The Director, Internal Control is responsible for developing a company-wide strategic and tactical plan for internal control compliance. The Director is responsible for managing, developing, directing, communicating, and analyzing internal control activities, internal control compliance, and internal control validation to ensure appropriateness and accuracy. Directs and monitors Company's internal control compliance function to ensure effectiveness of implemented controls, appropriateness of internal control design, accuracy of financial records, identification of fraud risks, adequacy of policies and procedures, and compliance with the Sarbanes Oxley Act (SOX) and PCAOB Standards.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
Maintains effective SOX compliance program covering all aspects of Company operations.
Manages documentation of Significant Business Cycles to ensure completeness and accuracy, including new process documentation as business functions and scope evolve. Assesses effectiveness and adequacy of the design and function of Control Activities. Uses professional judgement to identify and designate primary and secondary Control Activities based on risk of material financial misstatement and existence of fraud.
Manages SOX compliance management testing function. Ensures effectiveness of strategy, efficiency of procedures, and accuracy of test plan execution. Adjusts testing strategies as needed to support evolving business processes. Oversees testing performed by Internal Control staff, Accounting staff, and 3rd parties. Ensure that testing of primary control activities is timed to facilitate independent external audit work.
Coordinates the Internal Audit function with outsourced audit staff to provide assurance that transactions are properly recorded and in compliance with applicable laws, regulations, and accounting standards. Manages all internally conducted Internal Audit projects.
Ensures that Departmental activities support the company’s strategic focus and comply with management plans and policies.
Manages Internal Control staff and continually develops staff skill sets through leadership and mentoring. Ensure cross training of critical functions.
Ensures that Accounting systems and procedures are adequate to consistently provide timely, accurate information.
Ensures that effective internal controls are in place for Information Systems including those related to data integrity and data security. Maintain strategies to ensure IT generated reports relied upon for financial reporting are complete and accurate. Coordinate 3rd party compliance testing of the IT Business Cycle.
Analyzes data obtained for evidence of deficiencies in controls, duplication of effort, extravagance, fraud, or lack of compliance with laws, government regulations, and management policies or procedures.
Informs executive management of identified internal control issues, the potential impact and corrective action options. Assess significance of internal control deficiencies based on risk, identify compensating/complementary controls, and prepare reporting for the Audit Committee of the Board of Directors. Coordinate and collaborate with Business Cycle System Owners to develop effective remediation plans for control deficiencies.
Fosters strong relationships and open communication with Business Cycle System Owners and Area Vice Presidents to ensure that the business functions involve Internal Control proactively on significant potential issues.
Coordinates periodic evaluation of fraud risk factors. Evaluates results and prepares reporting for the Audit Committee of the Board of Directors.
Conducts or directs special studies such as those required to discover mechanics of detected fraud and to develop controls for fraud prevention.
Monitors and reviews new accounting standards and other guidance to ensure Company accounting policies and procedures are in accordance with Generally Accepted Accounting Principles. Use professional judgment to establish Hibbett accounting policies related to new and recently applicable accounting guidance. Document same in formal Position Papers.
Participates in Enterprise Risk Management Program including annual risk survey to establish the Top Tier risks, establishment of risk mitigation strategies and quarterly Risk Management meetings, as required.
As a member of the Accounting function, protects the Company’s assets and financial information by ensuring the accuracy and effectiveness of internal control procedures and informing management and/or appropriate officials of potential fraud risk.
Bachelor’s Degree (B.A.) in Accounting required, Master’s Degree (M.A.) preferred; five to ten years related experience and/or training; CPA required.