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Manager, Restructuring – Employer Covenant Review Team

Date: Jul 30, 2019

Location: London, United Kingdom

Company: KPMG UK

Summary of Role Purpose

KPMG’s Restructuring Employer Covenant Review Team are looking for a Manager to join our expanding National team, with this role based in London.

The Restructuring Employer Covenant team is currently made up of approximately 15 people, led by a partner and three directors. The team is targeting significant growth over the next few years.

Work in this specific role centres 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 the funding shortfall.

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.

We work for both trustees and corporates, including some of the largest and most complex businesses in the UK. Our work falls into three areas:

1) Assessing the financial strength of the business supporting the scheme for the trustees or helping the corporate present their financial strength to their scheme trustees/advisors;

2) Assessing the impact of corporate activity on the level of financial support offered to the scheme – e.g. understanding the impact of M&A activity, business reorganisations, refinancings, etc. Again, we work for both corporates and trustees, often helping to design and implement structures and solutions; and

3) Dealing with situations where the size of the scheme threatens the ability of the sponsoring company/group to be able to continue to trade. This requires innovative solutions, robust financial analysis and excellent negotiation skills.
We work closely with other parts of KPMG including Pensions Advisory, Transaction Services, Corporate Finance and various sector teams. In many situations, a multi-functional team is deployed.

The role requires strong accounting analysis, report writing skills and a commercial mind-set.

Applicants should be ready to work in a dynamic, flexible and fast paced environment. 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.

Description of the Role

Key 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.

The Person


• Strong commercial and business acumen, with evidence of experience;
• Demonstrable experience in leading workstreams, advising and working alongside a range of stakeholders;
• 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

Expertise/Technical role requirements

• Strong financial and analytical skills, with relevant accountancy qualification.
• 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;


• Ability to work innovatively and ‘self-start’;
• 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;

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