Reports to : Balance Sheet Substantiation – VP
Department/ Division : Controllers/Finance
Background:
Driven by the State Street Beacon initiative, functionalization of corporate functions and re-alignment of the Finance operating model, State Street has established Global Accounting Operations (GAO) in 2017. GAO is a process-driven function responsible for all record-to-report (R2R) processes within Controllers including:
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.
Organizationally GAO combines all groups performing these activities globally – approximately 500 employees as of 1Q19.
Majority of GAO capacity (circa 80%) is concentrated in 2 Global and 2 Regional GAO Hubs where activities are organized by process:
Remaining 20% of activities reside within Regional Service Delivery Teams supporting NAM, EMEA and APAC regions. These teams are organized by business unit and material legal entity and act as an interface between Global and Regional Hubs and non-GAO stakeholders – Controllers, FP&A, Treasury, and Tax etc.
Goal of the position:
Business as Usual (BAU) Activities:
End-to-end accountability for all operational reconciliation and certification processes performed in the Hub (growing scope as more processes are transitioned from high cost locations to the hub) Full ownership of timeliness and quality of the output, no backfall on donor entities or onshore Service Delivery Teams Oversight of JV processes and output, escalation point for JV who have a matrix reporting into the Hub Timely provision of accurate and complete set of data to internal and external GAO and non-GAO stakeholders (e.g. GAO Service Delivery Teams, BU Controllers, FP&A, SEC reporting, external audit, etc.) Maintaining robust controls environment: maintaining complete and accurate inventory of processes, risks and controls; timely flagging, tracking and remediation of process, communication and controls deficiencies; maintaining up to date inventory of standard operating procedures; identifying and remediation of inconsistent design of controls within the same tower; monitoring of controls effectiveness Meeting SLA requirements and maintaining high Balanced Scorecard ratings
Process Re-Engineering, Automation and Change Management
Team Management Responsibilities