Financial Business Officer
Financial Business Risk Officer (SOX)
The rolewill provide leadership to identify, measure, monitor and shape the risksrelated to the internal control environment affecting both controls overfinancial reporting and operational controls within the organization throughproactive identification of risks and opportunities. This role will ensure sound governance,oversight and execution of the financial and operational risks and controls aspart of our Sarbanes Oxley (SOX) program, including key operational, regulatoryand compliance related controls within their Department. The role will be responsible for managing allSOX and operational controls related design, implementation, documentation andself-testing to ensure we meet the requirements for the Companys SOX programas well as detect and prevent noncompliance with policies and procedures inadvance of internal and external audits. This highly visible position will work closely with the related businessmanagement and SOX teams to ensure transparency and understanding of financialreporting and operational issues, opportunities, and the environment both fornow and as we experience change from internal factors, such as growth and newbusiness lines, and external factors, such as new regulations and industryexpectations.
This is a position that reports to the business. This person will work closely and liaisebetween key stakeholders both within management and across the organizationwith Risk & Controls (SOX), Compliance, Internal Audit, External Audit,Enterprise Risk Management, Legal, and the other Risk Managers. The responsibilities include:
- Assess,measure, and monitor the governance and risk profile, including determinationof real vs perceived risk and inherent vs control risk. Maintain a complete and current inventory ofall the material processes and functions, with the associated key risks andtheir thresholds. Participate andprovide guidance for new initiatives and product expansions, includingdetermination of mitigating controls.
- Collaboratewith management to develop key business control strategies and controls tomitigate related risks. Exercisejudgment and influence, and if needed, assist management on the development,implementation and monitoring of strategies, policies, processes and controlsto reduce risk and ensure legal and regulatory compliance. Keep control documentation updated to reflectcurrent operating environment and perform self-testing to confirm controleffectiveness.
- Manage,communicate and provide periodic reporting and metrics to management and SOXteam on the mission, strategies, and key issues of the risk governanceframework. Proactively manage andpromote effective communication with internal groups (management and legal),including second (SOX, Compliance and ERM) and third lines of defense (InternalAudit), and external auditors. Thisincludes providing control documentation, testing support, and answeringrelated questions timely.
- Highlightcontrol breakdowns, inadequate processes, and unexpected events and implementcorrective actions quickly to address process and control deficiencies. Facilitate the timely remediation of controldeficiencies and process improvements by working closely with the business toverify design, timing, and expectations are aligned and met.
- Stay abreastand knowledgeable of the related regulatory, industry and compliancerequirements in which the department must meet in order to satisfy ourregulators and anticipate industry trends or changes. Analyze complexregulatory and industry requirements and the right size application of thoserequirements. Ensure all pertinent regulatory and rule changes are incorporatedtimely.
- Performannual risk assessment for identifying significant accounts and risks forreporting; done independently and then validated with 2nd line (SOX)
- Coordinate,update and maintain all SOX related artifacts including walk-throughs,narratives and process/control specific flow charts
- Ensurequarterly that all items are current and reflective of actual practices
- Providechanges to controls if underlying processes have changed or new items / risksadded top scope of the business 2nd line would have to concur with thecontrols design and risk mitigation
- Create/ manage quarterly program of self-testing / certification to support thebusiness units quarterly certification under Section 302 of SOX
- Establish/ manage ongoing program of procedure documentation and training within thedepartment related to SOX and internal control processes / activities
- Manageprogram specific to manual controls including spreadsheets and data received /sent out by the department to ensure integrity of data used and integrity,completeness and accuracy of data provided to downstream stakeholders for ICOFRpurposes (MRC checklists, IPE controls, etc.)
- Monitorand manage all Entity Level Controls within the department
- Auditcoordination manage and facilitate all external and internal audit relatedmatters including quality and delivery of audit schedules, follow up questionsand resolution, etc.
- Facilitateand manage all SOC 1 reports applicable to the business
- Provideoverall governance, dashboard reporting, tracking against deliverables, andissue escalation timely
- Exercisescreatively, critical thinking, analytical thinking, and collaboration to solvecontrol problems
- In-depthknowledge and application of principles, theories, and concepts, in area of specialtyto determine best course
- Makesrisk and control recommendations to the business line and requires SOX teamapproval
- Advisesothers about concepts, principles, issues, and alternatives to explore anddetermine course of action
- Usesinfluence, negotiation, and persuasion to achieve objectives
- Independentlyworks with the business to ensure effective internal controls over financialreporting, including updated documentation, supporting testing requests, andtracking and monitoring remediation efforts
- UnderstandSarbanes-Oxley requirements
- Bachelor'sDegree in management, finance, economics, related field or equivalentexperience
- Experiencein SOX controls for financial reporting is required
- Strongleadership, critical thinking and collaboration skills
- Excellentpresentation and interpersonal skills
- Workingknowledge of Microsoft products required
- Bachelor's Degree inmanagement, finance, economics, related field or equivalent experience and MBApreferred
- 8+ years working in the financialservices industry with managerial level experience
- In-depth business orfunctional expertise as well as knowledge of applicable policies and proceduresrequired
- Experience in risk,business controls or compliance management preferred
- Ability to influence peers,colleagues and managers across business and divisional lines to take action oncomplex, technical or sensitive topics with companywide impact
- Self-starter anddisciplined manager who proactively will reach out as needed
- Ability to work tighttimelines and manage multiple competing priorities while delivering soundresults
- Experienceat Big 4 Accounting firm preferred
- CPA or CIApreferred
United States-California-Santa Clara Work Locations: Job:
Finance %26 Accounting Organization:
SVB Financial Group. Schedule:
Full-time Job Posting:
Jul 2, 2019, 12:50:51 PM Travel:
Yes, 5 % of the Time