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The Team

KPMG’s Infrastructure Group in the UK consists of c150 professionals and is widely recognised as one of the world’s leading independent business, financial and regulatory advisers in infrastructure. The group has won many awards, including Financial Advisor of the Year (Infrastructure Journal) for several years. The group has locations in London, Birmingham, Edinburgh, Leeds and Manchester, but is organised on a national basis, operating under a single national cost centre.

We provide in-depth advice on strategic, financial, regulatory and commercial issues driving investments in infrastructure across Transport, Power & Utilities, and Social Infrastructure in the UK and globally. Our work includes market and policy design, economic and regulatory analysis, deal structuring and execution, as well as strategic and transaction advice to enable private and public capital to fund infrastructure. We work closely with other functions within KPMG to advise clients on mergers and acquisitions, valuations, tax, accounting, and due diligence.

The utilities sector is the largest business area for the Infrastructure Group and encompasses work for large clients in the sector, including all of the leading UK energy and water companies as well as some of the largest utilities in Europe and beyond. We provide in-depth strategic and technical advice on corporate finance and corporate financial management, regulatory finance, regulatory policy, business and financial planning, cost assessment and benchmarking as well as other drivers affecting value. Our work combines elements of policy, finance, strategy and economics to assist our clients in structuring investments, securing financing, supporting regulatory regimes and maximising shareholder value. We are widely recognised by many industry stakeholders as market leaders influencing the future of the utilities sector.

Our business is continuously expanding and we are looking for high quality candidates to support our Power & Utilities business with a particular focus on financial analysis, including financeability assessments, risk and scenario analysis, financial modelling, investment appraisal & valuation and assessment of required rates of return. This is to support the development of new service lines, particularly in corporate financial management, building on the work already undertaken in the Group.

The Role

- Contributing to the delivery of specific engagements on a day to day basis;
- Supporting pitching for new business with ideas;
- Developing market intelligence and sector knowledge;
- Contributing to specific business development initiatives, particularly proposals and pitches;
- Building and maintaining relationships with clients and target clients and key market constituents to support personal effectiveness and business development opportunities;
- Contributing to delivery of multiple projects simultaneously;
- Specifying, producing and evaluating financial models; developing a good working understanding of economic regulation;
- Contributing to the effective planning, delivery and closure of projects; maintaining a good understanding of the regulatory frameworks and financial implications in the water and energy sectors; as well as any other duties commensurate with the role.

Skills, qualifications and experience required

- Degree in Economics, Finance, Mathematics or similarly analytical;
- Familiarity with Bloomberg, Eikon or other financial databases;
- A working knowledge of economic and financial theory, and ability to apply this to regulatory finance;
- Experience in the utilities sector, water and energy networks sectors in particular, preferably in the industry (either with a company or the regulator) or as a consultant specialising in these sectors
- An understanding of current UK economic regulation as well as its application
- Excellent report writing, Excel and Powerpoint skills—strong writing and quantitative skills;
- An analytical approach to problem solving and intellectual curiosity;
- A willingness and adaptability to work on a diverse range of projects

Opening Date: Friday 9th October 2020
Closing Date: Friday 6th November 2020

Competitive salary plus negotiable benefits

KPMG Overview
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.

Our Transactions Services group is focused on continually enhancing value for clients across the deal and economic cycle. Our teams comprise of specialists capable of helping clients right through from conceptual thinking of buying a business to turning their business around in times of difficulty.

KPMG's Integration & Separation Advisory Team is a growing and dynamic team. We work with both vendors and acquirers on mergers, acquisitions, divestments, exits and joint ventures, both pre and post-deal.
The team offers four key proposition areas:
- Separation: Supporting vendors to plan and deliver a credible, discrete standalone entity to the Buyer with value preserved and business continuity in place from Day 1, including supporting the definition and implementation of transitional service agreements.
- Integration: Pre and post deal integration design, planning and implementation to integrate the target business into the Buyer’s organisation whilst mitigating risk and enhancing value.
- Synergies: Understanding the potential benefits and costs generated through a proposed transaction, and the associated plans, interdependencies, risks and issues for the delivery of base and stretch case targets.
- Joint Ventures: Helping respective partners ensure the key value considerations are identified and prioritised early and delivered through the associated business plan, leveraging each party’s specific contribution and capabilities and managing broader stakeholder relationships.

Role Overview
The role of an Associate Director (AD) focuses on leading an Integration or Separation engagement at deal pace and delivering high quality client work alongside senior client stakeholders. Working in a transaction environment which may be pre or post deal, and can range from early planning, developing summary or fully detailed and costed “blueprint plans”, planning for Day 1, planning post deal implementation, and ultimately supporting execution. This will include:
- Producing and overseeing development of the initial and final draft updates, outputs and deliverables to required timescale and ahead of Partner / Director review.
- Leading client interactions and updates around the deliverables and outputs of an Integration or Separation engagement.
- Understanding of the operations of a business across all functional areas and understanding the interdependencies between organisations and the transaction workstreams.
- Project managing across the entire engagement programme or a number of different workstreams on such programme.
- Closely working with a respective Director/Partner on an engagement developing engagement strategy, budget, delivery plan etc.
- Leading any wider KPMG teams on an engagement in accordance with scope agreed with the respective Director/Partner.

Role and Responsibilities
- As an AD typically performs one of the leading roles on an engagement, the role on an engagement is seen as a leadership role modelling right behaviours to the team.
- An AD is expected to be challenging our people to be curious and innovative on all engagements and internal work and supportive for each other. At the same time ensuring that all outcomes are commercially focussed, value adding and effectively executed.
- Individuals are expected to actively contribute to developing pitches, proposals and external market initiatives which help us to win new work as well as look out and help to convert new opportunities on existing engagements.
- Demonstrate credibility and experience to advise and deliver on complex I&S deals (involving teams from I&S, DA and the wider firm).
- Acts as Engagement Manager for I&S projects (where appropriate).
- Acts as primary point of contact for the client across overall engagement.
- Challenges client appropriately to ensure team size and timelines are appropriate for successful delivery of scope.
- Proactively understands client expectations and how the KPMG team can add value.
- Manages stakeholders (internal and external) to minimise reputation risk on live engagements.
- Takes full ownership for delivering high quality client deliverables and provides day-to-day leadership for the team on the ground.
- Deploys I&S and DA technology on their projects, to reduce cost and improve client delivery where appropriate.
- Applies commercial mind-set to pricing and engagement profitability, whilst using professional judgement to protect the reputation of the firm.
- Focused on managing engagement profitability (not just focused on top line revenue), consistently applies a commercial mind-set to pricing and engagement profitability.
- Proactively delivers Sentinel, Client and Engagement acceptance activities, to manage the Firm's risk.
- Proactively manages WIP and Provisioning.
- Consults proactively and appropriately with P&D in relation to engagement risk management (escalating items to the Risk register as necessary).
- Actively coaches and oversees engagement team members on engagement risk activities, delegating appropriately whilst taking responsibility.

Skills and Experience
- Experience working within a Deals/M&A environment ideally within the Integration & Separation space and in a broader role with a solid understanding of operational interdependencies and implementation challenges.
- Ideal candidate would have previous experience in consulting as well as industry. The latter preferably in the M&A/Business Development team with the focus on originating and executing deals up until the operational implementation is completed.
- Experience of leading teams and developing individuals
- Project/programme management experience ideally from working on complex/large scale projects.
- Demonstrate curiosity and innovation, striving for continuous improvement, exercising professional judgement and making a positive and lasting impact.
- Professional qualifications welcome.
- Possess a genuine interest in building and commercialising relationships having the ability to interact with our clients on a consultative manner as a trusted advisor.
- An understanding of the market drivers, challenges and opportunities impacting our client’s strategies and priorities, enabling them to position solutions and ideas which take these into account.
- Strong interpersonal skills and the ability to demonstrate personal impact, flexibility, drive and commitment.
- Strong Financial acumen.
- Presentation (oral and written).
- Strong client relationship skills.
- Analysis and problem solving.
- Report writing.

The Team

KPMG’s Infrastructure Group in the UK consists of c150 professionals and is widely recognised as one of the world’s leading independent business, financial and regulatory advisers in infrastructure. The group has won many awards, including Financial Advisor of the Year (Infrastructure Journal) for several years. The group has locations in London, Birmingham, Edinburgh, Leeds and Manchester, but is organised on a national basis, operating under a single national cost centre.

We provide in-depth advice on strategic, financial, regulatory and commercial issues driving investments in infrastructure across Transport, Power & Utilities, and Social Infrastructure in the UK and globally. Our work includes market and policy design, economic and regulatory analysis, deal structuring and execution, as well as strategic and transaction advice to enable private and public capital to fund infrastructure. We work closely with other functions within KPMG to advise clients on mergers and acquisitions, valuations, tax, accounting, and due diligence.

The utilities sector is the largest business area for the Infrastructure Group and encompasses work for large clients in the sector, including all of the leading UK energy and water companies as well as some of the largest utilities in Europe and beyond. We provide in-depth strategic and technical advice on corporate finance and corporate financial management, regulatory finance, regulatory policy, business and financial planning, cost assessment and benchmarking as well as other drivers affecting value. Our work combines elements of policy, finance, strategy and economics to assist our clients in structuring investments, securing financing, supporting regulatory regimes and maximising shareholder value. We are widely recognised by many industry stakeholders as market leaders influencing the future of the utilities sector.

Our business is continuously expanding and we are looking for high quality candidates to support our Power & Utilities business with a particular focus on cost assessment, modelling and benchmarking as well as financial analysis. This is to support the development of new service lines, building on the work already undertaken in the Group.

The Role

- Building relationships with clients and developing wider networks with clients and other advisors
- Running coverage of clients, supporting our reputation as a leading advisor in the utilities sector
- Developing market intelligence and sector knowledge
- Maintaining a good understanding of regulatory finance issues in the regulated sectors e.g. on setting the cost of capital or assessing financeability, as well as how regulatory mechanisms interact with or impact the actual financing of regulated businesses
- Proactive business development to identify new opportunities
- Leading the development of proposals and supporting pitching for new business with ideas
- Managing delivery of several medium to large size engagements on a day to day basis
- Ensuring quality of economic and financial analysis as well as written and verbal advice
- Being responsible for the quality of deliverables produced for clients
- Providing effective management, coaching and mentoring of junior staff on specific engagements
- Managing junior members of the team and as part of the wider business
- Developing the team, inspiring and empowering team members
- Ensuring compliance procedures are adhered to
- Recognising and addressing potential risks
- Any other duties commensurate with the role

The Person

- Have significant experience in the utilities sector, as a regulatory policy maker (gained at a regulatory office or industry) or as a consultant specialising in regulatory or corporate finance
- Educated to a degree level in a quantitative field such as Finance, Economics, Mathematics or similar will be preferred, although candidates with highly relevant, equivalent experience, will also be considered
- Have a detailed knowledge of the current UK regulatory regimes and regulatory finance mechanics for utilities, their application and impact on notional and actual capital structures and business performance
- Demonstrate strong working knowledge of economic and financial theory and its application, preferably with experience in applying corporate finance concepts in the regulated networks space

- Be highly skilled in quantitative economic and financial analysis. The ideal candidate will have experience leading projects with extensive financial modelling elements, and /or have detailed knowledge and experience of financial econometrics and statistics, ideally applied in the utilities sectors
- Have a sound knowledge of finances and financial structures of regulated utilities (we will consider candidates with deep expertise in financial analysis even if they do not have econometrics experience)
- Provide compelling and well-thought out solutions to complex economic and financial problems, being able to provide persuasive and self-assured responses in a credible manner
- Bring excellent report writing, quantitative analysis (Stata or equivalent), Excel and Powerpoint skills
- Be comfortable and experienced in an external facing role and in presenting to clients
- Be an independent thinker with the ability to identify problems and contribute to the development of solutions, helping us to remain at the cutting edge of innovative thinking in the sector
- Relish the opportunity for interaction and dialogue with companies, investors, regulators and other stakeholders, and with a host of functions across KPMG
- Have experience of managing medium size project teams, with a focus on mentoring and coaching junior staff (with or without a finance background)
- Be a proven team player who can demonstrate a clear desire to manage teams, who can gain the trust and support of internal colleagues
- Demonstrable credentials of leading the delivery activities on major consulting projects
- Be highly motivated and ambitious, willing to take advantages of the opportunities this position offers
- Understand the wider UK utilities sector, its structure, composition, stakeholders and relevant policy debates
- Language skills and experience in other markets outside the UK are a bonus
- At least 3 A levels or equivalent; Undergraduate or higher Graduate Degree in Economics, Finance, Mathematics or similar (candidates with other degrees will be considered depending on their experience)
- All UK staff who have not passed a Financial Services Authority (FSA) approved exam will be required to do so.

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.
Our Transactions Services group is focused on continually enhancing value for clients across the deal and economic cycle. Our teams comprise of specialists capable of helping clients right through from conceptual thinking of buying a business to turning their business around in times of difficulty.

KPMG's Integration & Separation Advisory Team is a growing and dynamic team. We work with both vendors and acquirers on mergers, acquisitions, divestments, exits and joint ventures, both pre and post-deal.
The team offers four key proposition areas:
- Separation: Supporting vendors to plan and deliver a credible, discrete standalone entity to the Buyer with value preserved and business continuity in place from Day 1, including supporting the definition and implementation of transitional service agreements
- Integration: Pre and post deal integration design, planning and implementation to integrate the target business into the Buyer’s organisation whilst mitigating risk and enhancing value
- Synergies: Understanding the potential benefits and costs generated through a proposed transaction, and the associated plans, interdependencies, risks and issues for the delivery of base and stretch case targets
- Joint Ventures: Helping respective partners ensure the key value considerations are identified and prioritised early and delivered through the associated business plan, leveraging each party’s specific contribution and capabilities and managing broader stakeholder relationships

The Role
The role of a Manager focuses on proactively supporting an Integration or Separation engagement at deal pace and delivering high quality client work alongside client stakeholders. Working in a transaction environment which may be pre or post deal, and ranging from early planning, developing summary or fully detailed and costed “blueprint plans”, planning for Day 1, planning post deal implementation, and ultimately supporting execution. This will include:
- Producing initial and final draft updates, outputs and deliverables to required timescale and ahead of Partner/Director (P&D) review
- Supporting client interactions and updates around the deliverables and outputs of an Integration or Separation engagement
- Understanding of the operations of a business across key functional areas, and of the interdependencies between organisations and the transaction workstreams.
- Project managing small and medium engagement programmes or several different workstreams on more complex projects
- Closely working with project team leadership to support development of engagement strategy, budget, delivery plan etc.
- Supporting any wider KPMG teams on an engagement in accordance with scope agreed with the respective Director/Partner
- A Manager is seen as a role model supporting mentoring, coaching and development of junior project team members
- Managers are expected to challenge our people to be curious and innovative on all engagements and internal work, and to be supportive of each other.
- Ensure that all outcomes are commercially focussed, value adding and effectively executed by providing quality challenge and review
- Individuals are expected to actively contribute to developing pitches, proposals and external market initiatives which help us to win new work as well as look out and help to convert new opportunities on existing engagements
- Demonstrate credibility and experience to advise and deliver on complex I&S deals (involving teams from I&S, DA and the wider firm)
- Acts as Engagement Manager for small and medium I&S projects (where appropriate)
- Acts as key point of contact for the client across specific engagement areas
- Proactively understands client expectations and how the KPMG team can add value
- Manages stakeholders (internal and external) to minimise reputation risk on live engagements
- Takes full ownership for delivering high quality client deliverables and provides day-to-day coaching for the team on the ground to ensure quality standards are maintained
- Identify opportunities to employ I&S and DA technology on their projects, to reduce cost and improve client delivery where appropriate
- Applies commercial mind-set to support fulfilment of pricing and engagement profitability, using professional judgement to protect the reputation of the firm
- Proactively delivers Client independence (Sentinel), Client and Engagement acceptance activities (MSD), to manage the Firm's risk
- Support raising of timely invoices
- Proactively manages WIP and Provisioning in capacity as engagement manager
- Consults proactively and appropriately with engagement team leadership in relation to engagement risk management (escalating items to the Risk register as necessary)

Skills and Experience
- Experience working within a Deals/M&A environment ideally within the Integration & Separation space or in a broader role with a solid understanding of operational interdependencies and implementation challenges
- Ideal candidate would have previous experience in consulting and/or industry. The latter preferably in the M&A/Business Development team with the focus on originating and executing deals up until the operational implementation is completed
- Experience of coaching teams and developing individuals
- Project/programme management experience ideally from working on complex/large scale projects
- Demonstrate curiosity and innovation, striving for continuous improvement, exercising professional judgement and making a lasting positive impact.
- Professional qualifications welcome (ACA, CIMA, MBA or equivalent)
- An understanding of the market drivers, challenges and opportunities impacting our client’s strategies and priorities, enabling them to position solutions and ideas which take these into account.
- Possess a genuine interest in building and commercialising relationships, interacting with our clients as a trusted advisor
- Strong interpersonal skills and the ability to demonstrate personal impact, flexibility, drive and commitment
- Strong Financial awareness
- Clear presentation (oral and written)
- Strong client relationship development skills
- Detailed analysis and problem solving
- High quality report writing
- Be comfortable working in high pressured, ambiguous and flexible conditions that characterise transactions

The Role:

This is an outstanding opportunity to join a legal team of excellent calibre in a global organisation. We expect this opportunity will allow you to broaden our range of legal skills and experience.

KPMG International is the entity with which all member firms of the KPMG network of independent firms are affiliated. KPMG member firms provide audit, tax and advisory services to clients and are based in 155 countries.

The International Office of the General Counsel is a small team based in three countries. The team provides legal advice on key strategic issues for, and supports the execution of key business decisions made by, KPMG International. It also supports KPMG International and the KPMG global network in dealing with legal, regulatory and reputational issues and risks.

The role will involve working, under the ultimate supervision of the General Counsel or other senior experienced lawyers in the team, on a wide variety of matters involving cross-border legal risk and regulation, internal investigations, governance, structural matters, investments, business relationships (in particular, with the KPMG member firms) and protection and use of the organisation’s brand.

Some international travel may be required.

The Person






Qualification, Skills and Experience required

We are looking for a qualified lawyer, of approximately 5 years PQE (or equivalent, if not UK qualified), with significant experience advising on corporate matters in areas such as governance and structural matters, investments (including equity and debt), acquisitions, disposals and cross border legal risks and regulations. Some contentious experience or experience advising on significant brand and legal risk matters will be advantageous. All candidates with demonstrable ability to fulfil the role will be considered.

A successful candidate is likely to have or be able to demonstrate:


- Excellent legal technical skills


- Experience of working as part of a legal team in relation to complex cross-border corporate matters. This experience may have been gained at a top law firm or in an equivalent in-house position


- An understanding of business drivers affecting, and legal, regulatory and business risks faced by, large global organizations


- Awareness of own strengths and areas for development


- Ability to work flexibly and collaboratively as part of a small, supportive team while taking responsibility for their own work


- Ability to provide clear and pragmatic advice to, and deal confidently with, individuals at all levels


- Ability to deal with people from different cultures in an appropriate way