Treasury Accountant, AVP
Our Company
State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $25.42 trillion in assets under custody and administration and $2.18 trillion in assets under management at March 31, 2013, State Street operates globally in more than 100 geographic markets and employs 29,460 worldwide. For more information, visit State Street's website at www.statestreet.com.
Promoting a culture of excellence
With more than 29,460 employees across 29 countries, at State Street, our people are our greatest asset. We recognize that highly skilled, engaged and productive employees are essential to our success. Our company values reflect our commitment to employee engagement, Global Inclusion and corporate social responsibility -- to help you build a fulfilling career. Around the world, we aim to be an employer of choice by offering competitive compensation and benefits, personal and professional development opportunities, and a work environment that promotes a diverse array of people, ideas and skills.
We're a company that insists on, and rewards, performance excellence. We know our success hinges on attracting the best people to join us -- people like you.
We encourage you to explore the possibilities that a career at State Street can offer you.
State Street is committed to embracing diversity and inclusion in the workplace.
Treasury Accountant for UK and Luxemburg Treasury business.
This role has been created as part of a move to restructure the Global Markets finance team which will consolidate the treasury accounting processes out from the GM activities. In functionalising these processes we aim to provide stronger oversight and accounting framework for the treasury activities we cover. In addition it is the start of a more recent strategy to create a European 'center of excellence' for treasury accounting in London, hence the move to increase the scope from London to include Lux also.
Lux
The initial focus will be the accounting for SSB Luxemburg, including the portfolio and funding positions held in the Luxemburg entity, but also the customer loans and deposits reconciliations, intercompany loans / deposits.
There will also initially be responsibilities for
UK
In addition, the role will support the accounting of Treasury activities within the UK, covering primarily SSBT London branch including where the main London portfolio is held, but also for treasury related activity through other UK entities. This includes portfolio accounting, yield analysis, NIR review and funding costs, and internal liquidity reporting for the UK (although note not the FSA 047/048 returns).
New initiatives
Alongside the UK/Lux BAU responsibilities, there are a number of new initiatives that the role will be highly involved in, including;
- Set up of two new companies holding securities portfolios in London
- Build out of a collateral management function in the UK
Background of the SSGM EMEA Finance group:
The area is Global Markets (GM) which operates out of a number of different entities and branches in the UK and APAC, which are covered by a combination of regulators.
The current GM business in EMEA includes FX, Money market, Futures / ETD, Agency Sec Lending, Sales Trading, Portfolio Solutions desks all traded out of London.
The Treasury desk provides liquidity to all the UK business which holds a significant portfolio of securities.
The Global Markets finance team provides the following functions:
- SSGM Accounting covering a full range of legal entity accounting and financial control framework for UK domiciled companies.
- SSGM FPA providing management information and decision support to EMEA GM business
- Product control and valuations for EMEA and APAC GM trading business
- Treasury and liquidity financial control (securities portfolio, liquidity MI)
In the light of a number of new initiatives taking off, a key growth area of the team will be treasury, including setting up two new securities portfolios in stand-alone companies, enhancing liquidity reporting
The candidate we are looking for must be a strong treasury controller, with a well-rounded skillset capable of maintaining a presence and influence with senior management across UK and Europe, a broad range of product knowledge (with particular experience of treasury products a must), and also familiar with financial processes, balance sheet reporting and substantiation. They must possess the initiative and experience to be able to drive issues, operating with reasonable autonomy, through to resolution
Specific responsibilities of the role include;
- Treasury accounting of UK and Lux treasury activities
- Principally this will revolve around the two London and Lux entity portfolios, but also two smaller portfolios in UK entities held for liquid asset buffers
- Responsible for the accurate accounting and accounting controls of all Treasury products, including portfolio accounting for AFS/HTM securities and calculation of accretion, month end certification of balance sheet
- Finance lead for all treasury accounting initiatives in London and Lux
- Liquidity measures and triggers reporting for SSBT London branch and other UK entities
- Money market interest rate analysis
- Daily and monthly NIR review and analysis
- MTM reconciliation to Intrader and accounting for MTM for portfolio
- Accretion and paydown calculation and related accounting
- Support ILAA process from finance perspective, understanding liquidity risks and involvement in monitoring and reporting of liquid asset buffers for the FSA ILG
- Finance support to new collateral management function in UK
- Responsible for quarterly SOX self assessment of treasury accounting controls
- Also covers small portfolios in SSGMIL and SSBEL held for liquidity asset buffers
- Set up and accounting of multi-billion EUR and USD securities companies under SSBT London branch
- Implement a new IPV oversight process, in conjunction with product control, for monthly valuation / price testing of the portfolios (this is currently centralized out of Boston
- Qualified Accountant, with significant accounting PQE
- Treasury related qualifications would be useful (e.g. ACT)
- Significant experience in a finance services role and familiarity with its processes
- Knowledge of treasury products accounting a must
- Experience of liquidity reporting and ILAA process very useful
- Experience with accounting systems essential
- Capacity to articulate accounting principles issues in a simple expression, in a manner which will be highly understood by all levels
- Developed modeling and project management skills
- Organisational awareness strong commercial skills
- Outstanding relationship building skills
- Solid understanding of systems, set up related workflows
- Aptitude for process improvement within finance
- Good communication skills for interacting with front office and management
Leave a Reply
You must be logged in to post a comment.