Senior Associate - Financial Controls Lead

New York Life Insurance; New York (NY); On-site; USD 95,000 - 163,000; Full time

Job summary

An established industry player is seeking a detail-oriented professional to enhance their internal controls and financial reporting processes. This hybrid role involves supporting the governance of the MAR/SOX Program, collaborating with various teams, and ensuring compliance with regulatory standards. The successful candidate will have a strong background in accounting or finance, with at least four years of relevant experience. This position offers a unique opportunity to contribute to a company recognized for its commitment to diversity and community engagement, while also enjoying a comprehensive benefits package designed to support work-life balance and personal growth.

Benefits

Leave Programs

Adoption Assistance

Student Loan Repayment Programs

Annual Discretionary Bonus

Incentive Program

Qualifications

• 4+ years of experience in internal control over financial reporting.
• Basic knowledge of Service Organization Control reports is required.
• Strong communication and leadership skills are essential.

Responsibilities

• Support the development and maintenance of the MAR/SOX Program governance.
• Execute testing programs for business processes and IT controls.
• Collaborate with business units to ensure compliance with MAR/SOX requirements.

Skills

Internal Control Oversight

Financial Reporting

Communication Skills

Leadership

Teamwork

Problem-Solving

Education

Bachelor's Degree in Accounting

Bachelor's Degree in Finance

Tools

Microsoft Excel

Microsoft Word

Microsoft Access

Microsoft Visio

Microsoft PowerPoint

SharePoint

Auditboard

Job description

Location Designation: Hybrid - 3 days per month

This role is a hybrid position. Once a month in the NY Office.

Ensure organizational standards, governance and practices for the company’s internal control over financial reporting complies with the NAIC Model Audit Rule (MAR) and Sarbanes-Oxley Act (SOX).

Responsibilities include:

1. Support the ongoing development and maintenance of the NYL MAR/SOX Program governance, policies, standards and procedures.
2. Support the Financial Controls Unit (FCU) Manager to execute the day-to-day activities of the MAR/SOX program.
3. Responsible for the execution of the testing program for all business process, IT general controls, application controls, end user computing, and third-party service provider controls that impact financial reporting.
4. Support the FCU Manager with materiality and scoping of all business process and IT general controls that impact financial reporting.
5. Work with process and control owners to develop remediation strategies to address deficiencies in internal control over financial reporting.
6. Responsible for the evaluation of system implementation and conversions impact on internal control over financial reporting to determine key controls have been designed and subjected to implementation (user acceptance) testing prior to go-live.
7. Responsible for the evaluation for testing source data (e.g., extract files, control reports, etc.) used in the execution of controls to ensure completeness and accuracy.
8. Collaborate with business units to assess consistency of the application of MAR/SOX Program requirements.
9. Assist with developing and contributing to the tools that support the MAR/SOX Program (SharePoint, Auditboard, etc.).
10. Assist with the development and compilation of executive level presentations on the state of internal control over financial reporting for the MAR/SOX Program.
11. Support the development, maintenance and delivery of MAR/SOX Program training curriculum.
12. Support coordination with internal/external risk and control functions (e.g., Risk Management, Corporate Audit, Corporate Compliance, external auditor) to improve integration of governance, risk and compliance functions.
13. Act as liaison with Corporate Audit, external auditor and state regulators for internal control over financial reporting issues.
14. Proactively collaborate with the first, second and third lines of defense to drive awareness, accountability and additional oversight in the implementation and ongoing effectiveness of internal control over financial reporting.
15. Proactively participate in various risks and controls committees and/or working groups of NYL as assigned.

Qualifications:

1. Bachelor's Degree with emphasis or concentration in Accounting, Finance.
2. Minimum of 4 years of experience in roles with major responsibilities for oversight of and/or testing internal control over financial reporting is required.
3. Basic knowledge of Service Organization Control reports (e.g., SOC1s) is required.
4. Strong knowledge of Insurance and Actuarial businesses is preferred.
5. Big four experience is required.
6. CPA or CIA is preferred.
7. Demonstrated leadership and ability to manage and supervise staff/consultants in a highly productive environment.
8. Strong oral and written communication skills. Must be able to effectively communicate with various levels of management, internal customers and auditors.
9. Team oriented. Ability to work in a fast-paced environment and shift priorities as necessary.
10. Proficient in Microsoft Excel, Word, Access, Visio, Power Point and SharePoint is required.

Pay Transparency:

Salary Range: $95,000-$162,500

Overtime eligible: Exempt

Discretionary bonus eligible: Yes

Sales bonus eligible: No

Actual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.

Our Benefits:

We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work.

Our Diversity Promise:

We believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community. This is why diversity, equity, and inclusion (DEI) are guiding principles that are embedded in our brand and our culture.

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.

Job Requisition ID: 91650