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Senior Manager, Accounting Consultation, Banking Audit
Service Line: Audit
Manager - Employer Covenance - Restructuring
Service Line: Restructuring
Service Line: People
Manager - Water - Infrastructure Advisory Group
Service Line: Corporate Finance
Restructuring Insolvency Assistant Manager
Service Line: Restructuring
Manager - Transport Economics and Regulation - Infrastructure Advisory
Service Line: Corporate Finance
The Accounting Consultation team
provides in-depth technical accounting knowledge to the audited entities in
KPMG’s Banking Audit practice. The team brings technical knowledge with
practical insights and experience in the banking sector to advise our audit
teams on their most complex and judgmental technical accounting and reporting
Our team creates added value through:
-Seamless integration into
investment and retail banking audit teams to assist and deliver on the most
technical accounting aspects of their audits.
- Translating subject matter
expertise on complex accounting areas such as IFRS 9, hedge accounting and
structured transactions into comprehensible and practical solutions.
- Be at the forefront of, and drive
best practice in, financial instruments reporting across the KPMG audit
- Provide high quality and
practical training and education for external and internal audiences.
- Maintain close links with KPMG
UK’s national and global technical departments
Role and Responsibilities
- Advise on a wide range of accounting and reporting areas, with a focus
on financial instruments for our retail and investment banking clients.
- Integrate into audit teams to deliver responsive support based on strong
project management skills.
- Direct interaction with clients on our biggest clients and/or areas that
attract significant accounting risk.
- Inspection of financial statements of Public Interest Entity clients prior
- Develop internal and external training on accounting and financial
- Respond to ad-hoc accounting queries from audit teams
- Manage and mentor team members.
- There will also be opportunities to get involved in some advisory
engagements and projects led by other KPMG teams where accounting SME support
is required, e.g. IBOR replacement, Brexit, Finance transformation and
- Responsible for delegating, coaching and leading a team of assistant
managers who specialise in technical accounting alongside other managers and
under guidance of Partners/Directors to support our most complex banking
- Direct interaction with Banking audit Partners/Directors and regular
interaction with senior members of Banking audited entities' accounting
policy and finance functions, delivering insights in GAAP compliant solutions
to the audited entities most complex technical challenges.
- Responsible for delivering technical accounting solutions to maintain
industry leading audit quality to a range of complex audited entities
including global investment banks, mid-tier building societies and smaller
private banks. Solutions will be provided post internal consultation within
- Work experience in an accounting firm or finance function focusing on
financial instruments related technical accounting relevant to financial
- Experience of evaluating complex technical issues, requiring analysis
of facts and circumstances and consideration of alternatives culminating in
provision of sound practical GAAP compliant accounting solutions.
- Audit experience advantageous but not vital to role.
- Knowledge of finance processes, particularly accounting processes and/or
Professional qualification: ACA,
ACCA or CPA.
- Strong technical knowledge of accounting
standards related to financial instruments and/or relevant to Financial
Services clients (IAS 32 and 39, IFRS 3, 7, 9, 10, 13, 15 and 16, and FRS 102
sections 11 and 12) and crucially their practical application within the
written and communication skills; including delivering presentations and an
ability to communicate well with clients in writing and verbally.
- Strong project management skills, demonstrated by a record of accounting
Ability to motivate a team and lead
The KPMG Restructuring practice advises a wide range of businesses that find it increasingly difficult to manage their cost base and meet their financial obligations, including in respect of their pension schemes. Following a number of high profile failures, the management of pension scheme obligations has become a primary concern for all stakeholders (government, corporates and trustees) and, as a result, we have seen a material increase in demand for our advice in this area. Our team is targeting further significant growth over the next few years, leveraging our market leading credentials in this area.
During 2019, our Restructuring team advised on several high profile insolvencies, including a number of retail CVAs, where addressing the business’s pension obligations was a key concern. Over the course of 2019 we provided pensions specific Restructuring advice on corporate transactions with a total value in excess of £5 billion, across a wide range of sectors (Oil & Gas, Defence, Retail, Manufacturing), with clients ranging from Financials Investors and Global Listed Groups through to family owned businesses.
Due to the volatility in pension asset values and the UK population living for longer, pension funding requirements have grown materially in recent years. Further, following several high profile corporate failures, the regulations regarding the funding of pension schemes has become increasingly stringent. As a result, dealing with pensions stakeholders is now seen as a key boardroom issue, and our Restructuring pensions expertise means we liaise with our clients at a boardroom level – often directly with the CEO and / or CFO.
Due to the rapid growth in demand for these services, we are looking for a Manager to join our expanding National team, with this role based in London. Further, it is our expectation that there will be the opportunity for the right candidate to progress over time to an Associate Director grade.
The London Restructuring team comprises over 250 people, led by 24 partners and four associate partners. This specific role would see the successful candidate joining the National Markets London team (approx. 60 people, four partners and one associate partner), with a particular focus on assessing the financial strength of the companies that are responsible for funding defined benefit pension schemes and assessing how much these companies can afford to pay to their schemes to meet their funding requirements.
Our work is hands on – as well as producing concise reports, we are in the boardroom providing direct strategic and negotiation support, and then implementing our recommendations. Applicants should be ready to work in a dynamic, flexible and fast paced environment. The role requires strong accounting analysis, report writing skills and a commercial mind-set.
We work with a wide variety of clients, from small privately owned enterprises through to FTSE 100 and high profile businesses. Applicants should expect to work across all sectors.
Further, this role would also be ideal for candidates looking to work flexibly – we would be more than happy to accommodate a 4 day working week, or working reduced hours across a 5 day working week.
Roles and Responsibilities
To be an effective Manager within the Employer Covenant team, and in this role specifically, you will undertake the following:
• Build strong, trusted adviser relationships with senior management and other key stakeholders during engagements (including trustees, solicitors and actuaries);
• Manage teams of colleagues working on engagements, ensuring effective delegation and also multiple work stream delivery;
• Manage engagements and projects to scope, time, quality and budget complying with KPMG engagement management practices;
• Appraise situations (which can be challenging & fast developing) and look to develop innovative solutions, assessing options for businesses and/or stakeholders;
• Communicate views and insights (both in writing and verbally) in an effective and compelling manner to clients and KPMG colleagues, able to adjust style to circumstances;
• Lead the design and development of client ready deliverables with minimal Director and Partner input;
• Coach and develop team members providing high quality developmental feedback;
• Identify opportunities for the wider firm; and
• Involvement in business development activities, including developing pitches and proposals to win new work.
Qualifications and Skills
Key skills and competencies required:
• Strong commercial and business acumen, with evidence of experience;
• Demonstrable experience in leading work streams, advising and working alongside a range of stakeholders;
• Ability to work innovatively and ‘self-start’;
• Desire to build wide advisory expertise and develop knowledge of the team’s offerings;
• Ability to communicate well with operational and financial staff at all levels;
• Good time management and organisational skills, together with the ability to prioritise tasks;
• An ability to produce high quality, detailed and accurate work, and produce concise and creative reports and presentations;
• Enjoy working in a dynamic, flexible and fast paced project environment;
• Willingness to embrace work across all sectors;
• Willingness to undertake some travel, albeit this is typically limited to day trips; and
• Strong financial and analytical skills, with relevant accountancy qualification.
Experience and Background
Prior experience of undertaking pensions related work is not essential. Up front training and continuous coaching will be provided.
This role is a 3 - 7 month FTC opportunity.
Working in the HR Advisory Team (HRAT) you will have responsibility for providing business focused and best practice HR support taking ownership of some employee relations cases, escalating where complex cases as appropriate to HRAT Assistant Manager or another member of the team as necessary.
You will be responsible for building relationships with key stakeholders within HRAT and across People Ops, as well as the client group i.e. PLs and performance managers by whom you will be perceived as reliable, credible, commercial and expert. You will seek to develop flexibility in your approach so you can influence and build trust with a range of stakeholders. You will manage challenging conversations and cases effectively, drawing on advice from senior colleagues.
As a member of the HR Advisory team, you are expected to demonstrate the Firm’s values at all times and be seen as a role model to your client groups and team.
As an HR Advisor you will be encouraged to use your initiative when supporting key calendar activities, working with both your Senior Advisor colleagues and HRAT Assistant Manager to achieve the key deliverables, which are;
Roles and responsibilities
• Proactively develop strong and enduring relationships with key stakeholders;
• Work as part of a virtual team to deliver excellent client service.
• Where appropriate, resolve people issues to deliver commercially pragmatic outcomes, escalating as appropriate;
• Where appropriate, take a commercial, considered stance to risk assessment linking in with Employment Law Advisory Team (ELAT), escalating issues as appropriate to senior colleagues or your AM.
• Where appropriate support PLs with HR policy and process
• Where appropriate, advise on disciplinary, grievance and performance issues up to and including dismissal if appropriate–escalating as appropriate and managing casework
• Where appropriate, design and draft non-standard correspondence;
• Where appropriate, advise performance managers (PMs), PLs and Partners on absence management and the tools to deal with long term/persistent absences including OH referrals. Coach PMs and PLs on return to work conversations;
• Build a good degree of understanding in applying employment law, keeping up to date with changes and legal advancements;
• Where appropriate, support PMs and PLs on the implementation of RPP development plans and advise on how to approach and handle typical and atypical RPP/performance coaching meetings;
• Where appropriate, coach and support PMs and PLs on the performance management process and approaches to give difficult messages. Seek to build experience to handle medium/high risk issues;
• Scribe for disciplinary/grievance panel meetings.
• Where appropriate, work closely with People Information team to respond to requirements for management information including volumes of work;
• Build skills as necessary to present this information in a user friendly and professional format.
Contributing to HRAT and People function
• Manage workload and own diary;
• Take part in and contribute to functional and KPMG wide projects;
• Take on a ‘champion’ role with the HRAT and use this to drive best practice and share knowledge in this field;
• Adhere to SLAs and KPIs where appropriate, ensuring that real demonstrable value is being added to the business from HRAT;
• Take a personal responsibility to continuously improve and streamline the quality of HRAT work and own personal development;
Qualifications and skills
It is expected that you will be CIPD or part CIPD qualified or have the desire to study for the CIPD qualification.
In addition you will:
• Have an ability to build relationships and communicate with people at all levels;
• Effectively work with minimal supervision;
• Possess strong problem solving and facilitation skills;
• Be an excellent communicator – written and verbal;
• Demonstrate confidence to challenge Senior Stakeholders when necessary.
• Have strong organisational, literacy and numeracy skills;
• Have a good degree of IT proficiency including Excel, PowerPoint and SAP or equivalent HR system.
• Experience of working on Change and project related activity would be advantageous
KPMG’s Infrastructure Group in the UK consists of c200 professionals and is widely recognised as one of the world’s leading independent financial and business advisers in infrastructure.
We provide in-depth advice on the strategic, financial, regulatory and commercial issues driving investments in infrastructure across Transport, Power & Utilities, and Social Infrastructure in the UK and internationally. Our work includes market and policy design, economic analysis, deal structuring and execution, as well as strategic and transaction advice to enable private and public capital to fund infrastructure. We also work closely with other functions within KPMG to advise clients on mergers and acquisitions, valuations, tax, accounting, and due diligence.
The utilities sector is a key business area for the Infrastructure Group and encompasses work for the large clients in the sector including all of the leading UK energy and water companies. We provide in depth strategic and technical advice on corporate finance issues, corporate financial management; regulatory finance, regulatory policy, business and financial planning, as well as other issues affecting value. We are widely recognised by many industry stakeholders as one of the most innovative advisors influencing the future of the sector.
Our business is expanding rapidly and is looking for a high-quality candidate to support our Power & Utilities business, with a particular focus on the water sector.
- You would be joining the leading provider of strategic economic consultancy services in the water sector.
- While you will have specific responsibilities for contributing towards the team’s water business, there will also be opportunities to work in other sectors, primarily energy networks.
- Working closely with sector and subject matter experts you will develop to become the ‘go to’ person for water economic advice. This will involve developing an in-depth understanding of Ofwat’s regulatory framework.
- You will build relationships with key clients across the sector, as well as with other advisors (e.g. legal and engineering).
- The projects that you will advise on will be high profile and varied. For example, in recent years we have advised on the regulatory framework for the Thames Tideway Tunnel, every aspect of water companies’ business plans, bulk supply trading negotiations, Competition and Markets Authority re-determinations, major transactions, organisational transformations, and much more. If there is a large strategic project taking place in the sector, the chances are we will be advising on it.
- There is no ‘typical project’. You will need to apply a structured strategic approach to problem solving, drawing on established economic principles, while having the capacity to think creatively.
- The work will include a combination of report drafting, economic analysis, and engaging with clients.
- You will need to be comfortable managing, coaching, and mentoring junior staff on specific projects.
- We are looking for someone who is passionate to learn and develop in the sector, while taking responsibility for the quality of deliverables produced.
- You will have experience in the utilities sector, in the industry, at a regulator, or as a consultant ideally with water sector experience.
- You will have knowledge either of the regulatory frameworks for utility companies, micro-economics, or finance (ideally all three).
- You will bring excellent report writing, Excel and PowerPoint skills—strong writing and quantitative skills are a must.
- You will be comfortable and/or experienced in presenting to clients.
- Be a highly motivated, ambitious self-starter, willing to take advantages of the opportunities this position offers.
KPMG North Restructuring team are looking for an Assistant Manager to join their team.
The team of trusted advisors offer a full range of services to stressed and distressed businesses, ranging from formal insolvency through to advising profitable businesses on enhancing value and solving issues.
The team delivers a blend of stakeholder / lender side advisory work (including support with financial restructurings), company side advisory and formal insolvency. The team in the North provides services to a full spectrum of businesses from small owner managed concerns through to large multinationals and also a wide range of work with public sector organisations, all typically experiencing some form of stress or distress.
The team is not aligned to specific sectors and specialisms, however there are individuals with significant experience in certain areas and situations and we would welcome this in applicants. Applicants however should expect to work across all sectors as situations and clients demand.
Where possible, assignments will be resourced to suit individuals’ base locations, but the nature and unpredictability of our work will mean that some travel (and possible international working) will be required.
We are currently looking for an Assistant Manager to join the team. The role is available in Leeds, with opportunities typically located within the North region. Where possible, assignments will be resourced to suit individuals’ base locations, but the nature and unpredictability of our work will mean that some travel (and possible international working) will be required.
The role will involve working across a range of assignment types as highlighted above, and applicants should be ready to work in dynamic, flexible and fast moving environments.
Work alongside case managers and engagement leaders to provide support on the restructuring or insolvency assignments.
Rapid progression to a project management role, taking ownership of the key aspects of cases or managing discreet aspects of larger assignments.
Support the case manager’s production of reports/output on advisory/restructuring projects and all aspects of an insolvency assignment (typically involving trading, liaising with creditors and key stakeholders and sale of business)
Participating in marketing events, together with research and targeting of new client opportunities and development of client proposals. This will include the development of internal and external contacts.
Key skills and competencies required:
• Qualified Chartered Accountant or background in the Restructuring profession.
• Insolvency experience would be beneficial, but not essential given the wide range of work now undertaken by the team.
• Strong commercial and business acumen.
• Ability to work innovatively and ‘self start’.
• Some corporate advisory experience would be beneficial (either advising to businesses or through other work undertaken in / with corporates).
• Desire to build wide advisory and insolvency skillsets and develop knowledge of all Restructuring offerings.
• Ability to communicate well across a range of operational and financial staff at all levels. This is also often in challenging circumstances given the financial positions of the organisations we typically work with.
• Willingness to embrace work across all sectors and potentially undertake some travel.
Service Line Information
In Restructuring our clients and wider stakeholders vary considerably and include corporates (from mid-market to blue-chip), lawyers, hedge funds, lenders, PE houses, and public sector organisations.
Our service offerings develop in line with market demands and include advice on:
• Insolvency - both execution and advisory
• Exit planning and implementation
• Cash management - both crisis and strategic
• Lender advisory
• Corporate financial restructuring
• Operational restructuring, including turnaround, planning and implementation
• Impaired loan advisory services
• Chief restructuring officers
• Insurance solutions - insolvency services aimed exclusively at insurance companies.
We recognise that as individuals, we each have particular needs and that one size doesn’t fit all, when it comes to how, when and where you work. That’s why we’re proud to offer our colleagues agile working options. We believe in putting you at the centre of your career – KPMG will offer the training, development and stimulating work environment to help you get to where your career ambitions are. That’s why we introduced ‘Our Deal’ – it’s our way of saying ‘thank you’ for bringing your best to work. As part of ‘Our Deal’, you’ll benefit from a range of rewards from secondment opportunities and preferential banking services to a day off on your birthday and have open, honest conversations about your career development.
KPMG is part of a global network of firms that offers Audit, Tax, Pensions & Legal, Consulting, Deal Advisory and Technology services. Through the talent of over 16,000 colleagues, we bring our creativity and insight to our clients’ most critical challenges.
As a firm we help our clients navigate their biggest issues and opportunities. We aim to be universally recognised as a great place for great people to do their best work – a firm known for our collaborative and inclusive culture. And we will take pride in driving lasting, positive change in society.
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 vision is simple: to be the clear choice for our clients, for our people and for the communities we work in.
KPMG’s Infrastructure Advisory Group (IAG) is widely recognised as one of the world’s leading independent strategic advisors in the infrastructure sector. The group has won many awards, including financial advisor of the year (Infrastructure Journal). In the UK, the group consists of over 150 professionals, with locations in London, Birmingham, Manchester, Leeds and Edinburgh and is organised as a single national team.
We provide in-depth advice on the strategic, economic, financial and commercial issues driving infrastructure projects spanning the transport, power and utilities and social infrastructure sectors in the UK and internationally.
IAG’s Transport business provides market-leading advice to public and private sector clients including Department for Transport, Network Rail, Transport for London, Owning Groups, Train Operating Companies, Major Airports, High Speed 2, Highways England, Rail Delivery Group, as well as major city region authorities and local authorities.
Over the last decade we have undertaken key roles on high profile multi-billion pound projects and programmes across the UK, these include Crossrail 2, High Speed 2, Mersey Gateway, Northern Line extension and East West Rail. KPMG has long been a pre-eminent adviser in the rail franchising sector. Most recently, we have advised successful bidders on the East Midlands, West Midlands, South Western, East Anglia and TransPennine franchises. Our role in these competitions spans finance, strategy, commercial and delivery plans. We are currently supporting Network Rail design and implement its Putting Passengers First transformation programme.
IAG’s Transport Economics and Regulation team
Within IAG, the Transport Economics and Regulation team works with transport sector clients to develop commercial strategies, produce business plans, value economic impacts, and achieve better outcomes from regulatory policy and regulatory strategy.
Key service lines include:
― Pricing for transport services.
― Efficiency of capital investment.
― Efficiency of transport operations (benchmarking performance and operating costs).
― Economic regulation of transport infrastructure and services.
In response to the increasing demand for advice to support policy, regulation and investment decisions across the transport sector, we are looking for a high calibre, ambitious economist to join the team and play an integral role in the continued development of our business.
Key activities include:
― Undertaking a broad range of economic analysis including:
– Economic analysis
– Cost and performance benchmarking
– Pricing and incentives
– Economic and regulatory impact assessments.
― Writing technical and non-technical reports.
― Business development activities including writing proposals, and seeking out opportunities for new business.
― Developing and maintaining client relationships.
― Working with and managing colleagues.
― General project management and administrative activities.
Responsibility for delivering engagements in collaboration with senior colleagues. This will involve being able to scope work, develop project plans, deliver outputs and present to internal and external stakeholders
We encourage and expect all of our team to play an active role in engaging with clients and internal stakeholders. This includes building relationships, working closely on projects and presenting our findings.
― Experience working for or with an economic regulator, regulated company, economic/financial consultancy or as a government economist.
― Excellent understanding of transport policy, economic regulation and commercial performance.
― Knowledge of airports, railways and local public transport operations.
― Strong technical skills in economic analysis
― Strong report writing skills
― Flexibility and the ability to adapt to changing requirements.
― The ability to identify problems and contribute to the development of solutions, helping us to remain at the cutting-edge of thinking in the sector.
― The ability to develop work which anticipates and can withstand third party scrutiny and challenge.
― Financial modelling
― Econometric analysis