Internal Controls Analyst Job Description [Updated for 2025]

In the modern business world, the role of the Internal Controls Analyst has become increasingly significant.

As businesses evolve and grow, so does the demand for proficient individuals capable of establishing, implementing, and monitoring internal controls to safeguard company resources.

But let’s delve deeper: What’s really expected from an Internal Controls Analyst?

Whether you are:

• A job seeker trying to understand the core of this role,
• A hiring manager seeking to define the perfect candidate,
• Or merely curious about the world of internal control analysis,

You’ve come to the right place.

Today, we present a flexible Internal Controls Analyst job description template, designed for easy publishing on job boards or career sites.

Let’s dive right in.

Internal Controls Analyst Duties and Responsibilities

Internal Controls Analysts play an essential role in ensuring that a company’s operations, financial reporting procedures, and compliance regulations are effective and efficient.

They focus on identifying, assessing, and minimizing risks that could potentially hinder a company’s financial success and operational integrity.

The typical duties and responsibilities of Internal Controls Analysts include:

• Performing regular evaluations of financial and operational procedures to ensure adherence to internal controls
• Identifying areas of financial and operational risks and implementing measures to mitigate these risks
• Assisting in the development and implementation of internal control policies and procedures
• Conducting audits to assess the effectiveness of internal controls
• Preparing and presenting reports on audit findings and proposed improvements to management
• Working closely with other departments to train and educate employees on internal controls and compliance procedures
• Assisting with regulatory compliance, including keeping up-to-date with relevant laws and regulations
• Contributing to the development of risk management strategies
• Participating in special projects related to internal controls and risk management as needed

 

Internal Controls Analyst Job Description Template

Job Brief

We are looking for a meticulous Internal Controls Analyst to oversee our company’s financial and operational procedures.

You will be responsible for identifying and reducing all business and financial risks through effective implementation and management of controls.

Your duties will include reviewing and analyzing our business procedures, conducting risk assessments and developing internal policies to mitigate risks.

You should have an analytical mind with a detailed understanding of risk assessment and control procedures.

 

Responsibilities

• Conduct assessments to define and analyze possible risks
• Evaluate the efficiency of controls and improve them continuously
• Develop internal policies to mitigate risks
• Collaborate with other departments to create coordinated risk management strategies
• Monitor all operations and design control systems to prevent errors in procedures
• Review existing policies and update according to new market trends
• Prepare reports and present to stakeholders on audit findings and recommended improvements.

 

Qualifications

• Proven experience as an Internal Controls Analyst or similar role
• Excellent knowledge of reporting procedures and record keeping
• Ability to work with numbers and analyze financial data
• Proficient in MS Office and familiarity with relevant software (e.g. SAP)
• Excellent communication and presentation skills
• A business acumen partnered with a dedication to legality
• BSc/BA in law, finance, business administration or related field
• Certified Public Accountant or Certified Internal Auditor is a plus

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Internal Controls Analyst
• Work Environment: Office setting with some opportunity for remote work. Some travel may be required for audits or team meetings.
• Reporting Structure: Reports to the Internal Controls Manager or Director of Internal Controls.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $68,000 minimum to $103,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does an Internal Controls Analyst Do?

An Internal Controls Analyst is a specialized financial professional who typically works for businesses across various sectors.

Their primary role is to ensure that the company’s operations and procedures adhere to both internal and external rules and regulations.

They often work closely with other finance and business professionals, such as auditors and financial analysts, to evaluate the efficacy of the internal control systems in place.

This includes assessing risk, reporting on control deficiencies and recommending improvements.

Internal Controls Analysts are responsible for developing and implementing testing methodologies for these control systems.

This involves reviewing financial reporting, analyzing operational data, and auditing business processes to identify any weaknesses or risks.

They also play a significant role in educating staff about control guidelines and procedures, and advising management on how to improve control measures.

Additionally, an Internal Controls Analyst might be involved in the preparation for external audits, ensuring the company is ready for scrutiny and in compliance with all relevant regulations.

Their job is not just to identify potential problems, but also to help design and enforce solutions that ensure the company operates effectively and efficiently, while minimizing the risk of financial mismanagement or fraud.

 

Internal Controls Analyst Qualifications and Skills

An Internal Controls Analyst possesses a unique blend of technical understanding, analytical skills, and business acumen.

The following are some of the essential qualifications and skills required for this role:

• Deep understanding of internal control principles and practices to ensure adherence to regulatory standards and prevent fraud.
• Strong analytical abilities to identify potential risks and develop solutions to mitigate them.
• Excellent communication skills to effectively interact with various stakeholders, including internal teams and external auditors.
• High attention to detail and organizational skills to handle multiple projects simultaneously, ensuring all deadlines are met.
• Proficiency in using various types of software such as data analysis tools, spreadsheet programs, and accounting software.
• Problem-solving skills to quickly and efficiently address any issues that arise in the internal control processes.
• Deep understanding of financial and accounting principles, and the ability to apply this knowledge in the analysis of control systems.
• Knowledge of regulatory standards, such as Sarbanes-Oxley Act (SOX), and the ability to ensure company-wide compliance.
• Ability to work collaboratively with diverse teams, including finance, IT, and operations to enhance controls and improve efficiency.

 

Internal Controls Analyst Experience Requirements

To qualify for the role of an Internal Controls Analyst, individuals should have at least 2 to 3 years of experience in relevant fields, such as auditing, accounting, or risk management.

This experience could be obtained through full-time employment, internships, or part-time roles.

Their experience should include familiarity with internal control frameworks and risk management principles, as well as an understanding of financial and operational processes.

Exposure to corporate governance and regulatory compliance is also typically required for these positions.

Candidates with more than 3 to 5 years of experience usually show a deeper understanding of internal control systems, process improvements, and regulatory compliance.

These professionals often have had the opportunity to manage projects and teams, and thus may be ready for senior-level roles within the internal controls or audit function.

Those with over 5 years of experience, and especially those with Certified Internal Auditor (CIA) or Certified Public Accountant (CPA) credentials, are often considered for leadership roles within the organization.

Their comprehensive experience, including in-depth knowledge of enterprise risk management, regulatory compliance, and financial reporting, make them ideal candidates for managing and directing the organization’s internal control initiatives.

 

Internal Controls Analyst Education and Training Requirements

An Internal Controls Analyst typically requires a bachelor’s degree in fields such as finance, accounting, business administration or a related field.

The role involves a deep understanding of financial and operational processes, hence knowledge in these areas is crucial.

Most employers prefer candidates with relevant work experience, often in auditing or financial analysis.

Therefore, internships or entry-level roles in these areas can provide valuable experience.

In addition, knowledge of regulatory standards and internal control frameworks such as COSO and COBIT is often required.

Therefore, taking relevant courses or certifications can be beneficial.

Professional certifications, while not always required, can provide a competitive edge.

These could include Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or Certified Information Systems Auditor (CISA).

Strong analytical skills, attention to detail, and knowledge of data analysis tools and software are often important in this role.

Ongoing education and training may be necessary to stay updated with changing regulations and standards in the field.

This could be through attending workshops, seminars, or furthering education with a master’s degree or other advanced qualifications.

 

Internal Controls Analyst Salary Expectations

An Internal Controls Analyst earns an average salary of $75,332 (USD) per year.

The actual compensation may vary based on their level of experience, the complexity of the work they are assigned, and the geographical location of their workplace.

 

Internal Controls Analyst Job Description FAQs

What skills does an Internal Controls Analyst need?

An Internal Controls Analyst should possess strong analytical skills, along with a good understanding of financial and operational processes.

They should have excellent attention to detail, ability to maintain accuracy, and a capacity for critical thinking.

Strong communication skills, both written and verbal, are also essential since they will often need to present their findings and work with various departments.

 

Do Internal Controls Analysts need a specific degree?

Generally, Internal Controls Analysts should have a bachelor’s degree in accounting, finance, business, or a related field.

Some employers may prefer candidates with a master’s degree or professional certifications such as Certified Internal Auditor (CIA) or Certified Public Accountant (CPA).

 

What should you look for in an Internal Controls Analyst’s resume?

On an Internal Controls Analyst’s resume, look for previous experience in auditing, risk management, or similar roles.

Also, note any mention of familiarity with regulations such as Sarbanes-Oxley or internal control frameworks like COSO.

Knowledge of accounting systems, databases, and IT infrastructure is a big plus.

Certifications like CPA, CIA, or CISA can also be indicators of a strong candidate.

 

What qualities make a good Internal Controls Analyst?

A good Internal Controls Analyst is highly analytical and detail-oriented, with a deep understanding of financial processes and regulations.

They should be independent thinkers, able to identify potential risks and propose solutions.

Excellent communication skills are also essential, as they will often need to explain complex findings to non-finance staff.

Lastly, they should have a strong ethical sense to ensure the integrity of the organization’s financial practices.

 

How challenging is it to hire an Internal Controls Analyst?

Hiring an Internal Controls Analyst can be challenging due to the specialized knowledge required for the role.

Finding a candidate who has the necessary analytical skills, familiarity with regulations, and excellent communication ability can be difficult.

Therefore, it’s advisable to have a rigorous selection process and offer competitive compensation to attract high-quality candidates.

 

Conclusion

And there you have it.

Today, we’ve unveiled the true essence of being an Internal Controls Analyst.

Surprising, isn’t it?

It’s not only about financial tracking.

It’s about ensuring the organization’s stability, one internal control at a time.

With our go-to Internal Controls Analyst job description template and real-world examples, you’re all set to accelerate your career.

But why stop there?

Explore further with our job description generator. It’s your essential tool for crafting precise job listings or fine-tuning your resume to stand out.

Remember:

Every internal control is a part of the company’s larger success.

Let’s build that success. Together.

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