Senior Manager - Audit Risk Operations

United Kingdom
10 Feb 2021
03 Mar 2021
Job role
Experience level
Role and Responsibilities

This is a pivotal role in the Firm's Audit Risk Management team, closely supporting the Head of Audit Risk Operations in driving a step change in the efficiency and effectiveness of the core operational activities, whilst also supporting engagement teams with risk consultation queries across a range of topics and issues. Projects and change initiatives.

You will have significant input into and/ or lead a wide range of projects across Audit Risk Operations. Projects on the horizon include delivery of the Target Operating Model in Audit Risk Operations (including process rationalisation and improvement) and supporting the Firm's expansion in the non-audit Assurance and Accounting Advice offering ("AAA") from a risk support perspective.

Consultations & queries

You will be part of the Audit Risk Operations team, managing risk consultations and approvals for audit engagement team in line with the Firm's policies and procedures. The role includes leading the Audit Risk Management input into contracting in the Audit Capability Group.

Projects and change initiatives

- Process rationalisation and improvement projects across core processes, such as:
o Engagement acceptance
o Consultations and approvals
o Training and accreditation
o Implementing, monitoring and reporting on controls identified through the International Standard on Quality Management 1 ("ISQM1") implementation process.
- Support the Firm's expansion of the AAA offering from a risk perspective, including the development of a framework for implementing policies and processes that reflect the Firm and Audit Capability Group's risk appetite across key stages of engagement cycle
- Managing the risk in application of new IT audit tools in the audit capability
- Develop proposals for data-driven review of the audit portfolio, based on milestones incorporated into audit methodology, and of the non-audit portfolio within audit
- Leading the process for contract management and review in audit, including ownership of proforma engagement letters and content residing within automated contract production systems and continuing the process of moving the content of proforma documents into automated systems

Consultations & queries

- Handle approvals for and consultations with teams in the Audit Capability, applying judgment and making decisions within a framework for approval and escalation. Approvals may be across a range of areas including engagement acceptance and continuance (both audit and non-audit), accreditation, training requirements, acceptance of non-standard contract terms among others. Consultations may include acceptability of and scope of work for non-audit engagements
- Agree service levels for core services provided by audit risk management and monitor and report performance against these
- Identifying opportunities for off-shoring within audit risk management processes and implementing these
- Continuously identify quality and service level improvements in Audit Risk management and oversee creation of implementation plans for these

Leadership & Management:

You will manage the work of up to two managers and four administrators across various work-streams
Stakeholder Interaction & challenges:
You will report via the Audit Risk leadership team to the Chief Risk Officer for Audit. The role will include interactions with senior leadership in the Office of General Council ("OGC"), Audit and Risk, and engagement teams.

Impact, Risk, Accountability & Governance:

This is a role with impact across the Audit Capability Group and OGC, with accountability for significant projects within audit risk management. It may include preparation of reports and risk registers for senior leadership

Experience and Background


- Awareness of the different types of service delivered out of the Audit Capability Group and the key differences between financial statement audit and key non-audit services
- Experiencing delivering either financial statement audit or non-audit reporting engagements
- Decision making around engagement acceptance at manager level or above in an audit or professional services practice
- Understanding and documenting policies, processes and controls, identifying weaknesses and making and implementing recommendations
- Identifying and reporting on trends in data
- Project management of multiple workstreams alongside unpredictable consultation workload
- Able to get to grips with technical content including law, regulation, assurance standards, contracts and policy and recommend how to apply to practical scenarios
- Confident in exploring opportunities with engagement leaders
- Awareness of the nature and effect of key clauses in professional services contracts.


- Experience of delivering a range of services at manager level or above within an audit practice, for example non-financial assurance, grant reporting and agreed-upon procedures
- Experience of drafting and agreeing scope of work, liability and release of report sections in professional services contracts and hold harmless agreements
- Experience of performing risk assessments, scoring risks and preparing risk registers

Qualifications and Skills

- Recognised accountancy qualification
- Leadership
- Team working
- Project management
- Written and spoken communication
- Negotiation

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