Financial Compliance Manager

Overview

The Financial Compliance Manager is a vital role responsible for providing complementary expertise, support, monitoring, and challenge in the management of risk within the organization. The primary objective is to ensure the development, implementation, and continuous improvement of robust risk management practices, including internal controls, at process, systems, and entity levels. The role involves overseeing and facilitating the achievement of various risk management objectives, such as compliance with laws, regulations, and ethical standards, internal control effectiveness, sustainability, and quality assurance.

Roles and Responsibilities

Risk Management Practices : The Financial Compliance Manager develops, implements, and continually improves risk management practices within the organization, working with cross-functional teams to identify risks, assess impact, and develop mitigation or control strategies. Practices should align with industry best practices and regulatory requirements.

Internal Controls : The Manager ensures robust internal control systems across business processes and functions, assesses existing controls, identifies gaps, and implements enhancements to safeguard assets, data, and reputation.

Compliance and Ethical Behavior : Monitor compliance with applicable laws, regulations, and ethical standards to ensure adherence to financial, legal, and ethical norms.

Information and Technology Security : Collaborate with IT and information security teams to assess and enhance security measures.

Testing and Reporting : Conduct testing and generate reports on the adequacy and effectiveness of risk management practices and internal controls, presenting findings to senior management and stakeholders for decision-making and improvement. This includes :

Control Testing : Design and implement testing plans, perform walkthroughs, sample testing, and substantive testing to identify control gaps and areas of non-compliance.

Compliance Testing : Verify adherence to laws, regulations, and ethical standards; ensure policies align with regulatory requirements and best practices.

IT Systems Testing : Test technology controls, data security, and access controls with IT / security teams to safeguard information and systems.

Audit and Assurance Support : Coordinate with internal and external auditors, providing documentation and support during audits.

Test Results Analysis : Analyze results to identify trends and improvement opportunities, and develop recommendations.

Remediation Management : Work with business units to address deficiencies and monitor action plans for timely remediation.

Continuous Improvement : Drive a culture of continuous improvement in risk management and internal controls, staying updated with trends in financial compliance and risk management.

Training and Awareness : Conduct training and awareness programs on compliance requirements, internal controls, and the role of employees in maintaining a compliant and risk-aware culture.

What we need to see from you

Risk Management Expertise : Strong knowledge of risk management principles, practices, and methodologies, including identification, assessment, mitigation, and monitoring.

Internal Controls : Proficiency in designing, implementing, and evaluating internal control systems to safeguard assets and ensure policy compliance.

Analytical and Problem-Solving Skills : Ability to analyze complex data, identify patterns, and derive insights for decisions on compliance and risk challenges.

Communication Skills : Excellent verbal and written communication to convey complex compliance issues to stakeholders, including senior management, auditors, and employees.

Auditing and Reporting : Familiarity with auditing principles to conduct internal audits and generate reports on compliance and risk management effectiveness.

Ethics and Integrity : Commitment to ethical behavior and integrity when handling sensitive financial and compliance matters.

Collaboration and Leadership : Ability to work with cross-functional teams and lead discussions on risk topics and control improvements.

Technology and Data Analysis : Proficiency with tools for data analysis, visualization, and risk monitoring.

Business Acumen : Understanding of the organization’s operations, objectives, and industry dynamics to align compliance with strategic goals.

Critical Thinking : Ability to think critically and strategically about risk scenarios and management strategies.

Change Management : Skill in driving change and promoting a culture of compliance and risk awareness.

Continuous Learning : Commitment to staying updated with industry trends, regulatory changes, and best practices.

Negotiation and Influencing Skills : Ability to negotiate with stakeholders and influence adoption of risk management practices.

Job Function

Finance : Risk Management Expertise

Internal Controls

Analytical and Problem-Solving Skills

Communication Skills

Auditing and Reporting

Ethics and Integrity

Collaboration and Leadership

Technology and Data Analysis

Business Acumen

Critical Thinking

Change Management

Continuous Learning

Negotiation and Influencing Skills

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