Macroeconomics CoE - Analyst

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., 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

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 (e.g., 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.

Why Audit at KPMG?

Audit is the largest of our UK practices. Some of the world's biggest companies rely on us to provide independent insight, challenge and expertise, so the work we undertake affects investment decisions, inspires confidence in public sector expenditure and supports our economic growth. Today, more than ever in disruptive times, audit is a function needed by society, and in the future, so we can capitalise, and grow. As part of the Audit team, you'll be helping to build the confidence and trust that business and society need to thrive. We want to lead the conversation when it comes to shaping the future of the profession. And given the scale and variety of our audit engagements in both the UK and globally, we are well placed to create change. If you share our commitment to achieving excellence and working to the highest audit standards, are a natural collaborator who values different perspectives and relishes the opportunity to develop and progress -
then KPMG could be the place where you can thrive.
Read about Audit