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Director or Sr. Director of SOX and IA

South San Francisco, CA 94080

Posted: 09/01/2023 Employment Type: Direct Hire Job Number: 385069

Job Description

Director of Internal Audit and SOX        
Our client develops life-changing medicines for patients using advanced structure-based and computational drug discovery technology. The company’s platform combines the latest advancements in visualization of molecular interactions, computational chemistry, and data integration to design orally available, superior small molecule medicines that overcome current limitations of biologic and peptide drugs. They are advancing a clinical-stage pipeline of differentiated treatments focused on chronic diseases with high unmet need, including cardiovascular, metabolic, and pulmonary conditions.

LOCATION: South San Francisco, CA. Hybrid.  1 - 2 days per week.

Position Summary
As the Director of Internal Controls and SOX Compliance, you are responsible for managing the SOX (Sarbanes-Oxley) program and internal control reviews by collaborating cross-functionally reporting to the CFO and working under a co-sourcing/ outsourcing model, you will play a crucial role in managing the assessment, reporting and disclosure of all key controls and deficiencies across the organization and working with the business to ensure the controls are in compliance with regulatory requirements and corporate policies and procedures. For the fiscal year ended December 31, 2023, you will manage the remediation of the company’s current Material Weaknesses and SOX Compliance from the fiscal year ended December 31, 2023.

Essential Duties and responsibilities

Develop, Implement and manage effective SOX Compliance and Internal Control Assessment Strategy:
  • Collaborate with stakeholders to perform risk assessment activities for the scoping of SOX, internal audits and/or special reviews
  • Design, execute and manage a comprehensive internal control framework with a financial compliance mindset across end-to-end business processes
  • Ensure alignment of the SOX program to industry best practices and regulatory requirements for business processes and IT controls
  • Coordinate and perform SOX testing, including the testing of key business process controls, IT general controls, IT application controls and key reports
  • Perform special reviews on business processes, IT systems and/or other compliance initiatives as needed
  • Evaluate internal controls, identify gaps, and work with control owners to recommend and implement remediation strategies
  • Partner with third party vendors currently used in SOX compliance assessment effort
  • Partner with external auditors in SOX compliance assessment effort
Manage SOX Compliance Program, Internal Control Review Activities and Enterprise Risk Assessment:
  • Collaborate with cross-functional teams and control owners to establish SOX compliance objectives, milestones, and action plans to meet the requirements
  • Partner with control owners in developing and documenting effective internal control procedures for key business processes and IT systems in scope for SOX
  • Manage tracking of SOX control documentation preparation and updates as well as audit PBCs by working with the control owners and co-sourcing/ outsourcing consultants
  • Review internal controls to identify control weaknesses or opportunities for improvement and collaborate with control owners to evaluate financial reporting impact as well as identifying mitigating/ compensating controls  
  • Track control owner’s remediation effort to ensure accuracy and reliability of financial reporting and for operational purposes
  • Lead effort to perform Enterprise Risk Assessment
  • Manage the quarterly SOX sub-certification/ disclosure process
  • Provide Guidance and Support to Control Owners Collaborate with control owners across various functions to assess control needs, define control objectives, and ensure controls are designed to mitigate identified risks
  • Support control owners in understanding and documenting their processes, risks, and control activities
  • Provide expertise and guidance in the design and implementation of effective controls to address the relevant business and IT risks including meeting SOX compliance requirements
  • Develop and deliver training programs to educate control owners and employees on SOX compliance requirements, internal control principles, and their responsibilities
  • Foster a culture of control awareness and compliance throughout the organization
  • Stay updated on evolving SOX requirements, emerging risks, and industry trends to provide proactive guidance, and recommendations, and drive continuous improvement
Reporting and Stakeholder Management:
  • Prepare and present regular reports to executive management, the Audit Committee, and the Board of Directors on SOX compliance status and results or as needed for special internal control projects
  • Collaborate with external auditors during annual financial statement audits and SOX-related audits and ensuring timely completion of deliverables and effective communications
Core Competencies, Knowledge, and Skill Requirements
  • Strong knowledge of SOX compliance requirements, internal controls, risk management principles, business processes, and IT systems
  • Demonstrated experience in designing and implementing SOX compliance programs, as well as identifying, documenting, and testing internal controls
  • Proven ability to work with cross-functional teams, control owners, and external auditors
  • Excellent communication, leadership, stakeholder management, and collaboration skills
  • Knowledge of NetSuite, cloud operations and Audit Board preferred

  • Bachelor's degree in Accounting, Finance, or a related field
  • Minimum of 8+ years in SOX compliance, internal auditing, internal controls, or related roles, preferably within the biotech, pharmaceutical, or healthcare industries
Licenses or Certifications
  •  CPA or relevant professional certification preferred
Determining compensation for this role (and others) at Vaco depends upon a wide array of factors including but not limited to the individual’s skill sets, experience and training, licensure and certifications, office location and other geographic considerations, as well as other business and organizational needs. With that said, as required by local law, Vaco believes that the following salary range reasonably estimates the base compensation for an individual hired into this position in geographies that require salary range disclosure: $175,000-$250,000. The individual may also be eligible for discretionary bonuses. 
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