Functional Job Title: Senior Associate - Expense Accounting
Reports to – Officer/ AVP
Background
State Street Global Accounting Operations (GAO) is a process-driven function responsible for all Record-to-Report (R2R) processes within Controllers including:
•Integrated close and intercompany
•Revenue accounting
•Expense accounting
•Specialized product accounting
•Cash and deposit governance
•Project accounting
•Balance sheet substantiation and system to system reconciliations
•Transfer pricing
•Financial Systems Support
Each global process above is managed by a Global Process Owner (GPO) who owns all aspects of BAU production work, process re-engineering, and automation.
Goal of the position
•Accountable to manage end to end Expense Accounting, reporting activities from GFC (Global Finance Centre).
•Partner with GPO to drive process and controls improvements and process automation.
•Successful delivery of Transformation & Re-engineering projects
Responsibilities & Tasks
•Perform Accrual working for month end journals, quarter-end, and year-end close processes to verify all entries have been created and posted, ensuring completeness, accuracy, and reporting integrity.
•Prepare and post journal entries to record accrued expenses in the correct period, amortize prepaid expenses and fixed assets while maintaining schedules that tie to the balance sheet.
•Ensure an accurate and timely period-end close by ensuring all transactions are recorded, journal entries are posted, accounts are reconciled where needed and consolidated at required level.
•Prepare & maintain the accrual aging file.
•Be the first point of contact for assigned account and ensure that compliance requirements are adhered to (e.g. company policies surrounding standard of conduct, information security, employment regulations)
•Reconcile bank, prepaid and accrual accounts, against the supporting and facilitate any entries if required.
•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.
•Work with and support the team in day-to-day activities.
•Ensure SOPs are updated with the most recent procedure.
Education and Experience
•Bachelor/master's degree in finance or MBA
•Accounting qualification (ACA, ACCA, CPA, CIMA)
•4-6 years of progressive experience in Accounting Operations, Controllers in Record to Report.
•Experience of working in Controllership/Accounting teams in a Shared Services environment
•Extensive practical experience and knowledge of the US GAAP and IFRS accounting standards
Skills required
•Proficiency in Microsoft Office suite (Excel, Access, PowerPoint), Medium levels of Excel (pivot tables, formulas, excel workbook maintenance best practices)
•Knowledge of Essbase, Oracle Financials
•Knowledge of Spotfire, Tableau, data analytics, Macros 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
•Self-motivated, self-assured, and self-managed
•Good knowledge of accounting concepts related to Profit and Loss Account and Balance sheet.
•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.
