Job Description

Functional Job Title: Senior Associate (Assistant Manager) - Expense (Lease AccountingBackground:State Street Global Accounting Operations (GAO) is a process-driven function 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
• Project accounting
• Balance sheet substantiation and system to system reconciliations
• Transfer pricing
• Financial Systems Support

Each global process above is managed by a Global Process Owner (GPO) who owns all aspects of BAU production work, process re-engineering, and automation.Goal of the position:

• Accountable to manage end to end Expense Accounting, reporting activities from GFC (Global Finance Centre).
• Partner with GPO to drive process and controls improvements and process automation.
• Successful delivery of Transformation & Re-engineering projects

Responsibilities & Tasks

• Perform month-end, quarter-end, and year-end close processes to verify all entries have been created and posted, ensuring completeness, accuracy, and reporting integrity.
• Prepare, Review and post journal entries to record accrued expenses in the correct period, amortize prepaid expenses and fixed assets while maintaining schedules that tie to the balance sheet.
• Ensure an accurate and timely period-end close by ensuring all transactions are recorded, journal entries are posted, accounts are reconciled where needed and consolidated at required level.
• Prepare month end variance analysis & explain the variance to support key stakeholders of the team to present analytical results, findings.
• Be the first point of contact for assigned account and ensure that compliance requirements are adhered to (e.g. company policies surrounding standard of conduct, information security, employment regulations)
• Responsible for daily review of lease invoices received, follow up with vendors on discrepancies as needed.
• Reconcile lease recurring cost against lease amortization schedule and control documentation.
• Review and analyze new lease agreements & prepare and update lease schedules for any changes and modifications.
• Book lease journal entries, record depreciation expense
• 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 a particular accounting transaction.
• Ensure SOPs are updated with the most recent procedure.
• Participate & contribute Re-Engineering, Automation and other ERP Implementation Initiatives

Education and Experience:

• Bachelor/masters degree in finance or MBA
• Accounting qualification (ACA, ACCA, CPA, CIMA)
• 6-8 years of progressive experience in Accounting Operations, Controllers in Record to Report
• Experience of working in Controllership/Accounting teams in a Shared Services environment for Lease Accounting - knowledge of Co-Star a plus
• Extensive practical experience and knowledge of the US GAAP and IFRS accounting standards
• Experience of building and maintaining strong control environment (risk excellence, experience with SOX, RCSA controls, etc.), establishing procedures and strong internal controls.
• Hands on experience in creating and maintaining strong control environment.

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 Essbase, Oracle Financials
• Knowledge of Spotfire, Tableau, data analytics, Macros 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
• Strong attention to details & Problem-solving skill.
• Good knowledge of accounting concepts related to Profit and Loss Account and Balance sheet.
• Must be able to work in a fast-paced environment.
• Problem solving skill.
• Highly organized with ability to multi-task and work under high pressure deadlines.
• Independent decision-making capabilities demonstrated thought leadership.
• Strong analytical and ability to analyze and summarize complex financial transaction.

State Street