Skip to main content

Financial Risk Mitigation Manager

Posted: 8 Jun 2021 Closes: 9 Jul 2021
London Competitive
Permanent & Full-time PwC_215819WD-int

The Financial Risk Mitigation team ('FRM') forms part of the broader Financial Control function, which aims to protect PwC by instilling effectual financial control across the firm. The FRM Manager has a direct reporting line to the Head of FRM.

FRM's overarching objective is to ensure that an effective and efficient framework of financial controls is in place to mitigate financial risk across the firm's broad range of activities. The FRM Manager plays a pivotal role in driving an ethos of financial risk management discipline across the organisation and in providing leadership and direction in carrying out the following primary responsibilities:
  • advising on and assessing financial risks, stewardship of the firm's resources and compliance with regulatory/contractual requirements;
  • designing and implementing appropriate mitigating controls in partnership with key stakeholders;
  • monitoring the ongoing effectiveness of the firm's financial control framework.

The FRM Manager works collaboratively with a range of senior stakeholders across the firm including the firm's Financial Controller, LoS Directors of Finance, LoS Finance Leaders, Internal and External Audit, Risk & Quality, Office of General Counsel and Accounting Consulting Services.

The broader internal finance function comprises circa 350 professionals working across specialisms that include business partnering, controllership, taxation, treasury, procurement, strategy and planning.

Scope of responsibility and range of impact

The PwC UK firm is one of the largest professional services providers in the UK with annual revenues of ~£3.5bn. Revenue recognition and the valuation of client balances are key areas of focus for the FRM Manager, including:

Revenue recognition and IIC
  • Ownership of the firm's revenue recognition accounting policy and responsibility for the development of policies and guidance for emerging revenue streams.
  • Defining the financial control framework for revenue recognition and IIC and leading the key central monitoring controls owned by FRM and the wider Financial Control team.
  • Leading reviews of large and high risk engagements to ensure that the correct accounting treatment is achieved.
  • Providing proactive insight, expertise and training to engagement teams and Business Decision Support ('BDS') on revenue policies and guidance, and guiding and challenging them to achieve the correct accounting treatment under IFRS.
  • Developing effective technology-enabled tools to further the business' understanding of the revenue recognition policy and its application.
  • Relationship management with key stakeholders.
  • Driving quality control.
  • Delivering key, risk-focused messages.
  • Facilitating the external audit review of engagements.
  • Knowledge sharing and working collaboratively on joint initiatives with finance colleagues from the PwC Middle East and PwC Channel Islands subsidiaries.

Identification of new risks and implementation of mitigating controls
  • Identifying key financial risks across other areas of the firm's activities and ensuring that they are adequately mitigated, including;
  • Promoting FRM's strategy for identifying risks, utilising knowledge of industry issues and expected future trends and analysing how these may impact on the business.
  • Working in collaboration with other areas of OneFinance and the wider business to establish and implement controls to mitigate emerging risks.
  • Ownership of the key risks and controls framework and additional supporting documents such as the BDS risk matrix. Establishing effective monitoring controls to ensure compliance with the framework.
  • Maintaining a robust framework/network for identifying emerging risks.
  • Providing robust counsel to the managers in the wider Financial Control team on the large range of financial compliance and controls scenarios encountered across the firm's activities.

Essential skills and experience
  • A relevant accounting qualification (ACA, ACCA, CIMA or equivalent) is essential with experience in financial controls and accounting, either from within industry or as an auditor.
  • Demonstrable expertise in:
- financial process, best practice and associated controls;

- financial process design, including designing and implementing new controls;

- risk identification, assessment and mitigation; and

- financial reporting requirements, specifically IFRS is essential.
  • Experience managing projects of varying size and complexity, communicating effectively with a range of stakeholders.
  • Demonstrating the right level of technical and personal skills to be both an effective advisor to the business and an enforcer of policy.
  • Ability to understand the root cause of issues and identify the right course of action.
  • Strong planning and organisational skills, as well as excellent attention to detail.
  • Experience in using innovative technical solutions to solve problems.
  • Strong influencing skills and the confidence to challenge senior stakeholders.
  • Strong communication skills, both verbal and written.
  • Ability to build and maintain relationships of trust with colleagues and stakeholders.
  • Ability to manage and develop team members, providing support and training and demonstrating personal resilience.
If you would like help and advice about applying for this role please visit the Career Hive

Share Job

If you would like help and advice about applying for this role please visit the Career Hive