ICFR Controls Analyst (Finance) - 13769

System One - Vienna, VA

Full-time - Mid Level

Hybrid - Vienna, VA

Administrative and Support Services

About the position

The ICFR Controls Analyst will play a crucial role in providing internal control guidance and evaluating the effectiveness of controls within the Internal Controls over Financial Reporting (ICFR) program. This position requires close collaboration with the Lead Financial Statement Risk Analysts and key business partners to identify high-risk processes, assess financial statement risks, and implement key controls aimed at mitigating the risk of financial misstatement. The analyst will be responsible for identifying, designing, and documenting internal controls, as well as assessing financial statement risks associated with third parties and supporting audit responses related to these controls. In this role, the analyst will support all aspects of the ICFR Vendor Risk program, which includes assessing third parties for their impact on financial statements and reviewing relevant SOC 1 (SSAE18) reports to evaluate the control environments of these third parties. The analyst will also assess and document Information Technology General Controls (ITGCs) related to ICFR, addressing any identified control gaps in design effectiveness. Additionally, the analyst will work closely with both external and internal auditors to establish audit scopes, evidence, priorities, and testing procedures that will form the basis for subsequent audit execution strategies. The position requires evaluating the performance of existing controls and devising remediation strategies that align with appropriate risk mitigation methodologies. The analyst will also engage in multi-disciplinary control initiatives to assess and transform control gaps into mature control environments. This includes gathering, reviewing, and updating existing policies, process narratives, and process models to gain insights into current business processes. The analyst will be expected to research industry best practices related to ICFR vendor risk and solve complex control-related business problems by defining issues, interviewing stakeholders, and presenting findings clearly and concisely. Effective time management and workload organization are essential to ensure timely project outcomes, along with the ability to perform other duties as assigned.

Responsibilities

• Support all aspects of the Internal Controls over Financial Reporting (ICFR) Vendor Risk program
• Assess third parties for ICFR/financial statement impact
• Review relevant SOC 1 (SSAE18) reports to assess control environments for third-parties, work with business partners to identify, assess and document user controls
• Assess and document ICFR related Information Technology General Controls (ITGCs) to address control gaps in design effectiveness
• Support the activities related to partnership with external and internal auditors to establish audit scope, evidence, priorities, and testing procedures that will serve as the foundation for the subsequent audit execution strategy
• Evaluate performance of existing controls and devise remediation strategies that align control performance with the appropriate risk mitigation methodology
• Support multi-disciplinary control initiatives to assess controls and ultimately transform any control gaps into mature control environments
• Gather, review and update existing policies, process narratives, and process models / flowcharts to develop insight into the current state of business processes
• Research industry best practices associated with ICFR vendor risk and ICFR in general
• Solve complex control-related business problems by defining the problem, interviewing stakeholders, identifying, and evaluating alternatives, and presenting findings
• Manage time and workload in relation to projects to ensure an efficient and timely outcome
• Perform other duties as assigned

Requirements

• Significant experience with Internal Controls over Financial Reporting (ICFR)
• Significant experience or knowledge of SOX including GAAP principles, financial statement preparation, and internal accounting controls
• Strong experience reviewing or preparing SOC 1/SSAE18 reports
• Strong experience with Third Party Risk Management activities
• Strong experience re-designing processes and identifying control gaps to be consistent with a mature ICFR program
• Strong experience with extracting and documenting business process controls and information technology application and general controls (e.g., access controls list, change controls, segregation of duties, etc.)
• Strong experience assessing the design and operating effectiveness of key controls
• Experience with interacting and communicating with multiple stakeholders & management
• Experience in managing multiple priorities independently and/or in a team environment to achieve goals
• Effective skill interpreting and synthesizing large amounts of information
• Strong experience that demonstrates the ability to research, compile, and document data, business processes, and workflow, including strong knowledge of Microsoft PowerPoint, Excel and Visio
• Strong experience presenting findings, conclusions, alternatives, and information clearly and concisely
• Advanced skill interacting with staff, management, vendors, and members diplomatically and tactfully
• Bachelor's degree in Accounting, or related field, or the equivalent combination of experience, education and training

Nice-to-haves

• Advanced knowledge of Client's functions, philosophy, operations and organizational objectives
• Certified Public Accountant (CPA) designation
• Certified Internal Auditor (CIA) designation

Benefits

• Health and welfare benefits coverage options including medical, dental, vision, spending accounts, life insurance, voluntary plans
• Participation in a 401(k) plan