• Global Accounting Operations - Specialized Accounting _ Team Lead Jobs in Bangalore,India - 25720740

  • STATE STREET CORPORATION
  • Save Job
  • 2 - 4 Years
  • Posted : above 1 month

Job Description:

The Senior Accountant will be responsible for the preparation of accounting entries and reporting schedules under US GAAP, IFRS, German accounting standards and Regulatory standards for derivatives This individual will develop extensive operational knowledge and provide subject matter expertise in the area of accounting related to the products which include

Derivatives Non Hedging

FX swaps

Options

Futures

In addition to Business As Usual (BAU) responsibilities as described above, this role will identify opportunities for standardization, and automation efforts

Responsibilities & Tasks Include Business As Usual (BAU) Activities

Develop the team to adopt owners 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 deposit hedge, prepare manual journal entries and hedge designation summary
Reconcile Summit derivatives market value to general ledger
Reconcile the initial margin, variation margin, interest and fees for the derivatives traded with the central clearing house, CME, through the broker to general ledger and prepare manual reclass journal entries as necessary

Weekly

Review off-book currency manual journal entries prepared by JV
Prepare Regulatory reporting for FR2644

Monthly

Coordinate month-end close including prepare manual journal entries and export accounting system reports
Review/Prepare account reconciliations and certification
Prepare hedge inventory
Perform hedge effectiveness testing
Process Servicing Fee Invoice

Quarterly

Prepare Regulatory, SEC, and Internal reporting
Perform CCAR CFO attestation control testing
Process Intercompany Tax Settlements
Perform SOX control testing
Review Operating Cash Inventory

Annual

Process Trustee Fee Payments
Calculate Management Fees

Ad-Hoc

Prepare hedge designation summary
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
Responsibility for ongoing process improvements
Assist in implementation of the GAO process re-enginerring and automation efforts

Job Requirements Education and Experience Masters Degree in Accounting, Chartered Accountant (CA) and Certified Public Accountant (CPA)/MBA-Finance with 2-4 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 Derivatives and Hedging ASC815, Offsetting of Amounts Related to Certain Contracts FIN39, Accounting
In-depth knowledge of the Derivatives, Long Term Debt and Preferred Stocks
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 muti-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, Visio), 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

Profile Summary:

Employment Type : Full Time
Eligibility : Any Graduate
Industry : Banking, Financial Services/Stockbroking
Functional Area : Accounting/Tax/Company Secretary/Audit
Role : Cost Accounting/ ICWA
Salary : As per Industry Standards
Deadline : 22nd Jul 2020

Key Skills:

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