State Street has established a Global Billing Function under Controllership, which is responsible for client billing set up and invoicing across all business lines and geographies globally at State Street. Organizationally, it combines all groups performing these activities globally, and also includes centers residing in State Street Shared Service locations in Poland, India and China. Billing Organization owns aspects of business-as-usual activities within billing areas and also drives process improvements and automation. Global Billing Function is in the process of migrating to a new technology platform which will be used for all business units and regions.
Basic Purpose of Job:
The Billing Transformation VP will be responsible for migrating clients from the legacy system to the new platform. They will perform the following functions:
Oversee the Conversion exception analysis of Reviewing the data conversion exceptions, research exceptions, update conversion rules, correct data exceptions
Reconcile, analyze and document root cause of data and calculation differences between the legacy and new platform
Work across the project team with business and technology teams and Business stakeholders to analyze and explain any issues
Maintain and Create procedures and checklists as required
The individual will be directly responsible for the resolution of exceptions and conversion of customers to the new billing platform.
In addition to Business As Usual (BAU) responsibilities as described above, this role will also be involved in process re-engineering, standardization, and automation efforts.
Drive the end to end Conversion plan and implementation
Collaborate closely with the In-Market team 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 GBO controller group
Lead the day to day activities of BTP Conversion Set-up Global level engagement to convert clients from legacy systems to Oracle platform and evolve process for Billing Transformation 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 serve as a subject matter expert on particular Set-up transactions. Coordinate with onshore team 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 deliverable within the committed timeframe including assistance with development of deliverable plans, attending deliverable specific or recurring meetings between the team and the onshore team.
Bachelor’s/Master’s Degree in Finance, Chartered Accountant (CA) or preferred Certified Public Accountant (CPA)/MBA Finance) 15+ years of experience in Finance Transformation and Operations Management with major financial institutions in a global setting
Complex operational setting involving analysis of financial data
Knowledge of various services and industry trends of billing methods for those services like Custody services, Sub custodian, trust services and out pocket expense billing, asset management etc.
Should have hands on knowledge on E2E Client Onboarding process
Required knowledge and experience to bring in value add to billing function across geographies and business areas.
Direct support to business or product line management / executives
Well Versed with ERP ORMB – good knowledge, experience
Well versed with O2C process, system automation etc
Variance analysis and reporting of insights
Experience assisting with re-engineering processes and driving similar centralization of the end-to-end activities for the major financial institutions
Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices)
Knowledge of billing systems
Conceptual understanding of company-wide financial architecture (GL, sub-GL technology, specialized tools) applicable to the above process groups of processes
First level management expertise required
Independent decision-making capabilities, demonstrated thought leadership
Pride of ownership with the ability to deliver high quality results timely
Self-motivated, self-assured, and self-managed
Strong analytical and ability to analyze and summarize complex financial transactions
Strong attention to details
Problem solving skill
Highly organized with ability to multi-task and work under high pressure deadlines