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Manager, Internal Controls

Equitable Bank, Toronto, Ontario, Canada Req #738
Monday, June 24, 2019

Department:               Finance and Accounting

Reports To:                  Director, Finance Projects and ICOFR

Title:                             Manager, Internal Controls


Purpose of Job:


Responsible for preparing, documenting and evaluating the company’s Internal Control over Financial Reporting (ICOFR) Program.  This position is a key function in assessing the company’s compliance with the requirements of Canadian Securities Administrators’ National Instrument 52-109.


This position executes the evaluation of the design and operating effectiveness testing of the Company’s Disclosure Controls & Procedures (DC&P) ICOFR processes to support the CEO and CFO certifications under the (NI) 52-109.


Additionally this position is responsible for maintaining and updating existing ICOFR process documentation as well as creating ICOFR documentation for new processes and initiatives.


Main Activities:


  • Identify, understand and document processes and procedures surrounding internal controls. Understand the requirements of NI 52-109 and assist in maintaining processes and functions to help ensure compliance.
  • Continually monitor and update the assessment of the control environment, keeping abreast of significant control issues, trends and developments.
  • Document the design and evaluation of new business processes and initiatives. Identify and assess the implementation of new controls as necessary.
  • Perform walkthroughs of processes and management testing of internal controls.
  • Evaluate the effectiveness of controls to manage significant risk exposures, ensure the integrity and reliability of information used for financial reporting, safeguard company assets, and comply with laws and regulations.
  • Provide reports on a regular basis, and as directed or requested, to keep the Board, through the Audit Committee and the senior leadership team, informed on a timely basis of key issues and risks for ICOFR related matters.
  • Respond to financial control enquiries and advise stakeholders on related matters.
  • Provide ad hoc assistance with projects to support the Bank’s initiatives, as required.



Knowledge/Skill Requirements:


  • ‘Masters’ level or equivalent education (i.e. MBA) or a comparable professional accreditation in finance (i.e. CA, CMA, CGA).
  • 5+ years relevant business experience, preferably in the financial services sector.
  • Advanced knowledge of the COSO Internal Control Framework, plus developments in banking regulations and guidelines.
  • Advanced knowledge of Internal Control over Financial Reporting (i.e. ‘SOX 404’, ‘NI 52-109’) with a strong internal control testing/audit background.
  • Comprehensive knowledge of auditing practices, procedures and sampling techniques, sufficient to interpret and analyze complex concepts.
  • Experience in the development and execution of test programs for evaluating the operating effectiveness of key controls, especially those that affect financial reporting.
  • Strong interpersonal, analytical, problem solving and communication (both written and verbal) skills with the ability to convey complex issues in clear and concise manner.
  • Highly organized with strong time management skills to deliver concurrent projects with competing priorities.
  • Advance computer skills (MS Word, Excel and Visio).
  • Knowledge of the Canadian banking industry and experience with financial products (i.e., Mortgages, GIC’s, etc.) preferred.

Other details

  • Pay Type Salary
  • Equitable Bank, Toronto, Ontario, Canada