Global Accounting Operations – Close, Consolidation & Intercompany, Vice Pr at State Street

Bengaluru, karnataka, India -

Full Time

Start Date

Immediate

Expiry Date

09 Jul, 26

Salary

0.0

Posted On

10 Apr, 26

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

US GAAP, IFRS, Intercompany accounting, Record-to-report, Financial reporting, Process re-engineering, Automation, SOX compliance, CCAR, SEC reporting, Reconciliations, Variance analysis, Oracle Financials, Hyperion Essbase, Data analytics, Stakeholder management

Industry

Financial Services

Description

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 & Consolidation, Revenue/Expense Accounting, Payroll Accounting, Intercompany Transactions, Specialized/Product Accounting, Cash/Deposit governance and others. Each global unit will be responsible 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. Role Scope & Reporting The VP will be responsible for the review and preparation of accounting entries and managing Intercompany related transactions under US GAAP. This individual should possess extensive operational knowledge and should be subject matter expert in the area of accounting related to Intercompany transactions which will include recharges and accounting of capital events. Booking of Intercompany entries in the Primary and Secondary Ledger Knowledge on Reg W Transactions. Managing disputes. Break resolution Apart from the above requirement the candidate should have a complete overview of the IC process and should be readily in involved in project reengineering Core Responsibilities Business As Usual (BAU) Activities: Should have “owner’s mind set”, work independently, and effectively manage timelines May be required to provide accounting analyses or research on critical and complex issues which may include variance analysis of accounting transactions related to the products supported. Develop subject matter expertise in all aspects of the products under responsibility including operational aspects of a particular accounting transaction. Participate in or manage function specific projects as needed Ensure high quality and completion of deliverables within the committed timeframe. Team deliverables revolve around. Daily: Monitor Suspense Activity Monitor Consolidation & Retained Earnings Breaks Monitor P/L movement Intercompany Breaks Monitor Cash Collateral Moves Monthly: Coordinate month-end close including prepare / review manual journal entries and export accounting system reports Prepare account reconciliations and certification Process adjustments to Treasury Data Repository (TDR), complete TDR data checks, and perform TDR reconciliations to ledger Prepare Regulatory Reporting. Prepare SEC reporting Quarterly: Prepare Regulatory, SEC, and Internal reporting Perform CCAR CFO attestation control testing Perform SOX control testing Internal Aduit support Annual: Response Audit queries and submissions of reports to Auditors and Tax Team. 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 General ledger account requests Accounting systems maintenance and upgrade Perform user access reviews & certifications Perform analysis to support intercompany transfers, prepare automated transfer processing file, validate transfers, and prepare manual journal entries Process Re-Engineering, Standardization, and Automation: Responsibility for ongoing process improvements Assist in implementation of the GAO process re-engineering and automation efforts Key Stakeholders BU Finance LE Controllers FP&A / Insight centers Corporate Accounting Technology & Data teams Internal Audit & External Audit Education & Preferred Qualifications Master’s Degree in Accounting, Chartered Accountant (CA) and Certified Public Accountant (CPA)/MBA-Finance with 10-12 years of progressive experience in R2R areas with major financial institutions Extensive practical experience and knowledge of the US GAAP and IFRS accounting standards for the above areas, experience with other accounting standards (German, etc.) is a plus In depth knowledge of Accounting for Certain Investments in Debt and Equity Securities ASC 320 former FAS115. 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, procedures and strong internal controls. Experience working with multi-geographical processes process Extensive experience performing day-to-day accounting operations, month-end and quarter-end activities for the above areas of accounting Experience with R2R (record-to-report) centralized processes Critical Competencies Own end‑to‑end accounting operations, including daily monitoring, month‑end close, journals, reconciliations, and timely, high‑quality delivery. Apply strong technical, intercompany, and analytical skills to resolve variances, breaks, complex transactions, and stakeholder queries. Ensure regulatory, SEC, and control compliance, including SOX, CCAR testing, and audit support with strong documentation and governance. Drive process improvement, supporting standardization, automation, system maintenance, and robust SOPs. Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices) Knowledge of Hyperion Essbase ,Oracle Financials. Knowledge of Spotfire, 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 Excellent communication skills, prior experience of interacting with multiple stakeholders (Legal Entity and Geography controllers) in NA, EMEA, APAC Independent decision-making capabilities Pride of ownership with the ability to deliver high quality results timely Self-motivated, self-assured, and self-managed Strong analytical ability to analyze and summarize financial transactions related to the products supported 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 Success Measures Stable, predictable Close process & Intercompany process Strong audit outcomes with no material findings High confidence from Finance leadership in GAO numbers Reduced recurring issues and manual interventions What We Value Demonstrated thought leadership: clear vision of what good is and ability to challenge status quo. Excellent execution and project management skills: ability to structure a work effort and take it to completion. Strong stakeholder management skills: understanding the impact on stakeholders, proactive and preemptive communication, ability to influence seniors. Ownership and accountability mind set, self-motivated, self-starter attitude. Excellent communication skills: ability to analyze, interpret and communicate complex issues at senior level. Highly organized with ability to multi-task and work under pressure Good understanding of the building blocks of financial technology architecture Are you the right candidate? Yes! We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit. About State Street What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients. Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential. Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you. State Street is an equal opportunity and affirmative action employer. Discover more at StateStreet.com/careers About State Street Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success. We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future. As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law. Discover more information on jobs at StateStreet.com/careers Read our CEO Statement Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success. We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future. As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law. Discover more information on jobs at StateStreet.com/careers Read our CEO Statement

Responsibilities

The Vice President will manage intercompany transactions, oversee month-end close processes, and ensure compliance with US GAAP and regulatory reporting standards. They will also lead process re-engineering and automation initiatives to improve the efficiency of global accounting operations.