KPMG Associate/Senior Associate, Credit Risk in New York, New York

Business Title: Associate/Senior Associate, Credit Risk

Requisition Number: 68413

Function: Advisory

Area of Interest: Risk Management

State: NY

City: New York

Description:

The fastest growing Big Four professional services firm in the U.S., KPMG is known for being a great place to work and build a career. We provide audit, tax and advisory services for organizations in today's most important industries. Our growth is driven by delivering real results for our clients. It's also enabled by our culture, which encourages individual development, embraces an inclusive environment, rewards innovative excellence and supports our communities. With qualities like those, it's no wonder we're consistently ranked among the best companies to work for by Fortune Magazine, Consulting Magazine, Working Mother Magazine, Diversity Inc. and others. If you're as passionate about your future as we are, join our team.

KPMG is currently seeking an Associate/Senior Associate in Financial Risk Management - Credit Risk for our KPMG Risk Consulting practice.

Responsibilities:

  • Research impairment and yield adjustment for credit-deteriorated loans under ASC 310-30 (SOP 03-3) and related journal entries

  • Prepare, validate, and document operational processes related to loan accounting

  • Assist with reviewing, validating, and developing financial cash flow models in excel that utilizes prepayment, default, and loss severity assumptions

  • Research internal rate of return, fair value, or impairment

  • Assist with the FDIC loss share reporting requirements v.1.3.3 and calculate clawback provisions

Additional Responsibilities for Senior Associate:

  • Supervise associates and interns on engagements

  • Serve as a liaison between clients and upper management

  • Identify and communicate technical matters to both clients and upper management

  • Serve as a mentor to associates and new hires

Qualifications:

  • A minimum of one year of relevant experience in loan accounting, financial services, structured finance, mortgage banking, corporate finance, or consulting with Excel, Visual Basic, Access, C++, FINCAD, and SQL software skills

  • Accounting or finance degree from an accredited college/university

  • Possess a technical understanding of accounting for performing loans under ASC 310-20 (FAS 91) both under straight line and effective yield methods and related journal entries

  • Understanding of ASC 805 (FAS 141R) indemnification asset accounting and related journal entries

  • Experience in banking operations and implementation of ASC 310-30 in comparison to current loan accounting practices

  • Travel may be up to 80-100%

  • Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future

Additional Qualifications for Senior Associate:

  • A minimum of three years of related work experience in a financial services, consulting, or accounting firm

  • Demonstrated supervisory experience

  • Well-established understanding of business dynamics and regulations

KPMG LLP (the U.S. member firm of KPMG International) offers a comprehensive compensation and benefits package. KPMG is an equal opportunity employer. All qualified applicants are considered for employment without regard to race, color, creed, religion, age, sex/gender, national origin, ancestry, citizenship status, marital status, sexual orientation, gender identity or expression, disability, physical or mental handicap unrelated to ability, pregnancy, veteran status, unfavorable discharge from military service, genetic information, or other legally protected status. KPMG maintains a drug-free workplace. KPMG will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of applicable local, state or federal law (including San Francisco Ordinance number 131192). No phone calls or agencies please.

GL: 5

GF: 15294