Job description
Banking Accounting Advisory (BAA) is a team of Banking and Financial Services technical accounting specialists with extensive experience delivering expert accounting advisory services, financial reporting and regulatory change projects to major Tier-1 global banks, challenger banks and building societies. We have deep expertise in complex accounting within the Banking and Financial Services sector such as IFRS 9, hedge accounting, securitisations and other structured transactions, derivatives, and deal accounting for mergers and acquisitions and group reorganisations. We also provide SME advice on the critical interactions between IFRS and PRA/EBA regulatory regimes.
The team's experience enables us to anticipate and proactively address the future challenges in the Banking sector and our proven track record has resulted in significant growth which requires dynamic and skilled individuals to deliver.
Our team provides a wide range of accounting advisory services including the following:
- Technical accounting support on accounting and regulatory change projects such as IFRS 9, IFRS 15, IFRS 16, UK GAAP, FINREP, Pillar 3, Brexit, IBOR reform, and ESG reporting.
- Accounting advice on transactions and financial reporting such as on-call accounting advisory, design or review of accounting policy manuals and financial statements.
- Accounting advice with respect to securitisations and other structured transactions.
- Providing subject matter expertise support on multi-disciplinary finance transformation and deal advisory projects such as business structuring, group reorganisations, mergers and acquisitions. Accounting focus areas include IAS 32, IAS 38, IFRS 2, IFRS 3, IFRS 10 and the UK Companies Act requirements.
- Providing high quality and practical training and education for external and internal audiences.
- Providing valuable expert resources to clients to assist finance and reporting teams on the enhancement of financial reporting processes, implementation of complex finance changes or transactions requiring technical expertise.
Roles and Responsibilities
- Assist with the management of client opportunities, deliver live engagements and provide input into larger multi-disciplinary teams.
- Assist in responding to clients' ongoing ad-hoc technical accounting queries.
- Analyse client transactions or structures and perform detailed technical accounting analysis, including writing formal accounting opinions where required, e.g. structured transactions or deal accounting. You will assist senior management of the team to deliver these services to clients on complex transactions.
- Assist senior management in providing clients with advice on technical accounting issues and broader impacts of new accounting standards and regulatory changes.
- Write and review client reports based on analytical exercises (e.g. review of clients' technical accounting decisions, stakeholder interview) to present findings and recommendations.
- Assist clients in their implementation programme for new accounting change or development and post-implementation review programme through delivering client workshops/training, direct assistance in performing the assessment and/or review of clients' assessment, review of technical accounting and risk interpretations prepared by clients e.g. IFRS 9. You will assist senior management of the team to deliver these services to clients.
- Support the business development, client targeting, developing of KPMG's client propositions and thought leadership, and assist in the responses to client proposals, with a primary focus on Financial Services (in particular, Banking clients).
- Monitor, coach and develop others you work with on different engagements.
- Support senior management of the team with aspects of practice management.
- Research relevant technical and industry developments, participating in and facilitating internal and external technical training.
Qualifications and Skills
- Professional qualification: ACA, ACCA, CPA or equivalent.
- Strong technical knowledge of accounting standards related to financial instruments and/or relevant to Financial Services clients (IAS 39 hedge accounting, IFRS 9, IFRS 7, IFRS 13, IAS 32, IAS 38, IFRS 3, IFRS 10, IFRS 16, IFRS 15)
- Experience in the practical application of the above financial instrument accounting requirements within the Banking and Financial Services industry.
- Understanding of the Banking sector and UK and EU banking regulations and the critical interactions between IFRS and regulatory reporting.
- Excellent written and communication skills, particularly in writing technical accounting analysis or opinions, delivering presentations and an ability to communicate well with clients both in writing and verbally.
Experience and Background
- Relevant accounting advisory or technical accounting experience within Financial Services particularly in Banking, with a minimum of 1 years' experience in technical accounting in Banking. Any additional Financial Services experience such as asset management would be advantageous.
- Robust technical understanding of accounting standards related to financial instruments and/or relevant to Financial Services clients (IAS 39 hedge accounting, IFRS 9, IFRS 7, IFRS 13, IAS 32, IFRS 16, IFRS 15).
- Prior experience in the practical application of the above financial instrument accounting requirements within the Banking industry. Experience in IFRS 9 impairment process, derivatives or hedge accounting experience is desirable, as well as demonstrated experience in accounting change projects.
- Technical understanding of non-financial instruments accounting standards and other relevant requirements as relevant to deals accounting and finance transformation (IAS 38, IFRS 3, IFRS 10, IFRS 2, UK Companies Act requirements). Practical experience of application of these standards in the Banking industry is desirable.
- Understanding of Banking sector and UK and EU banking regulations and the critical interactions between IFRS and regulatory reporting. Prior experience with FINREP and other regulatory reporting within CRDIV would be advantageous.