Balance Sheet Optimisation - FRR - Senior Manager

Job description

KPMG Overview:         

KPMG in the UK is part of a global network of firms that offers Audit, Legal, Tax and Advisory services. Through the talent of over 16,000 colleagues we bring our creativity, insight and experience to solve our clients’ and communities’ biggest problems. We’ve been doing this for more than 150 years.

We aim to be universally recognised as a place for great people to do their best work. A firm known for our collaborative and inclusive culture, using technology to empower and equip our people to deliver outstanding work with real flexibility – through inspiring workspaces, innovative ways to collaborate and hybrid ways of working.

With offices across the UK, we work with everyone from small start-ups and individuals to major multinationals, in virtually every industry imaginable. Our work is often complex, yet our mission is simple: To support the UK in a connected world. It guides everything we do, underpinned by our values: Courage, Integrity, Excellence, Together and For Better.

Summary of Role Purpose:

Our Balance Sheet Optimisation team provides advice to clients across Financial Services (banks, insurers, investment firms) on approaches for optimising their balance sheets considering prudential regulatory requirements, macroeconomic conditions, market dynamics and their business strategy.

As a Senior Manager, you will be a core team member on client projects, have technical expertise and support our leadership team in the development of business opportunities. We are seeking an adaptable individual with either direct industry or consulting experience in this area.

You will be joining a proactive and forward-thinking specialist team that has secured a significant pipeline of interesting and challenging work. 

Role Description:

• Advising clients on mechanisms to optimise their balance sheet, financial resource management and achieve efficient capital structures
• Advising on capital relief and similar transactions for financial services firms seeking to optimise their financial resources (e.g. SRTs, CLOs, RMBS)
• Assisting clients in understanding the impact of prudential developments on their balance sheet and strategic approach to financial resource management (e.g. Basel 3.1, Solvency II, etc.)
• Advising clients on their organisational design (e.g. legal entity structures, booking models and incentivisation), designing new organisational models and assessing the regulatory/operational implications of changes to their structures
• Advising firms on managing their relationship with PRA and FCA, including providing technical prudential advice on applications to the PRA and FCA for regulatory authorisations, permissions and waivers.
• Providing technical prudential regulatory support and advice on transactions (e.g. forward-flow agreements, securitisations and M&A due-diligence activity)
• Practically supporting firms in developing the ICAAP, ILAAP, ORSA processes
• A key member of a project team delivering client work in this area – this will include delivering client projects to a high level of quality, as well as mentoring, coaching and overseeing performance development of other junior team members.
• Client relationship management – support the team’s efforts to build and maintain key client relationships through supporting client relationship management and the development of thought leadership on key issues
• Project delivery – supporting the start-to-end delivery of complex projects to deliver high quality (including risk management, financial monitoring, client delivery and stakeholder management)
• Business development – developing propositions and responses to client requests for proposals with the guidance and support of senior team members.

The Person:

• A good understanding of banks or insurance business models, the market environment and commercial drivers
• Knowledge of bank and/or insurance capital rules and requirements and/or of capital relief transaction (e.g. SRTs, securitisation, etc.)
• Understanding of key regulatory and market developments which will impact the approach to financial resource management at banks/insurers
• An established track record and experience in the PRA rules and guidance (for banks and/or insurers under CRR, Solvency II, etc.)
• Relevant financial services experience with a prudential regulatory, treasury or ratings focus either as part of a financial services firm, ratings agency, consultancy or PRA/FCA/other regulators
• A drive to develop your skills in financial resource management by using a solutions-driven mindset and strong problem-solving skills to help solve client issues.
• Good communication and stakeholder/customer management skills.
• Intermediate proficiency in MS Excel, MS PowerPoint and MS Word.
• Industry recognised qualification (e.g. CFA, FRM, ACA, etc.) (or working towards this) desirable but not essential.

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