The SOX/SOC Audit Manager I is responsible for the execution of SOX/SOC testing, which includes managing a body of testing pertaining to the bank’s internal controls over financial reporting and/or specific operational controls. This position is responsible for ensuring the quality and timely execution of testing which will be relied upon by management and the external auditor for decision-making and attestations. The role will need to be familiar with the differences between the role of the external auditor and the role of internal auditor in executing management testing, and be able to provide direct reports technical expertise and training. This role is both a coach and a player, and will need to demonstrate superior organizational skills as there is a high volume body of work.
The work will need to be executed within established department policies, procedures, standards and protocols. The role is a direct report to an Audit Manager II and is responsible for their assigned staff's performance management process and recruiting and engagement, motivation and retention of staff. The Audit Manager I provides input to improve operational efficiency and/or to enhance the design or operating effectiveness of the internal control environment.
• Assign and oversee SOX/SOC body of work to auditors and monitors execution
• Provides technical expertise to staff and is able to manage, measure, and monitor status of work and deliverables in accordance with agreed upon timeframes
• Reviews, evaluates and approves SOX/SOC workpaper documentation, including results of walk-throughs, test of design and operating effectiveness, validation results, and auditor rationale and conclusions, in accordance with departmental procedures, standards and protocols
• Reviews internal audit reports issued for any SOX/SOC implications
• Actively communicates with SOX/SOC team within Finance and external auditor and understands the SOX/SOC project from end-to-end perspective
• Ability to concisely report and prepare metrics/reporting for the status of SOX/SOC testing
• Responsible for staying current on regulatory rules and changes within the industry, with specific attention on SOX/SOC, and communicating changes/developments to the department
• Participates in meetings with business unit to discuss audit results
• Communicates exceptions to related audit team managers as needed
• Conducts the performance management process for direct reports. Oversees the performance management process and ensures that Audit Managers are identifying training and development needs for their respective audit teams
• Communicates with partners at all levels, developing and presenting recommendations on operations and controls for the business unit
• Knowledge of SOX regulation with an emphasis on 404 testing requirements, auditing in the financial services industry, and basic accounting principles
• Knowledge of System and Organization Controls (SOC) auditing standards with an emphasis on Statement on Standards for Attestation Engagements 18 (SSAE 18)
• Professional certifications (e.g., CPA, CIA) and/or an MBA along with demonstrated technical abilities in select areas (e.g., accounting, regulatory compliance, etc.) are preferred
• Strong analytical, leadership, and organizational skills are needed
• Strong project management, report writing and workpaper documentation skills
• Experience managing global and/or virtual teams is a plus
• A College or University degree
• Auditing experience in a financial institution.
• Adept auditing and/or systems experience in a financial institution, or similar public accounting experience in the financial services industry.
For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,100 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.
We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.
As of June 30, 2018, Northern Trust Corporation had:
$135 billion in banking assets
$8.1 trillion in assets under custody
$10.7 trillion in assets under custody/administration
$1.1 trillion in assets under management