Silicon Valley Bank Hiring for Sr. Financial Analyst India at Bengaluru, Karnataka, India Full Time

Job Description

BE PART OF A BANK LIKE NO OTHER.
When you work with the world’s most innovative companies, you know you’re making a difference.
Our clients are the game changers, leaders and investors who fuel the global innovation economy. They’re the businesses behind the next medical breakthroughs. And the visionaries whose new technologies could transform the way people live and work.
They come to SVB for our expertise, deep network and nearly forty years of experience in the industries we serve, and to partner with diverse teams of passionate, enterprising SVBers, dedicated to an inclusive approach to helping them grow and succeed at every stage of their business.
Join us at SVB and be part of bringing our clients’ world-changing ideas to life. At SVB, we have the opportunity to grow and collectively make an impact by supporting the innovative clients and communities SVB serves. We pride ourselves in having both a diverse client roster and an equally diverse and inclusive organization. And we work diligently to encourage all with different ways of thinking, different ways of working, and especially those traditionally underrepresented in technology and financial services, to apply.

Sr. Analyst – Expense Accounting
You will be primarily responsible for performing finance and accounting activities related to expense accounting (expense accruals, prepaid accounting, fixed assets, leases and compensation and benefits accounting ), 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 Accounts payable team to ensure all expenses are correctly accounted for. He/she would be required to have excellent accounting knowledge, proficient in system and should have basic knowledge of MS Office.
Essential Functions
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 payable team for validation of accrual and prepaid expenses, calculation of entry for accruals and prepaid
• Posting journals pertaining to expense accruals, prepaid entry, fixed assets and leases, compensation and benefits and amortizations.
• 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
Participates in meetings, coaching and other duties as assigned by management
Decisions

• Routinely makes impactful decisions and demonstrates high levels of discretion and independent judgment with respect to matters of significance.
• 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 expense accounting.
• Strong knowledge of latest local GAAP requirements (US, German, India), IFRS, SOX, internal controls

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

Education and certifications:

• Bachelor’s degree in finance or accounting/ CA / 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 expense accruals, accounting for prepaid expenses, and compensation and benefits accounting
• Understanding of financial accounting and reporting process
• Working knowledge of PeopleSoft ERP system (PSGL)

Preferred Education and Experience
Experience:

• Experience of working in a SSC/ BPO
• Prior experience with reconciliation tools like CAT, Accurate, Blackline
• Prior experience with procurement tool like Coupa
• Experience of working within Banking industry

© 2021 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq:
SIVB).
Equal Employment Opportunity
Silicon Valley Bank is an equal opportunity employer and is dedicated to expanding its commitments and investments to create a more diverse, equitable and inclusive company culture and innovation ecosystem. We are strongly committed to the values and policy of equal employment opportunity across our employment practices.
Silicon Valley Bank is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.