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Key Responsibilities and Required Skills for Internal Specialist

💰 $ - $

OperationsComplianceInternal ControlsRisk ManagementGovernanceAudit

🎯 Role Definition

The Internal Specialist is responsible for designing, implementing and monitoring internal control frameworks, coordinating compliance and audit activities, and partnering with business stakeholders to reduce operational risk and enhance efficiency. This role requires a blend of technical competence (data analysis, ERP systems, policy development) and strong stakeholder management to shepherd remediation programs, support regulatory reporting, and translate control requirements into workable standard operating procedures (SOPs). Ideal candidates are proactive problem-solvers with experience in audit, compliance, process improvement, or risk management who can operate across cross-functional teams and influence process change.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Internal Controls Analyst / Compliance Analyst
  • Process Improvement Specialist / Business Analyst
  • Junior Internal Auditor / Risk Analyst

Advancement To:

  • Senior Internal Specialist / Internal Controls Manager
  • Compliance Manager / Risk Manager
  • Head of Internal Audit / Director, Governance & Controls

Lateral Moves:

  • Operational Excellence Manager
  • ERP Controls & Governance Lead

Core Responsibilities

Primary Functions

  • Design, document and maintain the internal controls framework across critical business processes, ensuring alignment with company policy, industry standards and regulatory requirements; prepare control matrices and owner mappings.
  • Lead periodic risk assessments and control effectiveness reviews, identifying gaps and prioritizing remediation actions with clear timelines and owners to reduce residual risk across operations.
  • Coordinate and respond to internal and external audit requests, assemble supporting evidence, manage testing schedules, and track audit findings to closure while communicating status to stakeholders and senior management.
  • Develop, review and update policies, standard operating procedures (SOPs) and process documentation to embed consistent compliance practices across the organization.
  • Drive corrective action plans for control deficiencies and compliance issues: facilitate root-cause analysis, assign remediation tasks, monitor progress, and validate effectiveness of fixes.
  • Conduct control testing and compliance monitoring including sampling, walkthroughs, and exception analysis; produce formal testing reports and recommendations for process strengthening.
  • Build and maintain KPI and compliance dashboards (Power BI, Tableau or Excel) to provide management with timely insights on control health, incident trends, and remediation progress.
  • Perform detailed data analysis using SQL, advanced Excel, or scripting to identify anomalies, exceptions, or potential control breakdowns; translate findings into actionable remediation requests.
  • Partner with IT and ERP teams (SAP, Oracle, Workday) to identify and document system controls, support user access reviews, segregation-of-duties (SoD) assessments, and change-control activities.
  • Lead cross-functional remediation projects and process improvement initiatives using Lean, Six Sigma or project management best practices, ensuring on-time delivery and measurable outcomes.
  • Serve as the subject matter expert for specific regulatory regimes or internal policies (e.g., SOX, GDPR, AML, HIPAA), providing advice to business units and ensuring consistent interpretation and application.
  • Manage incident investigations related to control failures, fraud indicators or policy breaches; coordinate evidence collection, interviews, and escalate findings with recommended disciplinary or corrective actions.
  • Facilitate training and awareness programs for business teams on control requirements, policy changes, compliance best practices, and incident reporting procedures to strengthen control culture.
  • Oversee vendor and third-party due diligence for compliance and operational risk, review contractual terms for control implications, and monitor third-party performance against control expectations.
  • Maintain a controls repository and documentation library, ensuring version control, distribution and archival practices meet audit and regulatory standards.
  • Prepare executive-level reports and presentations summarizing control metrics, audit outcomes, risk exposure, and remediation status for leadership and board committees.
  • Support regulatory filings and compliance reporting by compiling accurate data, preparing narratives, and coordinating with legal or regulatory affairs as needed.
  • Participate in change management activities for business process redesigns and system implementations, embedding control considerations into project requirements and test plans.
  • Conduct ad-hoc deep-dives into transactional, operational or system issues to support business units with timely root-cause analysis and interim compensating controls.
  • Collaborate with legal, privacy and security teams to align controls with data protection requirements, incident response plans, and confidentiality obligations.
  • Lead continuous improvement of the internal control program by benchmarking industry standards, incorporating audit recommendations, and leveraging automation opportunities to reduce manual control burden.
  • Provide mentorship and guidance to junior compliance or controls staff, review their work products, and support skills development across the team.

Secondary Functions

  • Support ad-hoc data requests and exploratory data analysis.
  • Contribute to the organization's data strategy and roadmap.
  • Collaborate with business units to translate data needs into engineering requirements.
  • Participate in sprint planning and agile ceremonies within the data engineering team.

Required Skills & Competencies

Hard Skills (Technical)

  • Internal controls design and testing (control matrices, walkthroughs, sampling)
  • Risk assessment and remediation program management
  • Regulatory compliance and audit coordination (SOX, GDPR, AML, HIPAA as applicable)
  • Data analysis: SQL, advanced Excel (pivot tables, VLOOKUP, macros), data validation
  • Business intelligence tools: Power BI, Tableau, or equivalent dashboarding platforms
  • ERP systems experience: SAP, Oracle, Workday, or other enterprise systems (user access and SoD knowledge)
  • Policy and SOP development, version control and documentation standards
  • Project management: Agile and Waterfall methodologies; experience managing cross-functional initiatives
  • Process improvement methodologies: Lean, Six Sigma or continuous improvement techniques
  • Incident and case management tools; forensic review and investigative techniques
  • Contract and vendor compliance review practices
  • Familiarity with ITGCs and application controls; basic understanding of system change management

Soft Skills

  • Excellent written and verbal communication; capable of producing executive-level summaries and detailed technical reports
  • Strong stakeholder management and influencing skills across functions and seniority levels
  • Problem solving and critical thinking with a structured, analytical approach
  • High level of attention to detail and commitment to data accuracy
  • Proven ability to prioritize in a fast-paced environment and manage multiple concurrent projects
  • Ethical mindset and ability to handle confidential information with discretion
  • Collaborative team player who can work cross-functionally and build consensus
  • Change agent mindset: comfortable driving process change and training end users
  • Resilience and adaptability when responding to urgent control issues or audit findings
  • Coaching and mentoring skills to develop junior colleagues

Education & Experience

Educational Background

Minimum Education:

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

Preferred Education:

  • Master's degree (MBA, MSc in Risk/Compliance, or related) or professional certifications such as CISA, CIA, CCEP, CRISC, PMP, CPA or Lean Six Sigma.

Relevant Fields of Study:

  • Business Administration
  • Finance / Accounting
  • Information Systems / Computer Science
  • Risk Management / Compliance
  • Legal Studies / Corporate Governance

Experience Requirements

Typical Experience Range:

  • 3 to 7 years of relevant experience in internal controls, compliance, internal audit, risk management, or operational excellence.

Preferred:

  • 5+ years with proven track record in control frameworks, audit coordination and remediation, process improvement, and working knowledge of ERP systems and data analysis tools. Experience in regulated industries (financial services, healthcare, pharmaceuticals, utilities) is highly desirable.
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