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Senior Manager - Audit Regulatory Affairs

Date: Apr 15, 2021

Location: London, United Kingdom

Company: KPMG UK

Role and Responsibilities

Regulatory affairs

As the Firm moves towards operational separation and the FRC establishes their continuous supervision processes, we need a Senior Manager that can work with a wide range of senior internal and external stakeholders to ensure communications are accurate and timely.

Consultations & queries

You will be part of the Audit Risk Management team, managing risk consultations and approvals for audit engagement team in line with the Firm’s policies and procedures. The role includes leading the Audit Risk Management input into contracting in the Audit Capability Group.

Regulatory affairs

— Manage requests from the regulator and co-ordinate responses internally.
— Oversee the register of regulatory commitments and hold action owners to account across the business, whilst maintaining a robust stakeholder management process.
— Prepare monthly updates for key governance bodies, including the Audit Executive and the Risk Executive.
— Co-ordinate briefings for senior partners’ attendance at regular Financial Reporting Council meetings (e.g. Chairman, Chair of Audit Quality and Head of Audit).

Consultations & queries

— Handle approvals for and consultations with teams in the Audit Capability, applying judgment and making decisions within a framework for approval and escalation. Approvals may be across a range of areas including engagement acceptance and continuance (both audit and non-audit), accreditation, training requirements, acceptance of non-standard contract terms among others. Consultations may include acceptability of and scope of work for non-audit engagements

You will manage the work of up to two Managers and four Administrators across various work-streams and report
via the Audit Risk leadership team to the Chief Risk Officer for Audit. The role will include interactions with senior leadership in the Office of General Council (“OGC”), Audit and Risk, and engagement teams

This is a role with impact across the Audit Capability Group and OGC, with 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 the Audit Capability Group and the key differences between financial statement audit and key non-audit services
— Experiencing delivering either financial statement audit or non-audit reporting engagements
— Decision making around engagement acceptance at manager level or above in an audit or professional services practice
— 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
— Experience of delivering a range of services at manager level or above within an audit practice, for example non-financial assurance, grant reporting and agreed-upon procedures
— Experience of drafting and agreeing scope of work, liability and release of report sections in professional services contracts and hold harmless agreements
— Experience of performing risk assessments, scoring risks and preparing risk registers

Qualifications and Skills

— Recognised accountancy qualification
— Leadership
— Team working
— Project management
— Written and spoken communication
— Negotiation

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