Emerging Lead
State Street.
Bangalore, India
2d ago

Background :

Driven by the Beacon initiatives, functionalizationof 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 organizationresponsible for the majority of the record-to-report (R2R)activities performed at State Street.

Organizationally, it combinesall groups performing these activities Globally and also includes AccountingCenters residing in State Street Shared Service locations in Poland, India andChina.

GAO organization is established on principles of Global ProcessOwnership and process excellence, owning all aspects ofbusiness-as-usual activities within R2R areas and driving process improvementsand automation Globally.

To achieve this objective, GAO has been structuredinto several distinct global units each is responsible for all aspects ofselected major groups of R2R activities, such as Close & Consolidations,Revenue / Expense Accounting, Payroll Accounting, Intercompany Transactions,Specialized / Product Accounting, Cash / Deposit governance and others.

  • Each globalunit will be responsible for all aspects of business-as-usual activities withintheir group of processes, as well as process re-engineering and automationactivities this includes leading process assessments;
  • driving process designand process re-engineering work; co-owning technology initiatives bringingautomation to GAO organization, working in close collaboration with the teamsin Finance Technology, Finance Re-Engineering, Data Management, and otherpartnership organizations.

    Basic Purpose of Job :

    The Finance COE Specialist will be a criticalmember of the expense allocations team responsible for providing strategicdecision support, financial analysis, and reporting in conjunction withsupporting the Global Services / Global Delivery business area.

    The Specialistwill develop a thorough understanding of State Street’s business practices toeffectively perform independent, complex reporting or analytics to support thead-hoc needs of the businesses.

    Reporting to the Finance CoE Manager, theSpecialist will perform a variety of activities associated with expenseallocations, unit-costing and reporting and analytics.

    The position requiresexcellent analytical, research and financial modeling ability, coupled withstrong communication and time management skills.

    The successful candidate willbe comfortable interfacing and presenting to senior and executive management,both within the finance team and operations.

    Responsibilities & Tasks Include :

  • Production and analysis of SDAs under GSAhierarchy (GS Americas, GS EMEA, GS APAC, IMS, AIS) which includes approx 350RCs.
  • Monthly / Quarterly SDA reporting package includingvariance explanations related to changes vs. budget and prior year.
  • Develop historical unit cost database to be usedfor executive reporting and analysis.
  • Oversight of non-unit cost allocations including,driver data review, allocation calculation review and client level allocationreview, along with keeping a track of RC allocation cycle.
  • Working extensively on HPCM and HyperionSmartview in developing client-level allocations including driver and mappingsfor all Global Services SDAs along with reviewing them periodically.
  • Adhoc reporting, inquiry responses and projectmanagement as needed.
  • Self-review of reporting & analyticsdeliverables for first pass accuracy and presenting analytical results,findings as needed.
  • Serves as a subject matter expert on expenseallocation related to the Global Services business area and provides guidance,training and oversight to less seasoned analysts.
  • Job Requirements :

    Education and Experience :

  • Bachelor’s / Master’s with 4 6 years relevantexperience ideally covering multiple of the following :
  • Financial Planning & Analysis in a globalsetting
  • Direct support to business or product linemanagement / executives
  • Financial services setting
  • Experience with preparation of budgets formulti-national companies
  • Multi-dimensional profitability (business,product, client)
  • Unit or project costing
  • Project experience
  • Variance analysis and reporting ofinsights
  • Financial modelling
  • Productivity analysis
  • Skills / Knowledge :

  • Must be able to work in a fast pacedenvironment
  • Must possess strong communication skills withability to participate in or lead conference calls and present financialresults to financial and non-financial audiences at various levels ofseniority
  • Pride of ownership with the ability to driveresults within the Business
  • Solid business knowledge (P&Ls, BalanceSheets) as it relates to the financial services industry
  • Proficiency in Microsoft Office suite (Excel,Access, PowerPoint, Word, Visio), advanced levels of excel (pivot tables,formulas, excel workbook maintenance best practices)
  • Knowledge of Expense allocations, Costallocations, BU allocations a definite plus.
  • Knowledge of HPCM, Hyperion Essbase, Smart View amust.
  • Knowledge of Spotfire, Cognos data analytics andvisualization (or similar) a plus
  • Strong Analytical and problem solving skillset
  • This is a visible role. Excellent communication,organizational and presentation skills, and ability to present complexfinancial matters to management
  • Self-motivated, self-assured, andself-managed
  • Results oriented ownership mindset
  • Ability to analyze and summarize complex financialmatters and their impact to the bank
  • Ability to multi-task and work under high pressuredeadlines
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