The opportunity
Group Finance/ Reporting Control Management is the corporate staff department responsible for the Internal Control over Financial Reporting. In this capacity the team is the linking pin between the Group Finance and the other corporate departments, local bank entities and shared service centers. This includes maintaining the day-to-day relationship with the local finance control officers and taking the ownership for implementing the requirements leading to a sound internal control over global reporting processes. This is a dynamic environment as requirements in financial and regulatory environment are continuously increasing.
The department supports internal stakeholders within Group Finance by ensuring that the processes, controls and their testing is performed in line with the internal and external reporting requirements. Further internal stakeholders are non-financial risk departments, enterprise risk management business representatives, internal and external auditors. The RCM team has a dynamic culture, characterized by open, direct and informal communication, with a focus on team work.
Role and responsibilities
As a Principal in Finance Control, you are co-responsible for maintaining an effective framework for identifying and reducing reporting risks as well as increasing control awareness. You are strongly result-oriented professional who continuously looks for ways to drive change/improve and deliver high quality. You have a deep knowledge and experience and dare to speak out. You are capable to translate a generic strategy into tangible actions, approach issues from a 'helicopter' perspective but can also handle issues in detail when necessary. You are independent but also able to work in small teams coaching more junior team members or as part of larger (multi-disciplinary) projects and programs.
The team's tasks include the following, in which you will play a principal role:
Develop, update and maintain the ING guidance on Internal Control over Financial Reporting (such as yearly update of the Entity Level Controls Framework (incl test plans), evaluation of deficiency guidelines and reporting instructions);
Coordinate and actively participate in the ICFR/SOX404 sign-off process;
Involvement in the local sign off of countries and Business Lines and Corporate Departments
Coordination and evaluation of an ING wide focus area (e.g. IT controls, Loan Loss Provisioning, Disclosures)
Coordination and execution of the testing of the Entity Level Controls framework, based on the COSO2013 framework, mainly done via interviews throughout the bank and the assessment of documentation
Help entities with the implementation of internal controls in line with the guidance to ensure a sound control environment, resulting from;
New accounting standards (e.g. recent changes include IFRS 9 and IFRS 16)
Increase of Sox scope, new locations added and need to apply the Sox controls for the first time
Identified deficiencies throughout the organization, indication for attention areas where guidance needs to be improved or training should be given
Lead deep dives into finance control and accounting matters;
Virtual and/or 'on location' site visits
Ad hoc request for deep dives from senior management
ICFR assessment of errors found in financial reporting and/or controls
Seek opportunities for control optimization that is still SOX compliant and ways to reduce the finance control burden on the business. Align with other control frameworks as a contributor/advisor to the Enterprise Risk Management environment.
Responsible for the quality of documents for the ICFR governance meetings;
Open hours, which is a weekly call with all FCOs worldwide where all areas of attention, comments from second line and the external auditors are shared. This is based on the involvement in a specific focus area
Materials for the (bi-)annual evaluation meeting
Materials for the advisory board and quality review board
Help entities with the implementation of Minimum Standards regarding internal controls to ensure a sound reporting environment specifically for regulatory reporting;
Assisting entities with the implementation of the Process Control Standard on Financial and Regulatory reporting (PCS FRR)
Enhancing guidance and evaluation tooling with regard to PCS FRR
Coordinate our external auditor account, incl. monitoring of independence and fees;
Assisting in the preparation of the global contract
Participating in fee and scope discussions
Assessing situations to determine if certain activities performed by the external auditors are not in breach with the independence policy
Assisting/coordinating of the evaluation of the external auditor
Reporting on the above items related to the external auditor to the Executive Board and Audit Committee
Be the Group Finance GCR application expert;
Representing Group Finance in the user board of the ING GRC application, making sure the ICFR requirements are embedded
Acting as the expert on the use of the tool for Group Finance and the ICFR community
Develop training materials and providing trainings and workshops to a wide community of global finance control officers, bringing bank-wide control knowledge up to a required level. This is done via:
Webcasts/calls
Classroom training in Amsterdam or foreign locations
How to succeed
You have a hands-on approach and a healthy dose of organisation sensitivity combined with an independent state of mind. You are convincing in your work and critical (in a positive sense) of your own performance and that of others. You are a very quick learner, a superb team player, have a strong focus on stakeholders, supported by excellent collaboration skills.
In addition, you have:
An academic degree in Finance or Economics, preferably supplemented by an RA (or equivalent) or CIA certificate or in the final stage of studying for this
7+ years of work experience in (external/internal) audit
A deep understanding of the Sarbanes-Oxley Act and the COSO 2013 internal controls framework
Proven experience in complex business process improvements, including design, implementation and execution of (regulatory) oversight processes
A deep understanding of IT, IT related controls (including IT general controls and application controls) is a pre
Demonstrable knowledge of banking business processes and knowledge of the relevant (legal) regulations and procedures
Experience with multi-layered financial statement closing processes, loan loss provisioning and IT general controls;
Superb business acumen and communication skills to help the business and its stakeholders understand, relate to and action key elements of his/her agenda;
Possess a highly ethical and professional "executive" demeanor, along with sound judgement and confidence to represent the bank in both formal and informal settings;
Demonstrated ability to work effectively as a business partner and trusted advisor to the senior management, as well as other internal clients;
Exceptional influencing skills, being assertive without being antagonistic or alienating;
Fluent in English (both writing and speaking);
Bring global perspective and cultural sensitivity
Rewards & benefits
We want to make sure that it's possible for you to strike the right balance between your career and your private life.
The benefits of working with us at the bank include:
- A salary tailored to your qualities and experience
- 24-27 vacation days depending on contract
- Pension scheme
- 13th month salary
- Individual Savings Contribution (BIS), 3.5% of your gross annual salary
- 8% Holiday payment
- Personal growth and challenging work with endless possibilities
- An informal working environment with innovative colleagues
- Work Agile, so new ideas come to life faster
