Director of Internal Controls
TITLE: Director of Internal Controls NYSIF
WORK LOCATION: Albany or NYC
NEGOTIATING UNIT: Management/Confidential
JURISDICTIONAL CLASS: Non-Competitive
SALARY GRADE: M-3 ($94,609 - $119,555)
The New York State Insurance Fund (NYSIF) was established in 1914 as part of the original enactment of the New York Workers' Compensation Law. The Fund's mission is to guarantee the availability of workers' compensation insurance at the lowest possible cost to employers, while maintaining a solvent fund, as well as to provide timely and appropriate indemnity and medical payments to injured workers. NYSIF is a self-supporting insurance carrier that competes with private insurers in both the workers' compensation and disability benefits markets in New York State. With 160,000 policyholders, over $2 billion in annual premium and $17 billion of assets, NYSIF is the largest workers' compensation carrier in the state and among the top ten largest workers' compensation carriers in the nation. NYSIF provides disability benefits coverage for off-the-job injuries to more than 61,000 New York employers.
Bachelor’s degree in Accounting or Finance with either five years of professional, managerial experience in insurance accounting or auditing in an insurance company or similar financial services institution or five years of professional, managerial experience in an insurance company or similar financial services institution which must include three years of experience in the development/management of an internal control program, risk management program, or system control program. SOX evaluation and reporting familiarity/background highly desirable.
Also, two years of the overall experience must have included the supervision of staff. An MBA may substitute for one year of the non-supervisory experience. A Certified Public Accountant (CPA) or Certified Internal Auditor (CIA) designation may substitute for two years of the non-supervisory experience. Demonstrated collaborative style with strong oral and written communication skills.
The candidate in this position leads NYSIF’s Internal Controls evaluation activities.
- Communicates the results of the regular evaluation of Internal Controls to NYSIF’s Executive Management and the Board of Commissioners’ Budget and Audit Committee.
- Leads educational programs to formally communicate Internal Control evaluation processes and requirements to key management personnel and employees.
- Educates non-financial personnel on the meaning of significant controls over financial reporting (ICFR) and solicits their assistance and cooperation.
- Oversees the assessment of NYSIF’s Internal Controls, tests and documents relevant workflows and procedures for the presense of controls over transactional completeness, accuracy and relevance and makes recommendations for improvements.