Specialized Accounting - Assistant Manager

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.

Basic Purpose of Job:: The Team Lead will be responsible for the preparation of accounting entries and reporting schedules under US GAAP, IFRS, German accounting standards and Regulatory standards for Investment, Loan Derivatives, SLB, FX products etc.

This individual will develop extensive operational knowledge and provide subject matter expertise in the area of accounting related to Investment, Loan Derivatives which include: Adjustments to USGAAP Multiple internal entities Internal Break Analysis Purchases and sales Investment Accounting In addition to Business As Usual (BAU) responsibilities as described above, this role will be involved in the process re-engineering, standardization, and automation efforts.

Responsibilities & Tasks Include: Business As Usual (BAU) Activities: 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 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 Closolidation & Retained Earnings Breaks Monitor P/L movement Monitor Cash Colloteral 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 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 Job Requirements: Education and Experience: Master’s Degree in Accounting, Chartered Accountant (CA) and Certified Public Accountant (CPA)/MBA-Finance with 5+ 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 Skills required : 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, EM