Business Controls Function – Associate Director. Internal Controls & Business Process Optimization
Position Purpose
The Associate Director, Internal Controls & Business Process Optimization, represents the Business Controls Function (BCF) as a contributor to our controls and business process optimization program, responsible for governance and ownership of Bristol-Myers Squibb’s (BMS) internal control design and assessment program. This position reports directly to the Director, Internal Controls & Business Process Optimization (the Director). The individual is a key contributor to the BCF, based in Princeton, New Jersey. This role will assist the Director in global service level delivery with respect to the BCF’s financial control compliance program, and helping govern the BCF’s Business Process Champions (BPCs), experts in the Company’s end-to-end processes, to mitigate risk. The individual selected for this position will help implement best practices, remain abreast of developments, serve as partner to the business process owners, and incorporate concerns from these sources into the Company’s financial risk management and compliance program. The position is responsible for helping drive enhancements of the BCF’s overall financial compliance program.
Duties & Responsibilities
Governance
- Assisting with implementation of overall operating standards, framework and governance including special projects to achieve the BCF organization strategic objectives and SOX program enhancements.
- Monitoring compliance with governance of our processes including work instructions, new requirements delivered in training, day-to-day support of the BPCs and outsourced service provider responsible for controls effectiveness assessment, in their execution of the Company’s financial risk management and Sarbanes-Oxley compliance program.
- Report to the Director and other BCF Leadership on achievement of key performance indicators for the department to measure the effectiveness of the Company’s financial compliance program.
- Liaise directly with the Company’s external auditors to ensure their activities are efficient and effective and needs are met, while minimizing burden on business process owners (e.g., business process walkthroughs, level of reliance on the Company’s financial controls compliance program, etc.).Monitor to ensure prompt SOX testing completion in accordance with the schedule set by the Director.
Internal Control Maintenance & Enhancements
- Work with BCF leadership to identify opportunities for continuous improvement and efficiencies in SOX activities and the BCF organization.
- Aid in preparation of a formal risk assessment for all of the Company’s key business cycles, including record-to-report, order-to-cash, source-to-pay, employee benefits, long-lived assets, tax, and treasury, with objectives and mitigating actions. This comprehensive risk assessment considers financial, operational, strategic and fraud risks.
- Regularly monitor and report on the Company’s third party controls testing team, who perform a significant portion of control testing on behalf of BMS. Reviewing third party testing team’s results and quality of work, making recommendations areas for improvement where necessary. Regular reporting out on the aforementioned to the BCF’s Executive Director and Leadership team.
- Helps ensure accuracy, completeness, and thoroughness of updates to the company’s internal control standards, test scripts, and
- Oversee on-going review of changing processes and ensure process change updates are documented in accordance with SOX requirements.
- Provide assistance in analysis of internal control deficiencies of significance, including analysis of pervasiveness and financial magnitude, and drafting of related whitepapers.
Education/Experience
- Certified Public Accountant or equivalent required.
- Knowledge of the Sarbanes-Oxley Act, including sections 302 and 404, the COSO Framework, and Public Company Accounting Oversight Board promulgations.
- Desire to develop or already has deep understanding of risk across all key business/financial cycles.
- Proficient in US GAAP accounting provisions, accounting principles, audit and disclosure requirements of financial statements.
- 10 years minimum total professional experience in accounting, audit, and/or internal control. Big 4 public accounting / consulting experience desirable.
- Process and control documentation experience desirable.
- Experience with process enhancement and systems implementation initiatives and/or working in a transformational environment.
- Previous Finance department experience a plus (e.g., financial analysis, close responsibilities, financial system implementations, etc.).
- Bachelor’s degree in accounting required.
Functional/Technical
- Understanding of internal controls, SOX regulations, as well as operational and financial business processes.
- Ability to effectively represent the BCF to senior leadership.
- Ability to manage multiple projects and competing priorities, while working independently or with a team, with speed and accountability.
- Business partner attitude and ability to collaborate and influence leaders.
- Ability to work with a range of technically and culturally diverse people.
- Strong written and verbal communication to facilitate relationship building with peers and senior management. Comfort presenting to BCF leadership.
- Ability to execute a solution and communicate issues that require remediation in a confident and successful manner.
Developmental Value
- Develop subject matter expertise in all Sarbanes-Oxley matters, including the COSO framework, sections 302 and 404 of the Sarbanes-Oxley Act (SOX), and key risks for the Company’s financial statement business cycles.
- Opportunity to contribute to the enhancement of an already best in class financial risk management program.
- Opportunity to be part of a professional and high performing team of over 90 diverse professionals, that is continually evolving and reacting to the key, top-of-mind risks facing senior management and an integral contributor to the Company’s overall enterprise risk management program. Position will provide exposure to all types of risk, including financial, strategic, operational, fraud, compliance, and other areas.
- Develop the ability to impact and influence within the Company to deliver superior business results and protect shareholders.
- Opportunity to contribute to the execution of the BCF’s long-term strategy and growth of the department.
