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Project Director - AMS Governance Specialist

Job Title: Project Director - AMS Governance Specialist
Contract Type: Permanent
Location: London
Industry:
Salary: 92920
Reference: AMSGov
Contact Name: Lisa Newland
Contact Email: recruitment@frc.org.uk
Job Published: June 17, 2021 14:18

Job Description

The Financial Reporting Council (FRC) is responsible for the regulation of UK statutory auditors and audit firms and for monitoring developments, including values and culture, in the market. We aim, through our supervision and oversight, to develop a fair, evidence-based and comprehensive view of these firms, to judge whether they are being run in a manner that enhances audit quality and supports the resilience of individual firms and the wider audit market. We adopt a forward-looking supervisory approach to audit firms, and we hold firms to account for making the changes needed to safeguard and improve audit quality. Further information about the role of the FRC can be found at www.frc.org.uk.

 

Audit Market Supervision (AMS) takes a cross-market approach to areas of importance to audit quality and firm resilience, assessing the effectiveness of the audit firms’ arrangements in the following areas:

 

- Governance and leadership

- Values and culture

- Risk and resilience

- Financials & KPIs

- Operational separation

 

Staff have a range of backgrounds (governance, culture, risk management, internal audit, regulation, and audit) representing the broad subject matter within the team’s remit.

The AMS team are seeking to appoint a Project Associate to work with the Project Director and Culture Lead on the assessment and monitoring of culture at the audit firms. This is an exciting opportunity to work within a new area of audit market supervision and shape the future development of the audit profession.

 

Responsibilities:

The role involves developing and delivering projects in the AMS framework and contributing to the management of the AMS relationships with the firms. This will include:

• Leading projects in the Governance & leadership pillar, particularly updating and assessing the effectiveness of the Audit Firm Governance Code;

• Contributing to projects in some or all of the other pillars, in particular to support the team’s work on culture, values and behaviour;

• Identifying key findings from our monitoring activities and presenting effectively (both in writing and orally) to the large audit firms to achieve change;

• Assessing the effectiveness of the governance aspects of the Operational Separation of largest audit firms and

• Engaging with senior leadership and Independent Non-Executives of the largest audit firms at regular meetings and producing the record of this engagement.

We are seeking an individual with experience in supervision of financial services entities (particularly the governance aspects) or with experience in assessing the governance at large companies or other entities.

 

Skills Required:

A relevant degree and/or professional qualifications, as well as experience working in professional services or a regulatory field are required. The ideal candidate will have:

• Knowledge and expertise in:

o Corporate and/or audit firm governance (ICSA qualification would be advantageous);

o how the largest accountancy firms are structured and manage their businesses;

o how corporate or professional services firms consider cultural and behavioural matters would also be advantageous.

• Awareness of the UK regulatory environment for companies and their auditors, the capital markets, and limited liability partnerships

• Ability to assimilate complex information and identify themes

• Ability to learn quickly about new topics and develop expertise

• Excellent written and oral communication skills

• Strong project and time management skills

• Excellent IT skills (particularly Excel and Word)

 

The role is based in our Central London Office however remote working arrangements will also be considered. The post holder should be able to work flexibly and contribute to FRC-wide initiatives as necessary.

 

Rewards and benefits

• The FRC offers competitive remuneration packages, including 30 days annual leave plus the ability to buy extra leave.

• The FRC has a strong work/ life balance ethos.

 

The FRC believes that equality of opportunity and diversity is important in the work that we do and we are strongly committed to being an inclusive employer. Our values of being fair and independent support this commitment. We're a signatory to the Government's Disability Confident scheme, which means that we guarantee an interview to any disabled candidates entering under the scheme, should they meet the minimum criteria for a role.

Equal opportunities monitoring is an important means of demonstrating and implementing our commitment to promoting equality of opportunity and diversity. Completing our diversity form will assist the FRC to identify any barriers that prevent access to employment and career development for certain groups of people, and to develop solutions, such as action plans, new policies and practices.