Risk & Internal Controls Analyst
Business Unit: Controlling and Finance
Requisition Number: 235137
Primary Location: United States-Florida-Orlando
Assignment Category: Full-time regular
Experience Level: Mid level
Education Required Level: Bachelor's Degree
Travel Required: 10%
How does the executive management obtain their assurance over whether the company's processes are being executed properly and whether the books and records are accurate? Through a well-managed internal control system, of course! As an internal controls specialist, you will be responsible for helping create that assurance! Your responsibility will be to manage the internal control system of one or more select business units / support functions within Siemens end-to-end. You will coordinate audits over internal controls as well as act as a partner/consultant to the business by helping them find sustainable solutions to control weaknesses. You will analyze processes, identified risks/gaps, test for effectiveness and design of controls, facilitate solutions for deficiencies, manage multiple stakeholders, drive remediation, apply your creativity to creating more efficient ways of approaching internal controls management – just to name a few.
- Represents the Risk and Internal Control department as the main point of contact for internal customers and external auditors in all questions related to internal controls.
- Ensures that all business and support functions have covered the most significant risk attributes by well defined and robust internal controls.
- Consults internal customers on ways to improve the quality and efficiency of their internal controls. (e.g. through automation and improved methods of documentation), while maintaining the same or even increasing the overall level of assurance.
- Maintains and updates testing procedures for independent assessors so that internal controls are properly understood by the assessors and that testing is conducted in an efficient and qualitative manner.
- Manages the entire assessment process end-to-end, including the scoping of controls to be tested, as well as the selection, training, guidance and monitoring of Independent Assessors.
- Facilitates and drives the remediation of internal control weaknesses with multiple stakeholders (support function heads, business units and other process owners) with a strong focus on a timely but also sustainable remediation thereof.
- Ensures clear ownership in all control processes through strong communication and alignment skills.
- Prepares and documents well defined deficiency descriptions with a proper materiality calculation and root causes in order to allow for data and trend analysis within the region.
- Develops and executes trainings for the department and also other stakeholders on a wide range of topics related to the risk and internal controls process of Siemens.
- Creates and develops new ideas / continuous improvement actions to help make the existing internal controls process more efficient and executed in a higher quality.
- Provides regular status updates on the status of all major milestones, including support of the department management for presentations to the executive management of Siemens in the US.
- Supports the quarterly Risk and Internal Control Meetings, quarterly internal certification for internal control over financial reporting and the annual in-control certification.
- Partners with designated business unit to build communication and increase transparency
- Supports best practice sharing, benchmarking with other regions and harmonization/standardization of internal processes.
Required Knowledge/Skills, Education, and Experience
- Bachelor's degree
- 3+ years experience in an audit role
- Strong intellectual and analytical skills, e.g. able to sort through complex data and reach balanced and well supported judgments
- Excellent written and oral communication skills, including proven ability to prepare and present information to all management levels.
- Demonstrated ability to manage multiple assignments, achieve deadlines and deliver quality results within a team environment
- Strong focus on efficiency and process improvement
- Creative, thinks “outside the box”
- Proven ability to build strong partnerships with teammates, key stakeholders, and business and functional experts and influence decision outcomes
- High level of professionalism and sense of urgency, awareness of when and when not to escalate
- Preference given to individuals with demonstrated knowledge/background in internal control principles, experience in risk and control self-assessment, including risk and control testing, and business process improvement
- Flexible and adapt well to changing environments
- Consultative approach
- Intermediate to advanced proficiency in Microsoft Office applications (Word, Excel, PowerPoint), e.g. ability to prepare professional slides for management, as well as use other tools to prepare waterfall charts, quickly analyze data through the use of formulas.
- Self-motivation and attention to detail
Preferred Knowledge/Skills, Education, and Experience
- Advanced degree or professional certification (e.g. CPA) preferred
- Advanced testing including automated testing development and execution techniques preferred
- Ability to program macros (or other tools) as well as ability to automate processes through tools a plus.