The Senior Accountant will be responsible for the preparation of accounting entries and reporting schedules under US GAAP, IFRS, German accounting standards and Regulatory standards for derivatives. This individual will develop extensive operational knowledge and provide subject matter expertise in the area of accounting related to the products which include:
In addition to Business As Usual (BAU) responsibilities as described above, this role will identify opportunities for standardization, and automation efforts.
Responsibilities & Tasks Include:
Business As Usual (BAU) Activities:
- Develop the team to adopt owner's mind set, work independently, and effectively manage timelines
- May be required to provide accounting analyses or research on critical and complex issues which may include variance analysis of accounting transactions related to the products supported.
- Develop subject matter expertise in all aspects of the products under responsibility including operational aspects of a particular accounting transaction.
- Participate in or manage function specific projects as needed
- Ensure high quality and completion of deliverables within the committed timeframe. Team deliverables revolve around
Daily:
- Monitor deposit hedge, prepare manual journal entries and hedge designation summary
- Reconcile Summit derivatives market value to general ledger
- Reconcile the initial margin, variation margin, interest and fees for the derivatives traded with the central clearing house, CME, through the broker to general ledger and prepare manual reclass journal entries as necessary
Weekly:
- Review off-book currency manual journal entries prepared by JV
- Prepare Regulatory reporting for FR2644
Monthly:
- Coordinate month-end close including prepare manual journal entries and export accounting system reports
- Review/Prepare account reconciliations and certification
- Prepare hedge inventory
- Perform hedge effectiveness testing
- Process Servicing Fee Invoice
Quarterly:
- Prepare Regulatory, SEC, and Internal reporting
- Perform CCAR CFO attestation control testing
- Process Intercompany Tax Settlements
- Perform SOX control testing
- Review Operating Cash Inventory
Annual:
- Process Trustee Fee Payments
- Calculate Management Fees
Ad-Hoc:
- Prepare hedge designation summary
- 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
- General ledger account requests
- Accounting systems maintenance and upgrade
- Responsibility for ongoing process improvements
- Assist in implementation of the GAO process re-enginerring and automation efforts
Job Requirements:
Education and Experience:
- Master's degree in accounting, Chartered Accountant (CA) and Certified Public Accountant (CPA)/MBA-Finance with 2-4 years of progressive experience in R2R areas with major financial institutions
- Extensive practical experience and knowledge of the US GAAP and IFRS accounting standards for the above areas, experience with other accounting standards (German, etc.) is a plus
- In depth knowledge of Derivatives and Hedging ASC815, Offsetting of Amounts Related to Certain Contracts FIN39, Accounting
- In-depth knowledge of the Derivatives
- 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, procedures and strong internal controls.
- Experience working with muti-geographical processes process
- Extensive experience performing day-to-day accounting operations, month-end and quarter-end activities for the above areas of accounting
- Experience with R2R (record-to-report) centralized processes
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, 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
- Excellent communication skills, prior experience of interacting with multiple stakeholders (Legal Entity and Geography controllers) in NA, EMEA, APAC
- Independent decision-making capabilities
- Pride of ownership with the ability to deliver high quality results timely
- Self-motivated, self-assured, and self-managed
- Strong analytical ability to analyze and summarize financial transactions related to the products supported
- 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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