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JOB TITLE:                Internal Controls Senior Advisor

REPORTING TO:       Head of External Reporting

LOCATION:                Liverpool or London

Salary:                        £dependent on experience

 

Role summary

 

This position has full responsibility for leading the internal control activities, both over financial reporting and related finance processes across the Seadrill Group. Seadrill’s internal control framework was originally designed to support SOX compliance, and although this is no longer required, a robust and improving internal control framework remains the most important tool for achieving management’s risk tolerance for financial reporting and custodianship over assets.

 

The Internal Control Senior Advisor will maintain and develop Seadrill’s framework to ensure that procedures and policies supporting financial reporting comply with company directives and COSO. This role will lead Seadrill managements’ activities in assessing their effectiveness through an annual testing cycle, and will be instrumental in leading improvement to the effectiveness and efficiency of the overall internal control environment in Seadrill, through process improvement, roll out of good practice and managing the evolution of regulatory requirements.

 

 

Role description

 

The Internal Controls Advisor will:

 

  • Maintain existing and develop new process documentation for finance processes, ensuring that they clearly and accurately reflect current processes, and identify any potential control gaps.

 

  • Conduct the testing programs that Seadrill has in place to ensure that the directives, procedures and policies being practiced surrounding financial reporting comply with company objectives and the COSO framework.

 

  • Liaise with finance teams globally as necessary to ensure that process changes are effectively captured within Seadrill’s risk and control matrix.

 

  • Advise finance teams in developing remediation plans for any issues identified with financial controls and manage the progress of those plans.

 

  • Manage the update of the annual risk assessment for finance processes, ensuring that the impact of business change is appropriately considered.

 

  • Maintain and deliver the company’s half-year certification process.

 

  • Develop and deliver status reporting for Internal Control SteerCo and Seadrill Audit Committee as required.

 

  • Advise management on how to continuously improve and refine the effectiveness of the company’s control processes and ensure that the changes to regulatory requirements are proactively managed.

 

  • Collaborate with all relevant stakeholders (i.e. External Auditors, Finance, Supply Chain, HR, Payroll, IT and other teams across the Company) in connection with execution of monitoring activity.

 

  • Provide internal control and finance risk subject matter expertise to other assignments or special projects as requested by management. This role will be responsible for ensuring internal control has appropriate consideration in the delivery of finance and related process change.

 

Role requirements

 

Required knowledge:

  • Understanding of financial internal control environments (e.g. COSO), including knowledge of general auditing principles.
  • Knowledge of financial accounting / reporting requirements for a listed company.

 

Experience required:

  • Demonstrated post-qualification experience in a line finance or audit role.
  • Experience working with internal controls or Sarbanes Oxley (SOX) requirements.
  • Finance transformation experience is desired.
  • Understanding of IT general controls as applied to ERP systems is desired.

 

Skills/abilities:

  • Effective at maintaining and building relationships across functions and processes by maintaining dialogue with Seadrill leaders to discuss and advise on‘silo’ risks.
  • Effective gravitas demonstrated through professional communication and confident presentation skills (both verbal and written) to the highest level in the organisation.
  • This is a highly autonomous role and therefore will need to be comfortable working in an environment of change, with strong planning and organizational skills to balance and prioritise work.
  • Strong analytical and problem-solving skills with the ability to identify and understand the root causes of complex technical issues and capable to advise finance leadership on appropriate resolution.
  • Willingness to travel including international engagements (currently limited).

 

Qualifications

 

Education/Qualifications:

  • Bachelor / Masters degree.
  • ACCA/ACA/CIA/CPA qualification

 

JOB SIZING

 

Time activity is based on weeks per year in overall, rather than elapsed time.

 

Activity

Frequency

Time for activity (weeks p.a.)

Comments

MONITORING

Testing of finance bi-annual controls

Annual

4

To follow H1 close. Test plans in W-desk

Testing of finance annual controls

Annual

1

To follow H2 close

Testing of other finance controls

Annual

2

Can be performed at any point in Q2 or Q3

Follow up on control owners on deficiencies

Ad hoc

2

 

FRAMEWORK MAINTENANCE

Follow up on control owners on control updates

Quarterly

2

Control owners responsible for updates but will need periodic follow up

Issue and deficiency maintenance

Ad hoc

2

 

Update finance risk assessments

Annual

1

 

Set up and follow up on certifications

Bi-annual

1

July and January

REPORTING TO MANAGEMENT

IC SteerCo

Monthly

2

 

Audit Committee

Bi-annual

1

 

Year end reporting

Annual

1

Format TBC

TOTAL

 

19