State Street Released Job Openings On 15/08/2023.State Street Corporation is an American financial services and bank holding company headquartered at One Lincoln Street in Boston with operations worldwide. It is the second-oldest continually operating United States bank; its predecessor, Union Bank, was founded in 1792.Eligibility Criteria / Educational Qualification, Official Notification, Apply Online Form Link & Other Relevant Details for State Street s Recruitment 2023 are provided below. Interested and eligible candidates can submit application along with resume.
Vacancy Details:
State Street Recruiting CA,MBA,CPA Graduates with 12+ years experience for Assistant Vice President – Global Accounting Operation Position.Complete Details for the Assistant Vice President – Global Accounting Operation follows.
Important Details :
- Location : Bengaluru – Hybrid
- No of Vacancies:Not Disclosed By Recruiter
- Details of Salary:Not Disclosed By Recruiter
- Opening date for online Application: 15/08/2023
- Mode of application :Online
Related Job : Submit Resume : Swiss Re Recruiting CA/CFA/FRM/MBA Freshers And Experienced
Job Description/Skills Required
The Revenue AVP will be accountable and responsible for all aspects of revenue recognition US GAAP, AR reporting and day-to-day management of a team of experienced Accounting professionals .
- Revenue Accruals under GAAP/IFRS revenue recognition principles
- Revenue Adjustments and Intercompany Revenue
- Accounts Receivable; Billed and Unbilled (including aging’s)
- SOX Controls
- Fee Reserve Analysis
- Account Reconciliations & Certifications
- Monitoring & Processing of Client Concessions / Revenue Reversals
- Cash Applications
Responsibilities & Tasks IncludeBusiness 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.
DailyOversight 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
Quaterly
- Prepare Regulatory and Internal reporting
- Perform SOX control testing
- Fee Reserve Analysis
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