Position Summary
In Korea, starting in 2023, the external audit on Internal Control over Financial Reporting (ICFR) at the consolidated level will become mandatory due to the revisions to the External Audit Act and the development of Korean Sarbanes Oxley, which is a close adaptation of US-SOX. To comply with the K-SOX regulation in 2023, SEC’s overseas subsidiaries have implemented internal controls with the HQ guidance in 2022. Starting from 2023, the test of design and operating effectiveness of the implemented ICFR will be conducted. This role incharge of conducting ICFR tests of overseas subsidiaries and coordinate with external audits in support of testing(~16 subsidiaries)
Role and Responsibilities
Role :
- The position is an experienced hire position for a mixture of routine audit reporting and adhoc project management duties
- ICFR related duties :
- Design & Operating Effectiveness Testing of ICFR
- Conduct design/operating effectiveness testing of ICFR, manage test status and validation by RHQ, and report test results to RHQ Head of Mgmt, HQ Internal Control Group for all 13 Subsidiaries under APAC
- Regular Check-ups besides ICFR Testing and Deficiency Remediation
- Report the result of ICFR tests, develop and execute remediation plans for control deficiencies, and determine the adequacy of mitigating controls of RHQ subsidiaries
- Working with External Auditors
- Coordinate and support external audit process partnering with subsidiaries and the external service provider and play a leading role in ensuring smooth operation of RHQ subsidiaries’ ICFR audits
- Management of Risk Control Matrices (RCM)
- Review subsidiaries’ RCM to determine controls that need to remain as key controls, or need to be combined, removed, and/or improved suggestion for improvements to HQ
- Review and approve subsidiaries’ proposals of modifying or implementing new control(s) (HQ’s consent will be required
- Training
- Provide periodic training to ICFR-related personnel in each subsidiaries,
- Risk Management related duties :
- Consolidate and inquire entities PIC on exceptions and results noted for monthly, quarterly and half yearly reporting. Information under review will include financial reconciliations such as cash, inventories, AR and AP, operational exceptions specific to Samsung operations and review of internal policies/standard operating procedures adopted by HQ
- Working with external auditors to coordinate and support external audit process partnering with subsidiaries and play a leading role in ensuring smooth operation of countries reporting to this region
- Navigate through multiple systems as required in performing day to day tasks. Download data and share with overseas country using SAP
- Perform adhoc process review on regional Audit projects may be performed remotely or overseas depending on the task
Skills and Qualifications
Culture Fit & Behavioral Competencies:
- Able to navigates through Globally Complex Organization. Samsung Electronics organization is large, complex, and fast-moving. The individual must move quickly in this environment while producing great work and building relationships.
- Passion and Energy: Work with passion for ideas and energy
- Intellectual Curiosity/Continuous Learner: Able to learn new approaches and embrace new ideas rather than reverting to the old and proven.
- Strong Personal Communicator: Possesses excellent communication skills; an active listener and presenter who can articulate vision and goals with clarity and passion.
Global Collaboration: Ability to collaborate effectively across business units, geographies, and cultures. May require frequent business trips and in some cases, extended business trips to overseas within South East Asia and Oceania
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