CF RIC RH NAM = Corporate Finance (CF) – Risk and Internal Controls (RIC) – Regional Hub (RH) – North America (NAM), supports over 65 entities in three Lead Countries (USA, Mexico and Canada). Its sole task is to support the lead country management in ensuring that the most significant risks of Siemens business are sufficiently covered by internal controls. Moreover, we provide the lead country management with a sufficient level of assurance that their controls are in place and effective through annual testing.
CF RIC RH-NAM has a representative office in each of the three lead countries. Our aim is to be a trusted partner for the CEO, CFO, business leaders and key support functions in consulting them on how they manage their processes, developing ideas on how to implement controls in an efficient manner and high level of quality. And when something goes wrong, CF RIC is there to support them in finding ways to mitigate risks through well designed internal controls and follow up activities for deficiencies reported from our assessments. Lastly, CF RIC RH-NAM US helps to drive awareness about the importance of internal controls and how they are an integral part of everyone’s day to day work.
Our employees learn about every important process created within Siemens (from Accounting to HR, from Taxes to Legal, from EHS to Quality Management, from PM @ Siemens to Circular management etc). What’s more we provide our team with a deeper understanding on how to identify risks in those processes and how to potentially prevent them. This is truly a great asset to possess which you can apply in your future career steps as you grow within the company. Lastly, we offer our teams the opportunity to interact with all levels of management, all divisions, all support functions and even other regions - all of which is great exposure for their future career paths!
We are looking for highly motivated, career minded individuals who want to take that next step in widening their horizon within Siemens and building up their skill sets to create a solid foundation for the future.
The main tasks of the IC Coordinator are to support the IC manager in the following:
- Ensuring the successful execution and assessment of the internal control system in all entities within the Lead Country as defined in the RIC manual and in accordance with the RIC Milestones, for example::
o Consult local entity management – if required – on “opting in” or “opting out” of RIC assessments (using a risk based approach) each fiscal year – applicable only for low risk entities (Cat 3)
o Ensure applicability analysis is performed by each entity and that the rationale for all “not applicable controls” is properly documented and communicated to the entity management.
o Ensure that Fraud risk assessments are conducted annually for all entities in scope in accordance with the RIC Manual and COSO Framework for all entities in scope of ICFR (Internal Controls over Financial Reporting)
o Drive the quarterly “In Control” Certification and annual “In Control” Statement procedures
o Perform entity scoping process for new entities
o Coordinate local account scoping for all applicable entities and determine the required Assessment Approach for each control requirement.
o Assign and train management / governance owners on how to identify entity risk within specific activities and Key Controls.
o Ensure the timely documentation of all key controls and completion of all outsourcings prior to assessments.
o Facilitate and drive high quality assessments of key controls through the careful selection and training of independent assessors. This also includes the timely allocation of assessors to key controls, close monitoring of the assessment status and validation (quality checks) of their work (test of design and test of operating effectiveness).
o Ensure proper documentation of deficiencies throughout the year including appropriate prioritization and continuous use of other sources to detect further deficiencies, such as Audit reports from E&Y, CF A Reports, Operational Reviews, etc.
o Ensure that the Control Requirement Contacts and local Management are properly consulted in identifying remediation actions as well as discuss results with CEO’s and CFO’s of the affected entities if required.
o Monitor and report the progress of deficiency remediation on a regular basis.
o Coordinate local circular enactment and implementation process together with the assigned responsible in the Lead Country.
In addition to this, other strategic tasks / projects may be appointed to you, such as
- Establish and coordinate a circular implementation process for the lead country US, which includes but is not limited to setting up and managing a project team with involvement of representatives of the business and key support functions, developing and rolling out an overall concept (including also looking into IT solutions to automate the process).
- Complete Document Management Center Optimization project within SII, which includes adapting the existing process and handing over activities from RIC to the business / process owners. This also includes managing an IT budget and ensuring timely execution of the IT enhancement to the DMC tool and completing the Siemens US Corporate Core Intranet page with all departments and links to guidelines.
- Drive the Circular Enactment process on a quarterly basis for the Lead Country CEO and CFO.
- Identify new ways and ideas where controls can be made more efficiently, to decrease the amount of manual efforts in key control execution within the company and increase the level of assurance.
- Promote best practice sharing through the further standardization of Key Controls across the region
- Align with external auditors (E&Y) on a regular basis and ensures a clear efficient flow of documentation requests to reduce the impact (workload) on Siemens entities while at the same time ensuring the auditors also receive all sufficient documentation to conduct their audits.
- 5 to 7 years of proficiency in corporate accounting & audit to include but not limited to reporting, internal audit & controls
- Proven track record of presenting financial data to senior management
- Advanced knowledge & utilization with MS Office Excel, Word, and PowerPoint
- Must be adept at creation & use of pivot tables/formulas such as VLOOKUP for analysis of large amounts of data and expedient conclusion on the results
- The ability to be a team player
- Excellent communication and presentation skills
Requisition Number: 223282