Responsible for supporting management with the Bank’s compliance program for internal controls under the Sarbanes-Oxley (SOX) Act with a concentration in the information technology area. Works with process and control owners across the Bank to assist with documentation of systems, processes, risks and internal controls over financial reporting and disclosures. Responsible for working with management and process owners to ensure that a program is in place to address controls around reports and spreadsheets that support internal controls over financial reporting.
Assist with SOX scoping risk assessment: identify and document significant accounts, processes and systems/applications.
Coordinate and assist with updates to SOX documentation: system flows, process narratives, risk/control matrices; mapping of controls to financial statement assertions and evaluation of key versus non-key control coverage; mapping of controls to COSO framework; key reports inventory.
Assist in the identification of new controls related to system implementation projects and coordinate readiness controls reviews with Internal Audit to the extent there is an impact on internal controls over financial reporting.
Assess the impact of third party vendors on the bank’s SOX assessment.
Support walkthrough activities of external auditors and management assessment testers.
Supports the maintenance of financial and IT General controls that support SOX activities (process controls, entity level controls and related automated controls, key reports and spreadsheets, General IT Controls).
Maintain a good understanding of the IT systems supporting the entity and process level controls to leverage automated controls where applicable.
Maintain a dashboard of control deficiencies and remediation efforts, expected completion dates, etc.
Assist management in gathering information requests for operating effectiveness testing of key controls.
Work with management to ensure appropriate controls are in place to support the organizations efforts to comply with the requirements of sections 302 and 404 of The Sarbanes-Oxley Act (SOX) and third party assurance (TPA) reporting.
Education and Experience Requirements:
Bachelor’s degree in accounting, business, finance, or related field and a minimum of five (5) years of experience in public accounting, internal audit or related business experience with specific experience in information technology compliance or controls experience related to SOX and SOC2 activities. CPA, CISA, CIA or similar certification required.
Must possess knowledge of the Sarbanes-Oxley Act (SOX), PCAOB, SOC 2, ethics and compliance best practices. Must have the ability to articulate the need for appropriate controls. Must possess strong project management, communications and interpersonal skills. Must be a self-starter and willing to learn new things.
Internal Number: 2018-29
About Farm Credit Bank of Texas
If you are looking for a lender who understands agriculture and rural mortgage financing — one who has the capacity to finance the largest, most complex agribusiness operation — you have come to the right place.
Who We Are
Farm Credit Bank of Texas, headquartered in Austin, Texas, is a cooperatively owned wholesale bank with assets of $22.8 billion. We are part of the nationwide Farm Credit System, which was established by Congress in 1916 and has assets of $329.5 billion. Together with our affiliated lending cooperatives, we comprise the Texas Farm Credit District, the single largest rural lending network serving Alabama, Louisiana, Mississippi, New Mexico and Texas.
What We Do
We provide loan funds and services to 14 retail-lending co-ops and two Other Financing Institutions. These lenders make loans for rural real estate, agribusiness, and agricultural production. We also are active in the capital markets arena, participating in large-loan opportunities with the food, agribusiness, rural utility, and rural communications sectors.
Our mission is to enhance the quality of life in rural America by using cooperative principles to provide competitive cre...dit and superior service to our customers.
Our customers are our owners — 13 Agricultural Credit Associations (ACAs), which provide agricultural, agribusiness and rural mortgage financing; one Federal Land Credit Association (FLCA), which makes rural real estate loans; and two Other Financing Institutions (OFIs). These lenders in turn provide loans and financial services to farmers, ranchers, agribusiness firms, country homeowners, and other rural landowners—as well as to capital markets customers.
Our Source of Funds
We benefit from having a dependable source of competitively priced funding. Our funds come from the Federal Farm Credit Banks Funding Corporation, which sells Farm Credit System bonds and notes to investors in the nation's money markets. The Farm Credit System enjoys long-term debt ratings of AAA by Fitch Ratings, Aaa by Moody’s Investors Service and AA+ by Standard and Poor’s. These outstanding ratings align with the U.S. sovereign rating.
Our Management and Operations
The Farm Credit Bank of Texas is governed by a seven-member board of directors. Five directors are farmers or ranchers, who are elected by the customers of the 14 lending cooperatives that own the bank. Two directors are appointed by the elected board members. Our senior management team is accountable to the board of directors and works with the board to set the bank's direction, goals and strategies. We are regulated by the federal Farm Credit Administration, whose board is appointed by the President of the United States.