Expense Accounting - Assistant Manager

Functional Job Title: Payroll Accounting BAU Resource – Asst Manager Reports to: Payroll Accounting SME - Officer Department/ Division: Corporate Finance CoE, Bangalore Background: Driven by the Beacon initiatives, functionalization of the corporate functions and re-alignment of the Finance Operating Model, State Street established the Global Accounting Operations (GAO) organization in 2017. GAO is a process-focused organization responsible for the majority of the record-to-report (R2R) activities performed at State Street. Organizationally, it combines all groups performing these activities Globally and also includes Accounting Centers residing in State Street Shared Service locations in Poland, India and China. GAO organization is established on principles of Global Process Ownership and process excellence , owning all aspects of business-as-usual activities within R2R areas and driving process improvements and automation Globally. To achieve this objective, GAO has been structured into several distinct global units each is responsible for all aspects of selected major groups of R2R activities, such as Close & Consolidations, Revenue/Expense Accounting, Payroll Accounting, Intercompany Transactions, Cash/Deposit governance and others. Each global unit will be responsible for all aspects of business-as-usual activities within their group of processes, as well as process re-engineering and automation activities – this includes leading process assessments; driving process design and process re-engineering work; co-owning technology initiatives bringing automation to GAO organization, working in close collaboration with the teams in Finance Technology, Finance Re-Engineering, Data Management, and other partnership organizations. Basic Purpose of Job: The Payroll Accounting resource will be responsible for all aspects of US GAAP, payroll accrual accounting for Global Region This individual will provide subject matter expertise in the area of accounting related to Payroll, Payroll Taxes and Human Resource benefit accounting which include the below. Responsibilities & Tasks Include: Business As Usual (BAU) Activities: Collaborate closely with the onshore team to understand expectations and deliverable timelines. assist with ad-hoc projects and new transactions to support the GAO Accounting controller group. Provide support to key stakeholders of the team to present analytical results and findings. 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 a particular accounting transaction. 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 specific deliverable or recurring meetings between the team and the onshore team.  Deliverables revolve around. Daily : Monitor daily payroll tax reports and ensure accuracy and properly reconciled against payroll reports and fed/state reconciliations. Prepare/Oversight additional and corrective payroll journal entries and post/review in system. Provide real time data for our global mobility group so they can calculate and prepare benefit amounts for impacted individuals. Validate all payroll-related payments. Query Management Reconcile DDA accounts on a daily basis for employee payroll check, ACH direct deposit kickers, non-cashed payroll tax agency checks. Provide real-time support & research for our Tier 3 employee support ticket escalation. Employee benefit vendor research for missing benefit deductions, over deductions, corrections to vendor reports, etc. Weekly : Prepare off-book manual journal entries. Upload payroll controller files to Oracle for distribution and money movement. Review & authorize Canadian manual payroll checks. Update US and Canadian tax workbooks