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Job description
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:
Preparation, posting and Analysis of month on month Revenue Accruals under GAAP/IFRS revenue recognition principles
Fee Reserve booking and 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/Audit walk
Cash Applications
Loss booking
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 Include
Collaborate closely with the stakeholder (LFO. Business and FPNA) 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
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.
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