Basic Purpose of Job:
The Expense Insight Center Assistant Vice president provides subject matter knowledge in the Financial Planning & Analysis of employee compensation and benefits related costs. Develops a team that has thorough understanding of State Street’s business practices to effectively perform independent, complex reporting or analytics to support the ad-hoc needs of the businesses.
The AVP will be performing and leading multitude of activities associated with reporting and analytics of Compensation & Benefit costs across Business Units.
The candidate should have a background in financial analysis, typically acquired through related experience in the financial services industry. The position requires excellent analytical, research and financial modeling ability coupled with strong communication, and time management skills. Ability to lead a team and provide direction on complex issues/topics is very essential.
Job Responsibilities:
Accountability for the following areas:
Preparation, review and delivery of monthly management information reports that provide senior management an understanding of the Headcount, Salaries and Benefits costs to facilitate decision making, including monthly variance analysis, key driver / metric analysis, and measurement of performance trends.
Headcount, salaries, employee benefits, contractor costs budgeting process. This will involve collaborating with counterparts in the following teams to :
Central FP&A team
Business Unit (BU) /Regional CFO teams
Global Employee benefits team; and
GHR reporting and analytics team
Ad-hoc support to BU CFO teams on employee compensation and benefit costs.
Leading the team by example in the following areas:
Working closely with accounting team to identify and implement process improvements and monitor spend.
Required to participate in or conduct a wide range of accounting and financial analyses on critical and complex issues which may include variance analysis, forecasts, budgeting, cost control and accounting transactions.
Perform annual operational planning process (budget) along with variance analysis for management review.
Provide direction to Subject Matter Experts in the team to provide solutions that satisfy BU CFO requirements.
Devise and implement strategies for building a culture of continuous improvement in the team.
Work with technical experts to build, test and implement low code IT driven solutions to address pain areas of the BU CFOs.
Critically examine and assess existing financial analysis practices and suggest improvements wherever necessary to the EIC lead and/or BU CFOs.
Education and Experience:
Financial and business analysis, preferably with assessing people related costing in a global setting
Strong communication and presentation skills, ability to interact with executive management.
Exhibits an exceptional standard of quality which includes attention to detail, organization, thoughtful analysis and problem solving and accountability for excellent results.
Should have strong hands-on expertise with Excel & Power BI
Direct support to business or product line management / executives
Experience with preparation of budgets, variance analysis and insights
Skills/ Knowledge:
Must have prior experience of managing FP&A teams.
Experience of handling annual performance discussions of team members is a must.
Must possess strong communication skills with ability to drive result-oriented discussions in conference calls and/or present financial results to financial and non-financial audiences at various levels of seniority
Proficiency in Microsoft Office suite (Excel, Access, Power BI), advanced levels of excel (pivot tables, formulas, excel workbook maintenance best practices)
Strong Analytical skill set
Self-motivated, self-assured, self-managed & a team player
Proactive and ability to build relationship with BU and Cross Functional Teams.
Ability to analyze and summarize complex financial matters and their impact to the bank
Ability to multi-task and work under high pressure deadlines
Following items will be considered as an advantage
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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