The Senior Accountant will be responsible for the review and preparation of accounting entries and reporting schedules under US GAAP, IFRS, German accounting standards and Regulatory standards for Investment carried at amortized cost, marked-to-market to-OCI and to the income statement. This individual will develop extensive operational knowledge and provide subject matter expertise in the area of accounting related to investment securities which include:
Adjustments to USGAAP
- Multiple internal entities
- Internal transfers
- Purchases and sales
Investment Accounting
In addition to Business as Usual (BAU) responsibilities as described above, this role will lead the process re-engineering, standardization, and automation efforts.
Business As Usual (BAU) Activities:
Develop the team to adopt “owner’s mind set”, work independently, and effectively manage timelines
May be required to provide accounting analyses or research on critical and complex issues which may include variance analysis of accounting transactions related to the products supported.
Develop subject matter expertise in all aspects of the products under responsibility including operational aspects of a particular accounting transaction.
Participate in or manage function specific projects as needed
Ensure high quality and completion of deliverables within the committed timeframe. Team deliverables revolve around;
Daily:
Monitor investment security realized gain/(loss) and prepare manual journal entries
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Monitor investment security purchase and sale activity
Monthly:
Coordinate month-end close including prepare / review manual journal entries and export accounting system reports
Prepare account reconciliations and certification
Process adjustments to Treasury Data Repository (TDR), complete TDR data checks, and perform TDR reconciliations to ledger
Prepare Regulatory Reporting.
Quarterly:
Prepare Regulatory, SEC, and Internal reporting
Perform CCAR CFO attestation control testing
Perform SOX control testing
Annual:
Response Audit queries and submissions of reports to Auditors and Tax Team.
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
General ledger account requests
Accounting systems maintenance and upgrade
Perform user access reviews & certifications
Perform analysis to support intercompany transfers, prepare automated transfer processing file, validate transfers, and prepare manual journal entries
Process Re-Engineering, Standardization, and Automation:
Responsibility for ongoing process improvements
Assist in implementation of the GAO process re-engineering and automation efforts
Education and Experience:
Master’s degree in accounting, Chartered Accountant (CA) and Certified Public Accountant (CPA)/MBA-Finance with 4-5 years of progressive experience in R2R areas with major financial institutions
Extensive practical experience and knowledge of the US GAAP and IFRS accounting standards for the above areas, experience with other accounting standards (German, etc.) is a plus
In depth knowledge of Accounting for Certain Investments in Debt and Equity Securities ASC 320 former FAS115.
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, procedures and strong internal controls.
Experience working with multi-geographical processes process
Extensive experience performing day-to-day accounting operations, month-end and quarter-end activities for the above areas of accounting
Experience with R2R (record-to-report) centralized processes
Skills required:
Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices)
Knowledge of Hyperion Essbase, Oracle Financials.
Knowledge of Spotfire, Cognos 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
Excellent communication skills, prior experience of interacting with multiple stakeholders (Legal Entity and Geography controllers) in NA, EMEA, APAC
Independent decision-making capabilities
Pride of ownership with the ability to deliver high-quality results timely
Self-motivated, self-assured, and self-managed
Strong analytical ability to analyze and summarize financial transactions related to the products supported
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
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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