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State Street, India Controller - Managing Director

State Street Corporation
Bangalore Bangalore Karnataka, Karnataka, India
Competitive Salary
Closing date
May 24, 2024

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Job Role
Contract Type
Full Time
Why this role is important to us

The Managing Director role will be part of the APAC Leadership team and reports to APAC controller. The importance of this role is evident from the fact the incumbent will have to leverage their strong accounting, finance and tax acumen for driving seamless delivery of a wide range of processes, build and sustain functional capabilities, connect the dots across functions and the various ongoing change initiatives and importantly strengthen the controls on a business-as-usual basis. Corporate finance is continuously driving transformation across processes and an important aspect of the role is to lead, drive and manage the change while challenging the status quo in partnership with the stakeholders.

This role has become even more critical with State Street's acquisition of two Joint Ventures recently, thereby increasing our office footprint from 3 locations to 7 and more than doubling the employee headcount at a consolidated level in India.

Our people being the core of our business, driving up the engagement levels would also be an essential imperative. The roles require leveraging the strong partnership that currently exists across Finance to communicate, escalate, and update on a timely basis. This role will be a key partner to Finance organization as we develop the target state operating model and best in class processes for the future of accounting.

What you will be responsible for
  • This role reports into APAC Controller with dotted line into GFC Head and supports India CEO on transformational changes.
  • Lead and manage all aspects of legal entity statutory reporting, Company Secretarial and regulatory compliances, BU Controllership and Taxation matters for a combined group strength of circa 22,000 employees spread across 4 entities. Spearhead legal entities restructure / consolidation initiatives to optimize operational / Tax efficiency, support India Business unit strategy and plans, M&A activity and entity expansions.
  • Manage a team of 14 spread across controllership, taxation and company secretarial functions.
  • Experience in dealing with complex tax matters including Bilateral Advance Pricing Arrangement (BAPA), Transfer Pricing, Tax Litigations and Permanent Establishment issues with subject matter expertise in Corporate tax, Withholding tax, and Goods & Services Tax (GST).
  • Ensure all Legal entity results are accurately, timely and appropriately recorded under US GAAP, IFRS and local GAAP. Ensure financial controls are operating effectively and issues reported/ resolved and appropriately escalated..
  • Managing internal and external statutory audits, tax audits, global audits, Sox audits and ensuring audit findings/issues are appropriately remediated and closed on the internal tools
  • Experience in handling large export oriented units in excess of 10 units spread across India, particularly Special Economic Zones and Software Technology Parks of India. This will also involve handling complex custom related issues together with planning for Real Estate decisions to optimize tax benefits.
  • Experience in managing compliances of Reserve Bank of India, Foreign Exchange Management Act and Foreign Direct Investments guidelines.
  • Managing Senior Stakeholders including Board members of multiple legal entities in India on Planning / coordinating Board Meetings including adherence to Legal Entity Governance standards requirements, Recovery & Resolution Planning and Company law compliances.
  • Oversight and execution of transformation and key system changes in India. Experience in leading and executing large projects impacting GL, Sub-ledgers and other upstream and downstream applications for changing business environment and legal entity re-structures. Ability to partner with global teams to drive and implement changes to country specific requirements.
  • Cash flow and fund management to optimize NII yield including securing necessary approvals from governance perspective from Credit risk, Treasury and other internal groups.

What we value
  • Understanding of State Street Line of Business, Service offerings, Regulatory and Statutory compliances.
  • Ability to navigate through complex organizational structures
  • Partnering on large scale global enterprise programs and system implementation and/or experience in driving complex, firm wide projects across multiple stakeholders
  • Proven leadership skills in managing high skilled teams, developing and nurturing the team and motivating teams through challenging environments

Education & Preferred Qualifications
  • Bachelor/Master's degree in finance / Accounting. CA/CPA preferred.
  • 20+ years of progressive experience in accounting and finance, experience in implementing finance systems, Merger integration, Tax and regulatory compliances.
  • Service industry experience (financial services industry is a big plus)
  • Experience in managing cross functional senior stakeholders
  • Attention to detail; quality control sensitive
  • Strong analytical, organizational and problem solving skills

Excellent communication skills and executive presence

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