- Accountable for the delivery of high quality, professional and cost-effective value-added risk-based SOX and MAR testing throughout the company.
- Develop SOX/MAR policies, methodology, strategy and direction; continually improve SOX/MAR administration processes leveraging technology to the fullest.
- Coordinate the annual financial controls planning process with the teams in Audit Services, management and the external auditor.
- Manage the overall progress of the SOX/ MAR program, escalate delays and risks to the plan. Oversee the monthly reporting to key stakeholders of the overall progress of the program.
- Manage the ongoing SOX/MAR program meetings and communications between the external auditors, management and Audit Services teams.
- Work with Audit Services teams to ensure consistency of SOX/MAR processes, testing, documentation and resolution of deficiencies; identify anomalies across the divisions and implement actions to address these.
- Develop an understanding of the various division, business units and legal entities as they related to financial reporting.
- Understand the SOX/MAR scope of each business unit and monitor the changes in processes that will impact SOX/MAR testing.
- Provide leadership on ways to further improve the effectiveness, efficiency and consistency of SOX/MAR testing across all divisions.
- Work closely with all members of senior management in the audit group to execute the SOX/MAR program and assist with integrating it into their annual plans.
- Assist with the preparation of relevant sections of MFC Audit Committee reports for review by the Chief Auditor.
- Recruit high-caliber staff and provide appropriate development and training.
- Manage staff and budget resources efficiently, economically and effectively.
- Collaborating with management and the external auditors to obtain a consensus on establishing the problem, risks exposure, and corresponding recommendation to resolve the risk exposure.
- Managing management’s expectations regarding deadlines and deliverables.
- Establishing a high level of credibility and building professional relationships with management and the external auditors.
- Prioritization and time management in a multi-tasking environment; meeting SOX/MAR program commitments while maintaining flexibility in audit schedules to meet changing priorities.
- Driving continuous improvement in quality and cost effectiveness of services provided.
- Exercising and demonstrating sound professional judgment.
- Keeping current with new testing strategies, company policies and procedures, regulatory requirements, and knowledge of risk management issues in the insurance industry.
Position Dimensions (Organizational Impact):
- Manage SOX/MAR PMO staff.
- Direct and continual dealings with senior executives across the company to discuss opportunities to improve SOX/MAR processes and testing efficiencies.
- Special work may be performed at the request of external auditors or the regulators in addition to planned SOX/MAR work.
- Strong project management skills and previous experience in a similar role required.
- Ability to quickly understand business processes and their risk implications, analyze complex situations, reach appropriate conclusions, make value-added and practical recommendations and influence management to take appropriate actions on recommendations.
- Excellent knowledge of SOX/MAR methodologies, control frameworks and risk management practices, and regulatory requirements.
- Knowledge of IFRS and NAIC MAR requirements applicable to the insurance industry.
- Demonstrated ability to work effectively in diverse environments and cultures.
- Ability to effectively communicate ideas and recommendations orally and in writing, at Division and Corporate levels, and to listen and consider ideas of others.
- Results oriented; ability to balance multiple priorities and projects.
- Strong relationship skills including a demonstrated ability to deal effectively with staff at all levels to Corporate EVP, Division General Manager and CFO and business unit SVPs, VPs and AVPs.
- Proven leadership and management skills in achieving departmental, project and individual objectives, and in developing staff.
- University degree plus a recognized accounting (CA, CPA, CMA, CGA) designation is preferred, with 10 years business experience including 4 years at a management level.