Summary of Role
KPMG’s Pensions Centre of Excellence (PCoE) is an exciting initiative which was established to standardise the audits of defined benefit pension plan balances, driving consistency and ensuring delivery of high-quality audits.
We are now looking for talented analysts to join our Actuarial Specialists team. You will be responsible for delivering high quality specialist actuarial pensions support to KPMG Audit in relation to defined benefit pension schemes sponsored by KPMG audited entities. This covers the full process, from planning through execution, review and to conclusion, across a broad portfolio of entities.
You will be a key contact with the audit assist team within the PCoE as well as the central KPMG audit team, with responsibility for maintaining the day-to-day relationship with them and ensuring delivery to agreed timescales. You’ll also work with actuarial specialists across all of KPMG's UK offices, our offshore team who assist with delivery of work, external experts, and audit entity pension teams.
Description of the Role
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Gain understanding of defined benefit pension schemes and actuarial liability calculations
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Gain understanding of accounting for pensions, KPMG pensions audit procedures and wider audit issues through regular training
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Responsible for inputting clients’ accounting results and assumptions into central models used to test reasonableness of disclosed results
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Running checks to assess reasonableness of actuarial assumptions and accounting results, using KPMG developed tools.
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Use model outputs to generate initial draft issues reporting
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Support team in day-to-day running of cases, including general administration and tracking of procedures versus timeline
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Supporting audited entity engagement teams to deliver audit cases (from initial scoping with central audit team to final delivery of audit reporting) and contributing to the overall success of the team.
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Developing specialist technical knowledge and contributing to research and knowledge sharing in one or a number of key areas (e.g., 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).
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Developing a detailed understanding of KPMG’s audit procedures and ensuring procedures are followed accurately.
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Maintaining regular, open and honest communication whilst working together with the lead audit team and the audit entity.
Role Dimensions
Technical core competencies required for the role
Our Global Audit & Assurance Technical core competencies provide clarity and consistency of expectations to ensure the minimum audit technical requirements are being met by level to drive Audit Quality, which is fundamental to achieving our ambition to become the most trusted and trustworthy firm. The relevant competencies for this role are:
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Technical knowledge: Understands relevant technical accounting and financial reporting standards, regulations and accounting literature. Exhibits and stays current on appropriate industry and specialised knowledge, and leverages KPMG methodologies.
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Technology skills: Uses firm-approved audit tools and innovative technology solutions to increase audit quality, productivity and data insights.
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Professional scepticism and issue identification: Applies professional scepticism, objectivity and independence to identify and support resolution of potential audit issues.
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Documentation: Completes audit documentation demonstrating an unwavering focus on audit quality.
People & Culture
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Embrace and embed our culture ambition of high challenge, high support which is grounded in Our Values.
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Operate with a curious and sceptical mindset ensuring that this is embedded in your everyday work.
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Actively lead and embed a coaching culture to get the best out of others in an environment where everyone in the team feels empowered to speak up or challenge where appropriate.
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Be accountable, professional and act in the public interest, working for the benefit of shareholders of audited entities and wider society.
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Be inclusive and embrace the opportunity to work with other teams within Audit and across the firm in an integrated way. Have a sense of community, purpose and fun.
The Person
Experience and Knowledge Requirements
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Experience of working in pensions accounting and / or audit at either an employee benefit consultancy or other Big 4 firm. (D)
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Basic knowledge of defined benefit pension scheme valuations, roll forward methodologies and actuarial techniques. (D)
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Understanding of the wider UK pensions landscape, the FRC audit environment and the issues facing our stakeholders. (D)
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IT literate with sound knowledge and experience of MS Office tools (Excel, PowerPoint and Word). (E)
Behavioural Attributes and Skills
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Excellent written and verbal communication skills; able to communicate complex matters in a clear and compelling manner.
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Highly effective stakeholder management and relationship building skills; credible and confident with stakeholders at all levels.
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Strong organisational and time management skills; able to work effectively in a fast-paced environment with conflicting priorities and deadlines.
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Self-driven and resilient; able to thrive in a high-pressure environment.
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Effective problem solver; makes pragmatic and logical decisions, drawing on own and others’ technical expertise to provide high quality solutions.
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Strong analytical and numerical skills; able to analyse and interpret complex technical statistical information, with a focus on quality, attention to details and accuracy in calculations.
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Effective team working skills; works collaboratively with others towards shared goals.
Qualifications
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Undergraduate degree with a mathematical / financial nature (E)
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Part qualified actuary having passed some FIA exams (or equivalent). (D)
E – Essential, D – Desirable