Internal Controls Manager (Fixed Term)

London (Central), London (Greater)
13 Oct 2016
13 Nov 2016
Contract Type
Full Time
0-25% Travel

Job Title:           Project Manager – Internal Controls

Reports to:        Group Financial Controller

·         Internal financial controls are largely undocumented and informal; there are very few accounting policies and process documents.  This leads to inefficiencies (duplication of effort, reinventing / doing things differently every time), inaccuracies (processes are carried out incorrectly as there is no guidance) and incompleteness (as there is no process documentation, people are unaware of the scope)

·         The company operates in a complex reporting and transactions environment and it is essential to have documented financial policies and procedures to guide and control those who operate these systems.  Non or incorrect compliance leaves the company exposed to potential fines and accounting errors

·         The company is entering into complex new areas like the Insurance Trust, New York, Global Operations, UK wide Operations and Acquisitions and this brings increased risk and exposure

·         The company is required to sign a Tax declaration annually (SAO declaration), but has no documented processes on which to base this declaration (last year we had a one off review by Deloitte)

·         The company needs to have written documented Financial Policies and Procedures (FPPs) to demonstrate to third parties (auditors, potential purchasers etc) that it has a strong compliance with what is standard corporate governance

·         The CEO and the Audit and Risk Committee have approved a project to review / audit our current internal financial controls (“as is”), suggest the best practice internal controls that we should be operating to (“to be”) and create a Financial Procedures and Policies Manual (“FPPM”) to document these new standards

·         The whole project is expected to last 4 to 5 months but may be extended or reduced by mutual agreement; the contract is offered on a five month fixed term contract with one month’s notice by either party.

Scope of review

·         The review should start with a Risk based approach identifying the financial risks to the business and the Internal Financial Controls (“IFCs”) that are required to control and mitigate these risks

·         For each particular area, the phases of the review will be as follows:

o    Discovery – Risk identification, Existing processes, Existing IFCs (“as is”)

o    Scope – finalise scope especially areas to be covered and prioritisation

o    Document and Analyse - Critical audit and review of the effectiveness of Existing IFCs

o    Redesign – suggestions for proposed new processes and controls with revised documentation (“to be”)

o    Implement – hand over revised processes and IFCs to process owners to implement

o    Operate – Process owners to operate new processes and IFCs

o    Review and Evaluate – After a period of time, review effectiveness with continuous improvement cycle

o    Only the first four phases are in scope for this project

·         The minimum scope is to cover all Internal Financial Controls (IFCs) and Taxation (Corporate and VAT and Payroll) and the Insurance / Insurance Trust arrangements

·         Areas within scope – Capex, Order to Cash cycle, procure to Pay cycle, Monthly management reporting, Budgeting and Planning, Quarterly forecasts, Insurance accounting – Captive and Trust, Pay and benefits, Annual statutory financial statements, Direct and Indirect taxation, Cash management and forecasting, Group Treasury, data flows of core information from external systems like Shamrock (internal operations system)

·         Although this would not be within the planned scope, once this is completed, it could be extended to cover all Internal Controls and Risk Management, if required.  This could lead to creating a Risk Management environment working with the Risk and Compliance team.


·         Working alone, no staff supervision responsibilities

  • The job is located at the company's Head Office but may involve travel

Professional skills

·         Internal Audit specialist who has between 5 to 10 years’ experience, including working with UK Corporate Governance (public company standards) and / or Sarbanes Oxley, including in a high volume transaction industry

·         Computer / technology internal audit experience required in order to understand data flows in a complex environment and with strong Excel skills with ability to manipulate, analyse and organise data

·         Expert in reviewing, critically assessing and documenting Internal Financial Controls and especially flow charting skills using Visio

·         Must have experience in having previously produced Financial Policies and Procedures Manuals and therefore excellent written skills

·         Graduate, IIA qualified or equivalent

Personal skills

·         ‘People person’ able to work with a variety of internal and external stakeholders and able to persuade them of the merits of working with the most effective IFCs

·         ‘Hands on’ and organised attitude but able to step back and assess with strong project management skills and toolsets

·         Strong and effective communication skills both written and verbal, including at meetings and by phone

·         Team player interested in team above individual performance

·         Proactive, positive, ‘keen to learn’ attitude and continuous improvement mind set

·         Self-motivated / self-starter with determination and resilience to run the project alone

Performance Standards - The jobholder will at all times:

·         The highest level of confidentiality is required at all times

·         Be polite, courteous and professional when communicating with clients, potential customers and staff

·         Be smart and well groomed, ensure that your appearance meets the high expectations of the Company

·         Normal hours are 9am to 6pm, Monday to Friday

·         From time to time it may be necessary for the jobholder to be flexible in meeting the needs of the company

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