Post on 07-Apr-2018
transcript
8/6/2019 Maxim is Ing People Power
1/24
Maximising people power:
eective talent management in fnance
ACCOUNTANTS FOR BUSINESS
A joint report by ACCA and KPMG
8/6/2019 Maxim is Ing People Power
2/24
2
Foreword by ACCA
As the global body or proessional accountants, ACCA
recognises the value that eective fnance unctions can bring
to every organisation. Whether in times o economic growth,
recession or gradual recovery, fnance proessionals need to
provide the inormation required by managers to make strategicdecisions and achieve day-to-day operational success.
Each member o the fnance team has an important role to play, whether striving
to be an inuential business partner, meeting fnancial reporting requirements or
delivering efcient transaction processing. The challenge is to create the appropriate
fnance unction structure and provide the necessary support to enable each individual
to deliver their role most e ectively. This requires a holistic approach to talent
management the implementation o integrated talent practices that bring together
the goals o the organisation and the needs o the individual.
This report has been produced through a successul collaboration between ACCA and
KPMG, drawing on both organisations insights and experience. It sends some clearmessages about the importance o integrated talent management or fnance, and
directly supports ACCAs global programme in 2011, Accountants or Business.
It should leave no doubt that developing talent is a vital issue or all fnance leaders,
and one that must be addressed i fnance unctions are to ulfl their potential and
provide the necessary support their organisations need to thrive in this increasingly
complex and challenging world.
H BdChie executive, ACCA
8/6/2019 Maxim is Ing People Power
3/24
3maxmsng people power: effectve talent management
n fnance
FEW
The perormance o the fnance unction is invariably crucial
to the success o almost every organisation. This is something
we see consistently across the globe and at KPMG we have a
long track record o working with clients to build the capability
and impact o their fnance communities and through that, todeliver improved business perormance.
Finance directors are under increasing challenge to deliver maximum return on
investment in capability, and there is a universal desire to boost the strategic
and commercial impact o the unction; to move rom being a reactive provider
o management inormation to a proactive value-adding unction that shapes the
strategic agenda.
At KPMG we work with clients to do just this. And experience has highlighted several
key elements to our approach that make a dierence: our advisors have a deep
understanding o fnance unctions the roles, the processes, the outputs and we
tailor our activity accordingly. We dont do boilerplate.
We also take a holistic approach to talent management, looking at organisational
structures and career paths and competency rameworks as well as learning and
development interventions. And everything we do is aligned to the organisational
strategy and current situation.
ur work with ACCA has highlighted that these are consistent themes globally. This
report looks to summarise the key trends, with some suggestions and examples o
how companies and organisations have used a strategic approach to fnance talent
management to generate a competitive advantage or their organisation.
mk wii lih
Head o people & change, KPMG LLP (UK) Partner, KPMG LLP (UK)
Foreword by KPMG
MarkWilliamson
IanLithgow
8/6/2019 Maxim is Ing People Power
4/24
4
8/6/2019 Maxim is Ing People Power
5/24
5maxmsng people power: effectve talent management
n fnance
eui uy 6
dui 8
t i 2011 9
th bi iu: ii di 10
c udy: i i 11
fi ui i 13
sui h ii 14
c udy: d h bui 15
d 17
c udy: biiy k
j UK buidi iy 19
th di y 21
cui 22
Contents
CTET
8/6/2019 Maxim is Ing People Power
6/24
6
Executive summary
This report provides a ollow-up to a March 2010 ACCA survey on talent management
practices across the fnance proession1. A key fnding o this research was that less than 20%
o organisations had a talent strategy that ully integrated talent identifcation, development,
deployment and retention activity across the fnance team. Most talent management practiceswere ound to be inormal, sometimes run in isolation, and oten unctionally based without being
part o an integrated, wider plan.
1 Talent management in 2010: foundations for growth, ACCA 2010
2 The value creation model for business: 2010 and beyond, ACCA 2010
This is a concern because fnance unctions now have a real
opportunity to make a dierence to their organisations success
whether in private or public sector, listed multinational or
ME. The economic crisis provided heightened visibility o the
value that proessional accountants bring, and the next decade
presents an enormous opportunity or fnance proessionals to
help create and sustain long-term value or organisations. But
this goal depends on the people within fnance and the way
that the organisation develops and applies their talents. In an
economic environment ocused on cost, the ability o employers
to realise and leverage the talent within their fnance unctions
will be more important than ever.
Integrated talent management brings together all three elements
o the value creation cycle2 that ACCA has previously identifed:
people, perormance and proessionalism. It recognises the
importance o identiying people with talent and potential, and
o creating targeted development opportunities.
It links recruitment and development structures with
competency rameworks, perormance appraisals and rewardsystems, creating clear standards and reerence points so
that a culture o high perormance can be developed. These
practices also help organisations sustain value, because great
talent programmes ensure the right behaviours and promote the
importance o proessionalism. Finance proessionals play a key
role in sustaining value or the long term, adjusting their ocus
according to the changing environment in which they work
and the challenges it creates. Integrated talent management
rameworks are an essential ingredient to creating and
sustaining value or the long term.
This report looks at how talent management can shape and
inuence the structure o fnance unctions, and highlights the
practices organisations should be adopting in order to deliverthe best possible talent development or fnance proessionals.
wH talent management matters
Talent management is high on the agenda or many CFs
because o the signifcant challenges aced by fnance
unctions. Finance teams are under various pressures: to
minimise their own costs as well as costs organisation-wide,
to generate maximum value in a period o slow economic
growth and to position the company to take opportunities that
arise as economic conditions improve, and to respond to new
regulatory and tax pressures around the world. In order to meet
these challenges and maintain a motivated pool o fnance
proessionals, CFs need to establish great talent practices.
talent management wtHn fnance
restrUctUrng
In order to improve fnance unction e ectiveness, CFs
typically consider restructuring fnance operations. The
preerred operating model or fnance will be determined
in part by the characteristics o the organisation and the
wider economic environment. However, talent management
must be incorporated into any planning or fnance unction
restructuring. The success o moves to streamline fnanceactivity, reduce transaction costs or improve the ability o
fnance to provide insight to operational managers depends
ultimately on the availability o individuals with the right mix
o knowledge and experience which must be acilitated by
eective talent management. Furthermore, the uture demands
and needs that will be placed on the fnance unction will
require dierences in the way talent is identifed, determined
and developed.
fnance fUncton effectveness
A CFs preerred model or fnance could incorporate a
number o elements: centres o excellence bringing together
specialists in disciplines such as tax or risk, shared services
to improve efciency, outsourced or oshored services toreduce costs and improve transaction quality and exibility,
and business partnering to provide analysis and support to the
organisation through commercially minded fnance business
partners (FBPs). The FBP role has become increasingly
important, positioning fnance as a key provider o business
analysis and insight to support decision making and
achievement o strategic objectives.
8/6/2019 Maxim is Ing People Power
7/24
7maxmsng people power: effectve talent management
n fnance
EECUTIE UMMA
secUrng tHe talent ppelne
The challenge in bringing a preerred fnance model to lie is
that certain skills, capabilities and experience levels will be
required o the fnance proessionals who are employed. These
may not necessarily be available in the organisation, or evenin the wider recruitment market. The fnance model must
thereore take account o the current availability o skills, and
the potential or the organisation to develop desired skills in
uture among its retained fnance proessionals. Creating the
necessary talent pipeline can be particularly challenging or
FBPs, as these require commercial knowledge and strong soter
skills (communication and negotiation capability, or example),
as well as core fnancial expertise.
Aspiring FBPs, or example, will generally require ocused
development, oten involving rotations into non-fnancial
commercial roles, to help them develop the capabilities and
commercial insights they need. This pipeline creation is part
o an eective workorce planning strategy, which should be
developed and embedded within the organisation.
ntegrate talent management
Integrated talent management practices are the next stage
in the evolution o talent development and the development
o these processes is essential or CFs who aspire to run
great fnance unctions. What does great talent management
or fnance look like? ur report suggests a number o key
components, which cover all aspects o the individuals
employment experience.
ii
The organisation needs to clearly identiy what talent looks like the key skills and behaviours that fnance proessionals need
to have in order to deliver the organisational strategy.
rui d idii
ecruitment activity needs to take account o short-term and
long-term needs. ometimes experienced hires can fll core
vacancies while younger fnance proessionals are developing
their skills. Talent may also be recruited rom elsewhere in the
organisation, bringing individuals into fnance who have an
established business or commercial understanding.
cy k
These defne the technical, business and behavioural
competencies required in every fnance role at each level.They can be used to benchmark existing talent, identiy talent
gaps and develop structured career paths that enable fnance
proessionals to develop the necessary skills and competencies.
td d
ome fnance roles will be more critical to the success o
organisations. The developmental needs o individuals in these
roles should take priority where resources are scarce. ote that
junior roles can be as critical as more senior ones.
E Executive summary
chi i
Leading organisations oer a comprehensive range o learning
and development activities which can be selected to suit
individual needs. ecent trends include a shit towards
collaborative e-learning, while online fnance portals providingaccess to management tools, research and best practice are also
widely used. Experiential learning is particularly popular with
younger fnance proessionals, and could include secondments,
job rotations and stretch assignments. rganisations are
increasingly developing virtual fnance academies to provide a
structure to fnance training and ensure consistency.
suud h
rganisations need to develop structured career paths or
fnance personnel, so that individuals aspiring to reach a
particular position such as that o FBP can clearly see
the uture steps that could help them develop the skills,
competencies and experience necessary. From an organisational
perspective these are also helpul with strategic workorce
planning and succession planning in the business or institution.
p u d d
The objectives against which fnance proessionals are targeted
need to be aligned to the overall organisational strategy, with
rewards linked to individual achievements. Tools can also
enable individuals to benchmark themselves against desired
competencies or certain roles, helping them to manage their
own career development.
oi i
The talent management ramework needs to be regularly
assessed to ensure it continues to meet the requirements o thewider organisation and the fnance unction itsel.
tHe rve for transparenc
With pressure on costs across organisations, transparency o
talent management spend is increasingly important. Though
evaluating return on investment is notoriously difcult in this
area, new eort is being placed on fnding ways to measure
the impact o spending on dierent orms o learning and
development and other aspects o the talent management
ramework. In this way, spending can be targeted on activities
that have most impact on the creation o an eective,
strategically aligned and value-adding fnance unction.
8/6/2019 Maxim is Ing People Power
8/24
8/6/2019 Maxim is Ing People Power
9/24
9maxmsng people power: effectve talent management
n fnance
TALET MAAGEMET I 2011
Talent management in 2011
rganisations have changing needs o fnance, shaped by trends in the global business
environment. For many entities, large and small, growth will be tougher to achieve in the coming
years. This means squeezing every bit o value rom inputs and minimising costs are top priorities.
Finance unctions need to provide insight into value drivers, return on investment, cost controland strategic priorities. There is heightening demand or highly commercial accountants Finance
Business Partners (FBPs) who can apply their core technical knowledge to real business issues
and provide the fnance lens on organisational decision making. ACCA has previously highlighted7
how fnance proessionals play a key role in value creation applying their talent, skills and
business knowledge to drive great perormance across the organisation and increase value, but
also helping preserve value through their proessional ethos and competence.
Pressure on costs is triggering restructuring activity, not least in
the fnance unction. CFs appreciate the need to increase theefciency o their own systems and processes, seeking urther
economies o scale in transaction processing or maximising the
use o IT systems and automated processes.
Finance teams also need to respond to governmental pressures,
as tightening national budgets have increased attention
on corporate taxes around the world. rganisations need
specialists to manage their tax risks and costs. imilarly,
regulatory risks remain high, particularly in sectors such as
fnancial services, so fnance expertise in regulatory compliance
and reporting is also required. ther specialists are also valued,
in treasury, internal audit and looking ahead, carbon and
sustainability reporting, and recent ACCA research8 confrms
that risk management will also be a key priority and ocus
beyond 2011. In the same research9, 45% o business leaders
thought it quite likely that they would employ more fnance
specialists, while a urther 26% suggested this was very likely.
Moving rom the corporate to the individual perspective, talent
management is also partly about managing the aspirations and
aims o the workorce. The career expectations o many fnance
proessionals are changing. The youngest accountants in the
proession, Generation , place high value on development
opportunities and career progression but not necessarily along
traditional paths.
According to recent ACCA research, many wish to gain broadexperience10, initially ollowing a horizontal career path and
gaining experience in a range o roles within fnance, beore
potentially moving on to a more traditional, vertical career
trajectory. A signifcant number ultimately seek careers outside
o mainstream fnance roles. Managing the aspirations o the
youngest generation in fnance will be a big challenge or
organisations in the next decade, but equally, so will be the
ongoing management o the generation above them, Generation
, in a corporate world where fnance careers are becoming less
uniorm the emergence o career paths based on a corporate
lattice rather than a corporate ladder.
This combination o actors is creating new challenges or talent
management in fnance.
How do CFs structure the fnance unction and the roles
within it to ensure maximisation o resources and a strong
long-term talent pipeline?
How do CFs access the specialists they need must they
recruit or can internal talent be trained?
What is the best way to improve the commerciality o the
fnance unction and boost its internal credibility? How
can we develop FBPs to ensure they have sufciently deep
organisational understanding to be able to provide valuable
analysis and insight to operational divisions?
How can individuals in roles deemed less critical be
motivated and their expertise retained i they see training
priorities being ocused on others?
How can the organisation create a sufciently stimulating
career path to retain the talents o Generation ?
How can fnance assess return on investment in its people in
order to target learning and development and general talent
management spend most eectively?
Addressing these challenges requires a talent management
ramework developed rom a solid understanding o the
organisations strategy and hence its fnance capability
needs, but which takes into account the realities o talent
development in the modern world, the limitations and trade-osthat may be required.
7 The value creation model for business: 2010 and beyond, ACCA 2010
8 The value creation model for business: 2010 and beyond, ACCA 2010
9 The value creation model for business: 2010 and beyond, ACCA 2010
10 Generation Y: realising the potential, ACCA 2010
8/6/2019 Maxim is Ing People Power
10/24
10
Te big picture: organisational design
Finance unctions evolve over time and can experience successive redesigns as the organisations
they serve themselves grow and develop. ometimes fnance unction redesign ollows a period o
acquisitive growth by an organisation. uccessive bolt-ons o new operations can create a need
to streamline fnance activity and reduce duplication o eort. The needs o any organisation romfnance evolve throughout the business liecycle
econfguration o the fnance unction can contribute to a drive
to reduce costs oten a key actor behind restructuring and
streamlining, particularly in tough economic climates when
back ofce overheads are targeted. However, fnance unctions
are also restructured in order to improve their ability to add
value to the organisation and to help management decision
making. This applies regardless o whether the fnance team is
working in the public or private sector.
What issues do CFs need to consider when determining the
optimal fnance model or their organisation? As outlined in a
previous ACCA report11, the most appropriate model or fnance
is inuenced by a number o key actors:
business environment, including the economic cycle: fnance
may need to ocus most on cost and controls in recessionary
times, or example, or on compliance during a period when
regulators are highly active
organisational profle and strategy: the fnance unction must
reect the strategic priorities o the business, so or example,
emphasising custodial issues such as risk management in
an investment company or prioritising business analysis in a
high-margin oil company
organisational operating model: a group with highly
autonomous and geographically dispersed business units
may preer or the majority o fnance activities to be
undertaken locally, whereas a centralising model would bring
many fnance activities together at head ofce
organisational size and liecycle stage: smaller organisations
have less complex fnance unctions with individuals oten
ulflling multiple roles, whereas larger and typically more
mature organisations are likely to require more specialisation
and may have dierent priorities or fnance, such as a
greater requirement or risk management.
The preerred operating model or fnance will need to reect
the CFs strategy or fnance taking account o both the
expectations that the organisation has o fnance, and the
ambitions that fnance has or itsel. ome key questions need
to be considered in order to develop that strategy12:
What is the value-creating objective o the organisation?
Where and how can fnance best contribute to supporting
the organisation in value creation? (What do our internaland external stakeholders want and need rom the fnance
unction?)
How capable is fnance in delivering these objectives
currently?
How much will it cost and what metrics can be used to
measure success?
Could a new structure people, process, systems improve
the success o fnance in supporting the organisation?
The answers to these questions help to determine whether a new
model or fnance could improve efciency and added value.
11 Accountants for business, ACCA 2010
12 Accountants for business, ACCA 2010
8/6/2019 Maxim is Ing People Power
11/24
11maxmsng people power: effectve talent management
n fnance
BacKgroUn
For most companies, talent
management activity ocuses on
the individual, and it is invariably
a tactical activity that takes place
locally. But or KPMG, fnance talent
management is a strategic driver o
value, and it is a key consideration at
the early stages o all major activity.
This is demonstrated in recent work
KPMG undertook with the UK arm
o a major European Lie Insurer.
riven by a need to restructure to
meet orthcoming regulatory changes,
along with a desire to separate the
fnance and risk unctions, the insurer
engaged KPMG to help redesign their
operating model. ten a technical and
process-driven activity, by engaging
talent management expertise rom
day one, KPMG was able to help the
client transorm their fnance unction
by designing an organisation that
delivers the overall strategy and has
fnance talent management principles
embedded at all levels.
approacH
eui i i
KPMG has a tested methodology
or helping clients redesign their
organisations, and a major element is
the development o design principles.
Working with stakeholders, KPMG
identifed the key strategic prioritiesor the organisation and captured
these in a set o organisation design
principles. These principles set out
the main eatures that the uture
fnance unction should embody
in order to support delivery o the
organisational strategy, and they
provided the ramework against which
the organisation design options could
be validated. ee table.
Uddi h o d- d
idi
The development o the organisational
structure was based on a series
o decisions, driven by the design
principles, and inormed by KPMGs
understanding o the trade-os and
considerations, always with talent
management a actor. In designing the
structure or the reporting teams, or
example, the client initially wanted
to align actuarial and management
reporting within one team. From a
business perspective this gives closer
alignment across all reporting activityand a more consistent approach.
But rom a talent management
perspective, consideration needs to be
given to the integration o actuarial and
accounting resource across the team
two disciplines that are oten described
as being like oil and water. And the
leadership o such a team poses
challenges: there are not many senior
fnance fgures with the credibility,
leadership capability and breadth o
actuarial and accounting experience to
eectively lead such a unction.
KPMG worked with the client
to highlight and manage these
considerations at each stage, ensuring
that the structure was not based
purely on process or unctional
analysis, but also with a thorough
view o the talent management
implications needed in order to make
the abstract organisational structure
a high-perorming fnance unction
in reality.
t h h
h ii
A similarly talent-driven approach
shaped the structure o the FBP roles.
The client was initially keen to
have a small number o very senior
roles, creating a heavy-hitting
director-style role.
From a talent perspective this can
cause succession planning issues
and creates difculties in building
a clear career path through to the
role. KPMGs experience shows that
unctions with a small number o very
senior roles can be orced to rely on
external recruitment into the roles as
the gap between these roles and the
rest o the unction represents too
large a step up or internal candidates.
This is an expensive structure, and a
demotivating one.
KPMG instead helped the client
develop an FBP team with a wider
range o roles: more junior FBPs acing
o to dierent levels o the business,
led by a handul o senior FBPs, some
o which had additional commercial
director-style responsibilities. The
result was an FBP team built on talent
management principles, and one that
provided employees with a clear career
path to the top o their proession.
TAET MAAGEMET I FIACE TAFMATI
esgn prncples context
c ui hi
d ubiiy
wnership o data and data quality in one place. eporting and
analysis team responsible or reviewing the overall picture and
ensuring dierent bases are aligned
c iii ud
i
Accounting team ocused on production o core accounting numbers.
Actuarial team ocused on core actuarial outputs. Both accounting
and actuarial teams support analysis o change
si bui
i by h
ui
Finance BP teams will be closely aligned to the business but pure MI
production will sit centrally, allowing the FBP team to ocus on value-
add analysis and decision support rather than numbers production
TAE hIG A ECEPT FM ThE GAIATI EIG PICIPE
8/6/2019 Maxim is Ing People Power
12/24
12
From a business perspective it
generated a strong pipeline o talent at
all levels, and the commercial aspect
to the roles worked to prepare senior
fnance proessionals or broader
business roles.
ebddi i bhiu h
The structure in place, the
implementation was supported by a
range o talent management activities
designed to embed the changes.
What does talent look like?
Facilitated by KPMG, the fnance
unction worked to understand and
redefne the defnition o talent.
Characteristics such as an increased
commercial ocus and stronger
leadership capability were identifed,
and this in turn shaped the talent
identifcation process.
A holistic approach to performance
management and reward
bjectives were centrally reviewed
to ensure alignment with the
business strategy, and reward and
recognition activity was similarly
consistent, ensuring that key talent
management levers were reinorcing
the same message
Activity was focused on critical roles
In any organisation some roles are
more important to the success o an
organisation than others. Using KPMGs
Critical oles methodology (see Figure 1)
the key roles within the organisation
those that had the biggest impact on
customers, regulators or key perormance
indicators were identifed, allowing the
client to prioritise time and resources on
these roles and thereby adopt a more
ocused approach towards its fnance
talent management.
tHe mpact of a talentrven
approacH to organsatonal
esgn
eviewing the organisation designactivity, the client recognised several
key dierences resulting rom the
talent-driven approach to operating
model developed adopted by KPMG:
evelopment o an organisational
structure grounded in reality, and
one that is designed with people at
its heart.
Involving talent management
experts rom the beginning led to
a deeper understanding o the
considerations at every stage, and
agged the importance o issues
such as building a strong talent
pipeline earlier than would normally
have been considered.
A realisation that genuine fnance
talent management is a strategic
activity that impacts on all levels
o the unction and not a tactical
activity that is separate rom wider
unctional changes.
si u
i
vu hi
dii
r
idii
d i
aiiy
yi
t
i
yi
FIGE 1: ThE TAGE I KPMG CITICA E METhG
8/6/2019 Maxim is Ing People Power
13/24
13maxmsng people power: effectve talent management
n fnance
FIACE FUCTI EFFECTIEE
Finance unction eectiveness
The ultimate goal o talent management in fnance is to improve the efciency and eectiveness o
the fnance team.
The more eective fnance proves itsel to be, the better the
relationships it can develop across the organisation13. This
creates a virtuous circle. The better fnance perorms, the
stronger its reputation and the more willing other parts o
the organisation will be to work with fnance and listen to its
value-adding proposals.
There are a variety o models open to CFs when seeking to
improve the efciency o the fnance unction or restructure it
in a way more closely aligned to the organisations strategy.
Adopting the right model is an important element o integrated
talent management ensuring that resources are deployed in
the most eective manner globally. This could involve a numbero dierent approaches.
centres of excellence
Corporate centres o excellence in areas such as tax, treasury,
risk management or internal audit can enable technical
specialists to maximise their contribution to the wider
organisation in the most efcient way.
sHare servces
Many large organisations use shared service centres to handle
transaction processing or payables, receivables and the general
ledger, although increasingly there is a movement o higher
value activities and processes to third parties and sourcing
partners. Key benefts can include greater efciency and lower
or more variable costs.
oUtsoUrcng an offsHorng
There is now a well-established trend o outsourcing
transactional activities to third party specialists, oten in
oshore, lower-cost locations. The concept o near-shore
outsourcing has also emerged, relating to the relocation o
business processes to cheaper locations which have some
cultural links with the organisations home country, such as
Mexico or U businesses or Ireland and Eastern Europe or UK
businesses. Though initially limited to the most basic activities,
organisations are increasingly seeking to outsource mid-ofce or
higher-value processes and fnance services, such as statutory/regulatory accounting, fnancial reporting and tax even
budgeting, orecasting and fnancial analysis.
As well as lowering costs, outsourcing can give the organisation
access to best practice and experts in transaction processing,
and potentially greater exibility o resource, which can
accommodate the organisations changing needs during
ast-growth periods. utsourcing also rees up time or the
retained fnance team, enabling them to ocus on the highest
value-adding activity delivering insight and interpretation with
commercial awareness14.
BUsness partnerng
Finance business partnering is about supporting the whole
business to raise standards in key decision areas, taking a
orward-looking and commercial view supported by a richconsulting toolkit and high emotional intelligence to help
articulate dierent options and inuence decisions. We
believe that the FBP needs to be ree rom the distraction
o core fnance work to oer this level o support to their
internal customers. ur experience shows that the larger the
organisation, the greater the opportunity to scale the Finance
Business Partnering solution towards a purer model with
specialist provision15.
Adoption o such a model as part o a fnance transormation
process has major implications or talent management. I
activities that once provided the training ground or accountants
are increasingly outsourced, or example, new ways need to be
ound to enable the transer o knowledge rom senior to more
junior personnel. Where fnance roles are dispersed around the
world, this also has an impact on the career paths individuals
may need to ollow as they build up their experience. I fnance
personnel are required to act as business partners, talent
management processes need to be developed to ensure FBPs
have the necessary commercial and soter skills.
13 Collaborative working: why relationships matter in nance, ACCA 2010
14 Finance of the future looking forward to 2020, KPMG 2009
15 Mastering nance business partnering: the missing link to building nances inuence, KPMG 2011
8/6/2019 Maxim is Ing People Power
14/24
14
ecuring te talent pipeline
o fnance unction reorganisation can expect to succeed without consideration o the talent
management implications. In act, the availability o certain skills or combinations o skills
could render a preerred plan undesirable. ight rom the start, any proposed fnance unction
model needs to take account o the ability to recruit, retain, develop and motivate individuals withthe appropriate skills. In the value creation cycle previously outlined by ACCA16, people orm a
critical element. I organisations are to generate value eectively, they need to be able to attract
and retain fnance proessionals with a range o technical and business skills, and to develop those
individuals to their ull potential.
Accessing people with the appropriate skills and capabilities
is particularly challenging in the area o fnance business
partnering. CFs want to be able to support operations with
individuals who combine fnance and accounting technical
knowledge with commercial sense and a deep understandingo the value drivers o that particular organisation. The FBP
role also requires highly developed soter skills the ability to
inuence, negotiate and communicate clearly. But how can
a technically adept fnance proessional shit rom being a
data analyser and provider o management inormation to a
trusted adviser and proactive, commercially astute business
partner? How can accounting proessionals make the leap rom
fnancial reporting, internal audit or regulatory compliance
roles to become credible FBPs? ecuring this talent pipeline is
challenging to say the least.
Employers can all too oten assume that employee skill sets,
behavioural competencies and individual motivation are easilychanged through the implementation o a new operating model
alone. But culturally changing the way people do their day
job and how fnance interacts with the organisation requires a
targeted ocus on talent management.
The starting point is to understand the skills that are required
or successul FBPs. Then the development support can be
created. The skills and capabilities are numerous: the ability to
act like a business entrepreneur, proactively working with the
organisation17; the ability to use technology most eectively
to support advanced data analysis; inuencing and conict
resolution skills to win the support o internal stakeholders;
communication skills to explain fnancial analysis in simple
terms to business leaders; initiative to identiy issues wherefnance can provide added value.
ome o these skills and capabilities may not be ully or
sufciently developed in young fnance proessionals, but they
can be encouraged through careully planned development
programmes. This is important, because CFs need to be able
to provide FBPs capable o meeting the needs o the businessoperations they support, who can inspire trust and respect.
I they do not, there is a risk o the FBP role being passed to
individuals rom a commercial, non-fnancial background who
are then taught the fnance undamentals they need. This would
weaken the inuence that fnance has in the organisation, and
arguably the quality o service that FBPs could provide because
some o the strengths o qualifed fnance proessionals the
ability to interpret numbers quickly and apply highly rigorous
analysis would be lost.
The development o FBP skills and capabilities can be
supported in a number o ways, including job rotation
programmes so that fnance personnel experience lie at thesharp end in other areas o the organisation, such as marketing
or any other primarily commercial role. Future FBPs could also
be encouraged through coaching or mentoring programmes or
by completing temporary secondments. Bringing non-fnance
proessionals into fnance or periods o time also helps the
transer o broader business knowledge.
uccessul business partnering requires a long-term talent
management approach. For example, when recruiting new
fnance trainees, candidates should be assessed or their
potential to become FBPs. This may inuence the type o
individual recruited.
16 The value creation model for business: 2010 and beyond, ACCA 2010
17 Finance of the future looking forward to 2020, KPMG 2009
8/6/2019 Maxim is Ing People Power
15/24
15maxmsng people power: effectve talent management
n fnance
TAET MAAGEMET A ThE FIACE IE
PATE E
18 Thriving not just surviving, KPMG 2009
19 ee Mastering nance business par tnering (KPMG 2010) or a more comprehensive analysis o these issues
20 University o Bath chool o Management
21 Accountants for the 21st century: where are you? Critical perspectives on accounting, July 2007, vol 18, issue 5
BacKgroUn an context
The capability o the fnance unction
and, crucially, its ability to interact
with and support the organisation, is
key to organisational success. Through
talking to clients, KPMG has ound a
positive link between strong company
perormance and close alignment
o the fnance unction with the
organisation18.
The key to this relationship lies in
the successul adoption o a fnance
business partnering model. And as
so oten, moving to an eective FBP
model involves managing a variety
o challenges; preparing the fnance
unction or a move to business
partnering, aligning FBPs with the
organisation and building an eective
FBP team are all key19, but ew issues
are more pressing than the need toensure talent management principles
are integrated into all activity.
ci iui
KPMG has worked with two clients
recently who, between them, have
tackled some o the key issues outlined
above. A global pharmaceutical
company came to KPMG or help
supporting the development o the
strategy and structure o fnance
business partnering within their
organisation as well as develop a
toolkit to assist fnance businesspartners with training, structures and
external best practice examples.
imilarly, KPMG has recently worked
with a predominantly UK-based
insurance group that was looking
to substantially increase the cost
efciency and commerciality o its
fnance unction. A major building
block in this process was the
development o a commercially aligned
business-acing FBP team.
wh i bui i? Kpmg i i
Finance business partnering is about supporting the whole business to raise standards in key
decision areas, taking a orward-looking and commercial view supported by a rich consulting toolkit
and high emotional intelligence to help them articulate dierent options and inuence decisions.
We believe that the FBP needs to be ree rom the distraction o core fnance work to oer this
level o support to their internal customers. ur experience shows that the larger the organisation,
the greater the opportunity to scale the fnance business partnering solution towards a purer model
with specialist provision.
Kpmgs tools an approacH
i h hi
qui
For both clients, the frst step was
to defne the changed requirements
or the FBP role. Through a series o
workshops and internal interviews,
KPMG worked with the clients to
identiy the key capabilities required
by FBPs. This was supplemented
by KPMGs industry experience and
external research, such as that which
showed an increasing demand or
strategic decision support, increased
cross-unctional collaboration and
improved training and development20.
The role defnition was accompanied
by an analysis o the current capability.
Here again, internal talent and
perormance management data was
supplemented by external research,in particular evidence showing that
accountants are over twice as likely to
preer working in a well-structured and
orderly environment21. This can bring
with it a discomort regarding change
and a reduced ability to read others
eelings, key pillars o the FBP role.
For the UK insurer, this analysis led
to an increased ocus on capabilities
such as leadership ability, commercial
acumen and strategic ocus, as well as
strong stakeholder management skills
and an ability to operate in a matrixenvironment.
i bk ui
With the role requirements
understood, KPMG helped the client
develop some bespoke solutions.
The existing competency rameworks
were reviewed, and the competency
requirements or the FBPs overhauled
to ensure the appropriate emphasis.
This was done alongside a review ocurrent capability. olutions included
the mapping o current sta into FBP
roles and coaching and mentoring or
existing FBPs.
suud h
A major deliverable was the
development o structured career
paths. A consistent theme rom
stakeholders, echoed by KPMGs
experiences across the industry, was
that FBPs were either too technical
(and not commercially-aware) ortoo generalist, lacking the technical
depth and experience required to add
genuine value.
KPMG thereore mapped the roles in
the fnance unction and worked with
the client to defne high-impact career
paths or potential FBPs, linked roles
that together provide broad experience
o the key fnance activities, such
as shared service environments
and some o the more technical
disciplines, as well as giving exposure
to the business and commercial areaso the unction.
8/6/2019 Maxim is Ing People Power
16/24
16
Progression through these career
paths which were supported with
the relevant learning and development
interventions, as well as reward
and perormance management
levers will provide individuals
with both the technical fnance
understanding and the commercial
insight and interpersonal skills to
move into senior FBP roles equipped
to provide genuine strategic value
to the business. Building this careerpathways concept outside o fnance,
as well as developing a set o common
competencies across an organisation,
will also help identiy possible
internal candidates who could ft the
requirements needed to succeed in the
fnance unction.
a hi i i
For the global pharmaceutical
company, the development o
a capability ramework and
redefnition o roles was accompanied
by another major deliverable, the
development o a comprehensive suite
o learning interventions designed to
help build capability.
KPMG developed a series o fnance
academy modules aimed specifcally
at building FBP capability, accessed
through a fnance portal, a bespoke
solution providing deep external and
internal content (through multimedia
channels) or FBPs at the touch o a
button. The scope o the Academy
was global, and crucially it washeavily sponsored by the fnance
leadership team, who also contributed
to the content.
cuii d i
For both clients, KPMG worked
hard to ensure that key stakeholders
across the business were involved
at all stages o the work. This had
several benefts: most obviously, the
inormation received was invaluable
in shaping the role requirements. But
there was also a strong engagement
beneft, with business customers
eeling a sense o ownership and
responsibility or the success o the
FBP roles they helped defne.
And last, by communicating a
commitment to building a more
strategic and business-ocused
unction, the fnance team was able
to gain internal respect, credibility
and support or their activity at the
earliest possible stage, a contributor to
a successul transition to an eective
FBP model.
resUlts
Measuring the strategic impact ochanges to the FBP role is extremely
difcult: the role holder seeks to shape
and inuence the activity and outputs
o others across the business and
within the fnance unction, and setting
quantitative objectives to measure this
can have the unintended consequence
o orcing a ocus on delivery o
data and MI: just the sort o tactical
responsibilities many FBP models seek
to move away rom.
However, KPMG has worked with
clients to put qualitative measures in
place, such as a regular stakeholder
survey to quantiy customer perceptions
regarding the quality o FBP support
they receive. At a more targeted level,
the global pharmaceutical company
is now receiving over 20,000 hits
per month on its fnance portal, rom
around 80 dierent countries, and
take-up o the e-learning modules is
consistently strong.
The longer term impact o a
talent-ocused approach to developingthe FBP role is expected to be the
creation o a strong pipeline o
technically adept fnance proessionals
perorming strongly as commercially-
ocused FBPs, genuinely aligned to
their business stakeholders.
8/6/2019 Maxim is Ing People Power
17/24
17maxmsng people power: effectve talent management
n fnance
ITEGATE TALET MAAGEMET
Integrated talent management
Creating an appropriate fnance model depends on the development o an integrated talent
management strategy. The key elements o any talent strategy cover the whole employee liecycle,
including the defnition and identifcation o talent, recruitment and resourcing, perormance
management and reward, learning and development, succession planning and career management.
Integrated talent management brings together all three
elements o the value creation cycle22 that ACCA has previously
identifed: through people, organisations create value by
successully recruiting fnance proessionals with the right skills
and then undertake development interventions to drive great
business perormance. These practices also help organisations
sustain value, because great talent programmes ensure the right
behaviours and promote the importance o proessionalism.
efnng talentFundamental to any talent strategy is the defnition o what
talent looks like: this must be specifc to the organisation and
clearly linked to the overall strategy. Understanding the skills and
behaviours needed to deliver organisational success at any given
stage in the business cycle and recognising that these will
change over time is key, and should shape all talent activity.
recrUtment an talent entfcaton
ecruitment activity reects the current and uture needs
o fnance. I looking to build a strong supply o FBPs, or
example, in the short-term it may be quicker and cheaper or
the organisation to recruit external fnance proessionals who
already show strong commercial awareness and capability
in the soter skill set area. Longer-term planning can theninclude the recruitment o fnance trainees with the behavioural
capabilities appropriate or succeeding in the FBP role in uture.
It may also be worth looking internally in the organisation or
individuals who already have business skills and commercial
knowledge, but who are interested in gaining a proessional
accounting qualifcation.
competenc frameworKs
Competency rameworks defne the technical, business and
behavioural competencies required in every fnance role and
at each level to deliver organisational success. These can be
used to benchmark existing talent as well as highlighting any
skills gaps that need to be flled through internal developmentor recruitment. They also serve as a reerence point or
understanding career paths across the organisation. Along with
the defnition o talent, rameworks should be regularly reviewed
to ensure they remain relevant and ft or purpose.
sUccesson plannng an worKforce plannng
Eective management o the talent pipeline identiying
successors to key roles and uture skills gaps is an important
part o any proactive talent strategy. Aligning this with a
workorce planning model and approach that helps identiy the
strategically vital skills and puts in place a resourcing strategy
to build them is a undamental component at the heart o
eective talent management.
targete evelopmentWith limited resources, development activity needs to be
ocused on critical roles those that have most impact on
the organisations ability to gain competitive advantage or
achieve strategic goals and key individuals. They could be
in business partnering, compliance or other specialist (eg tax)
roles depending on the specifc organisation and sector, and
criticality will be judged based on the roles impact on key
actors such as high-value customers, regulatory requirements
or priority markets. Critical individuals may not always
be the most senior lower-level roles may be critical or
organisational perormance.
compreHensve learnng
The range o learning and development options open to fnanceis extensive. Leading organisations oer a comprehensive range
o learning activities which can be selected to suit individual
needs (both in terms o content and training time availability).
ecent trends include a shit towards collaborative e-learning,
or example23. nline fnance portals are also increasingly
common, giving proessionals in dispersed locations access
to management tools and techniques, technical knowledge
sources and research.
Experiential learning is particularly popular with younger
fnance proessionals24, and could include secondments, job
rotations, shadowing and stretch assignments designed to
stretch an individuals capabilities beyond what might beexpected at their current experience level. Use o stretch
assignments or appointments is particularly relevant in times
o cost pressure, when training and development budgets are
limited25. ACCA research also consistently highlights the value
o coaching and mentoring across the proession26.
22 The value creation model for business: 2010 and beyond, ACCA 2010
23 The future of professional development, ACCA 2009
24 Generation Y: realising the potential, ACCA 2010
25 Fighting back through talent innovation: talent management under threat in uncertain times, CIP 2009
26 Paths to the top: best practice leadership development for nance professionals, ACCA 2007
8/6/2019 Maxim is Ing People Power
18/24
18
In order to support a systematic approach to fnance training
and development, organisations are increasingly developing
virtual fnance academies. These provide a structure to
training, ensure consistency across the organisation, access to
knowledge management and inormation on industry trendsand development, and link learning to career pathways and
role planning. They can be aligned to perormance and talent
management systems, and can oer the employer a wealth o
detailed management inormation and transparency relating to
employee perormance and development.
strUctUre career patHs
In order to create the talent pipeline required or key fnance
roles, such as FBPs, organisations need to create structured
career paths along which individuals can progress. These could
include rotations through key fnance roles, secondments to
operational areas and even external secondments. Transparent
career paths help keep employees engaged and motivated, but
also give a blueprint or the organisation on where critical roles
exist, how these can be sourced and an idea on the training and
learning interventions required to support this.
performance measUrement an rewar
The objectives against which fnance proessionals are
targeted need to be aligned with the overall organisational
strategy, with rewards linked to an individuals success
in achieving their targets. Tools that enable individuals to
benchmark themselves against desired competencies or
certain roles can also help fnance proessionals understand
their own strengths and weaknesses, gain a realistic sense o
career development opportunities and encourage ownership o
capability and skills development.
ongong revew
Integrated talent management is a dynamic process.
rganisations and economies rarely stand still. emands
made o fnance will also continue to change. Thereore, the
talent management ramework needs to be regularly assessed
to ensure it continues to meet the requirements o the wider
organisation and the fnance unction itsel.
Integrated talent management I
8/6/2019 Maxim is Ing People Power
19/24
19maxmsng people power: effectve talent management
n fnance
FIACE TAET MAAGEMET: CAPAIIT FAMEK
F A MAj K IIG CIET
BacKgroUn
As part o a large organisation-wide
cost optimisation programme, KPMG
worked with one o the UKs largest
building societies to improve talent
management within their fnancial
management unction.
The team was made up o around 130
individuals, the majority o whom had
a high degree o technical knowledge,
typically underpinned by a proessional
qualifcation.
espite this strong technical expertise,
the fnancial management team
was not well-regarded within the
company. Poor accuracy o data and
reporting skills, a perceived lack o
decisiveness, and limited knowledge
o the building society and fnancialmarket as a whole meant the fnancial
management team were not providing
constructive insight or challenge, or
assisting the organisation in making
strategic decisions.
As a result, the building society had
a fnance team who, although very
strong technically, were ineective
in translating this expertise into
eective organisational support.
The team needed to be strategically
aligned to the organisation
and more proactive in order tounction across the organisation
as genuine commercially-ocused
business partners.
approacH
KPMG was asked to review the
approach to talent management
within fnancial management. Working
with the client, a set o capability
development principles and some
critical success actors were defned.
cbiiy d iiKey to KPMGs methodology is the
development o guiding principles.
These provide the link between
organisational strategy and talent
management activity, and act as
an anchor throughout the work:
all activity is validated against the
principles to ensure it is strategically
aligned and adding value.
cii su f
As with the above principles, KPMG
worked consultatively with the client to
identiy the key actors necessary to the
success o the activity. nce defned,
the interventions were developed to
ensure that they incorporated the
critical activity on which success is
recognised as being dependent.
While the principles defned the
talent management requirements or
the business, KPMG also evaluatedevery employee against the capability
ramework developed in conjunction
with the client. This evaluation, along
with the individuals stated goals and
aspirations, shaped the creation o a
bespoke development plan.
The next stage was or KPMG to
work with the client on developing a
capability transormation programme
that would ensure both the unction as
a whole and its individual employees
eectively contributed to delivering the
building societys strategy.
capaBlt transformaton
There were two main elements to the
fnance talent management led by
KPMG: the development o a fnancial
management capability ramework,
and the construction o a blendeddevelopment portolio to build the
required capabilities.
FIGE 2: ECEPT FM ThE CAPAIIT EEPMET PICIPE
strategc prncples programme an nterventon
prncples
Individual must take increased ibiiy
d hi or their learning and
development
Individuals across fnancial management must
have a i d i and
best practice is shared
This must be a ui-id h that
is exible enough to accommodate both
team and individual needs while providing a
i d hih quiy i
a bdd h to delivery is key a mix o
on the job training, classroom based learning,
and coaching and mentoring
Provide ki d m i capability
to identiy best practice and instil a
iuu i uu
sme within fnancial management will be
involved in materials d d diy
ebddd i h
d
Capability development will not work in isolation it must be
integrated into all people and perormance management processes,
such as retention, talent development, reward and promotional criteria
td d dy The capability development interventions and activities are targeted at
specifc development needs and at driving up the overall capability ofnancial management.
on-attendance and non-completion will not be acceptable, which
would mean by not completing the required training the individuals
objectives cannot be met or the year
FIGE 3: ECEPT FM ThE CITICA CCE FACT
8/6/2019 Maxim is Ing People Power
20/24
20
fii biiy
k
rawing on both the clients business
strategy and extensive experience o
working in talent management across
fnancial services, KPMG developed a
ramework with three distinct capability
categories as show in Figure 4.
a bdd i ii
buid biiy
The development o the capabilities
was supported by a blended portolio
o products as show in Figure 5
cy dd h
A fnal key element o the talent
management activity was the
development o career paths or the
fnance population: by setting out the
typical career progression, the key
thi biii These ocused on defning the core technical accounting and fnance
skills needed by fnance proessionals
ebi kd esigned to build understanding o the company, the current fnancial
market and the changes it is going through. Building these capabilities
would allow the client to add commercial value and move beyond being
technical experts
Bhiu biii Based on the clients leadership behaviours and values, these defned
the behavioural traits that are undamental to operating eectively and
proessionally across the business
c ii Bespoke modules were developed or the client and the existing
portolio was mapped against the new capabilities
m d
kd u
Activities such as key industry speakers and access to recommended
books or journals assisted the fnancial management team in keeping up
to date with market conditions
o-h-jb i A structured approach to knowledge transer on the job, allowing instant
application o skills acquired
chi d i The use o business subject matter experts to share expertise and
develop junior employees, with the added beneft o a reduction in key
man dependency
e-i A cost-eective, easily measured and highly exible intervention
wk hdi djb i A centrally coordinated approach to building capability within key talentpopulations through work allocation
FIGE 4: CAPAIIT CATEGIE
FIGE 5: A EE PTFI F PCT
roles within the unction and the skills
and capabilities they would build, the
client was able to boost individual
development (and through that,
engagement and retention) and also
ensure a strong talent pipeline moved
through the critical roles, delivering
strong perormance in the areas where
this had the highest impact.
resUlts
Quantitative measurement o the
impact o talent management activity
on business perormance is notoriously
difcult. The business is naturally
tracking spend on talent management,
and KPMG is working with them to
map spend on capability-specifc
training against changes in capability
levels; identiying the correlation
between the two can then be used to
defne the return on investment in
development interventions.
There are qualitative measures
in place to track stakeholder
perceptions o the fnancial
management unction, both
rom across the business and
internally. Likewise, retention and
engagement across key segments
is tracked. Initial eedback has
been strongly positive, with
fnancial management participants
recognising the investment made in
them and the positive commercial
impact it has had, and business
stakeholders both acknowledging
the commitment to commercialising
the unction and starting to see
the impact in their dealings with
fnancial management.
8/6/2019 Maxim is Ing People Power
21/24
21maxmsng people power: effectve talent management
n fnance
THE IE F TAPAEC
Te drive or transparency
Experienced managers particularly in fnance look or hard quantitative evidence to evaluate
return on investment. This is a challenge in the talent management arena, where so many o the
benefts and impact are qualitative.
A KPMG survey o H and talent directors27 identifed that
many did not fnd it easy to justiy their desired levels o talent
spending in terms o business benefts, and were also hard
pressed to capture the real cost o existing talent activities
across their organisations.
ne approach is to use a range o qualitative measures. These
could include surveys o stakeholder satisaction in relation to
the quality o FBP support provided, or example. imilarly,
employee surveys can provide snapshots o how people eel
about the learning and development provided, the clarity o
career paths and their general level o engagement.
However, greater insight into the impact o talent management
spend is increasingly sought. With cost control set to be a
major goal or organisations and their fnance unctions, interest
in value-or-money and return on investment is high.
With this in mind, KPMG is developing the concept o a
talent cost calculator, designed to be a tool to help identiy
correlations and causal relationships between spending on
talent management and improved perormance and business
metrics. The tool incorporates all expenditure within the talent
management area rom recruitment through to retention
activity, perormance recognition, training and leadership
development as well as data on employee populations
covering salary costs, retention, etc. evelopment o the talent
cost calculator is in its early stages, but KPMG is working with
clients to gather the data and inputs with which to begin the
analysis, and the medium-term goal is to build and grow adatabase and tool that allow increasing insight into talent spend
and the measurable impact it has across the business.
27 KPMG survey o H and talent directors, May 2009
8/6/2019 Maxim is Ing People Power
22/24
22
Conclusion
Integrated talent management sits at the heart o fnance unction eectiveness and is thereore
o critical importance. It is an essential requirement i fnance unctions are to meet the changing
and challenging demands made o them, and ensure they have appropriate proessionals with the
right skills and competencies available in the right place at the right time. This is a key actor insupporting the value creation cycle, whereby fnance proessionals apply their talents and skills to
support organisational perormance and enable value to be sustained or the long term.
In the drive to develop the most efcient and eective
fnance unctions, CFs have shown themselves willing to
adopt new structures and operating models. et identiying
the most appropriate fnance unction structure cannot be
undertaken in isolation. It must be designed in the context o
the prevailing economic climate and the specifc organisational
characteristics. Fundamentally, talent management issues mustbe considered rom the start to ensure that the preerred fnance
unction model is achievable.
This can be particularly challenging when seeking to develop
fnance business partners fnance proessionals who
work closely with operations to provide a fnance lens on
organisational decision making. This is a high-profle fnance
role, and one with the potential to add great value to the
organisation. But it also demands a broad mixture o skills and
competencies, which can usually only be developed through a
structured training and development programme.
Ensuring the talent pipeline is owing properly or FBP and all
other fnance roles takes time and commitment. It requires an
integrated talent management ramework containing a number
o key elements:
defnition o what real talent looks like
recruitment (internal or external) o individuals with
appropriate skills, capabilities and development potential
competency rameworks to defne the key talent
requirements in every fnance role
targeted development to ensure limited resources are
ocused on the most critical fnance roles
comprehensive learning, with a range o development
options available to suit individual and corporate needs
structured career paths to help individual fnance
proessionals develop their skills and careers in line with
organisational needs
perormance measurement and reward to align fnance
proessionals and their achievements with the delivery o
organisational strategy
ongoing review to ensure the talent management ramework
continues to meet fnance and organisational needs.
Adopting an integrated approach to talent management oers
a tremendous opportunity to add value and build the inuence
o the fnance unction within organisations: too oten the
people and talent implications o activity are overlooked or
misunderstood. ur experience shows that the organisations
that put talent management at the heart o their fnance unction
are building the capability that gives the fnance unction andthrough them the wider organisation a competitive advantage
and invaluable source o dierentiation in an economic climate
where that has never been more important.
8/6/2019 Maxim is Ing People Power
23/24
aBoUt tHe aUtHor
Ji ly
Jamie Lyon is head o employer services
at ACCA. He is a qualifed accountant and
holds extensive experience in training,
learning and development across theaccountancy and fnance proession.
Prior to ACCA he spent over a decade
in industry as an accountant holding a
variety o fnance and accounting roles
working in the UK and internationally.
aBoUt acca
ACCA (the Association o Chartered Certifed Accountants) is the global body
or proessional accountants. We aim to oer business-relevant, frst choice
qualifcations to people o application, ability and ambition around the world who
seek a rewarding career in accountancy, fnance and management.
Founded in 1904, ACCA has consistently held unique core values: opportunity,
diversity, innovation, integrity and accountability. We believe that accountants
bring value to economies at all stages o their development. We seek to develop
capacity in the proession and encourage the adoption o global standards. ur
values are aligned to the needs o employers in all sectors and we ensure that,
through our qualifcations, we prepare accountants or business. We seek to open
up the proession to people o all backgrounds, and remove artifcial barriers,developing our qualifcations and their delivery to meet the diverse needs o trainee
proessionals and their employers.
We support our 140,000 members and 404,000 students in 170 countries,
helping them to develop successul careers in accounting and business, based on
the skills required by employers. We work through a network o 83 ofces and
centres and more than 8,000 Approved Employers worldwide, who provide high
standards o employee learning and development. Through our public interest
remit, we promote appropriate regulation o accounting and conduct relevant
research to ensure accountancy continues to grow in reputation and inuence.
au Bui
ACCAs global programme, Accountants or Business, champions the role o fnanceproessionals in all sectors as true value creators in organisations. Through people,
process and proessionalism, accountants are central to great perormance. They
shape business strategy through a deep understanding o fnancial drivers and seek
opportunities or long-term success. By ocusing on the critical role proessional
accountants play in economies at all stages o development around the world,
and in diverse organisations, ACCA seeks to highlight and enhance the role the
accountancy proession plays in supporting a healthy global economy.
aBoUt Kpmg
KPMG LLP, a UK limited liability partnership, is a subsidiary o KPMG Europe LLP
and operates rom 22 ofces across the UK with nearly 11,000 partners and sta.
The UK frm recorded a turnover o 1.6bn in the year ended eptember 2010.
KPMG is a global network o proessional frms providing audit, tax, and advisory
services. We operate in 150 countries and have more than 138,000 proessionals
working in member frms around the world. The independent member frms o
the KPMG network are afliated with KPMG International Cooperative (KPMG
International), a wiss entity. KPMG International provides no client services.
8/6/2019 Maxim is Ing People Power
24/24
einformationcontainedinthispublicationisprovidedforgeneral
rposesonly.W
hileeveryefforthasbeenmadetoensurethatthe
ormationisac
curateanduptodateatthetimeofgoingtopress,
ACCA
dKPMGacceptnoresponsibilityforanylosswhichmayarisefrom
ormationcontainedinthispublication.opartofthispublication
may
reproduced,inanyformat,withoutpriorwrittenpermissionofAC
CA.
ACCAFebruary2011.
ACCA
29 Lincolns Inn FieldsLondon WC2A 3EE
United Kingdom
+44 (0)141 582 2000