Global Accounting Operations - Close & Consolidation _ Assistant Vice President Global Accounting Operations - Close &  …

State Street
in Bangalore, Karnataka, India
Permanent, Full time
Be the first to apply
Competitive
State Street
in Bangalore, Karnataka, India
Permanent, Full time
Be the first to apply
Competitive
State Street
Global Accounting Operations - Close & Consolidation _ Assistant Vice President
Business As Usual (BAU) Activities:
  • Working in close collaboration with the teams in location and Hubs, coordinate the Close process for various geographies across different time zones and teams, taking into account the local regulatory and organizational needs
  • Assist the teams in locations and Hubs to manage the monthly consolidation process aggregating legal entity transactions into top of the house financials. This includes managing local legal entity financials, consolidation systems, eliminating intercompany transactions, equity and minority interest pick up, foreign exchange calculations and accounting adjustments (e.g. IFRS to US GAAP)
  • Participate in maintaining the General Ledger including defining and owning a common chart of accounts, managing and understanding the centralized repository of financial data, managing the associated tools including the Oracle Hyperion Financial Management and the Data Relationship Management (DRM)
  • Support the monthly and quarterly SOX and other certification processes
  • Ensure execution of appropriate controls supported by documented policies and procedures across the relevant groups
  • Provide timely data, reporting and needed analytics to senior management and other key stakeholders
  • Support regulatory requests and associated regulatory reporting
  • Inculcate a culture within the CoE of ongoing self-assessment to continuously better the effectiveness and the efficiency of the Close process
  • Ensure significant attention to Risk Excellence to ensure compliance with internal policies and regulatory standards during the monthly Close process
  • Develop and maintain a high performing CoE team that is highly motivated to effectively deliver on the business as usual activities and support the transformation efforts

Transformation:
  • Assist the GPO in defining a strategic end-state that not only significantly improves the speed of the current Close process, but also enhances control and governance mechanism, increases transparency and reliability of data, is nimble enough to timely react to changes in the regulatory standards, is efficient and effective in its use of resources across locations and is well supported by a technology platform ("best in class")
  • Assist in evaluation of the current Close process for various geographies and legal entities including the underlying activities, policies, infrastructure, and control and governance mechanisms to assess areas of improvement and transformation
  • Develop an implementation plan to execute on the strategic vision and partner with key internal technology resources and external vendors to ensure the "best in class" process is well supported by a comprehensive technology solution
  • Develop reporting framework to provide periodic updates to senior management on the status of the transformation efforts and escalate issues, as needed
  • Support development of a change management process to ensure changes to accounting standards and internal processes are reflected timely in the Close process
  • Support identification and implementation of appropriate controls including the four-eyes review to ensure accuracy of financials
Close
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