Director, Financial Controls and Compliance

Director, Financial Controls And Compliance

The Director, Financial Controls and Compliance will lead a function responsible for the effectiveness of Internal Controls over Financial Reporting (ICFR), including all business-related process controls and advanced IT control environments spanning ERP platforms cloud infrastructure, cybersecurity frameworks, and automated financial processes. The position will oversee all aspects of governance around the company's implementation, maintenance, and remediation of Sarbanes-Oxley Act (SOX) compliance initiatives. The Director, Financial Controls & Compliance develops company-wide control standards, manages/participates in control-related projects, partners with the business to identify solutions and process improvements, and provides training on control-related initiatives. This includes obtaining a broad understanding of the company's functions and business segments, as well as having a deep knowledge of SOX best practices. The ideal candidate will have an in-depth knowledge and experience in the areas of SOX, COSO framework, and US GAAP related to the retail industry. The Director, Financial Controls & Compliance will be a key member of the accounting organization at CarMax, responsible for ensuring ongoing compliance with Sarbanes-Oxley (SOX) requirements across the company.

What you will do Essential Responsibilities:

• Lead the company's SOX program, including, but not limited to, the following:
• Conduct the annual SOX risk assessment, determine materiality, scope, testing approach, and timing. This includes a comprehensive assessment of risks and key controls and a controls rationalization exercise.
• Consult with, and provide direction to, business partner teams related to SOX compliance activities, ensuring controls are properly designed and documented, and issues are identified, tracked, and resolved.
• Provide strategic oversight for new transformation, strategic and system implementations and major projects, ensuring integration of the design of internal controls, SOX compliance, segregation of duties, and risk mitigation.
• Partner with CIO, CISO and enterprise architecture teams to align IT risk management and SOX requirements and ensure that controls are embedded into system upgrades and implementations.
• Advise on and design IT General Controls.
• Monitor the evaluation/testing of internal controls and ensure any identified deficiencies are remediated in a timely manner. Provide consultative support for business partners in their development of remediation plans.
• Assess the severity of control deficiencies, both individually and in the aggregate. Identify root causes of control deficiencies and reporting errors and investigate, analyze and test possible solutions or measures for improvement.
• Prepare memos and agree issues with responsible management.
• Oversee and challenge impact and exposure assessments for control deficiencies and financial reporting risks, including evaluation of severity, financial statement impact, and ensure timely escalation to senior management and governance bodies.
• Maintain a current understanding of SOX legislation, PCAOB Standards, and other relevant guidance, using that knowledge to improve processes. Assess all training needs, develop training materials, and ensure all stakeholders are sufficiently trained on internal control requirements, design, and ownership.
• Work with key business process owners to identify, document, review, implement and certify internal controls. This includes the development and review of control templates and flowcharts.
• Provide updates and analysis to executive leadership and the Audit Committee on the status of our internal control environment and SOX compliance.
• Lead the certification process to support the CEO and CFO quarterly 302/906 representations.
• Serve as the primary contact with internal and external auditors on all control-related matters and look for ways to increase audit efficiency and effectiveness.
• Serve as the primary SOX subject matter expert by providing technical accounting leadership and oversight on complex accounting matters impacting controls, ensuring appropriate interpretation and application of accounting guidance, SOX 404, and internal control requirements in partnership with Finance, Accounting, Tax, IT, Legal and external auditors.

Qualifications and Requirements:

• Bachelor's degree in Accounting and active Certified Public Accounting (CPA) certificate required.
• Ten or more years of progressive accounting experience; Big 4 public accounting preferred.
• Extensive knowledge of US GAAP, SOX regulations, PCAOB standards, and COSO framework.
• Strategic thinker who demonstrates a willingness and desire to obtain a deep understanding of business processes, technologies and risks to provide valuable insights.
• Ability to make well informed, effective and timely decisions.
• Working knowledge of ITGC preferred.
• Experience leading projects and teams.
• Exceptional written and verbal communication skills with the ability to motivate and provide clarity on objectives.

Work Location and Arrangement: This role will be based out of the CarMax Home Office in Richmond, VA and Associates will work onsite 4 days per week.

Work Authorization: ?Applicants must be currently authorized to work in the United States on a full-time basis.?Sponsorship will not be considered for this specific role.?

About CarMax

At CarMax, we revolutionized the used car buying experience over 30 years ago by introducing transparency and integrity into the process. Our commitment to customer experience, innovation, and community has made us the nation's largest used car retailer. With over 250 store locations and over 30,000 associates, we are proud to have been recognized as one of the Fortune 100 Best Companies to Work For and are committed to helping our communities thrive.

As an associate, you are part of an innovative movement to empower the modern customer and drive progress. Your work fuels changesparking ideas, overcoming challenges, and shaping what's next. Join us in creating a better future for our company, our customers, and the communities we call home.

CarMax is an equal opportunity employer, and all qualified candidates will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, genetic information, national origin, protected veteran status, disability status, or any other characteristic protected by law.

The annual salary for this position is:

$130,800.00 - $209,300.00

May be eligible for bonus and equity.

Benefits:

Except as otherwise required by state law, CarMax Associates are entitled to the following paid sick, vacation, and holiday time.

Associates that are considered full-time hourly or commission/incentive eligible:

• To earn up to 48 hours of sick time per year accrued on a per pay period basis and between 80 hours and 200 hours per year of vacation time after a 90 day waiting period depending on years of continuous service with the Company.
• For 8 hours of pay for each of a total of 6 paid scheduled holidays per year plus 1 floating holiday. If such an Associate does work on a scheduled holiday due to business need, they are eligible for Holiday Premium Pay.

Associates considered full-time salaried are entitled to paid time away with no specified limit as needed for sick, vacation, bereavement, jury duty, holidays, floating holiday, etc. subject to manager approval.

For more details about benefits, please visit our CarMax Benefits website.

Upon an applicant's request, CarMax will consider reasonable accommodation to complete the CarMax Job Application.