As part of Grainger’s Global Internal Control and SOX Team, the Senior Internal Controls and SOX Analyst will primarily be responsible for independently evaluating the design and effectiveness of Grainger’s key Finance controls for financial reporting (ICFR) as part of the enterprise SOx 404 assessment. Additionally, this person is expected to develop and maintain effective working relationships with the external auditors and global Controllership teams, including and ICFR owners. This person will support one set process owners from an internal controls perspective and be responsible for testing a different set of processes.
Principal Duties & Responsibilities:
The Senior Internal Controls and SOX Analyst will work within the general guidelines provided by the Sr Manager, Global Internal Controls and SOX in connection with Grainger’s SOx 404 process. The role’s key duties and responsibilities are as follows:
–Participate in the development of the annual SOx testing plan.
–Plan, perform, and manage field work to evaluate the effectiveness of key internal controls for financial reporting.
–Perform testing and peer review team member’s testing to ensure risks are appropriately identified, associated audit procedures are applied and related controls are designed and operating to mitigate the identified risks. Also, ensuring automation of procedures whenever possible. Identify and update the SOx 404 Framework for control and/or testing changes identified through testing. Ensuring testing documentation provided to external auditors to rely upon meets their standards.
–Prepare and report control deficiencies upon discussion with business owners, collaborate with business owners regarding recommendations to address the root cause of issues and report on the status of implementation of management remedial actions.
–Train and supervise other auditors (internal or external) in all phases of SOx 404 testing, including advance preparation, monitoring the progress of the auditors assigned to the project, and reporting results of the audit. Develop and maintain training material for Sox 404 testing. Provide feedback to staff auditors and assistance in their development including assisting the Manager with performance reviews.
–Manage relationship with external auditors including understanding expectations, providing status updates, and addressing comments for reliance work.
–Assist the Manager with reporting status and deficiencies to Management and the Audit Committee.
–Participate in cross-functional committees designed to enhance overall governance compliance program development and continuous process improvements.
–Develop and maintain effective working relationships with the external auditors and global Controllership teams, including ICFR owners.
–Keep up to date with changes in regulations, governance and best practices. Review and update testing procedures and templates to ensure any changes in regulations, governance, or best practices are reflected and incorporated into testing.
–Support process and control owners in design and update of new and existing controls. Become Subject Matter Expert in processes supported and support Controllership projects in those areas as Internal Controls expert.