Job Profile: Team Lead - Balance Sheet Substantiation

Functional Job Title: Balance Sheet Substantiation – Team Lead

Reports to: Balance Sheet Substantiation - Manager/Senior Manager

Department/ Division: Controllers/Finance

Background:

Driven by the State Street Beacon initiative, functionalization of corporate functions, and re-alignment of the Finance operating model, State Street established Global Accounting Operations (GAO) in 2017. GAO is 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, accounts payable, project accounting, balance sheet substantiation, and system-to-system reconciliations, transfer pricing, client profitability, management allocations, and financial systems support.

Each global process above is managed by a Global Process Owner (GPO) who oversees all aspects of BAU production work, process re-engineering, and automation. GAO combines all groups performing these activities globally – approximately 500 employees as of 1Q19, with the majority of GAO capacity concentrated in two Global and two Regional GAO Hubs. Remaining activities reside within Regional Service Delivery Teams supporting NAM, EMEA, and APAC regions. These teams act as an interface between Global and Regional Hubs and non-GAO stakeholders – Controllers, FP&A, Treasury, and Tax.

Goal of the Position:

The Team Lead will be responsible for supporting the preparation and review of monthly balance sheet reconciliations. The individual will partner with the Line Manager to drive process and controls improvements and process automation.

Key Responsibilities:

- Perform or review monthly balance sheet reconciliations for various assigned accounts timely and to a high standard.

- Ensure the accuracy and timeliness of output, with no fallback on donor entities or onshore Service Delivery Teams.

- Ensure adherence to accounting processes and procedures to support key business objectives.

- Prepare reconciliations in line with the requirements of the Balance Sheet Reconciliation Policy.

- Record and clear all open items on reconciliations timely.

- Ensure proper reconciliation controls are in place, adhered to, and monitor their effectiveness.

- Identify and remediate process deficiencies.

- Assist in developing additional controls and preventative measures.

- Support requirements gathering, gap analysis, facilitate testing, record deviations, close gaps, and ensure seamless BAU transitions.

- Work with IT, Vendor, and project teams to improve the reconciliation process.

- Keep current procedures up to date per BSS Policy.

- Meet SLA requirements and maintain high Balanced Scorecard ratings.

- Escalate any issues to the line manager to avoid unfavorable impacts on process delivery.

- Complete all requirements of the GAO Control Hub.

- Deliver any monthly reporting activity assigned.

- Establish and manage key stakeholder relationships proactively.

Process Re-Engineering, Automation, and Change Management:

- Partner with GPO, FRIBS, and Technology to drive process re-engineering and automation.

- Promote continuous process improvement leveraging GAO ideation and issue tracking frameworks.

- Partner with transition management teams and donor entities to ensure efficient transition of activities into the Hub.

- Ensure successful delivery of Balance Sheet Substantiation projects/initiatives.

Job Requirements:

Education and Experience:

- Bachelor/Master Degree in Finance or MBA

- 5-7 years of progressive experience in Balance Sheet Reconciliation and Substantiation, Accounting Operations, Controllers, Business Controls, Finance & Risk Assurance

- Experience with offshore support model

- Understanding of Oracle - Sub Ledger Accounting

- Knowledge of US GAAP and IFRS accounting standards

- Technical experience in System design/Interfaces and data flow into ERP system is a plus

Skills Required:

- Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio) with advanced Excel skills (pivot tables, formulas, workbook maintenance best practices)

- Understanding of current technological platforms by Oracle, including workday, ARCS, Oracle Cloud platforms, forms/reports, etc.

- Knowledge of Hyperion Essbase, Oracle Financials

- Familiarity with data analytics and visualization tools such as Spotfire, Tableau, Cognos, or similar is a plus

- Conceptual understanding of company-wide financial architecture (GL, sub-GL technology, specialized tools)

- Ability to deliver high-quality results timely with strong attention to detail

- Strong problem-solving skills

- Highly organized with the ability to multi-task and meet high-pressure deadlines

- Ability to work in a fast-paced environment

For further information and to apply, please visit our website via the “Apply” button below.