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Key Responsibilities and Required Skills for Internal Controls Manager

💰 $95,000 - $160,000

FinanceRisk ManagementComplianceInternal Audit

🎯 Role Definition

The Internal Controls Manager is responsible for designing, implementing, testing and monitoring enterprise-wide internal controls over financial reporting and related business processes. This role leads SOX 404 compliance activities, partners with finance, operations, IT and external auditors, and drives remediation and process improvement initiatives to reduce risk and strengthen control maturity. The ideal candidate combines technical controls expertise (COSO, SOX, ITGC, application controls), practical ERP/GRC experience (e.g., SAP, Oracle, NetSuite, AuditBoard, Workiva), and strong communication skills to influence business partners and senior leadership.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Senior Internal Auditor (SOX / Financial Controls)
  • SOX Analyst / SOX Senior Analyst
  • Accounting Manager with controls responsibility

Advancement To:

  • Director of Internal Controls
  • Senior Director/Head of Governance, Risk & Controls
  • VP of Internal Audit or Chief Audit Executive

Lateral Moves:

  • Compliance Manager / Head of Compliance
  • Risk Manager / Enterprise Risk Lead
  • IT Controls Manager / IT Audit Lead

Core Responsibilities

Primary Functions

  • Lead the end-to-end SOX 302/404 compliance program including scoping, risk assessment, control design review, testing, deficiency documentation, remediation tracking and year-end attestation to management and the audit committee.
  • Design, document and validate internal control frameworks aligned to COSO and industry best practices to ensure effective financial reporting and operational controls across key business processes.
  • Plan and execute annual and interim control testing cycles for financial close, revenue, procurement, payroll, treasury and other material processes; prepare test plans, sample selections, workpapers and test results.
  • Coordinate and act as primary point of contact with external auditors on control testing activities, requests for information, deficiency discussions and remediation status, ensuring timely and clear responses.
  • Lead risk assessment workshops with process owners and business leaders to identify significant risks, key controls, dependencies and control gaps driving prioritized remediation plans.
  • Manage remediation projects end-to-end: define remediation plans, assign ownership, track progress in an issue-tracking tool, escalate unresolved items, and validate remedial controls before closure.
  • Create, maintain and enforce standardized control documentation including control narratives, process flowcharts, control matrices and ownership registers using GRC platforms (e.g., AuditBoard, Workiva, TeamMate).
  • Evaluate IT general controls (ITGC) and application controls for ERP systems and SaaS applications, coordinate with IT security and application teams on SOD, access provisioning/de-provisioning and privileged access monitoring.
  • Implement continuous monitoring and automated control testing where feasible (e.g., data analytics, exception reporting, system-based controls) to improve efficiency and control coverage.
  • Collaborate with accounting and financial reporting leads to validate account reconciliations, journal entry controls, close checklists and disclosure controls supporting accurate and timely financial statements.
  • Provide leadership and coaching to a team of control analysts and SOX specialists; allocate resources, set performance goals and build capabilities in control testing, documentation and remediation.
  • Drive control effectiveness measurement and maturity assessments; develop KPIs and dashboards for senior leadership and the audit committee demonstrating control health and remediation progress.
  • Review and challenge business process changes, new system implementations, and M&A integrations to ensure controls are designed into processes from day one and to avoid creating new control gaps.
  • Partner with IT, Security and Third-Party Risk teams to ensure alignment on identity access management, change management, release controls, incident response and vendor controls that impact financial reporting.
  • Conduct walkthroughs and control owner interviews to confirm process operation, identify undocumented controls, and obtain evidence supporting control effectiveness.
  • Support quarterly and ad-hoc SOX certifications and management attestations, preparing executive summaries and presentations for the CFO, controller and audit committee.
  • Prepare clear, concise management reporting and executive briefings highlighting control deficiencies, root causes, residual risk and recommended remediation actions with timelines and owners.
  • Maintain and optimize the control repository and GRC configuration to reflect organizational changes, process re-mapping, and system upgrades—ensuring auditability and version control of documentation.
  • Drive process improvement initiatives by applying root cause analysis to repeated control failures, recommending control redesign, simplification, automation, and policy updates to reduce operational friction and residual risk.
  • Ensure compliance with relevant regulatory and accounting standards (SOX, SEC rules, GAAP/IFRS) and stay current on changes in regulation and industry best practices that impact internal control requirements.
  • Manage budget, external consultant engagements, and vendor relationships for controls-related projects (e.g., system implementations, control testing automation), ensuring cost-effectiveness and delivery quality.
  • Lead controls integration during acquisitions and divestitures; perform due diligence of target control environments, identify transitional control requirements, and implement harmonized controls post-close.

Secondary Functions

  • Support internal audit and compliance teams by providing control documentation, test evidence and subject-matter expertise during planned audits and regulatory examinations.
  • Develop and deliver targeted training programs and practical guidance for process owners and control owners on control responsibilities, testing requirements and evidence standards.
  • Maintain a prioritized controls roadmap aligned to enterprise risk appetite, business objectives and planned transformation initiatives (ERP upgrades, process reengineering).
  • Assist in designing and deploying control automation using scripts, SQL queries, analytics (ACL, IDEA), or RPA to reduce manual testing burden and increase defect detection.
  • Participate in cross-functional project governance forums to represent controls considerations, sign off on control design for new initiatives, and monitor post-implementation control performance.
  • Produce recurring metrics and dashboards (control effectiveness, remediation velocity, open deficiency aging) for senior finance leadership and the audit committee.
  • Coordinate with HR and process owners to enforce segregation of duties policies and periodic access reviews; recommend compensating controls where strict segregation is not feasible.
  • Serve as a trusted advisor to finance and operations leaders, influencing process owners to adopt control-friendly process changes while balancing efficiency and customer experience.

Required Skills & Competencies

Hard Skills (Technical)

  • Deep knowledge of SOX 404 compliance requirements and experience managing full SOX lifecycle (scoping, testing, remediation, certification).
  • Strong understanding of the COSO internal control framework and its practical application to finance and operational processes.
  • Experience performing risk assessments, control design reviews, walkthroughs and substantive testing across financial processes.
  • Proficiency with GRC and controls management platforms (e.g., AuditBoard, Workiva, TeamMate, MetricStream) and maintaining a centralized control repository.
  • Hands-on experience with ERP systems and application controls (SAP, Oracle EBS, NetSuite, Workday Financials) and assessing IT general controls (change management, access controls, backups).
  • Ability to use data analytics tools for control testing and continuous monitoring (ACL/IDEA, SQL, Python for analytics, Power BI, Tableau).
  • Familiarity with identity and access management, segregation of duties analysis and privileged access controls.
  • Strong Excel skills (pivot tables, Power Query, advanced formulas) and experience preparing audit-quality workpapers and evidence packs.
  • Knowledge of regulatory reporting implications (SEC reporting, GAAP/IFRS) and experience supporting external audits and regulatory examinations.
  • Project and program management skills for tracking remediation, coordinating cross-functional workstreams and delivering on tight timelines.

Soft Skills

  • Clear and persuasive communicator capable of translating technical control issues into business impact for senior leaders and the audit committee.
  • Strong stakeholder management and influencing skills to drive remediation and embed control responsibilities across business units.
  • Proven leadership, coaching and team development ability to grow junior analysts and build a high-performing controls team.
  • Analytical thinker with attention to detail and a structured approach to problem solving and root cause analysis.
  • Ability to prioritize competing demands, manage multiple testing cycles, and meet deadlines in a dynamic, month-end driven environment.
  • High integrity, ethical judgment and a commitment to maintaining confidentiality and independence in control assessments.
  • Adaptability and change leadership experience to guide the organization through system implementations and process transformations.
  • Results-oriented mindset with a focus on continuous improvement and measurable control effectiveness.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree in Accounting, Finance, Business Administration, Information Systems or a related field.

Preferred Education:

  • Master's degree in Accounting, Finance, Business Administration (MBA) or related.
  • Professional certification(s): CPA, CIA, CISA, CRMA or equivalent strongly preferred.

Relevant Fields of Study:

  • Accounting
  • Finance
  • Information Systems / Management Information Systems
  • Business Administration
  • Risk Management / Finance Technology

Experience Requirements

Typical Experience Range:

  • 5 to 10 years of progressive experience in internal control testing, SOX compliance, internal audit, or financial reporting.

Preferred:

  • 7+ years of experience with at least 3 years leading SOX programs, internal controls initiatives or a controls team within a medium-to-large public company or Big Four advisory environment.
  • Demonstrated track record with ERP implementations or major process transformations, and hands-on experience with GRC tools and analytics for controls testing.
  • Experience coordinating with external auditors and presenting control status to senior finance leadership or audit committees.
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