Revenue - ORMB - Assistant Manager

Functional Job Title : Revenue Accounting SME

Reports to : Revenue Accounting Lead

Department/ Division : Corporate Finance CoE, Bangalore

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::

The Revenue Accounting SME will be responsible for all aspects of revenue recognition, US GAAP, and day-to-day management and 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:

• Revenue Accruals under GAAP/IFRS revenue recognition principles

• 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

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 process that is performing Revenue Accounting.

• Performing reasonableness reviews and discussing reporting & analytics deliverables 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

• 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

• 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.

List of Accounting systems:

Oracle

CBS

MCH

Badger

Cash Manager or Instruct

Salesforce

STARS

Essbase

Discoverer Viewer

Oracle Finapps

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

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

• First or second 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

• Must be able to work in a fast paced environment

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.

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