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Actuarial Specialist – Manager (FTC)

Date: Aug 28, 2021

Location: London, United Kingdom

Company: KPMG UK

Service Line Information:
The KPMG Pensions Centre of Excellence Actuarial Specialists team was formed in 2019 and comprises 30 actuaries dedicated to supporting KPMG Audit in auditing financial statements under IFRS/UK/US GAAP/SORP in respect of Defined Benefit pension schemes. Specialist input to audits is crucial to ensuring audit quality, and being part of a new innovative start-up team will present opportunities to contribute to providing market-leading service as part of a team of subject matter experts.

We have changed how specialist support is provided, working more closely with management of our audited entities and the central audit team to provide high quality and focussed support, resulting in an enhanced experience. We are looking to recruit outstanding team players with a focus on quality and integrity, and a dedication to working in a collaborative manner.

Working in the Actuarial Specialists team will provide opportunities for pensions actuaries, actuarial students and pensions professionals to work with blue chip audited entities, liaise with their third party advisers, develop specialist knowledge whilst also providing access to the wider opportunities within KPMG. Due to the seasonal nature of the work, we are able to accommodate flexibility in working patterns (including part-time and seasonal contracts) and offer a competitive remuneration package and career progression opportunities.


Pensions Audit Group – Actuarial Team – Manager (Grade C)

1. Summary of Role Purpose:
The successful candidate will be a qualified (or nearly qualified) actuary with relevant experience working in pensions accounting and / or audit at a manager level. This role is a fixed term contract to cover upcoming maternity leave from October 2021 to September 2022.

2. Description of the role:
- Client contact on all pensions audit engagements, with overall responsibility for client relationship on small to medium engagements and roles on our largest FTSE accounts
- Final review and sign-off of reporting and closing out of issues on each case
- Overall responsibility for managing process from initial scoping with central audit team to final delivery of audit report
- Managing junior team through process, including responsibility for timetable, checking of calculations and review of conclusions
- Developing specialist technical knowledge and contributing to research and knowledge sharing (technical accounting support, audit tools and procedures, yield curves, longevity, valuation of longevity swaps, valuation of annuity policies, public sector, US GAAP, valuation of asset backed funding interests)
- Providing technical support on non-standard procedures (e.g. special event accounting, areas of difference)
- Contribute to developing streamlined and efficient procedures, whist maintaining an absolute focus on quality.
3. Role Dimensions:

3.1 Leadership & Management:
The successful candidate at manager level will be expected to run client engagement teams to deliver audit cases, and to contribute to the overall success of the team. Team members at senior manager and manager level are likely to have performance management responsibilities for junior team members.

Managers will take responsiblility for signing off reporting in respect of our small to medium audit clients, with reporting being delivered to KPMG Audit in line with KPMG audit quality procedures.

3.2 Stakeholder Interaction & Challenges:
Lead client contact on small to medium engagements, and supporting role on key FTSE audited entities throughout the audit process, typically liaising with in-house pensions managers and group finance contacts. Key clients include FTSE companies across all sectors.

As well as management meetings/calls to cover elements of the audit process from planning through to delivery of final reporting, there will occasionally be challenging client conversations where views differ on appropriate accounting treatments or where audit differences are identified. These will require the successful candidate to apply judgement and to be confident in clearly communicating our audit conclusions.

3.3 Impact, Risk, Accountability & Governance:
The team delivers over 500 audit support cases each year, covering KPMG’s largest high profile through to mid-market audited entities. A focus on quality and consistency will be central to everything that we do.

4. The Person




4.1 Experience:



Essential - The successful candidate will be a qualified (or nearly qualified) actuary with relevant experience working in pensions accounting and / or audit at a manager level.







Desirable - Detailed knowledge of pensions reporting under IFRS and specialist knowledge in one or more of the areas outlined below.







4.2 Expertise / Technical role requirements:



- Deep technical knowledge of DB pension scheme valuations, roll forward methodologies and actuarial techniques






.
- Understanding of the wider UK pensions landscape, the FRC audit environment and the issues facing our clients
.
- Working knowledge of IAS19 and pensions accounting



.
- The successful candidate will also have experience of one or more of the following specialist knowledge areas (and will be expected to develop further specialist technical knowledge and contribute to research and knowledge sharing):



technical accounting





audit tools and procedures





yield curves





longevity





valuation of longevity swaps and annuity policies





public sector pension schemes





US GAAP





valuation of asset backed funding interests





4.3. Skills:


Being credible and confident in liaising with internal and external stakeholders




Understanding of the wider UK pensions landscape and the issues facing our clients




Consistently able to work at high level of intensity whilst maintaining a professional and positive approach




Fully engaged and taking responsibility for own performance




Effective delegation and management of junior team, with a focus on development.











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