Basic Purpose of Job::

Responsibilities

The Revenue, AR, BU Accounting SME will be responsible for all aspects of revenue recognition, US GAAP, and day-to-day management of a team of experienced Accounting professionals that 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 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

Financial reviews with controllers / RIC

Financial Reporting for Regulated LE

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 team that is performing Revenue Accounting.

Performing managerial reasonableness reviews and discussing reporting & analytics deliverables prepared by the team 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

First point of escalation within the local reporting line for dealing with issues (people/process/technology) and ensuring that compliance requirements are adhered to (e.g. company policies surrounding standard of conduct, information security, Compliance)

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

Information Classification: Limited Access

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.

Daily

Oversight of Revenue team performing the following Accounting activities:

Monitor General Ledger activity for accuracy based on US GAAP rules

Preparation of manual journal entries for accrual and adjustment revenue activities

Cash application of receivables

Follow up with the Business on aged billed and unbilled items

Monthly

Maintain accuracy of revenue accrual process

Coordinate month-end close including preparation / oversight of manual journal entries Oversight of account reconciliations and certifications

Perform SOX controls

Quarterly

Prepare Regulatory and Internal reporting

Perform SOX control testing

Fee Reserve Analysis

Ad-Hoc

Prepare and update process narratives/procedures and flow charts

Response to internal and external requests including variance analysis and inquires

Participate in Ad Hoc projects and new transactions

Perform user access reviews & certifications

List Of Accounting Systems

RAW (Revenue Accrual Workstation)-ORMB-CBS-MCH-Badger-Cash Manager or Instruct

Salesforce-STARS-Essbase-Discoverer Viewer-Oracle

Process Re-Engineering, Standardization, And Automation

Lead the process Re-Engineering, Standardization, Automation

Responsibility for ongoing process improvements

Responsibility for execution of right-placement strategy

Implementation support of the GAO process re-engineering and automation efforts

Job Requirements

Education and Experience:

Master's Degree in Accounting, Chartered Accountant (CA) or Certified Public Accountant (CPA)/MBA-Finance with 12-14 years of advanced experience in R2R with big financial institutions

Extensive practical experience and knowledge of the US GAAP and IFRS accounting standards

In-depth knowledge of the supported products.

Understanding of international regulatory landscape, experience with statutory accounting/reporting groups across several major international geographies.

Experience of building and maintaining strong control environment (risk excellence, experience with SOX, RCSA controls, etc.), establishing policies, procedures and strong internal controls.

Demonstrated leadership in improving/building-out the above process groups for multiple geographies and business areas

Extensive experience of managing teams performing day-to-day accounting operations, month-end and quarter-end activities for the above areas of accounting

Experience of leading re-engineering of R2R (record-to-report) processes and driving similar centralization of the end-to-end activities for the major financial institutions

Information Classification: Limited Access

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, Alteryx, Python, PowerBI data analytics and visualization 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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Job ID: R-797683

GAO - Revenue Accounting Assistant Vice President