Internal Controls Associate- MSI

Overview

This role supports and enhances the organization’s overall internal control environment across business operations, technology platforms, financial reporting, information security, regulatory compliance, and risk management. Responsibilities include evaluating the design and effectiveness of controls, documenting key processes and procedures, maintaining evidence of control performance, and collaborating with business and technology teams to identify, assess, and mitigate risks.

The Internal Controls Associate also assists with internal audits, operational reviews, control testing and/or execution, remediation efforts, and compliance initiatives related to applicable laws, regulations, industry standards, and contractual obligations. Support may include Sarbanes-Oxley (SOX), privacy regulations, cybersecurity requirements, insurance industry regulations, and other governance, risk, and compliance obligations as applicable.

Responsibilities

Internal Control Program Administration

• Assist in the design, implementation, maintenance, and continuous improvement of the organization’s internal control framework.
• Document and maintain policies, procedures, process flows, risk and control matrices (RCMs), and control narratives in alignment with COSO principles.
• Ensure controls are appropriately designed to mitigate identified business, operational, financial, compliance, and technology risks.

Risk Assessment and Control Design

• Perform periodic risk assessments across business and technology functions.
• Identify control gaps, emerging risks, and process inefficiencies.
• Develop and recommend risk mitigation strategies and control enhancements.
• Support enterprise risk management and compliance initiatives.

Control Testing and Monitoring

• Develop and execute control testing procedures to evaluate control design and operating effectiveness.
• Analyze testing results, identify deficiencies, and track remediation activities.
• Maintain evidence supporting control execution and effectiveness.
• Monitor key controls through continuous auditing and data analytics techniques where applicable.

Regulatory and Compliance Support

• Support compliance with applicable regulations, standards, and contractual obligations, including:
  • Sarbanes-Oxley (SOX)
  • State insurance regulations
  • Privacy regulations (CCPA, CPRA, GDPR, etc.)
  • Cybersecurity and information security requirements
  • SOC reporting, PCI DSS, and other industry-specific frameworks as applicable
• Assist in preparing regulatory examinations, audits, and compliance assessments.

Audit Coordination and Management

• Serve as a primary liaison for Internal Audit and external auditors.
• Coordinate audit requests and facilitate walkthroughs, interviews, and evidence collection.
• Respond to audit inquiries and support remediation efforts.
• Track audit findings and ensure corrective actions are implemented timely.

Operational and Business Process Reviews

• Evaluate operational processes to identify risks, inefficiencies, and control weaknesses.
• Conduct special reviews and investigations relating to control failures, incidents, or identified concerns.
• Participate in assessments related to fraud prevention, business continuity, vendor management, and cybersecurity.

Reporting and Stakeholder Engagement

• Prepare clear, concise, and audit-ready reports summarizing risks, control effectiveness, and recommendations.
• Communicate findings and corrective action plans to business and technology leadership.
• Escalate significant issues and emerging risks appropriately.
• Present control-related information to management committees and stakeholders.

Continuous Improvement

• Identify opportunities to enhance operational efficiency, governance, and compliance processes.
• Assist in developing metrics, dashboards, and reporting to monitor control effectiveness.
• Promote a culture of accountability, risk awareness, and strong internal controls throughout the organization.
• Stay informed on regulatory changes, emerging risks, and industry best practices affecting the insurance sector.

Other Duties

• Support control, audit, risk management, governance, compliance, and operational initiatives as assigned by Internal Controls leadership.
• Perform additional control-related activities necessary to maintain an effective enterprise-wide control environment.

Requirements

• Bachelor’s degree in accounting, Finance or Tech preferred
• 1-2 years of experience in internal controls, external or internal audit positions
• Demonstrated ability to consistently deliver on commitments and manage competing priorities
• Strong organizational, planning, and project management skills
• Sound professional judgment and risk-based decision-making capabilities
• Exceptional attention to detail and analytical thinking
• Strong written and verbal communication skills
• Ability to work independently with minimal supervision
• Demonstrated accountability, ownership, and follow-through
• Strong listening skills and openness to coaching and feedback
• Ability to quickly learn new systems, regulations, and business processes
• Proven ability to build effective working relationships and influence stakeholders
• Must demonstrate the organization’s core values, with behavior aligned to the firm’s culture

Preferred Qualifications

• Big four or banking experience is a plus

Special Working Conditions

• Fast-paced, multi-tasking and agile environment
• Must be able to interact effectively with various levels of management both inside and outside the organization

Compensation & Benefits

Not specified in the provided job description.