What's Happening?
Ernst & Young U.S. LLP is actively recruiting for a Manager in Financial Services Organization (FSO) Consulting, specifically within Risk Consulting, focusing on Internal Audit, Process, and Controls for the Insurance sector in New York, NY. This role
involves providing comprehensive risk services, including strategic, outsourcing, and operational recommendations to help companies evaluate and enhance their internal audit and risk management functions. The manager will be responsible for planning, leading, and performing internal audit and Sarbanes-Oxley (SOX) 404 procedures, identifying key risks in potential investments, and devising systems to monitor risk modeling outputs. The position requires a bachelor's degree and 5 years of progressive post-baccalaureate work experience, or a master's degree and 4 years of work experience, with specific experience in MS Office, public accounting, professional services, or industry, and the insurance sector. Candidates must also have experience with COSO, Internal Controls, SOX, or Internal Audit, and financial services experience. The base salary for this role is $141,066.00 per year.
Why It's Important?
This hiring initiative by Ernst & Young underscores the ongoing demand for specialized risk management and compliance expertise within the U.S. financial services sector, particularly in insurance. The emphasis on Sarbanes-Oxley (SOX) 404 procedures highlights the continued regulatory scrutiny and the need for robust internal controls to ensure financial reporting accuracy and prevent fraud. For the insurance industry, effective risk management is crucial for maintaining solvency, protecting policyholders, and navigating complex market dynamics. The role's focus on evaluating and enhancing internal audit functions directly impacts the integrity and stability of financial institutions. The requirement for certifications like CPA, CA, CIA, CMA, CRISC, or CISA within one year of hire reflects the industry's commitment to professional standards and continuous development, ensuring that financial services firms are equipped with highly qualified personnel to manage intricate risk landscapes. This recruitment effort also signals a healthy job market for skilled professionals in financial risk and compliance.
What's Next?
Ernst & Young is accepting applications for this position on an ongoing basis, indicating a continuous need for qualified professionals in risk consulting. Successful candidates will be expected to obtain relevant certifications such as CPA, CA, CIA, CMA, CRISC, or CISA within one year of hire, which will further enhance their professional standing and the firm's capabilities. The role involves significant domestic travel, up to 50%, to meet client needs, suggesting that the selected manager will be actively engaged with various clients across the U.S. The firm's hybrid work model, which expects client-serving roles to work in-person 40-60% of the time, indicates a blend of remote and on-site collaboration. This approach aims to balance flexibility with the need for direct client interaction and team cohesion. The continuous recruitment for such specialized roles suggests that the demand for risk and compliance services in the financial sector will remain strong, driven by evolving regulatory requirements and market complexities.
Beyond the Headlines
The persistent demand for risk consulting managers, particularly those with expertise in internal audit and SOX compliance within the insurance sector, reflects a broader trend of increasing complexity in financial regulations and corporate governance. Beyond mere compliance, these roles are critical for fostering a culture of transparency and accountability within organizations. The emphasis on identifying key risks in potential investments and monitoring risk modeling outputs points to the sophisticated analytical skills required to navigate modern financial markets. This also highlights the growing reliance on data-driven insights and advanced methodologies in risk management. The need for professionals who can provide strategic, outsourcing, and operational recommendations suggests that firms are seeking holistic solutions to their risk challenges, moving beyond reactive measures to proactive risk mitigation strategies. This trend is likely to continue, driving further innovation in risk management practices and demanding a highly skilled workforce capable of adapting to new challenges.
