Revenue_Accounting_AVP

STATE STREET CORPORATION; Bengaluru; On-site; INR 3,500,000 - 5,500,000; Full time

Job summary

State Street Corporation in Bengaluru seeks a Revenue, AR, BU Accounting SME – AVP to lead revenue recognition, US GAAP compliance, and day-to-day management of a skilled accounting team supporting the Global Revenue Accounting group.

This role provides subject matter expertise across revenue accruals, intercompany reconciliations, and SOX controls, while driving process re-engineering, standardization, and automation to improve efficiency and accuracy across geographies.

Qualifications

• Master’s Degree in Accounting, CA/CPA or MBA-Finance with 12-14 years in R2R at major financial institutions.
• Extensive knowledge of US GAAP and IFRS; strong internal controls and SOX experience.
• Ability to lead re-engineering and automation in R2R processes across geographies.

Responsibilities

• Oversee revenue recognition, accruals, and intercompany revenue reconciliations.
• Manage a team of accounting professionals; ensure timely BAU deliverables and report accuracy.
• Lead SOX controls testing and regulatory/internal reporting.
• Drive process re-engineering, standardization, and automation initiatives.
• Drive process re-engineering, standardization and automation initiatives.

Skills

Excel advanced

Leadership

Communication

Stakeholder management

Presentation skills

Team coaching

US GAAP knowledge

IFRS knowledge

Power BI

Education

Master’s Degree in Accounting

CA or CPA

MBA-Finance

Tools

Hyperion Essbase

Oracle Financials

Spotfire

Tableau

Alteryx

Python

RPA

PowerBI

Job description

Functional Job Title

Revenue, AR, BU Accounting SME –AVP

Reports to : Revenue, AR, BU Accounting and Billing GPO – VP

Department/ Division : Controller GFC, Bangalore

Basic Purpose of Job

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 Fee Reserve Analysis 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 Cash Applications Financial reviews with controllers / RIC Financial Reporting for Regulated LE of Canada 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

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, employment regulations) 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 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. Oversight of Revenue team performing the following Accounting activities:

• Daily:
  • 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 progressive experience in R2R areas with major 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
• 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, RPA, PowerBI 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 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

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.