| Location | Washington D.C., DC |
Job Description
Apply now
Start applying with LinkedIn
Apply Now
StartPlease wait...
IDB Invest - Internal Control Over Financial Reporting Consultant
City Washington DC
Company IDB Invest
Posting End Date 7202026 1159 PM EST
We improve lives
IDB Invest is the private sector arm of the IDB Group and an international financial institution committed to addressing the development needs of Latin America and the Caribbean. Our mission is to support sustainable enterprises and projects that deliver financial results while maximizing social and environmental impact in the region.
IDB Invest operates in 26 countries structured across four geographic regions and three industry verticals Infrastructure and Energy Financial Intermediaries and Corporates. In support of a new transformative business model Originate to Share" our shareholders recently approved a 3.5 billion capitalization. This will allow IDB Invest to significantly scale up its investments to approximately 19 billion and unlocking greater private sector participation to drive development and climate impact across the region.
About this position
The Financial and Operational Risk Division of IDB Invest is looking for a professional with a strong risk management background specifically in internal control over financial reporting management to support IDB Invest management to deploy the operational risk and internal control management framework and improve and monitor internal controls in IDB Invest.
The Financial and Operational Risk Management Division part of the Risk Management Department manages financial and operational risks of IDB Invest. The Division is divided into four main groups
Portfolio Management responsible for overseeing the growth of the portfolio considering concentrations and other risk parameters providing portfolio risk guidance to the business areas managing portfolio limits RAROC Economic Capital Risk Management MIS reporting and limit controls and quarterly calculation of provisions under the CECL.
Market Risk responsible for the design implementation update and ongoing execution of the Market Risk and Asset and Liability Management framework. The team identifies quantifies and monitors interest rate risk and foreign exchange risk of the balance sheet and the price risk of the liquid investment portfolio. This group is also responsible for counterparty credit risk management.
Model Risk and Capital Adequacy responsible for the internal economic capital models rating agencies models and the model governance framework including model validation.
Operational Risk Management responsible for assessing and maintaining an appropriate internal control environment developing and managing a full operational risk and ICFR frameworks as a second line of defense.
What youll do
The candidate will support the activities related to the implementation maintenance and monitoring of the internal control over financial reporting methodology in IDB Invest. The Consultants main activities will consist of
Evaluate the design and effectiveness of business controls to mitigate operational risk and financial reporting misstatement.
Provide support on the identification assessment treatment monitoring and reporting of operational and financial misstatement risks within IDB Invest processes.
Identify deviation from US GAAP U.S. Generally Accepted Accounting Principles and/or Bank policies and procedures and recommend corrective action.
Identify document and update entity level controls and relevant financial reporting assertions and collaborate with process owners to ensure key controls are operating effectively.
Review the business procedures to identify gaps control deviations and improvements and monitor action plan implementation.
Provide support in the risk and internal control assessments in IDB Invest processes and systems during the year.
Register monitor and report periodically financial misstatement risk incidents and key risk indicators regarding IDB Invest processes and systems.
Provide training and awareness regarding internal control and operational risk matters.
Provide assistance for any additional task associated with the implementation of the operational risk and internal control framework.
What youll need
Education
Masters degree or equivalent advanced degree in in accounting or other fields relevant to the responsibilities of the role. CPA or national public accounting in one of IDB Invests member countries. CIA CRISC CMA CFM or accounting and COSO internal control certification is preferable.
Experience
At least 5 years of relevant professional experience in financial and accounting auditing and risk management at a peer institution regulatory agency financial services provider or international firm.
Experience in financial reporting evaluating internal controls under US GAAP.
Experience with Audit Compliance Risk and accounting and audit Standards such as GAAS ISA AS and COSO framework.
Developing and implementing internal control over financial reporting programs as second line of defense.
Evaluating the design and effectiveness of accounting financial and business controls.
Implementing best practices and standards about internal control evaluation over financial reporting.
Experience working with large datasets database and data analytics tools and providing risk training.
Languages
Proficiency in Spanish and English spoken and written is required. Additional knowledge of French and Portuguese is preferable.
Requirements
Citizenship No requirements
Consanguinity You have no family members up to the fourth degree of consanguinity and second degree of affinity including spouse working at the IDB IDB Invest or IDB Lab.
Type of contract and duration nternational consultant Full-Time 36 months up to 48 months if applicable.
What we offer
The IDB group provides benefits that respond to the different needs and moments of an employees life. These benefits include
Our culture
At the IDB Group we work so everyone brings their best and authentic selves to work while finding their purpose. Our people consistently strive for excellence and we recognize and celebrate the impact of their contributions.
In our efforts to drive innovation we intentionally include all voices cultivate a sense of belonging and champion fairness. We welcome individuals from underrepresented groups to join us and share their unique perspectives.
We ensure that individuals with disabilities are provided reasonable accommodations to participate in the job interview process. If you require an accommodation to complete this application please email us at accommodations@iadb.org.
IDB Invest
Apply now
Start applying with LinkedIn
Apply Now
StartPlease wait...