Internal Controls Specialist - P2 at Sandvik

The Role

• The Internal Controls Specialist has the responsibility to implement and develop the internal control system of the organization and to ensure that the system reliably monitors the sufficiency of internal controls and provide assurance of compliance to internal and external requirements, including regulations, policies and processes, manages compliance risks and enhances standardization and efficiencies.

Internal Control Policies, Procedures and Processes

• Document processes from start to finish through the collaboration with subject matter experts.
• Design and execute the testing of internal controls and facilitate the related remediation for any control deficiencies identified.
• Develop presentations tailored to audiences at various levels and business functions to communicate internal control findings.
• Work closely with the Internal.
• controls manager on compliance risk monitoring plans and use a risk-based approach to design and implement internal controls to enable the company to monitor compliance to internal & external requirements, including regulations, policies and processes.
• Manage the internal Controls process for all South African entities and ensure that satisfactory effectiveness of controls as per group policy guidelines.
• Report on control failures and risk along with the gap remediation plans to improve controls to mitigate risks.
• Follow up on implementation of gap remediation plans.
• Test sufficiency of gap remediations.
• Work closely with all line managers in their respective departments regarding risk in their area.
• Follow up on findings and recommendations by both internal and external auditors regarding operational risk.

Internal Control Framework

• Design and implement appropriate controls to strengthen the control environment and mitigate company risks.
• Participate in cross functional groups to implement or enhance controls based on organizational transformations.
• Bring a systematic and disciplined approach to maintain the control environment.
• Promote and educate cross functional partners on the importance of internal controls.
• Provide general training and assistance to cross-divisional teams working in areas and/or processes that are subject to processes and procedures.
• Provide guidance to business areas in the design of new processes to ensure efficient and effective controls are built into their processes as the need arises.
• Implement and manage new internal controls management tool.

Internal Audits and Reviews

• Analyze processes to identify risks and control weaknesses.
• Recognize the impact of major external or internal changes to the control environment.
• Support the business and Internal Controls team in automating controls and testing where appropriate.
• Performing and monitoring process reviews, operational checklist audits, and standardized internal controls, ensuring compliance with company policies and procedures.
• Maintaining current knowledge of laws and regulations relating to Sandvik, Internal & External codes of compliance and IFRS/IAAS auditing requirements as they affect assigned functions.
• Collaborating with other internal and external auditors; ensuring cooperation and coordination of efforts.
• Building positive relationships across management at all levels to effectively deliver audit & control solutions and contribute directly to business success.
• Participate in process reviews and ad hoc projects as assigned.

Required Profile

• Grade 12 / Equivalent Qualification
• Bachelor’s degree in auditing & or Finance (NQF Level 7)
• 4 Years’ experience in audit and compliance with 2 years of that experience being internal auditing
• Certified Internal Auditor
• Advanced Computer literacy
• English proficiency
• Solid experience of flowcharting, documentation, and process mapping