Assistant Manager – Accounts Receivable Operations
India
State Street is seeking an experienced and detail-oriented Accounts Receivable professional to join our Finance Operations team as an Assistant Manager. The ideal candidate will have strong hands-on experience in Payment Application, Unapplied Cash Management, Accounts Receivable Reporting, Stakeholder Management, and Financial Controls.
The successful candidate will be responsible for ensuring timely and accurate application of customer payments, resolving aged unapplied cash items, partnering with Business Units and Relationship Managers to resolve client queries, supporting month-end reporting activities, and ensuring compliance with SOX controls and audit requirements.
This role offers an excellent opportunity to contribute to operational excellence, process improvements, and strong control governance within a global finance organization.
The Accounts Receivable team plays a critical role in maintaining the organization's cash flow, financial accuracy, and client satisfaction. Timely application of receipts, reduction of unapplied cash, accurate reporting, and adherence to internal controls directly contribute to sound financial management and risk mitigation.
In this role, you will help improve operational efficiency, strengthen control processes, support regulatory and audit requirements, and drive resolution of aged receivable balances.
As an Assistant Manager, you will:
- Review and accurately apply customer payments to open invoices on a timely basis.
- Investigate and resolve unapplied and unidentified cash items.
- Drive reduction of aged unapplied cash balances through proactive follow-up and issue resolution.
- Analyze payment remittances and coordinate with internal stakeholders when payment details are unclear.
- Monitor Accounts Receivable balances and aging trends.
- Follow up on overdue invoices and support collection activities where required.
- Ensure timely resolution of disputed invoices and payment exceptions.
- Maintain accurate customer account records and reconciliation support.
- Liaise with Business Units, Relationship Managers, and internal stakeholders to resolve AR and cash application-related queries.
- Provide timely responses and updates regarding customer account balances, payment status, and outstanding items.
- Build strong working relationships across global teams to drive issue resolution.
- Prepare and distribute monthly Accounts Receivable and Unapplied Cash reports.
- Monitor key performance indicators (KPIs) related to cash application, unapplied cash aging, and collections.
- Identify trends and recommend improvements to enhance operational efficiency.
- Support management reporting and ad hoc analysis requests.
- Ensure adherence to SOX controls and departmental operating procedures.
- Perform and document control reviews in line with established compliance requirements.
- Review work completed by junior team members to ensure accuracy and compliance with internal policies.
- Escalate control exceptions and operational risks appropriately.
- Actively support internal audits, SOX testing, and external audits, including EY audits.
- Prepare audit documentation and provide supporting evidence as required.
- Partner with auditors and business stakeholders to address audit inquiries and remediation actions.
- Ensure audit requests are completed accurately and within agreed timelines.
- Review and provide guidance to junior team members.
- Support training and knowledge-sharing initiatives across the team.
- Identify opportunities for process improvements, automation, and efficiency gains.
- Participate in projects and strategic initiatives impacting the AR function.
- Strong understanding of Accounts Receivable processes and accounting principles.
- Extensive experience in Payment Application and Unapplied Cash Management.
- Strong analytical and problem-solving skills.
- Ability to investigate and resolve complex cash reconciliation issues.
- Excellent stakeholder management and communication skills.
- Strong attention to detail and risk awareness.
- Knowledge of SOX controls, operational risk, and compliance requirements.
- Ability to manage multiple priorities in a fast-paced environment.
- Proficiency in Microsoft Excel and financial systems.
- Experience working with global stakeholders across multiple regions.
- Continuous improvement mindset with focus on operational efficiency and automation.
- Bachelor's Degree in Commerce (B.Com) is mandatory.
- Master's Degree in Commerce, Finance, Accounting, or related discipline is preferred.
- Professional qualifications such as CA Inter, CMA Inter, MBA Finance, or equivalent will be an added advantage.
- 8-10 years of relevant experience in Accounts Receivable, Cash Application, Finance Operations, or Shared Services environment.
- Proven experience in:
- Payment Application
- Unapplied Cash Management
- Accounts Receivable Reporting
- Stakeholder/Client Query Resolution
- SOX Controls Compliance
- EY/Internal Audit Support
- Team Review and Quality Assurance
Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.
We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.
As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.
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