Financial Risk and Controls Manager

PwC UK is one of the largest professional services providers in the UK with annual revenues of £3.5bn. The Financial Risk & Controls team forms part of the broader Financial Control function, which aims to protect PwC by instilling effectual financial control across the firm.

The Financial Risk and Controls Manager has a direct reporting line to Senior Managers within the FR&C team.

FR&C'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 Financial Risk and Controls 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:

• identifying financial risks, designing and implementing appropriate mitigating controls in partnership with key stakeholders;
  
• advising on and assessing financial risks, stewardship of the firm's resources and compliance with regulatory/contractual requirements
  
• monitoring the ongoing effectiveness of the firm's financial control framework
  

The FR&C Manager works collaboratively with a range of senior stakeholders across the firm including the firm's Financial Controller, line of service (LoS) Finance Directors, 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 role covers a number of areas with two key areas being, but not limited to:

1. Revenue recognition and IIC:

A deep understanding of IFRS 15 in order to:

• Lead reviews of large and high risk engagements to ensure that the correct accounting treatment is achieved in line with the firm's revenue recognition accounting policy and IFRS
  
• Update the firm's revenue recognition accounting policy for emerging revenue streams
  
• Develop and deliver training and training materials, provide proactive insight and expertise, give guidance and challenge in order to achieve the correct accounting treatment under IFRS
  
• Facilitate the external audit review of engagements
  
• Drive quality control
  
• Knowledge share and work collaboratively on joint initiatives with finance colleagues from the PwC network
  

2. Identification of 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;

• Identifying risks, utilising knowledge of industry issues and expected future trends and analysing how these may impact on the business
  
• Work with key stakeholders and SMEs to scope, design, and implement controls to address key risks and ensure design adequacy and operating effectiveness of financial controls
  
• Automation of existing manual controls, to enhance and continuously improve the design and effectiveness of controls, including efficiencies in documentation, assessment, and testing of controls
  
• Ownership and development of the internal controls framework. Work with both internal and external audit to ensure the effectiveness of the controls are tested and the resolution of any audit findings
  
• Providing robust counsel on the large range of financial compliance and controls scenarios encountered across the firm's activities
  

Other areas include:

• Compliance with regulation and contractual commitments
  
• Independent oversight of treasury activities
  
• Client monies
  

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;
    
  • 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