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Manager - Audit Business Risk

Date: Jun 10, 2021

Location: London, United Kingdom

Company: KPMG UK

Roles and Responsibilities

The Business Risk Manager supports the Head of Business Risk through a wide variety of projects and activities. The objective of the role is to help ensure that the Firm’s core risk policies are complied with by working closely with engagement teams and leadership teams across different business units. The audit landscape is changing, and for the Business Risk Function to continue to support the Business, the Risk Function needs to be proactive and not reactive to risk.
The Business Risk Function is embedded into the Audit Function and as such is an integral and important part of the audit function. As the risk environment evolves, due to changes in legislation and reporting standards, the current policies and processes will need to be aligned to those changes. In order to achieve this successfully the function works closely with other areas of the business such as Audit Risk Management, Central Risk, Office of General Counsel, Finance and Sentinel.
The role requires initiative and flexibility, suiting an efficient organiser.

The Manager will support the Head of Business Risk for Audit where the team will contribute to providing support to the Audit Function and the wider Audit Risk Management Function. This will include managing three Assistant Managers across the Audit Business Risk Function.

Risk MI and Risk Register – Assist the Head of Business Risk in:

• Contributing to the development, reporting and management of risk-related MI to support Audit and Risk leadership.
• Supporting Audit leadership in identifying risks and appropriate actions required to manage/bring back identified risks within risk appetites.
• Supporting the implementation and operation of strategic initiatives on portfolio management from commercial and/or risk perspectives.
• Providing risk updates and reports to the Head of Business Risk

Risk Operating System – Microsoft Dynamics (“MSD”)

• Managing the monthly and yearly data validation for audit
• Working with Firm-wide Ethics & Independence team to identify and resolve potential rotational breaches
• Managing the risk data within MSD, which will include identifying and rectifying risk errors
• To act as a Business Risk MSD Super User. You will be required to provide ongoing support, advice and training to engagement teams with regards to MSD engagement management set-up
• Management of data for monthly reporting which will include producing deliverables for both internal and external reviews to include Regulators
• Take ownership of the partner rotation process, working with Partners and Segment Heads. You will be required to identify potential regulatory breaches and escalate to the Head of Business Risk where appropriate
• Analysis and delivery of all Partner / Director succession planning
• Monitor the information currently held on the MSD system, ensuring that the information is set up correctly and challenge where appropriate
• Management of KGS as and when required
• Attend briefings and training sessions led by Central Audit Risk and communicate outputs back to the function
• Supporting and Advising Key Stakeholders of the Business as and when required

Annual Risk Review

• Supporting with output of the Annual Risk Review process in collaboration with Audit Risk
• Support the Head of Business Risk and leadership teams implement actions in response to findings from the Annual Risk Review process

Regulatory Reporting:

• Supporting the Head of Business Risk with ad hoc regulatory reporting
• Supporting the Head of Business Risk with requests from the Regulatory Affairs Department and responses to regulatory queries
• Management of non-financial sanctions
• Supporting requests for Regulatory Compliance Reviews which will include working with the audit teams to collate and analyse responses
• Record keeping of other regulatory requirements
• Management of Prudential Regulation Authority (“PRA”) and Financial Conduct Authority (“FCA”) resignation process

Ad Hoc:

• Support the Head of Business Risk to manage the responses needed for the monthly risk analysis and Other Entity of Public Interest (“OEPI”) tools
• Provide responses to ad hoc queries that arise from audit teams
• Continue to work on raising the profile of Business Risk across the Firm
• Review of Multi-Firm Engagement (“MFE”) arrangements and provide guidance to audit teams as and when needed
• Provide support with ad hoc projects
• Managing risk consultations and approvals for audit engagement team in line with the Firm’s policies and procedures, working in collaboration with Audit Risk.

Stakeholder Interaction & challenges:

The role will include interactions with senior leadership across audit, risk and engagement teams

Impact, Risk, Accountability & Governance:

This is a role with impact across the Audit Capability Group where there is accountability for significant projects within audit risk management. It may include preparation of reports and risk registers for senior leadership

Experience and Background

— Awareness of the different types of service delivered out of audit firms
— Decision making around engagement acceptance
— Understanding and documenting policies, processes and controls, identifying weaknesses and making and implementing recommendations
— Identifying and reporting on trends in data
— Project management of multiple workstreams alongside unpredictable consultation workload
— Able to get to grips with technical content including law, regulation, assurance standards, contracts and policy and recommend how to apply to practical scenarios
— Confident in exploring opportunities with engagement leaders
— Awareness of the nature and effect of key clauses in professional services contracts
— Advanced Microsoft Office Skills – particularly Excel

— Experience of delivering a range of services at manager level or above within a professional services firm
— Experience of performing risk assessments, scoring risks and preparing risk registers

Qualifications and Skills

— Educated to a degree level
— Risk Management Qualification desirable
— Recognised accountancy qualification desirable
— CISI / ICA Qualified – Desirable
— Experience in a busy team environment
— Experience of Microsoft applications and SharePoint.
— Excellent attention to detail
— Accountability – use own initiative to provide effective support
— Drive and Resilience – time management and organisational skills
— Building Relationships – good communication skills (both written and oral)
— Problem Solving
— Flexibility – adaptable to changing situations
— Team management
— Team working
— Project management
— Negotiation
— Experience of Microsoft Dynamics desirable but not essential

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