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Associate Director - Transaction Services - Financial Services
Service Line: Transaction Services
Manager - Transaction Services, TMT
Service Line: Transaction Services
Manager - Securitisation - Deal Advisory
Service Line: Transaction Services
Manager - Transaction Services - Private Equity Group
Service Line: Transaction Services
Senior Manager (CASS) - FS Assurance Services Banking
Service Line: Audit
Our Transaction Services practice comprises approximately 350 people across the UK, organised along market lines. Within this structure, the Financial Services Transaction Services team comprises 70 professionals.
We provide due diligence advice and assistance to financial services clients of every size, and help them to deliver successful transactions. We also assist private equity clients making investments into the financial services market.
We focus on acquisitions, disposals, public bids/mergers, joint ventures, buy-outs, initial public offerings (IPOs), market entry, financing and other transactions. We identify, structure and execute all manner of public and private market transactions, and provide support from initial analysis of strategic options and deal evaluation through to completion. We help our clients to identify upside opportunities and risks in their transactions and also assist as Reporting Accountants during Capital Markets processes to satisfy the due diligence requirements of underwriting investment banks.
Our team works closely with colleagues across Deal Advisory as well as Tax, Regulatory and other Advisory teams. We frequently work alongside KPMG teams from other jurisdictions to deliver clients seamless insight across multiple geographies.
Our Financial Services covers deals across the full range of banking, insurance and investment management. Within the team, individuals may chose to focus on an individual sub-sector or gain experience across a range of Financial Services business models.
Due to the increase in the number of transactions currently taking place in the market we are fast-growing the size of our team and have a need to recruit Associate Directors to focus on the Financial Services sector. Specific experience of financial due diligence and/or capital markets reporting will be highly regarded, but we would be open to receiving applications from exceptional staff who have the aptitude and drive to develop the required transaction services skills or market skills.
Associate Director appointments are made on the basis of proven track record. As engagement managers, Associate Directors are expected to play a key role in the development of all aspects of the practice. You will be required to perform the following activities as part of the role:
- Engagement management : you will structure and lead multiple large, complex workstreams in ambiguous and rapidly changing environments
- Business development : you will build, commercialise and sustain relationships with client management team members for the benefit of the Firm. You will develop propositions, focussing on specific themes and/or clients.
- Risk management : you will identify and manage risks, ensuring the Firm's risk management frameworks are implemented appropriately and effectively
- Developing People : you will identify team member development needs and accelerate development by establishing the appropriate plans and frameworks with particular emphasis on mentoring and skills transfer. You will act as a role model with colleagues and clients by living the values of the Firm.
- Delivering quality services : you will monitor and deliver high quality service to clients (both internal and external). You will be proficient at managing multiple priorities
- Advisory Skills : you will use your extensive skills and experience to provide advice as a trusted adviser.
You would be based in KPMG’s London office but the role may involve some travel.
Required Skills and Qualifications You will have the following skills and qualifications:
•Strong academic background with financial qualifications such as ACA (or equivalent)
•Strong analytical skills including the ability to interpret data, generate insights and construct solutions
•Extensive experience of managing advisory or transaction related engagements
•Strong personal impact and self-awareness
•Excellent written and oral communication and presentation skills
•Evidence of working successfully with top management teams at clients: The ability to lead and operate in high performing, multi-disciplinary teams
•Experience in Insurance, Banking and/or Investment Management.
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 dreams 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, transparent conversations about your career development.
Our Transaction Services practice comprises approximately 500 people across the UK, organised to align to KPMG’s market orientated structure, and is at the heart of the Firm's agenda to increase its penetration of boardrooms and work with clients across the economic and transaction cycle.
Within this structure, the Transaction Services Corporates team comprises c.100 professionals advising corporates across various sectors, including Consumer & Retail, Technology Media and Telecoms, Energy and Natural Resource and Life Sciences, and working predominantly on financial due diligence projects across buy side, sell side, IPOs and refinancing projects.
Our team works closely with colleagues across Deal Advisory, including Corporate Finance and Strategy as well as Tax, Audit and other Advisory teams; it is a multi-disciplinary and international environment that sits right at the heart of our One Firm agenda.
Due to the increase in the number of transactions in the Technology, Media and Telecoms (TMT) sector we are expanding the size of our team and have a need to recruit a Manager in order support the growth of our TS business.
Specific experience of leading a financial due diligence project in the TMT space is required.
Role & Responsibilities
You will be required to perform the following activities as part of the role:
- Due diligence skills: You will perform analysis on the financial statements, and internal management information of entities. You will be required to interpret financial performance of target entities, using your understanding of key accounting concepts.
- Analytical skills: You will be required to produce analytics on the trading performance and position of entities in order to provide clients with insight on key business drivers. Good proficiency in Excel based analytical techniques will be key to this, and knowledge of other software packages an advantage.
- Accounting skills: You will be required to have a working knowledge of IFRS, and apply this knowledge to target entities, including an appreciation for the impact of accounting policies on reported financial performance.
- Technology, Media and Telecoms expertise: You will need to have in depth knowledge and experience of working with entities within at least one TMT sub-sector, and apply this knowledge to analysis of other entities.
- Report writing: You will need to have excellent written business communication skills. You will need to be able to clearly articulate business issues through written reports with clients.
- Advisory skills: You will provide advice as a trusted adviser, using their skill, experience and understanding of transactions to the advantage of their client.
- Developing people: you will need to demonstrate the ability to give clear directions, as well as positive and constructive feedback. You will coach less experienced staff and actively assist in the development of others.
- Project management: you will be responsible for the delivery of client facing projects, being the main day to day point of contact for senior client contacts.
- Team work: you will be key team members on large complex assignments and will lead work streams on smaller and medium size engagements.
- Building relationships: you will be required to build and sustain relationships with client management team members for the benefit of the Firm as well as acting as an ambassador and role model for the Firm.
- Delivering quality service and time management: You will be required to monitor and deliver high quality service to clients (both internal and external). You will need to be able to manage their own time, plan and organise work tasks, monitor progress and meet deadlines. Individuals will be proficient at managing multiple priorities.
- Risk management: You will be required to identify and manage risks and ensure the Firm's frameworks are implemented.
To succeed in this demanding role you will need to demonstrate the following skills and experience:
- Strong academic background with accounting qualifications such as ACA.
- Experience of financial due diligence and/or financial services reporting is highly regarded, though we would definitely consider candidates with other skills and the aptitude to learn
- In depth knowledge and experience of working with entities within at least one TMT sub-sector
- Strong analytical skills including the ability of interpret data, generate insights and construct solutions.
- Excellent written and oral communication
- Strong personal impact
- Ability to perform consistently at a high level under pressure
- Evidence of managing teams in a fast moving environment with changing client requirements.
KPMG is one of the leading Audit and Assurance practices in the UK whose success and reputation depends upon the quality and integrity of our services, and our people. As a member of our team you will benefit from relevant training and education to keep you up to speed with current changes in this specialist area of our practice.
Our Securitisation team is made up of client facing staff delivering a range of engagements across a broad spectrum of clients. These clients include investment banks, who arrange securitisation transactions, and the clients who undertake them, including: national and ‘challenger’ banks; foreign banks; building societies; leasing and other lending companies. As a manager, you will be expected to manage a rolling portfolio of engagements from planning through to completion. Your role will include executive level client interaction and provide you with the exposure to multiple clients on a regular basis. Our current activity levels support the growth and expansion of the existing team.
As part of a high performing team you will be offered extensive professional development and support. You will be allocated a senior member of staff to assist with your career development and performance management to help you in meeting your professional goals.
Project management and oversight of all work streams* that KPMG provides to clients undertaking securitisations and other similar transactions:
* The main work streams involved in typical securitisation transactions, which the manager would be responsible for are
• Supporting the senior team in proposal preparation and responses to tender requests, and conference attendance
• Oversight of loan/asset file due diligence (mainly residential mortgages, commercial loans, auto loans, personal loans or credit cards), managing delivery via the in-charge
• Oversight of Excel modelling work to enable checking of stratification tables and weighted average lives calculations produced by clients, managing delivery via the in-charge
• Oversight of the in-charge checking that such data (and other financial or market data information) is correctly extracted and set out in the offering circular/prospectus
• Managing the performance checks of asset and portfolio eligibility criteria and credit events
• Working with audit teams to check the accuracy of financial information included in corporate bond documentation
• Monitoring engagement financial performance, identifying potential overruns and raising invoices
The ‘practicalities’ of the job:
Client behaviours/work profile – the work load and timing of assignments is unpredictable and volatile – we are frequently advised of transactions with little notice and often have to accommodate several changes to our work plans and schedules for when specific work activities are to be carried out. Managers do have to be flexible and adaptable to meet client requirements – but also where possible be firm with clients to try and reach realistic and reasonable deadlines
Staffing/support resources – to supplement our dedicated securitisation assistants, additional junior resource is often drawn from audit and other departments to support the in-charge and manager on teams, who may have little previous experience or knowledge of the work. However, the securitisation work in itself can be performed successfully if appropriate instruction and coaching is provided. Managers will be expected to coach and develop in-charges and new securitisation assistants as part of our growth plans.
Locations/logistics – the client sites where assignments are undertaken are spread around the country – with concentrations of work regularly required in the South West, Greater London, Yorkshire, North East, Scotland and the Midlands. Covering transactions across the EU and Middle East, we work in liaison with our local offices. Managers will be expected to visit client sites during engagements, whilst fieldwork is controlled on a day-to-day basis by the in-charge.
Qualifications and Skills:
The ideal candidate will meet the following criteria
• Professionally qualified with a recognised accountancy body, ACA, ACCA, CIMA or CPA or a similar qualification. We are prepared to consider candidates without such qualifications if their other skills merit this.
• Whilst exposure to Financial Services audits is preferred, this is not a requirement.
• You are required to possess well developed leadership and supervisory skills and have the ability to effectively communicate with a wide range of individuals both internally and externally.
• Drive and resilience and ability to thrive in a pressured environment.
• Strong project management techniques including decision-making ability, analytical skills, time management, organisation and evaluative skills
• Capable of working under the pressure of multiple deadlines and competing priorities across various projects concurrently.
• IT literacy with sound knowledge and experience of Excel and Word
• Managers should be able to delegate tasks to junior team members whilst maintaining oversight of key issues and findings,
Our Transaction Services practice comprises approximately 350 people across the UK, organised to align to KPMG’s market orientated structure, and is at the heart of the Firm's agenda to increase its penetration of boardrooms and work with clients across the economic and transaction cycle. Within this structure, the Private Equity Transaction Services Team (PE TS) team comprises c.60 professionals focused on both mid-market and LBO houses, working predominantly on financial due diligence projects across buy side, sell side, IPOs and refinancing projects.
Our team works closely with colleagues across Deal Advisory as well as Tax, Audit and other Advisory teams; it is a multi-disciplinary and international environment that sits right at the heart of our One Firm agenda.
Due to the increase in the number of transactions in the private equity market we are continuing to expand the size of our team and have a need to recruit multiple Managers in order support the growth of our PE TS business.
Perform financial analysis on the financial statements and internal management information of entities. You will be required to interpret financial performance of target entities, using your understanding of key accounting concepts, analysing historical performance trends, identifying key drivers of performance as well as identifying potential issues which could either lead to a price adjustment for our client or an integration issue post-acquisition.
Produce analytics on the trading performance and position of entities in order to provide clients with insight on key business drivers. You will for example be expected to prepare and work with a project data book.
Provide advice as a trusted adviser, using their skill, experience and understanding of transactions to the advantage of their client. This advice will be provided throughout a transaction and take the form of both oral and written advice. You will advise clients about the transaction process, SPA completion mechanics as well as providing general commentary of the findings of our work.
Demonstrate the ability to give clear directions, as well as positive and constructive feedback. You will coach less experienced staff and actively assist in the development of others. You will be expected to coach team members who are have either not yet fully attained accounting qualification or have less transaction experience than you.
Responsible for the delivery of client facing projects by being part of the transaction fieldwork team, being a day to day point of contact for senior client contacts for matters relating to our work.
Your role involves working in a team environment. You may be part of a larger team on complex assignments and you may be asked to lead work certain work streams on less complex engagements.
Build and sustain relationships with client management team members for the benefit of the Firm as well as acting as an ambassador and role model for the Firm.
Monitor and deliver high quality service to clients (both internal and external). You will need to be able to manage their own time, plan and organise work tasks, monitor progress and meet deadlines. Individuals will be proficient at managing multiple priorities.
Identify and manage risks, including front end client and transaction acceptance procedures and ensure the Firm's reporting frameworks are implemented throughout a transaction process.
Skill and Qualifications
Financial qualifications ACA or ACCA (or equivalent)
Experience of managing buy-side and sell-side financial due diligence projects
Experience of working with Private Equity clients
Extensive experience in client facing project management
Proven experience of building commercial relationships with Private Equity clients for the benefit of your existing employer.
Experience in the development of PE-TS propositions and asset opportunities with Private Equity clients.
Strong analytical skills including the ability of interpret data, generate insights and construct solutions
Excellent written and oral communication
Opening date: 04 July 2019
Closing date: 01 August 2019
Competitive salary plus negotiable benefits
FSAS Banking Regulatory provides regulatory advisory and assurance services to assist leading organisations in the Banking sector. KPMG has a proven track record of helping clients in this area, and we have significant growth plans given the opportunities arising from increasing regulatory scrutiny, supervision and demand for external assurance.
Team members possess a variety of core assurance and advisory skills, and have considerable industry knowledge and specialist expertise of the UK regulatory environment.
Roles and Responsibilities:
- Delivery of client engagements, leading small sized teams and providing input to larger, multi-disciplinary teams.
- Delivering Section 166 reviews and reporting to the FCA as part of a wider team.
- Providing clients with assurance over their arrangements for producing, validating and submitting monthly regulatory returns in respect of client assets.
- Advising and assisting clients with implementation of systems and processes to comply with both current and potential changes to the client asset rules.
- Advising clients on CASS issues and providing assurance over existing processes.
- Advising client on the development, implementation and/or effectiveness of client asset governance structures.
- Development and delivery of client asset based training programmes for clients and internally at KPMG
- Provision of technical support and advice internally to KPMG teams in respect of the client asset audits.
- Taking a leading role in the identification of business development opportunities and the preparation of client proposals in order to assist in meeting overall departmental sales targets.
- Sub-team leadership, leading a team of 5-6 individuals within a larger team, including: mentoring and coaching of other less experienced team members, oversight and business planning.
- Supporting KPMG's efforts together with the European Centre of Excellence in relation to Sales and Marketing, Research and - Development and Knowledge Management.
Qualifications and Skills
- Strong understanding of businesses, structures, governance frameworks and process & control infrastructures of firms in the banking sector.
- Excellent stakeholder and relationship management skills and ability to develop and maintain strong internal and external network of contacts.
- Strong leadership skills and ability to manage a team of professional staff.
- Strong background in regulation with deep technical skills in capital, liquidity or conduct of business areas and an appetite to learn more.
Experience and Background
- Educated to degree level or equivalent.
- Professional qualification preferred, with strong knowledge of regulatory rules and guidance but crucially the practical application within the banking industry.
- Project management skills, demonstrated by a record of regulatory project delivery.
- The ability to evaluate technical issues, analyse facts, consult and deliver solutions to clients.
- Excellent communication and presentation skills; including an ability to communicate well with clients in writing and verbally.
- Relevant financial services experience with a regulatory focus, either as part of a financial services firm, advisory capacity or FCA.
- Understanding of regulatory developments and key current issues facing clients.
- Proven track record in working with teams to bring high quality deliverables to a range of stakeholders.
- Proven track record in sales and building client relationships demonstrating networking and influencing skills.