SOX Program Director, Managing Director

  • Company: State Street
  • Location: Boston, Massachusetts
  • Posted: November 03, 2017
  • Reference ID: 174004
The SOX Program Director Managing Director will be responsible for the SOX Compliance Program at State Street. This individual will have the overall ownership of implementing and executing the SOX Compliance Program. The person will report directly to the Senior Vice President Global Head of Financial and Regulatory Assurance
Lead the efforts on centralization of the SOX testers
Establish milestones and timelines for SOX program
Perform risk assessments and dynamically manage the SOX program assessing the impact of the business changes (e.g. system conversions process transformation divestitures new regulations etc.) to scope and coverage
Perform/oversee end-to-end walkthroughs of key processes and key controls with the process owners to obtain an understanding of the controls and assess design
Oversee testing of key controls
Assess potential deficiencies (both identified by the business and the IT SOX teams) to determine their impact on financial reporting including identifying compensating/complementary controls that will minimize the risk of misstatements
Work with the process/control owners to develop remediation/action plans for any deficiencies identified
Monitor deficiencies to ensure timely closure of the deficiencies
Monitor issues identified through other control programs (regulators external auditors and three lines of defense) to assess their impact on scope financial statements and deficiency classification
Determine and manage the inventory of applications models user tools and third party service providers
Review the User Complementary Controls noted by the third party service providers for corresponding controls at State Street; ensure that the controls at State Street are working as intended
Coordinate presentations and management communications (Examining and Audit Committee Disclosure Committee Certification Committee etc.)
Partner with the IT SOX Manager to assess IT scope coverage test results and deficiencies
Develop and maintain SOX training curriculum; monitor completion of training by key stakeholders on a timely basis
Ensure all documentation supporting the conclusion and opinion is detailed comprehensive and retained according to Firm standards
Partner with Internal and External Audit to manage expectations coverage and address identified concerns
Determine and agree on materiality thresholds and scope with External Audit
Monitor and assess the impact of regulatory changes to the SOX program
Serve as the SOX point of contact for any requests queries concerns
Develop and oversee the execution of the annual SOX testing plan.
Ensure control owners understand their role and responsibilities; provide training as needed on control framework.
Required Competencies and Skills
15+ years of progressive experience with a mix of audit accounting finance and/or consulting roles.
Experience with oversight of SOX compliance activities including the development implementation risk assessment and testing and reporting activities
At least 4 years of Big 4 public accounting experience preferred.
Experience in the financial services industry (capital markets or financial technology) preferred.
Experience managing a team of 10-20.
Thorough understanding of US GAAP Sarbanes Oxley and COSO and PCAOB requirements.
Ability to take initiative to identify prioritize and implement all elements required for the SOX team to fulfill responsibilities.
Leadership experience in organizing planning and executing projects from conceptualization through implementation across multiple internal and external reporting and organizational lines.
Experience building and managing on-site and remote/offshore teams.
Strong problem-solving skills investigative and analytical skills including ability to effectively address issues in collaboration with others.
High attention to detail and accuracy.
Demonstrated ability to develop trusted working relationships at all levels of the organization.
Strong communication facilitation and influencing skills with experience developing and facilitating training programs.
Strong project management and organizational skills.
Ability to cultivate relationships and collaborate with multiple stakeholders including business leaders legal audit and technology.
Ability to drive results effect change and have a positive impact on the organization.
Education - Certification
BA in Accounting or Finance
CPA Designation Preferred

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