Job Description
Background:
State Street has established a Global Billing Function under Controllership, which is responsible for client billing set up and invoicing across all business lines and geographies globally at State Street. Organizationally, it combines all groups performing these activities globally, and also includes centers residing in State Street Shared Service locations in Poland, India and China. Billing Organization owns aspects of business-as-usual activities within billing areas and also drives process improvements and automation.
Basic Purpose of Job:
GBO Governance & Compliance team within GBO is responsible for various activities like Audit Assurance coordination, Billing Metrics Reporting, Compliance Review, Issues and Incident resolution, Corrective Action tracking, and Training & development. The individual will be directly responsible for daily management of the production of accurate, consistent, and timely reporting deliverables of incidents, issues and corrective actions, audit status. This individual will provide subject matter expertise and analytics to drive insights regarding the global billing process. In addition to Business As Usual (BAU) responsibilities as described above, this role will also be involved in process standardization and automation efforts. Leadership of managing the daily BAUs related issues & help to find the resolution as quick as possible and escalate the issue as appropriately
Responsibilities:-
Business As Usual (BAU) Activities:
- Assist in logging issues and incidents into the Bank’s risk managements system
- Report the status of monthly issues, incidents and corrective action report to the GBO Management
- Document controls and add them to the Bank’s Risk management system
- Co-ordinate multidisciplinary audit teams, managing projects schedules and resources to ensure successful engagement delivery
- Execute a framework to test if the internal systems supporting compliance with regulatory requirements for Global Billing, are properly designed, documented and implemented.
- Validate controls, identify and assess issues, and work with GBO management to track them to resolution.
- Prepare and update process narratives/procedures and flow charts, if required
- Develop expertise in Billing related controls, best practices and expectations
- May be asked to participate in other activities within the team to support overall global billing risk management objectives and goals.
- General responsibility of ensuring all the governance deliverables are performed based on the deliverable calendar and no SLA is missed
- Sourcing/procuring data is done accurately and timely
- Execute various data integrity checks on source data
- Liaising with all stake holders and communicating timely and effectively
- Work closely with the Lead to ensure instructions pertaining to changes and corrections are adhered to
- Ensure all mandatory training and process level training are completed as per deadlines.
- Adhoc Request – Tailoring to adhoc and new report requirement and ensure guidelines and protocols are followed
- Adopt “owner’s mind set”, work independently, and effectively manage timeline
- Drive efficiencies and create a more agile work process. Maintain a robust control environment: process controls, process oversight and process governance responsibility. Ideation and Automation to help in process improvements
- Handle ad-hoc reporting projects encompassing operations.
Expectations:
- Bachelor’s degree in accounting, finance, economics, statistics, or a related field and 14+ years experience ideally covering the following:
- Internal audit, risk or compliance experience
- Experience in process and controls mapping methodologies
- Financial services setting
- Experience of having managed large audit projects
- Knowledge of regulatory requirements in Finance
- CIA or CPA certifications or candidates preferred
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