Internal Control Over Financial Reporting Consultant

Inter-American Development Bank

Washington DC, United States of America

Experience: 5 to 10 Years

Skill Required: Accounts and Finance

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 you’ll 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 Consultant’s 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 you’ll need: 


  • Master degree in accounting.  CPA or national public accounting in one of IDB Invest’s member countries. CIA, CRISC, CMA, CFM, or accounting and COSO internal control certification is preferable.


  • 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.


  • oral and written proficiency in English and Spanish required; knowledge of Portuguese is a plus.