The Controller’s Division provides subject matter expertise and advice regarding financial reporting, tax treatment, accounting, and internal control activities across all business groups and enterprise functions.
Enterprise Controls & Oversight (“EC&O”) within the Controller’s Division is a governance and oversight team dedicated to Wells Fargo’s system of internal control over financial, regulatory, and risk reporting. We work together to consistently support and monitor our system of internal control over reporting, identify opportunities for increased efficiency and effectiveness, and achieve our commitments to Wells Fargo teams, stakeholders, and regulators.
About the Role
The Business COSO team supports the Company’s on-going objective of maintaining an industry leading financial reporting control environment and is responsible for the following directives:
- Providing meaningful assessments of financial, risk, and regulatory reporting control environment;
- Overseeing compliance with Well Fargo & Company’s COSO based policies for internal controls over financial reporting (SEC and Regulatory Reporting) and strategic planning for on-going compliance with the COSO polices;
- Monitoring new and emerging internal control related guidance and issues and assist with facilitating group-wide training to interested and impacted stakeholders;
- Providing consultation and subject matter expertise for process and control related matters including evaluating severity of control deficiencies and related remediation efforts;
- Providing process and control support and thought leadership for projects;
- Interfacing with external auditors, regulators and others on control related matters; and,
- Acting as a change agent for continual improvement of the control environment.
This individual will contribute to the Business COSO team by
- Performing and/or Leading the following for internal control testing:
- Partnering with Business Process and Control Owners to document significant in-scope processes according to corporate COSO policy (both process narratives and process flow diagrams). Additionally, assessing the appropriateness and completeness of key risk and key controls identified;
- Performing walkthroughs of significant business processes and ensure required COSO documentation is accurate and reflects relevant risk and key controls;
- Partnering with Business Process and Control Owners in the creation of process risk assessments as well as validating and challenging risk assessment conclusions;
- Creating Test Plans to perform Business COSO testing of key controls, including design effectiveness assessments and operating effectiveness testing;
- Performing first level review of workpapers ensuring that testing objectives are met with quality;
- Analyzing the severity of control deficiencies, and their impact to internal control over financial reporting;
- Validating corrective actions and issues;
- Interfacing with KPMG external auditors, G&O and Issue Management team to assist with assessment of COSO issues.
- Building relationships and collaborating with key stakeholders in the applicable line of business functions related to assigned process areas
- Ability to withstand challenges, be flexible and adapt accordingly
- Assisting with projects impacting the team.
Market Skills and Certifications
The successful candidate will be a highly motivated team player that is a self-starter who is accustomed to working in complex organizations with a diverse group of stakeholders, and someone who is able to withstand challenges and adapt accordingly. This individual should have COSO documentation and testing experience.
- 4-6 years of experience in one or a combination of the following: Auditing, Accounting, Analytics, Reporting
- A BS/BA degree or higher in accounting, finance, or economics
- Refined and professional verbal and written communications
OTHER DESIRED QUALIFICATIONS
- Big four public accounting experience, A Masters of Business Administration (MBA) or a Certified Public Accountant (CPA) or Chartered Accountant (CA) or Certified Internal Audit (CIA) Designation
- Experience with large financial institutions
- Prioritize multiple tasks in a fast-paced environment with critical deadlines
- Advanced knowledge of Excel, PowerPoint