Balance Sheet Substantiation - Team Lead

Job Profile                                                                                                                                         Bangalore

Functional Job Title:         : Balance Sheet Substantiation – Team Lead

Reports to                                            : Balance Sheet Substantiation -Manager/Senior Manager

Department/ Division        : Controllers/Finance

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:

• Team lead in this role will be responsible for supporting the preparation of monthly balance sheet reconciliations.
• Partners with Line Manager to drive process and controls improvements and process automation
• Ability to partner with internal and onshore teams and ensure successful delivery of Balance Sheet Substantiation projects/initiatives

Business as Usual (BAU) Activities

• Perform monthly Balance sheet reconciliations for various assigned accounts on a timely basis to a high standard. Perform self review and identify key risks and opportunities to improve.
• Full ownership of timeliness and quality of the output, no backfall on donor entities or onshore Service Delivery Teams
• Ensure that accounting processes and procedures are followed and completed to support and reinforce key business objectives
• Ensure all Reconciliations are prepared in line with the requirements of the Balance Sheer Reconciliation Policy
• Ensure all the open items on these reconcilaitions are correctly recorded and timely cleared.
• Ensure proper reconciliation controls are in place and are adhered to at all times and also monitor control effectiveness
• Identify potential risks and remediation of process deficiencies.
• Assist in the development of of additional controls and identification of preventative measures
• Assisting in  Requirements gathering, Gap Analysis and Facilitate testing, record deviations, close gaps and ensure seemless BAU transitions
• Work closely with IT, Vendor and project team  to improve the reconciliation process
• Creating procedures and keeping current procedures up to date per BSS Policy
• Meeting SLA requirements and maintaining high Balanced Scorecard ratings
• Escalate any issues to line manager and avoid any unfavourable impact on process delivery.
• Adhere to and complete all requirements of the GAO Control Hub
• Accountable for the delivery of any monthly reporting activity assigned.
• Establish strong working relationships with key stakeholders, own and proactively manage key relationships.

Process Re-Engineering, Automation and Change Management

• Partnering with GPO, FRIBS and Technology to drive process re-engineering and automation.
• Continuous process improvement leveraging GAO ideation and issue tracking frameworks
• Partnering with transition management team and donor entities to ensure effective and efficient transition of activities into the Hub
• Partner with Line Manager and ensure successful delivery of the projects/initiatives of Balance Sheet Substantiation Team

• Bachelor/Master Degree in Finance or MBA
• 5-7 years of progressive Business analyst in Balance Sheet Reconciliation and Substantiation, Accounting Operations, Controllers, Business Controls, Finance & Risk Assurance
• Experience of working with offshore support model
• Understanding of Oracle - Sub Ledger Accounting
• Practical experience and knowledge of the US GAAP and IFRS accounting standards.
• Technical experience in System design/Interfaces and data flow into ERP system is a plus

• Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices)
• Possess good levels of understanding of current technological platforms introduced by Oracle, viz : workday, ARCS, Oracle Cloud platforms, forms/reports , other development tools etc.
• 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
• Pride of ownership with the ability to deliver high quality results timely
• 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

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