Job Title: Senior Associate
Location: USA
Submitted on: 10-Jun-04
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| Senior Associate |
Culture: I am in the Financial Risk Management (FRM) group. This group
does not operate the same way that the audit or more established parts
of the firm work. The FRM group is part of the Risk Advisory Services
(RAS) group. The culture in this group is very much like a high charged
consulting firm rather than an accounting firm. Men who are insecure in
their manhood may find the environment intimidating. Women who are
passive may feel threatened. Men and women who know their topic and have
strong skills, and don't mind putting in a hard day's work should thrive
in the environment. If you are Type A, have a solid financial risk
background, like to travel, and have a solid self-image you should be
fine. Speaking of travel, the FRM group travels constantly. I typically
leave Monday morning on the 6AM flight and come home Thursday night
around midnight. Fridays are frequently occupied with deskwork and
conference calls. Fortunately, much of this can be done from my home
office so I often go into the office only once every two weeks just to
check mail and say hi to friends. Some engagements require travel
Monday Friday. Sometimes the employee has little or no choice and just
has to be gone all week. This can get frustrating at times, but thats
why they pay well.
Dress Code: When on the client site the dress code is
informally: slightly better than the client. Usually this means
business casual with pressed shirt and pants. I wear a jacket but
typically leave it on the back of my chair. In the summer I am wearing
polo shirts and khaki pants frequently. When I visit a prospective
client I wear a suit or at least a jacket and tie. In the local office I
typically wear chinos and a polo or pressed collared shirt. I am only in
my local office every few weeks.
Hours: Within the FRM group the billable hour expectation for different
levels of seniority are as follows:
Associate: 70-80 %
Sr. Associate: 65-70%
Manager: 60-65%
Sr. Manager 55-60%
Keep in mind that these values are ONLY for the FRM group. Chargeability
is based on the following equation: Total possible hours in a year: 52
weeks * 40 hours in a week = 2080. So 100% chargeability is billing 2080
hours in a year. One of the common complaints is that taking vacation
counts against chargeability. Of course it does. But look at it this
way, if you bill 40 hours a week, every week, you can take your
allocated 5 weeks of vacation and still be 90% chargeable. The trick is
to remain billable when you are not on vacation. The key to this is
networking among the Managers and Sr. Managers and keeping yourself
billable. There is work that is nonbillable that must be done in any
firm but I track every day how much I have billed and where I am with my
goals and have not seen any problems.
Opportunities for Advancement: The FRM group rewards billing hours and
bringing in clients. Below is the exact content of a memo sent around
the FRM group on what it takes to be promoted to each level. This didnt
come from my group but it is a good guideline for the whole practice. I
won the $250 dollar Vault prize for this info!
Performance Responsibilities Guidelines by Level
The following responsibilities by level represent minimum requirements
to be considered for an SP rating. In order to be considered for
an EP rating, resources will have to significantly exceed these
minimum requirements.
Senior Manager
- Generate $800k in managed revenue. Managed revenue must be self-
generated through sales presentations and/or add-on work.
- Maintain 55% chargeability for self, 65% chargeability for the FRM
practice
- Responsible for performance management/mentoring of FRM resources (at
least 2)
- Recognized as a leader in the FRM practice
- Active relationship building with 1400 targets (at least 2)
- FRM product owner and marketing plan developer
- Maintain high core values (e.g., responsiveness, honesty, open and
honest communication, etc.)
- Develop and maintain connectivity in resident region (or region where
you are assigned long term) with BMP, Tax, RAS, etc. practices.
- Timely billing, receivables and workpaper completion
- Consistently marketing FRM capabilities internally and externally
- Lead and generate major proposal development efforts
- Timely KPMG admin standards (e.g., Krisk, Kprice, Sentinel, conflicts
check, etc.) completion
- Work closely with EMC to focus on timely billing and collections
- Participate in recruiting and developing staff
- Keep performance manager and practice leader informed and effectively
communicates with staff
- Demonstrate the ability to plan and execute complex engagements
To be considered for promotion to Senior Manager (from Manager) the
following minimum requirements must be met:
- Need for additional Senior Manager(s) exist within FRM
- Consistently generate in excess of $800k in managed revenue resulting
from self-generated sales and/or add-on work
- Known in a region as an FRM goto person
- Possess strong core values
- Knowledgeable and have executed KPMG quality assurance and risk
reduction processes (e.g., Krisk, Kprice, Sentinel, workpapers, WIPs,
etc.)
- Active relationship building with a 1400 target (at least 1)
- Receive positive client and Senior Manager feedback for engagement
execution throughout the year
Manager
- Generate $500k in managed revenue. Managed revenue must be self-
generated through sales presentations and/or add-on work.
- Maintain 60% chargeability for self, 65% chargeability for the FRM
practice
- Responsible for performance management/mentoring of FRM resources (at
least 1)
- Actively network in resident office/region
- FRM product owner and marketing plan developer
- Maintain high core values (e.g., responsiveness, honesty, open and
honest communication, etc.)
- Timely billing, receivables and workpaper completion
- Consistently marketing FRM capabilities internally and externally
- Lead and generate proposal development efforts, including timely KPMG
admin standards (e.g., Krisk, Kprice, Sentinel, conflicts check, etc.)
completion
- Participate in recruiting and developing staff
- Keep performance manager and practice leader informed and effectively
communicates with staff and within KPMG
- Demonstrate the ability to plan, execute and manage engagements and
staff
- Demonstrate the ability to develop and actively participate in sales
presentations
- Receive positive client and Sr. Manager feedback throughout the year
- Work closely with EMC to focus on timely billing and collections
- Support RAS services sales efforts with 1400 targets
- Competent in contract matters (e.g., WIPs, etc.)
- Sustains high performing positive team environment
- Actively participates in recruiting and staff development
- Be competent in multiple technical areas
To be considered for promotion to Manager (from Sr. Associate) the
following minimum requirements must be met:
- Need for additional Manager(s) exist within FRM
- Participate in 2 in person sales calls throughout the year
- Develop 3 proposals throughout the year
- Assume an active role in engagement deliverable development and
revision
- Knowledgeable and have executed KPMG admin standards (e.g., Kprice,
Krisk, WIP reports, invoicing, workpapers, etc.)
- Maintain connectivity in resident region (or region where you are
located for a long term assignment)
- Maintain strong core values
- Contributed toward FRM revenue through add-on sales and/or sales
presentations
Senior Associate
- Maintain 65% chargeability
- Assist to develop proposals and sales presentations
- Maintain a positive and motivated attitude
- Maintain connectivity with local office staff and FRM management team
- Receive positive client and/or manager feedback
- Assist to generate revenue through add-on work and/or participation in
sales presentations
- Contribute to overall engagement realization and performance
- Deliver timely and quality services, that meet or exceed team
managers and client expectations
- Demonstrate the ability to manage and provide leadership on an
engagement
- Build personal expertise and knowledge across team
- Knowledgeable in contract requirements (e.g., Krisk, Kprice,
workpapers, etc.)
- Demonstrate ability to be a team player
- Keep performance manager informed and effectively communicates within
organization
- Maintains strong core values
- Competent in the core service areas within FRM
- Continually improve knowledge and skill proficiency
- Actively perform as a self-directed learner
Associate
- Maintain 70% chargeability
- Maintain a positive and motivated attitude
- Learn FRM deliverables style, content and presentation
- Develop an understanding of and compile workpapers
- Maintain strong core values
- Gain an understanding of and build strong competencies in FRM products
- Develop and deliver timely and quality deliverables that meet or
exceed team managers and clients expectations
- Support business development activities and ad-hoc manager requests
- Develop client relationship skill sets
- Demonstrate ability to interact with clients
- Demonstrate ability to understand client needs and perform sound
technical work
- Work well with others
- Keep performance manager informed and effectively communicates within
organization
- Actively perform as a self-directed learner
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