JOB TITLE: Internal Controls Advisor
REPORTING TO: Head of Internal Controls
Salary: Dependent on experience
Reporting to the Head of Internal Controls, this position is responsible for leading key elements of internal control activities over financial reporting and accounting.
The Internal Controls Advisor will assist with designing and monitoring programs that Seadrill has in place to ensure that the directives, procedures and policies being practiced surrounding financial reporting comply with company directives, COSO, & the Sarbanes Oxley (SOX) Act. This role will advise management in designing, implementing and maintaining systems of financial reporting related internal controls and assessing their effectiveness. This role will also help to establish whether effective controls exist over key systems as they relate to master data used in financial reporting, user access, and appropriate segregation of duties.
This role will lead the quarterly SOX self-certification process on behalf of management and lead the expediting of remediation activities and appraise their effectiveness.
The Internal Controls Advisor will:
- Assist with directing, planning and monitoring programs that Seadrill has in place to ensure that the directives, procedures and policies being practiced surrounding financial reporting comply with company directives, COSO, & SOX.
- Liaise with finance teams in Liverpool and globally as necessary to advise these teams how to manage effective internal controls over financial reporting, and to address deficiencies with the teams and the Head of Internal Controls.
- Assist management to ensure that the design and implementation of internal controls over financial reporting (ICOFR) are compliant with the requirements of PCAOB standards and the Sarbanes Oxley (SOX) Act.
- Assist management and facilitate in performing annual risk assessment for accounting processes resulting in the development of the Company’s internal control framework, including developing a good balance of preventive and detective controls
- Ensure that relevant internal directives and procedures for all corporate and hemisphere processes, are compliant with internal control requirements.
- Continuously improve and refine the effectiveness of the company’s internal control framework.
- Work with management to develop and conduct a plan for internal control compliance training of new and existing finance personnel and control owners.
- Review and analyze the issues and deficiencies reported by management, Internal Audit or the External auditors; facilitate the remediation of control gaps, deficiencies, and escalate critical issues to the senior management and global process owners of the Company in form of monthly KPI reports; maintain a clear line of communication with the Head of Internal Controls on all issues and progress in respect of financial reporting risks.
- Perform quality reviews on performance and documentation of certain SOX controls implemented to give some assurance on reliability of the Risk and Control Template (RACT).
- Collaborate with all SOX stakeholders (i.e. External Auditors, Internal Audit, Finance, Supply Chain, HR, Payroll, IT and other teams across the Company) in connection with execution of SOX assessments.
- Take a lead and advisory role in Quarterly Management Certification process across all regions and processes of the Company; facilitate and help management (Local and Global Process Owners, FDs, SVPs) in the quarterly certification process; identify trends and emerging risks; report on changes and non-conformities in form of quarterly Certification Report to senior management (CEO and CFO).
- Establish whether effective controls exist over the master data used in financial reporting and over user access to data and transactions through appropriate segregation of duties.
- Provide subject matter expertise to other assignments or special projects as requested by management.
- Strong understanding of internal controls, compliance & risk assessments and process improvements.
- Experience and knowledge of auditing principles and internal control frameworks (ideally COSO 2013)
- Knowledge of the Oil & Gas industry is an advantage.
- Demonstrated experience in a commercial compliance or audit role.
- Experience of Sarbanes Oxley (SOX) requirements is an advantage
- Demonstrate high level of accountability.
- Effective at maintaining relationships, proactive in “building bridges” across functions and processes by maintaining dialogue to discuss “silo” risks.
- Professional communication and confident presentation skills (both verbal and written) to highest level in the organisation.
- Comfortable to work in an environment of change, good planning and organisational skills to balance and prioritise work.
- Ability to work independently and as part of a team.
- Strong analytical and problem-solving skills, strong computer and business solutions and accounting software skills, ability to identify and understand the root causes of issues and capable to advise on appropriate resolution.
- Willingness to travel including international engagements.
- Bachelor / Masters degree.
- ACCA/ACA/CIA/CPA (part or full) qualification is preferred.