Re-Engineering, Standardization, Automation

• Responsibility for ongoing process improvements

• Responsibility for execution of right-placement strategy

• Implementation support of the GAO process re-engineering and automation efforts

Job Requirements:

Education and Experience:

• Degree in Accounting, Masters, Chartered Accountant (CA)/PMP/MBA-Finance with 3-4 years of progressive experience in R2R areas with major financial institutions

• Understanding of international regulatory landscape, experience with statutory accounting/reporting groups across several major international geographies.

• 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 above process groups for multiple geographies and business areas

• Extensive experience of managing teams performing day-to-day accounting operations, month-end and quarter-end activities for the above areas of accounting

• Experience of leading re-engineering of R2R (record-to-report) 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 Hyperion Essbase ,Oracle Financials

• Knowledge of Spotfire, Tableau, Cognos data analytics 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

Good communication skills, presentation skills, prior experience of interacting with multiple stakeholders (Legal Entity and Geography controllers) in NA, EMEA, APAC

• Pride of ownership with the ability to deliver high quality results timely

• 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

Responsible for accurate documentation of Requirements for GAO for the Client Cash process. Assist tech writers with the required SOP's. Good understanding of AR and Revenue related process. Projects handled in the past with regards to process/system migration and new process/system set up will be advantage. 

• Prepare and update process narratives/procedures and flow charts

• Response to internal and external requests and inquires on AR and revenue process

• Participate in Ad Hoc projects and new transactions

• Perform user access reviews & certifications and UAT

Responsible for accurate documentation of Requirements for GAO for the Client Cash process. Role requires working with CSO BA to document, and taking the new process through IT releases and Client conversions. Also provide support to the Production process as required. Assist tech writers with the required SOP's. Good understanding of AR and Revenue related process. Projects handled in the past with regards to process/system migration and new process/system set up will be advantage.

•• Prepare and update process narratives/procedures and flow charts

•• Response to internal and external requests and inquires on AR and revenue process

•• Participate in Ad Hoc projects and new transactions

•• Perform user access reviews & certifications and UAT

•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

• Cash application of receivables

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