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AVP , Internal Audit , Controls

Job ID: R-005094 Date posted: 11/19/2018 Primary Location CA-San Diego Other Locations SC-Fort Mill

LPL Financial is seeking an experienced audit professional to lead our Controls Testing Program (CTP) and other projects as assigned.  You will have a unique view of LPL Financial, its businesses and the supporting technology, with a lens into all aspects of the audit process, in particular the CTP. In addition, you will have the opportunity to work closely with the Chief Audit Executive, business and the Internal Audit team.  You will be an integral part of the Internal Audit team.  The ideal candidate will have hands-on experience identifying and evaluating financial, operational and technology risks, evaluating the design of internal controls, and managing a program that assesses the effectiveness of Internal Controls for SOX, SEC 17a-5, SOC 1 and FICCA. In addition, the candidate should be detail-oriented and have the skills necessary to influence people in a fast-paced, and highly regulated company.


Responsible for the development and execution of the company’s Control Testing Program (CTP) department-wide initiatives to drive excellence and continuous improvement in department programs, processes and employee development while ensuring adherence to industry standards and best practices. In this lead role, individual will have a strong knowledge of the Institute of Internal Audits (IIA) Professional Practices Framework to which our audit methodology is aligned as well as Sarbanes-Oxley requirements and controls frameworks. Individual will provide input into strategy setting and policy development impacting Internal Audit and Financial Controls while proactively monitoring IIA requirements, guidance and pronouncements.


The AVP, Controls will report to the EVP, Chief Audit Executive. This position is responsible for coordinating the Company’s CTP and will also assist in other internal audit activities. CTP activities will include, but not limited to: performing walkthroughs, creating and updating process narratives, flowcharts and risk and control matrixes, control testing, providing control updates to senior management and the Director of Internal Audit, documenting management action plans and providing recommendations to process owners on how to improve their controls and governance processes. This position will also liaise with external auditors, as required.

  • Manage the planning, scoping, and execution of the Control Report Testing Program including annual Financial Statement Risk Assessment (SOX), ongoing review of control effectiveness coverage to meet objectives of SOC 1 and FICCA. Lead the analysis and review of key internal control procedures, risk and control matrixes, and test plans.
  • Refine/drive continuous improvement in the internal controls self-assessment program to determine quarterly and annual compliance with key SOX sections (302, 404, etc.).  Assist with continuous improvement in controls testing through risk assessment, controls rationalization and optimization
  • Serve as a liaison between the Company's business owners and external auditors and support external auditor's testing.
  • Lead and facilitate interactions among business owners as they work to implement control improvements and corrective actions.
  • Determine the root cause of deficiencies, and assist management with the development of remediation plans. Document and maintain the policies and procedures in place to complete the CTP.
  • Verify that the CTP testing and reporting is executed in accordance with department and professional standards and completed timely. Track control testing and failures and follow-up with process owner to ascertain timely remediation.
  • Assist staff in the identification, validation, and effective communication of deficiencies
  • Provide regular updates to senior management highlighting when control activities are revised and improved.
  • Monitor changes in the business which might affect the Company’s entity level controls and internal controls in financial reporting and IT.
  • Provide staff and control owners training and support
  • Participate in recruiting, on-boarding & development of Internal Audit personnel
  • Maintain professional skills through on-going education and training activities
  • Other responsibilities may require involvement in risk assessments activities and process improvement related projects within operations, controllership and technology
  • Interview process owners to understand control activities in place, challenges or impediments to the control activity and provide suggestions for revising controls, as necessary, to ensure operability and functionality.
  • Ensure key controls identified in the narratives agree with the control matrixes, test plans and process flows and update process-related documentation.
  • Conduct trainings, as required.
  • Drive process improvements for greater accuracy, financial control, and efficiency.
  • Assess processes for identifying opportunities to streamline processes and control activities.

    Qualifications and Experience

  • BA/BS in Accounting or Finance or related field.
  • Strong understanding of SOX Compliance, AT 101, COSO Framework, US GAAP, PCAOB standards, SEC regulations, Auditing Standards and internal controls to evaluate and determine the adequacy of controls
  • 6+ years of audit/control advisory experience from large national/international accounting firms, or large public companies and/or internal controls related experience.
  • Financial statement audit experience is a plus.
  • Understanding of application and system access controls, and COSO framework.

About LPL Financial:

LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker/dealer*. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions. LPL and its affiliates have more than 3,700 employees with primary offices in Boston, Charlotte, and San Diego.

Our Culture:

If you join LPL, you will join a culture that believes in delivering a world-class client experience and looks to all employees to contribute to that goal by sharing their creativity, experience, and passion for continuous improvement. As a destination of choice, our top priorities are growth and development, social responsibility, and financial health for our employees. 

We offer competitive compensation and industry leading benefits, including a wellness facility with onsite fitness classes, healthy meal choices, and a walk-in clinic. We support employee financial health through a 401k match, ESPP, and employee discounts. Work/life balance is our foundation and is supported through paid holidays, and paid time off (including time to volunteer). We foster a diverse work environment through Employee Resource Groups and diverse strategic partnerships.  

Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please login or create an account to apply to this position. Principals only. EOE

*As reported by Financial Planning magazine, June 1996-2017, based on total revenue.

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