Principal Internal Controls & Compliance - Strategic Programs

Job Information

Salary Range: $98,800 - $165,100

The base salary range represents a good faith salary range for this position. This position is eligible for annual incentive pay and has the opportunity for continued salary growth. If you are hired at American Water your base salary compensation will be determined based on factors such as market, geography, skills, education and/or experience. At American Water, we are committed to pay equity. In addition to compensation, you will be offered a comprehensive benefits package including 401(k), Defined Contribution Plan, Employee Stock Purchase Plan, medical, prescription, dental and vision coverage, plus disability, paid time off, life insurance, voluntary benefits, health and wellness programs and much more! 

American Water is also proud to offer employees learning opportunities and work experiences to grow professionally!

Primary Role

The Principal, Internal Controls and Compliance role will be responsible for designing, implementing, and overseeing a robust internal control framework across key enterprise systems and business processes, with a primary focus on compliance with Sarbanes-Oxley Act (SOX).   This role will play a critical part in the Company’s business transformation within the American Water2030 (AW2030) program, ensuring that governance, risk and compliance requirements are embedded throughout the project lifecycle – from assessment of system solutions and control design, through post-implementation. This role ensures strategic alignment of controls and compliance between value streams and from an overall enterprise perspective.  Key requirements include:

• Directs the end-to-end design of internal controls (business and IT) across key enterprise systems and initiatives.
• Ensure controls requirements and alignment between business processes, value stream outcomes, and enterprise objectives.
• Guide AW2030 team members to maintain consistency with controls related design thinking
• Partner with value stream leaders, Subject Matter Advisors (SMAs) and third-party firms to align on controls and compliance requirements throughout the different phases of the project.
• Validate and govern key controls design, documentation, and implementation
• Participate in technology and solution architecture discussions to ensure controls requirements are confirmed and aligned.
• Leadership & Cross-functional collaboration for process optimization

Key Accountabilities

• Lead the end-to-end design and implementation of internal controls over financial reporting (ICFR) in alignment with the COSO framework and compliance with SOX.
• Partner with relevant business owners, IT governance and third-party consultants to develop an updated Risk Control Matrices (RCMs), process narratives, and flowcharts for key business cycles
• Ensure governance, risk and compliance requirements are addressed early in the system implementation lifecycle, including controls around data migration, system access, and automated workflows.
• Lead control assessments for new system capabilities and ensure alignment with financial reporting and regulatory requirements.
• Leads and provides expertise on the transformation of manual processes into automated controls to enhance efficiency and reduce risk.
• Develop strong relationships with business and IT process owners and act as a subject matter expert in the design and implementation of controls
• Lead walkthroughs, re-performance testing, and inquiries to assess control effectiveness.
• Track and report control deficiencies, develop remediation plans, and ensure timely resolution.
• Ensure business owners maintain audit-ready documentation and evidence of control execution.
• Collaborate with IT teams to design and validate ITGCs, including access management, change management, system interfaces, and data integrity controls
• Oversee the implementation of controls around ERP system cutover, data reconciliation, and post-go-live monitoring
• Collaborate with Business and IT SOX control owners to ensure appropriate control training has been completed
• Serve as the primary liaison with external/internal auditors for SOX testing and to resolve and manage potential control issues
• Develop and manage clear communication protocols with the Controller’s Department and IT Governance teams on project status and issue resolution. 
• Participate in special projects and initiatives upon management request, including those that would optimize the effectiveness of existing business applications, technologies and systems and build efficiencies/improvements into current business processes
• Supervised financial operations, ensuring compliance with internal controls and external audit requirements.

Knowledge/Skills

• Strong knowledge of auditing, internal controls, risk assessment and SOX related activities
• Strong written and oral communication skills with proven ability to interact effectively with internal stakeholders, management and external professionals (i.e. auditors)
• Technical accounting skills and knowledge of U.S. GAAP, SEC Reporting and regulatory practices
• Full, end-to-end ownership of assignments including, proactively engaging appropriate members to jointly resolve issues and communicate results
• Excellent analytical and problem-solving skills
• Strong interpersonal skills, with an emphasis on initiative, knowledge sharing, team building and decision making
• Prior experience working with SAP S/4 HANA a plus

Experience/Education

• Bachelor's Degree in Accounting or Finance required.
• CPA preferred; CIA or CISA a plus
• -12+ years of relevant accounting or auditing experience required.
• Prior public accounting and/or internal audit experience a strong preference.
• Prior experience working in the utility industry and knowledge of plant/regulatory accounting a plus.

Competencies