BASIC FUNCTION: This position will: 1) Work independently and/or participate as a member of an audit team performing audit procedures to test the operating effectiveness of Internal Controls over Financial Reporting (ICFR) and evaluate of the Association’s Sarbanes-Oxley Act (SOX) compliance program in compliance with Farm Credit Administration (FCA) regulations, Bank General Financing Agreement (GFA) covenants, and applicable guidance from the Public Company Accounting Oversight Board (PCAOB), Sections 302 and 404 of SOX, and Farm Credit System workgroup; 2) Provide consulting services on a limited basis to the Association’s leadership and staff; 3) Maintain all organizational and professional ethical standards.
Senior SOX Auditors will also: 1) Support the SOX Audit Manager in planning for the SOX audit program and preparing written report to communicate audit results related to ICFR work; 2) Mentor and serve as a role model and resource for SOX auditors through coaching and training.
TRAVEL REQUIREMENT: 5-15%
Essential functions of the position include, but are not limited to:
- Perform assigned ICFR audit procedures to provide reasonable assurance regarding the Association’s SOX program compliance with FCA, SOX, and GFA requirements.
- Maintain professional objectivity; obtain required approval for exceptions to audit standards from appropriate parties. Execute assigned ICFR audit procedures in a collaborative manner and maintain effective communication with audit customer, leadership, business partners, and the CAE.
- Perform assigned ICFR audit procedures in a manner consistent with the CAE priorities, audit team’s charter, business objectives, and audit customer needs.
- Independently perform assigned ICFR audit procedures, including:
- Gain a thorough understanding of SOX process flows, narratives, risk and control matrices of business processes and information technology platforms relevant to financial reporting.
- Conduct or participate in walkthroughs and other meetings with process and control owners to ensure SOX testing plans are properly created to address financial reporting risks identified by Leadership.
- Evaluate the operational effectiveness of entity-level controls, business process key controls, and ITGCs in accordance with the Association’s ICFR testing guidance.
- Perform data collection, verification and interpretation to assess the accuracy and completeness of system reports and end user computing spreadsheets, as instructed by the external financial auditor.
- Conduct follow-up ICFR testing procedures on identified deficiencies to confirm that appropriate remediation actions have been completed by Leadership.
- Document ICFR audit procedures performed and the results of those procedures in accordance with regulatory requirements and professional auditing standards.
- Monitor budgeted time for assigned SOX audit activity to maintain proper usage of resources.
- Assist with the assessment of the Association’s SOX program for compliance with FCA, PCAOB, SOX, and GFA requirements.
- Assist with consulting services through participation on Association projects and teams in an advisory / counseling capacity or conducting reviews of a business unit, function, process, system, etc. at the request of the leader who seeks to receive advice.
- Assist the Internal Audit Manager with operational, financial, compliance, and investigative audits, consultative engagements, or special projects, if needed.
- Pursue professional development opportunities to maintain a current status of developments related to matters of interest to SOX compliance such as evolving SOX testing techniques and/or practices and changes to the Association’s SOX program from pronouncements by the FASB, FCA, PCAOB, COSO, and other SOX compliance regulatory bodies. Share information gained with teammates.
- Perform other activities as assigned.
Additional responsibilities for Senior SOX Auditors include:
- Participate in the development of testing plans over key controls, reports, and spreadsheets.
- Using input of involved SOX auditors, assist in developing written reports to accurately summarize ICFR audit procedures results and identified ICFR deficiencies to communicate to the CAE, when needed.
- Assist in identifying SOX audit training needs, develop training plans, and provide mentoring, training and guidance for SOX Auditors.
Education and Experience
Bachelor's degree in accounting, finance or a related field. Three or more years of auditing, accounting / finance, or IT consulting / operations experience within a US company subject to SOX requirements or equivalent with progressively higher responsibilities. Previous experience with financial auditing or SOX testing is a plus. CPA, CIA, CISA, or other certification related to the technical area of responsibility helpful. Equivalent combinations of education and experience are acceptable.