Main Responsibilities of a SOX Specialist at Stripe
Allison's main responsibilities as a SOX Specialist at Stripe involve identifying "accounting risks"—or "what could go wrong"—within the company's processes. This includes assessing existing internal controls, implementing new controls where necessary, testing their effectiveness, and reporting findings to upper management and the board of directors to ensure the company's internal control environment functions effectively.
Risk Assessment, Internal Controls, Process Improvement, Testing and Auditing, Financial Reporting
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Allison Minarcik
SOX Specialist
Stripe
University of Arizona, 2016
University of Arizona Masters of Accounting, 2017
Accounting
Finance (Banking, Fintech, Investing)
Finance
Took Out Loans, Worked 20+ Hours in School, Greek Life Member
Video Highlights
1. Risk assessment and identification of potential issues within accounting processes
2. Design and implementation of internal controls to mitigate identified risks
3. Testing and evaluation of internal controls' effectiveness and reporting to upper management
Transcript
What are your main responsibilities within your current role?
My main responsibilities are to first determine the company's risks, specifically the accounting risks. In other words, what could go wrong? What are the risks that things can go wrong in the process before it makes it to the financial statements?
From there, I would address those risks or figure out what processes or internal controls are currently in place to address them. After that, we assess if the existing controls are sufficient. Do we need to make improvements, or is there a control gap that requires implementing a new control?
From there, we implement the controls that are relevant to the company for accounting purposes. After that, we test those controls to make sure they are functioning as intended. We then present our findings to upper management and/or the board of directors. This informs them about how the internal control environment is functioning and if it is doing so effectively.