Note: The job is a remote job and is open to candidates in USA. Coastal is a modern banking and Banking-as-a-Service company that supports individuals and businesses through financial infrastructure and fintech enablement. The Financial Controls Reporting Specialist will support the Partner Internal Controls over Financial Reporting program by documenting partner controls, performing targeted alternative control testing, evaluating evidence, documenting exceptions, and supporting the resolution of control gaps.
Responsibilities
- Obtain and document partner controls relevant to Coastal’s ICFR requirements and map those controls to Coastal’s Partner ICFR Framework
- Maintain partner ICFR control inventories, alternative control testing documentation, gap tracking, and supporting evidence
- Receive identified control or assurance gaps from Financial Controls, Coastal’s partner risk function, or other responsible teams and determine the specific partner control or control objective requiring targeted testing
- Develop and perform targeted alternative testing procedures consistent with Coastal’s approved methodology and the specific financial reporting risk identified
- Perform targeted testing of identified CUEC gaps; this role does not independently determine CUEC applicability or identify CUEC coverage gaps
- Perform walkthroughs of specific controls subject to testing, as needed, to understand control design and how the control operates in practice
- Obtain and evaluate evidence supporting the design and operating effectiveness of the specific controls being tested, including validating testing populations and sample selections when required
- Prepare testing workpapers documenting the control tested, period and population covered, evidence reviewed, testing attributes, results, exceptions, resolution of exceptions, and preliminary conclusions
- Identify control deficiencies, missing evidence, testing exceptions, or insufficient support encountered during testing and escalate concerns to the Fintech Financial Controls Manager
- Track remediation of testing exceptions and perform follow-up testing as assigned
- Support the Fintech Financial Controls Manager in evaluating whether targeted testing adequately addresses the identified control or assurance gap
- Coordinate with Coastal’s Partner Risk and Internal Control testing team when SOC, ITGC, CUEC, transaction, or account-level testing matters require additional assessment or support
- Communicate testing status, exceptions, remediation progress, and potential financial reporting impacts to the Fintech Financial Controls Manager and assist with management and audit reporting as requested
Skills
- Strong understanding of internal controls over financial reporting and control testing concepts
- Working knowledge of SOX, ICFR, and the COSO framework
- Working knowledge of SOC 1 and SOC 2 reports, Complementary User Entity Controls (CUECs), IT General Controls (ITGCs), and business process controls sufficient to understand and test identified assurance gaps
- Ability to translate an identified control or assurance gap into practical, risk-based testing procedures
- Experience performing internal control testing, including evidence evaluation, sample-based testing where applicable, exception analysis, and workpaper documentation
- Ability to distinguish between missing controls, missing evidence, missing testing, and missing audit coverage
- Strong analytical skills with the ability to evaluate evidence, identify control issues, assess potential financial reporting impact, and develop supportable preliminary conclusions
- Strong written and verbal communication skills with the ability to work effectively with BaaS/Fintech partners, Financial Controls, Risk, testing teams, management, and auditors
- Ability to independently manage multiple partner control assessments and testing assignments within established timelines
- Strong attention to detail and proficiency with Microsoft Excel, Word, Outlook, and other tools used to document and perform control testing
- Bachelor's Degree and/or equivalent combination of education and relevant experience
- 5+ years of relevant experience in Internal Controls, SOX/ICFR, Internal Audit, public accounting, financial controls, risk management, or related control testing functions
- While performing the duties of this job, the employee must be able to:
- Sit for extended periods of time
- Stand for extended periods of time
- Perform repetitive finger, hand, and arm movement
- Use electronic office equipment such as a computer keyboard, mouse, ten key, telephone, etc
- View and read computer screens for extended periods
- Occasionally stoop, kneel, crouch, or crawl
- Occasionally lift or move up to 10 pounds
- Experience performing business process control testing, alternative control procedures, or other risk-based internal control testing preferred
- Experience working with SOC reports, CUEC assessments, or ITGC audit results as inputs to internal control testing preferred
- Fintech, Banking as a Service, financial services, or banking experience preferred
- Working knowledge of GAAP and financial reporting concepts preferred
Benefits
- Choose from three competitive medical plans to find the coverage that best fits your needs and lifestyle.
- Health Savings Account (HSA): Available with eligible medical plans, offering tax advantages and employer contributions.
- Flexible Spending Accounts (FSA): Options for healthcare and dependent care expenses to help you save on out-of-pocket costs.
- Dental and Vision Insurance: Plans to keep you and your family smiling and seeing clearly.
- Life Insurance: Company-paid basic life insurance with options to purchase additional coverage for yourself and your dependents.
- Long-Term /Short-Term Disability (LTD): Income protection in the event of a long-term illness or injury.
- Supplemental Benefits: Including Hospital Indemnity, Accident Insurance, and Critical Illness coverage to provide extra financial support when you need it most.
- 401(k) Retirement Plan: A competitive retirement savings plan with company matching to help you plan for the future.
- Paid Time Off: Generous vacation and sick leave policies to support your time away from work.
- Holidays: Enjoy 11 paid holidays throughout the year.
Company Overview