Job description
Role- Macroeconomics CoE- Analyst
Location- London
The KPMG Audit function is a cornerstone of our business. We do work that matters to our local business and communities - supporting investment and economic growth across the Midlands. Working on complex audit engagements, which could include big retailers, UK banks, Insurance Houses and multinational organisations, our team strives to provide best-in-class Audit solutions to audited entities who trust us to get it right first time.
KPMG is one of the world's largest and most respected consultancy businesses, we've supported the UK through times of war and peace, prosperity and recession, political and regulatory upheaval. We've proudly stood beside the institutions and businesses which make the UK what it is.
Within this are the Audit Centre of Excellence (ACE Technical) comprises the quality support and technical specialists for the UK audit practice. We provide expertise and support across a wide range of activities from undertaking quality reviews to the development of new digital solutions and from resolving audit technical issues to supporting effective audit delivery.
Within audit we see opportunities to expand the use of macroeconomic scenarios to work on insurance audits, climate risk and in the areas of impairment and going concern on a case-by-case basis. The work will involve an assessment and development of economic scenarios for IFRS9 purposes, going concern, impairment testing, claims inflation, climate risk etc to appropriately challenge the economic assumptions considered by audited entities and allow audit teams to reach a robust conclusion.
What will you need to do it?
KPMG is seeking an Analyst to join our Macroeconomics support team in Audit. The role will encompass supporting the delivery of high quality macro-economic analysis:
Assessment and development of economic scenarios for IFRS9 purposes and stress testing regulatory exercises using macroeconomic and econometric models.
Enhancement and development of in-house econometric models (statistical, structural economic models) with an understanding of accreditation of these tools for audit use
Production of thought leadership highlighting key trends and risks at sector and business level
Clear and effective communication about economic concepts and findings to non-economist audiences, verbally and in writing
What will you need to do it?
Gathering and updating economic datasets, and preparing data for analysis and estimation
Supporting the enhancement of in-house economic and statistical models
Reperforming the model output using model codes developed independently from an entity's documentation and an appropriate software package (R, Python)
Supporting the development new tools for forecasting macroeconomic variables
Writing documentation for quantitative and economic testing in a clear and succinct manner
Additional skills we'd love to see.
An undergraduate degree in Economics
A master's degree in economics
A minimum of 2 years of engagement within a macroeconomics team/unit at a professional services company, Central Bank, or Think Tank
Strong understanding of primary sources of global and UK macroeconomic data sources and data providers
Ample experience in data wrangling and cleaning datasets for time series estimation purposes (, data transformation, pre-estimation tests)
Experience using R and Python for the estimation of time series and structural models such as Dynamic Factor models and Structural VARs
Excellent communication skills, both orally and in writing
Ability to clearly explain complex economic concepts in clear, simple terms, and apply economic concepts and techniques to real world situations.
Practical experience developing climate models that effectively incorporate physical and transitions is desirable.
To discuss this or wider Audit roles with our recruitment team, all you need to do is apply, create a profile, upload your CV and begin to make your mark with KPMG.
Where will you be working?
London
With 20 sites across the UK, you will be working from a KPMG office, client site and some flexible working, and part-time options. If you have a need for flexibility, please register and discuss this with our team.
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