Financial Controls Unit Lead

New York Life • New York, NY

4d • $100,000 - $143,000 • Hybrid

About The Position

Join Corporate Finance where expertise meets strategic impact. Partner with diverse business units, providing financial insights and guiding sound decision-making. You'll work collaboratively to ensure data accuracy, implement robust controls, and safeguard policy owner interests. Become part of a team dedicated to financial stewardship, enabling business performance, and paving the way for a secure future for generations to come.
Role Overview:
Ensure organizational standards, governance and practices for the company’s internal control over financial reporting complies with the NAIC Model Audit Rule (MAR) and Sarbanes-Oxley Act (SOX).

Requirements

• Bachelor's Degree with emphasis or concentration in Accounting, Finance
• Minimum of 4 years of experience in roles with major responsibilities for oversight of and/or testing internal control over financial reporting is required
• Basic knowledge of Service Organization Control reports (e.g., SOC1s) is required
• Big four experience is required
• Strong oral and written communication skills. Must be able to effectively communicate with various levels of management, internal customers and auditors
• Team oriented. Ability to work in a fast-paced environment and shift priorities as necessary
• Proficient in Microsoft Excel, Word, Access, Visio, Power Point and SharePoint is required

Nice To Haves

• Strong knowledge of Insurance and Actuarial businesses is preferred
• CPA or CIA is preferred
• Demonstrated leadership and ability to manage and supervise staff/consultants in a highly productive environment

Responsibilities

• Support the on-going development and maintenance of the NYL MAR/SOX Program governance, policies, standards and procedures.
• Support the Financial Controls Unit (FCU) Manager to execute the day-to-day activities of the MAR/SOX program.
• Responsible for the execution of the testing program for all business process, IT general controls, application controls, end user computing, and third-party service provider controls that impact financial reporting.
• Support the FCU Manager with materiality and scoping of all business process and IT general controls that impact financial reporting.
• Work with process and control owners to develop remediation strategies to address deficiencies in internal control over financial reporting.
• Responsible for the evaluation of system implementation and conversions impact on internal control over financial reporting to determine key controls have been designed and subjected to implementation (user acceptance) testing prior to go-live.
• Responsible for the evaluation for testing source data (e.g., extract files, control reports, etc.) used in the execution of controls to ensure completeness and accuracy.
• Collaborate with business units to assess consistency of the application of MAR/SOX Program requirements.
• Assist with developing and contributing to the tools that support the MAR/SOX Program (SharePoint, Auditboard, etc.).
• Assist with the development and compilation of executive level presentations on the state of internal control over financial reporting for the MAR/SOX Program.
• Support the development, maintenance and delivery of MAR/SOX Program training curriculum.
• Support coordination with internal/external risk and control functions (e.g., Risk Management, Corporate Audit, Corporate Compliance, external auditor) to improve integration of governance, risk and compliance functions.
• Act as liaison with Corporate Audit, external auditor and state regulators for internal control over financial reporting issues.
• Proactively collaborate with the first, second and third lines of defense to drive awareness, accountability and additional oversight in the implementation and ongoing effectiveness of internal control over financial reporting.
• Proactively participate in various risks and controls committees and/or working groups of NYL as assigned.

Benefits

• We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs.
• Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work.
• Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level