Cargill has established a Controls COE within the Controllers Organization. This Controls COE has developed a financial controls framework for high risk financial controls that reduce the risk of financial misstatement in Cargill’s consolidated financial statements.
Control owners and operators in the embedded A&F and CBS Finance organizations will be responsible for executing the controls.
Cargill needs to ensure that the controls that are deployed within the CBS centers are operationalized with urgency and with a high degree of quality.
The Controls COE will focus on the design of the controls, training, rolling out the GRC tool, creating the self-assessment.
CBS Finance will focus on embedding, deploying the controls in the 6 centers and performing the self-assessment along with 1st level of internal monitoring of controls.
CBS Controls Tower will be responsible to help deployment the control framework designed by the Controls COE team and then perform independent monitoring of the control framework embed by CBS Finance.
10% Deploying matrices, policies · Deploying Risk and Control Matrices (RCMs) (documenting specifics from the processes)· Deploy and train CBS Finance operations teams on new policies and procedures provided by the control teams· Identifying key control owners, reports, and procedures related to controls· Incorporating the control procedures into GRC Archer tool80% Monitoring the controlframeworkIndependent Monitoring of control framework· Draft control test procedures (audit program for testing of controls)· Perform control tests using different control testing techniques· Design sampling methodologies based on the data available · Navigate within ERPs to understand data that can be extracted · Identify control failures and facilitate a discussions for remediation plans.
Help vet the remediation plansSelf Assessment in GRC · Ensure GRC has the latest information interms of control owners, revised controls if process has changed and other changes as necessary.