Financial Controls Manager

Mar 02, 2020

Department: Group Finance

Position Overview: Our client is a Bermuda based insurance group, operating across the Caribbean. This role will be responsible for establishing the Financial Reporting Controls Framework (FRCF) for the IFRS financial statements, statutory and tax reporting the Group and its subsidiaries. This primarily includes governance, FRCF methodology, preparation and documentation of financial controls processes, risk assessments, design and implementation of controls, plan and complete test of controls, and evaluating, reporting and resolving control deficiencies to ensure the design adequacy and operating effectiveness of financial reporting controls. The position will be based in Bermuda and report to the Chief Accounting Officer. Travel to subsidiary locations will be required for the role and will interact with people across the Group and get an excellent opportunity to build relations.

Reporting Relationships:

Reporting to: SVP, Chief Accounting Officer

Direct Reports: Not applicable

Primary Accountabilities and Responsibilities:

Ensure that the Group has established a sound system of controls over financial reporting to ensure reliable and timely financial information in monthly, quarterly and annual reports by:

  • Design, assess, implement and monitor a robust Financial Reporting Controls Framework (FRCF), governance and methodology.
  • Incorporate key considerations into the FRCF: mapping to the COSO internal controls framework; governance; programme management; materiality & tolerances; scope; implementation plan
  • Identify, assess, document and monitor business processes (including financial systems) that affect the Group’s financial reporting, including the use of process narratives & flowcharts
  • Lead, document and report on risk assessment of the business processes in respect of materiality & tolerances misstatements in financial reporting, including establishment of risk ratings for use in Group reporting
  • Develop Group policies for controls and control objectives for core financial reporting processes
  • Work with process owners to scope, design, and implement controls to address key risks and ensuring design adequacy and operating effectiveness of financial controls
  • Develop and implement the controls testing process, including conducting reviews and testing of financial reporting controls compliance by process owners along with monitoring and overseeing the remediation of deficiencies identified
  • Develop and deliver training and training materials for business process owners on a regular basis to build knowledge and understanding of risks and controls in the Group
  • Prepare and manage the ongoing quarterly and annual reporting process for the FRFC to senior management and the board
  • Actively seek uniformity and automation of controls across the Group through efficient use of financial systems and innovative technology to enhance and continuously improve the design and effectiveness of controls, including efficiencies in documentation, assessment, and testing of controls
  • Coordinate with internal and external auditors to ensure the effectiveness of the controls are tested and the resolution of any audit findings
  • Provide ad hoc reports and status on above responsibilities
  • Assist with risk management activities and reporting
  • Work on projects / initiatives as assigned
  • Work closely with stakeholders across functions in a fast-paced environment, able to provide solution to issues
  • Stay current on best practices and latest thinking regarding processes, risk management and controls
  • Ability to manage multiple projects and communicate with different cultures and levels within the organization

Skills & Experience:

  • Bachelor’s degree in accounting or finance
  • CPA, Chartered Accountant or equivalent
  • Auditing experience in a national public firm – Big 4 preferred
  • Understanding of accounting and financial processes including risk and financial controls
  • Ability to understand and apply Bermuda laws, regulations, and compliance requirements;
  • Assertive, clear and professional verbal and written communications
  • Strong interpersonal, collaborative & conflict resolution skill.
  • Ability to effectively design and present information to senior management
  • Ability to define problems, collect data, establish facts and draw conclusions
  • Agility and ability to work effectively both as part of a team and independently


Please forward a detailed resume in confidence to:

PricewaterhouseCoopers Executive Search


Tel: 441-295-2000

For further information on this job contact us at


Contact us

Alistair McNeish

Director, Human Resource Services, PwC Bermuda

Tel: +1 441 298 9708

Linda Holmes

Human capital consulting, PwC Bermuda

Tel: +1 441 298 9706

Lyndsay McCabe

Client Administrator, PwC Bermuda

Tel: +1 441 298 9705

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