Job Description
GENERAL INFORMATION
Job Title Job Code
Sr. Financial Analyst – India IFINP2
Position this Job Reports To Department
Manager, Accounting-India Accounting
SUPERVISORY RESPONSIBILITY
Role Directly Manages Others If Managing Others
☐ Yes ☒ No
☐ SVB employees ☐ Contractors ☒ N/A
Position(s) Directly Reporting to this Role Position(s) Indirectly Reporting to this Job
None
None
POSITION INFORMATION
Summary/Objective
Sr. Analyst – Revenue & Balance Sheet Accounting will be primarily responsible for performing finance and accounting activities related to revenue accounting and banking products, reconciliation of related accounts, reporting, and supporting internal and external audit as per company policies, procedures and guidelines for SVB. He/she would coordinate with multiple business teams to ensure all sources of revenue are correctly accounted for. He/she would be required to have excellent accounting knowledge, background in banking/ financial services industry, proficient in system and should have basic knowledge of MS Office.
Essential Functions 80 % of Time
Performs assigned activities required to support Accounting Operations. Works under limited supervision and has expanded skill set that is applied to the essential functions. Utilizes knowledge/resources to resolve moderate to complex issues, escalates complex non-routine problems. General operations functions may include, but are not limited to
General Ledger Processing
- Prepare and post GL monthly journal entries with detailed supporting documentation to provide a clear audit trail within agreed timelines
- Coordinate with accounts receivable and multiple business teams for validation of revenue accrual and deferral, and other journals from banking products. Prepare workings to calculate and post journal entries for them to ensure revenue recognition as per relevant accounting standards
- Loan and treasury accounting Interest accruals, loan and debt amortization, true-ups, accounting pertaining to equity, stock, bond purchases
- Warrant accounting Entering new warrants information, valuation and volatility set-up and analysis, pricing update and reporting, income reporting, IPO tracking, gain-loss analysis
- Run preliminary trial balance and trending reports and perform variance analysis to identify any anomalies in accordance with policy and guidelines at SVB
- Ensure accuracy and completeness of documents processed
- Interact with other teams for open items/ issues arising out of book closure activities
Reconciliations
- Reconcile balance sheet accounts for assigned accounts and generate reconciliation/ certification report
- Ensure reconciliations of sub ledgers in accordance with procedure and month end close calendar.
- Escalate variances to business for resolution and facilitate resolution of variances
- Process authorized adjustments and/or write-offs received and authorized through the journal entry template
Reporting
- Creation of Close packet Extract financial reports, management reports, trial balance and financial statements post-period close completion
- Review prior period’s financial reporting process and data for a month-on-month data and commentary comparison and identify changes that need to be made to the reporting process
- Update financial reporting with supplemental financial information received from business
- Validate quality of reports via data validation, trend analysis, variance analysis, etc., and escalate any identified information requiring business attention and / or resolution
- Generate and distribute reports for review by business stakeholders and management
- Respond to queries on reports and facilitate production of additional reporting information to business stakeholders and auditors
- Supports ad-hoc analysis and reporting
Quality Assurance & SLA Compliance
- Ensure high level of accuracy in General Ledger
- Add to the knowledge management databases, particularly regarding resolution of issues
- Adhere to period-end close SLAs
- Participate in process improvement initiatives to increase efficiency in general accounting
Internal control and accounting compliance
- Maintain documents relating to accounting compliance (SOX) and internal controls
- Ensure compliance with accounting policy
Operational Excellence
- Execute initiatives related to operational excellence
- Provide ideas for process improvements
Builds relationships with internal/external customers and collaborates to resolve disputes
Recommends potential process improvements, works with the process itself, and participates in the coordination of efforts. Special Projects as assigned by management 10%
Participates in meetings, coaching and other duties as assigned by management 10%
Decisions
☐ Routinely makes impactful decisions and demonstrates high levels of discretion and independent judgment with respect to matters of significance.
☒ Routinely makes recommendations that require approval to implement with the occasional decision without approval.
☐ Occasionally makes recommendations that require approval does not make impactful decisions that do not require approval. Routinely follows defined process.
Recommendations
Develops recommendations to improve processes and effectively communicates best practices within team.
Knowledge
- Demonstrate extensive knowledge related to best practices in Accounting related to revenue accounting.
- Strong knowledge of latest local GAAP requirements (US, German, India), IFRS, SOX, internal controls
- Strong knowledge of banking products, and associated processes
Skills
- Excellent written and spoken communications skills
- Strong analytical skills
- Efficient and well organized, able to work under tight deadlines
- Outstanding attention to detail, accuracy, and ability to multitask
- Comfortable working in standard shift timings of 1 pm to 10 pm IST
- Ability to be flexible with job duties, scope of work, and shift timings (especially during period-end close)
- Being innovative and suggesting process improvements and simplification ideas
- Proven capability to work independently without hand holding and exercising sound judgment & initiative
- Updated on and has strong understanding of latest IFRS and regional GAAP requirements
Competencies
- Accountability
- Attention to detail
- Internal /External Customer focus
- Fostering Teamwork
- Organization Skills
- Problem Solving
- Time management
Required Education And Experience
Education and certifications
- Bachelor’s degree in finance or accounting/ CA Inter/ CPA Inter
- Good knowledge of Microsoft Office (Word, Excel, PowerPoint and Outlook)
- Understanding of US GAAP
Experience
- 3-5 years of experience in Accounting function, with focus on revenue accruals, loan accounting and treasury accounting
- Understanding of financial accounting and reporting process
- Working knowledge of PeopleSoft ERP system (PSGL)
- Experience of working within Banking industry
Experience
Preferred Education and Experience
- Experience of working in a SSC/ BPO
- Prior experience with reconciliation tools like CAT, Accurate, Blackline
Certifications
none
Travel
No travel is expected for this position or Travel may be occasionally required
Physical Demands
The employee must have the ability to use a computer keyboard, mouse, calculator, copier/fax machine, scanner and telephone. While performing the duties of this job, the employee is regularly required to talk and hear. Employee must have close visual acuity to perform an activity such as reviewing and analyzing information transcribing and/or viewing a computer screen. Employee may be required to make quick decisions as to when to escalate or directly address a situation, as well as handle the stress of such situations. The work environment is indoors with a majority of time spent sitting at a desk.
Experience
Qualifications
- Experience of working in a SSC/ BPO
- Prior experience with reconciliation tools like CAT, Accurate, Blackline