What is an Internal Controls Manager Job?
An internal controls manager is responsible for ensuring that a company's financial and accounting procedures comply with legal regulations and industry standards. They oversee all aspects of a company's financial reporting, including risk management, compliance, and internal controls. This role requires a high level of attention to detail and a deep understanding of financial regulations and accounting principles.
What Usually Do in This Position?
Internal controls managers are responsible for designing, implementing, and maintaining internal control systems. This includes developing policies and procedures to ensure financial accuracy and compliance, identifying areas of risk and vulnerability, and recommending improvements to existing controls. They also monitor financial transactions and reports to ensure that they meet regulatory requirements and identify any potential issues or discrepancies.
Top 5 Skills for Position
- Strong analytical skills to identify and assess risks and develop effective control systems
- Excellent communication skills to effectively communicate with all levels of the organization
- Attention to detail to ensure accuracy in financial reporting
- Knowledge of accounting principles and financial regulations
- Ability to work independently and lead a team
How to Become this Type of Specialist
To become an internal controls manager, one typically needs a bachelor's degree in accounting, finance, or a related field. Many employers also require a Certified Public Accountant (CPA) certification or other relevant professional certifications. It is also important to gain experience in auditing, accounting, or finance to develop the necessary skills for this position.
Average Salary
According to Glassdoor, the average salary for an internal controls manager in the United States is $97,000 per year. However, salaries can vary depending on factors such as location, industry, and level of experience.
Roles and Types
Internal controls managers can work in a variety of industries, including finance, healthcare, and manufacturing. Some common roles for internal controls managers include internal auditor, compliance officer, and risk manager. Internal controls managers may also specialize in specific areas such as IT controls or financial controls.
Locations with the Most Popular Jobs in USA
According to Indeed, some of the top locations for internal controls manager jobs in the United States include New York, NY, Houston, TX, and Chicago, IL. However, this role can be found in many different cities across the country.
What are the Typical Tools
Internal controls managers typically use a variety of tools to perform their job duties. This may include financial software, audit management software, and compliance tracking tools. They may also use spreadsheets and other data analysis tools to analyze financial data and identify potential issues or areas for improvement.
In Conclusion
Internal controls managers play a critical role in ensuring that a company's financial operations are accurate, compliant, and secure. This role requires a strong understanding of financial regulations, accounting principles, and risk management. If you are interested in pursuing a career as an internal controls manager, it is important to gain experience in finance or accounting and to develop strong analytical and communication skills. With the right education and experience, you can pursue a rewarding career in this in-demand field.