GLOBAL ACCOUNTANT

The Gift of Time: Making the Most of Seasoned Talent

By: GLOBAL ACCOUNTANT
Published May 9, 2013, in Career Update

Economic trends and personal demands have prompted many accounting and finance professionals nearing retirement to rethink the timing of this life-changing transition: A recent Robert Half survey found that nearly four in 10 (38 percent) of chief financial officers are more uncertain about when they’re going to retire than they were five years ago.

For many firms, this news is likely a relief. Nearly 60 percent of finance leaders polled for another recent survey by Robert Half reported that finding skilled financial professionals is a challenge. If you’re offered the gift of extra time with a seasoned worker who would like to delay retirement, be sure to make the most of it. Here are some tips:

Initiate the transfer of knowledge

Find ways for a veteran staff member to impart as much valuable knowledge as possible to others before she leaves. For example, arrange for the employee to mentor one or more junior staff members. Consider asking the worker to serve as an “in-house consultant” on projects where teams would benefit from her specific insights and experience. Also, have the employee update her job description, and perhaps, create a “get started” kit for the person who will eventually take over her role; the kit could include, for example, pertinent contact information for key clients and insight into their expectations and communication preferences.

Make succession planning a priority

When an employee does eventually retire, will you need to fill his job — and if so, who will take his place? If no one is waiting in the wings to assume a critical role in your firm once a worker retires, waste no more time in identifying a potential candidate. It can take months — even years — to develop talent for a leadership position. Ideally, the person serving in the job currently will assist in grooming a successor. And if you discover you don’t have anyone in the organization who could assume the role, start making preparations for a candidate search. Consider asking the retiring worker to help evaluate potential hires, as well.

Support a smooth transition that benefits both sides

Ask the staff member who is postponing retirement to keep you apprised of her plans, so the firm can be ready to fill her role when the time is right. Also, discuss alternative work arrangements — for example, perhaps the employee would like to work part-time or as a consultant. These options will allow her to continue contributing to your firm in a meaningful way while you take time to train or hire her replacement.

Something to keep in mind

Just because a seasoned employee says he wants to put retirement on the back burner, it doesn’t guarantee that he’ll spend the remainder of his career working for your firm. Because skilled and experienced accounting and finance talent is in such high demand, but hard to find, this professional may have his pick of opportunities elsewhere. So, be sure retention is always on your mind. Continue to provide competitive compensation and rewarding assignments to all employees, including those you may mistakenly view as “on the way out.”

This article is provided courtesy of Robert Half, parent company of Accountemps, Robert Half Finance & Accounting and Robert Half Management Resources. Robert Half is the world’s first and largest specialized staffing firm placing accounting and finance professionals on a temporary, full-time and project basis. Follow Robert Half on Twitter at twitter.com/roberthalf

200+ Graduates to Join deVere Group

By: GLOBAL ACCOUNTANT
Published April 8, 2013, in Career Update

The independent financial advisory firm, the deVere Group, has committed to taking on a minimum of 200 graduates from the 2013 intake of its pioneering global Graduate Programme.

The organisation reveals that since the initiative was launched a month ago, it has received more than 1,500 CVs from graduates wanting to participate in the scheme which aims to bring the highly-skilled wealth management professionals of tomorrow into the marketplace.

deVere Group chief executive, Nigel Green, comments:

“Not only have we been thrilled by the overall response to our new, flagship Graduate Programme, we’ve also been very impressed by the calibre of the applications.

From those graduates who enrol this year, we will take on at least 200 full-time once they have successfully completed the course.

We envisage that most of these newly qualified financial advisers will be based within our operations in Abu Dhabi, Bangkok, Cape Town, Dubai, Istanbul, Kuala Lumpur, London or New York, due to increasing demand for our services and specialist advice in these areas.”

The deVere Group Graduate Programme, which begins with a substantial foundation period at the firm’s administrative facility in Malta before the course continues in one of the company’s international training academies, is a two year course combining top-level industry examinations, one-on-one coaching and mentoring from established financial consultants, and hands-on experience working alongside successful advisers and their high-net-worth clients.

Mr Green adds:

“CVs are still being accepted for our Graduate Programme, which offers motivated, successful graduates a ‘career fast-track’ in the highly-valued, rewarding, and increasingly globalised financial services industry.

As a responsible, market-leading organisation, we feel compelled to invest in the future of the industry by recruiting the next generation of world-class wealth management professionals – and the Graduate Programme clearly demonstrates how we are fulfilling this obligation.”

PKF International Appoints New Chairman and CEO

By: GLOBAL ACCOUNTANT
Published April 8, 2013, in Career Update

PKF International has appointed Sajjad Akhtar, managing partner of PKF-CAP LLP, Singapore and Chairman of the PKFI Asia-Pacific Board, as the new Chairman of PKF International. Sajjad succeeds Wolfgang Hofmann who has stepped down in March 2013.

Prior to founding PKF-CAP LLP, Sajjad was a senior partner of Arthur Andersen in Singapore.

His appointment as Chairman of PKF International reaffirms PKFI’s commitment to its member firms and their clients.

Sajjad’s focus will be on adding highly qualified independent member firms with world class skills to the already extensive and well regarded PKFI network.

Sajjad said:

“A recent survey of our independent member firms and their clients has revealed loyalty and commitment to the PKF brand. Member firms are proud of their independence within the network and the freedom and flexibility that this offers them to develop their own businesses within the global PKF family.

PKF International has also announced the appointment of John Sim as CEO. John, a Chartered Accountant (Scotland), spent ten years as the Regional Executive Partner for KPMG Asia Pacific with operational responsibility for Vietnam, Cambodia, Laos, North Korea and KPMG Regional Consulting. John also worked extensively in the US.

Commenting on his appointment, John Sim said:

“My first priority is to work with Sajjad to secure new high calibre member firms in key countries around the world. Over the last few weeks, I have been extremely encouraged by the positive responses from firms who share PKFI’s vision of a network that offers the combination of genuine independence and a powerful brand. Sajjad and I will work tirelessly to position PKF International for continued success.”

Avoiding Poor Hiring Choices

By: GLOBAL ACCOUNTANT
Published March 29, 2013, in Career Update

What’s the cost of one bad apple? About one day per week, if you’re a manager.

Financial executives surveyed by Robert Half found that supervisors spend 17 percent of their time, on average, overseeing poorly performing employees. In another recent survey, nearly one-quarter of executives reported that a bad hire can cost their business more than $50,000 (£33,000) — enough to give any employer indigestion.

Taking care to pick the “good apples” among candidates can create many positive returns for your firm, including greater productivity and higher morale for your whole team. While the hiring process is never perfect — it involves human beings, after all — there are ways to improve your chances of selecting someone who will be a strong fit for the available position as well as your work environment. Here are some strategies for success:

Gather input from relevant parties.

Before you even post an ad for employment, ask colleagues what competencies and attributes they believe the professional will need to succeed in the role. Be sure to ask for input from those who would work directly with the candidate; they’re likely to have especially good insight on what a new hire needs to bring to the table in order to complement the team.

Be on-target with details.

One critical mistake many employers make when hiring is matching professionals to outdated job descriptions. Asking others in the organization for their input is only part of the updating process, however. You’ll also want to study leading employment sites to see how other businesses are advertising similar positions.

Think critically, too, about what you want the candidate to deliver to the firm over the long term. For example, is the available role one that could be a stepping-stone to a management position in the organization? If so, make sure you’re considering a candidate’s leadership potential in addition to her current skill sets and abilities. (See Robert Half’s website for some additional tips on creating effective job descriptions.)

Go deep with interview questions.

Ask candidates to tell you what they know —and what appeals to them — about the firm, its industry and clients, and its culture. The last item is especially important. A candidate who truly wants to be employed by your organization will have done his homework about your work environment and researched what employees, past and present, have said about their experience working for you. (Another tip: Before you conduct interviews, give potential hires a quick tour of the office so they can see your team at work; their impressions will be an important factor in whether they decide they’re a good fit for the organisation.)

Lack of proper attention to the hiring process is often the root cause for a bad personnel decision. If you know you simply don’t have time to evaluate candidates thoroughly, you may want to consider committing a dedicated resource, such as a specialized recruiting firm, to the task. This can help to ensure your firm has a bounty of good apples for consideration.

This article is provided courtesy of Robert Half, parent company of Accountemps, Robert Half Finance & Accounting and Robert Half Management Resources. Robert Half is the world’s first and largest specialized staffing firm placing accounting and finance professionals on a temporary, full-time and project basis. Follow Robert Half on Twitter at twitter.com/roberthalf

Accountancy Contract Pay Rises in Northern England

By: GLOBAL ACCOUNTANT
Published March 19, 2013, in Career Update

Contract rates for accountants working in the North of the UK are up 5.2% year-on-year, according to results from the 2013 Robert Walters Salary Survey. This compares with increases of 0.5% across the UK as a whole, 0.4% in London and 0.0% in the Midlands.

The majority of permanent salary levels remained relatively stable, with overall accountancy salaries down 0.1% across London and the UK as a whole and flat across the rest of the country.

However, accounting professionals are more optimistic about 2013. The Robert Walters Pay and Compensation Survey (conducted in November 2012) reveals that 62% of finance professionals expect a pay rise this year (compared to 60% overall and 54% of HR, 57% of IT and 51% of banking operations professionals). A relatively high proportion of accountants working in the pharmaceuticals (86%), FMCG (81%), banking and financial services (74%), and retail (68%) sectors are predicting a salary increase. Similarly, the Pay and Compensation Survey also reveals that 50% are expecting a bonus in 2013 (compared to 46% of HR professionals, 45% of legal specialists and 38% of IT workers).

Andrew Setchell, Director of Accountancy Recruitment at Robert Walters, says:

“It will come as no shock to finance professionals that market conditions are challenging across the UK at the moment and, as a result, both pay rises and bonuses for accountants are scarce. Only individuals considered by businesses as top performers – specifically those capable of either assisting in generating new revenue or cutting costs by streamlining or implementing efficiencies – are receiving these types of financial benefits from their existing employers right now. However, we also continue to see uplifts of up to ten per cent for accountants moving jobs from one company to another. So there is still some flexibility among employers looking to secure the best talent available.”

Daniel O’Leary, Associate Director of Contract Recruitment in the North at Robert Walters, comments:

“The increase in overall salary levels for contractors in the North is reflective of the notable demand we are seeing in this area. Many employers are relocating from more expensive locations to the region and a number are seeking professionals on a short-term basis to ensure they complete business-critical projects and cover existing workloads.”

Burberry Appoints New COO

By: GLOBAL ACCOUNTANT
Published March 4, 2013, in Career Update

Burberry announced the appointment of John Smith in to a newly created position as COO. This is said to be in line with Burburry’s strategy and that it reflects the restructure of the executive team.

John has over 20 years’ experience in the media industry, most recently as Chief Executive of BBC Worldwide from 2005 to 2012, where he oversaw its significant expansion through the development of successful global franchises and innovative formats and platforms. With sales of over £1bn, BBC Worldwide broadcasts compelling content to over 100 countries. Prior to BBC Worldwide, he was Director of Finance then COO of the BBC.

John brings Burberry a unique skill set in global brand management and new media, combined with strong financial and operational experience. He will work with existing teams to drive the operational execution of Burberry’s brand strategies, particularly in digital media and mobile technology; to optimise the potential of the new Beauty division across all platforms; and to realise further efficiencies, reallocating resources to enable continued investment for growth.

Angela Ahrendts, CEO, commented:

“We are thrilled to announce John’s appointment to the new position of COO, which is an important step in the next phase of Burberry’s development. His exceptional global brand and media expertise, together with his track record in finance and operations, will be invaluable as we continue to combine proven strategies and innovative execution to drive growth in the mobile digital age.

John’s appointment positions us strongly to optimise the significant opportunities available to the brand by channel, region and product division, and to unlock the potential of unprecedented changes in consumer behaviour. He will be a tremendous addition to our closely connected global team.”

John Smith commented:

“This is a hugely exciting time to be joining the executive team at Burberry. From my three years on the Board, I understand the significant opportunities that exist for the business globally and the unique culture that drives its performance.”

No Sweat: Tips for Overcoming Presentation Jitters

By: GLOBAL ACCOUNTANT
Published February 27, 2013, in Career Update

You’ve been asked to give an important presentation at a company-wide meeting. You don’t like speaking in public; in fact, you’ve never before faced an audience as large as this. So, you’re feeling very nervous — and frankly, wondering if there’s some way you can get out of the gig.

PRESENTATION

Hold on

Before you try to bail out, consider the potential impact that doing so may have on your career. Today’s employers expect accounting and finance professionals to possess more than just stellar technical and financial abilities — solid “soft” skills are also essential, and that includes oral communication. (Check out the recent webinar from the American Society of Women Accountants and Robert Half that discusses this trend.)

Yes, you have “the jitters.” But begging your boss to let you off the hook could limit further opportunities at your company. For example, it could earn you a reputation for not being a team player. It also may undermine your value to the organization because your lack of confidence could cause others to view you as a person who can’t rise to a challenge. The best course is to steel up and start preparing. Here are some tips for overcoming your nervousness:

Embrace your role as an authority

First, stop and think: If you’ve been asked to speak on a particular topic, it’s likely because you’re considered to be a subject-matter expert in that area. You’re responsible for imparting information and insights to the audience that perhaps only you are qualified to provide. Now, doesn’t that knowledge give your confidence (and ego) at least a little boost?

Plan out your “story”

If you’re nervous about presenting, you might be tempted to just “wing it” and hope for the best. However, if you don’t prepare, more than likely you’ll be setting yourself up for a speaking disaster. The number-one tip for overcoming nervousness about public speaking is to know your material. Even though you may be considered an authority (see previous point), you have to organize your information and present it in a compelling way. It may help to think of your presentation as a form of storytelling. Start by figuring out what your audience should take away from your presentation. Then, build the “backstory” and the “plotline” that will help give the audience historical perspective on your topic, what it means to them right now, and how it might impact them in the future.

Find your voice

Rehearsing your presentation thoroughly is essential to helping you keep jitters in check on the big day. When you practice, speak aloud and in a strong and clear voice. Figure out the best places in your presentation to pause and take a breath. This will help you to relax once you’re in front of the real audience — and will prevent you from rushing through the information. Consider practicing in front of a trusted colleague to get feedback on your delivery. You may even want to engage in a mock Q&A session with that person, so you’ll be prepared to speak off the cuff in case your real audience has questions.

Lastly, remember that your audience doesn’t want you to fail because they’re eager to be informed — and to a degree, entertained. Their expectations do add pressure on you, of course, but they can also can help to give you purpose. And even if you never grow comfortable with public speaking, knowing how important it is to your audience — and perhaps, to your career — can give you confidence to face the crowd every time.

ROBERT HALF GLOBAL ACCOUNTANT

This article is provided courtesy of Robert Half International, parent company of Accountemps, Robert Half Finance & Accounting and Robert Half Management Resources. Robert Half is the world’s first and largest specialized staffing firm placing accounting and finance professionals on a temporary, full-time and project basis. Follow Robert Half on Twitter at twitter.com/roberthalf

Ralph Hamers Nominated CEO of ING Group

By: GLOBAL ACCOUNTANT
Published February 22, 2013, in Business, Career Update

ING announced today that Jan Hommen will step down from his position as CEO of ING Group per 1 October 2013. He will be succeeded as CEO by Ralph Hamers (1966, Dutch) currently CEO of ING Belgium.

Jan Hommen’s current four-year term in the Executive Board will expire after the annual General Meeting (AGM) on 13 May 2013. The Supervisory Board will propose to the AGM to re-appoint him for the period until 1 October to ensure a smooth leadership transition. Ralph Hamers will be nominated as a member of the Executive Board per the AGM. As of 1 October 2013 he will succeed Jan Hommen and become the eighth CEO of ING Group.

Jan Hommen has been a member of the Supervisory Board of ING Group since 2005 and its Chairman since 2008. In 2009 he became CEO of ING Group and Chairman of the Executive Board.

Following his appointment to the Executive Board Ralph Hamers will also become a member of the Management Board Banking (MBB) and Management Board Insurance EurAsia (MBE), and as of 1 October 2013 he will succeed Jan Hommen as CEO of the MBB and MBE. Decisions regarding the composition of the Board of Directors of ING US are pending in light of the company’s planned IPO.

Jeroen van der Veer, Chairman of the Supervisory Board of ING Group said: “Over the past four years Jan Hommen has done an outstanding job, guiding ING through the most challenging period in its history. Under his stewardship ING not only became financially stronger and less complex, but it also managed to put the customer again at the heart of the company. We are glad he has agreed to stay on for another five months to ensure a seamless transition. We are convinced that in Ralph Hamers we have found a successor who has the leadership style, skills and expertise to continue to execute the strategic course ING is on.”

Jan Hommen, CEO of ING Group said: “It has been an honour to serve ING in these extraordinary times for both the company and the financial sector. I am proud of what we have achieved for ING, our employees and our customers over the past years. Ralph Hamers is an excellent choice to carry on with the many tasks that still lie ahead on our road towards successful, independent futures for our Insurance and Banking businesses. I am determined to do everything in my capacity to make sure that Ralph can take over smoothly on 1 October .”

Ralph Hamers has a wealth of experience in both Retail and Commercial banking and an excellent track-record in risk management and in leading strategic change processes. Ralph Hamers has been CEO of ING Belgium and Luxemburg since March 2011. There, he played a pivotal role in driving the strategic “universal direct model” to expand online sales channels and modernise the branches. He holds a Master of Science in Business Econometrics/Operations Research from Tilburg University in the Netherlands and has completed professional programmes at the Netherlands Institute for Banking, the Amsterdam Institute of Finance, Oxford University and INSEAD.

Ralph Hamers joined ING in 1991 as a relationship manager for Structured Finance in the Global Clients Division. In 1997 he moved to Global Risk Management and he became General Manager of ING Romania in 1999. In 2005 he was appointed CEO of ING Bank in the Netherlands before becoming Global Head of the Commercial Banking Network in 2007. In 2010 he was appointed Head of Network Management for Retail Banking Direct and International. In that year he also became member of the ING Banking Management Team which governs corporate development and strategic activities.

Ralph Hamers said: “I am extremely proud that the Supervisory Board has expressed its confidence in me and nominated me as a member of the Executive Board and the next CEO of this company. Together with my colleagues I am determined to build on the strong , customer-oriented foundation that Jan Hommen has laid for us. I look forward to working with Jan and the other Board Members towards the handover in October. ”

ING’s 2013 Annual General Meeting of shareholders will be held in Amsterdam on 13 May 2013. The full proxy materials relating to the meeting will be made available on the ING website (www.ing.com) as of 28 March 2013.

Gary Kabureck appointed to the IASB

By: GLOBAL ACCOUNTANT
Published February 21, 2013, in Career Update

The Trustees of the IFRS Foundation, oversight body of the International Accounting Standards Board (IASB), announced today the appointment of Gary Kabureck to serve as a member of the IASB for an initial term ending 30 June 2017, renewable for a further three years. He will join the IASB in April 2013.

Mr Kabureck is a prominent and highly respected financial reporting practitioner. Since 2001, he has served as the Chief Accounting Officer (and since 2003 as a Corporate Vice President) for Xerox Corporation – a Fortune Global 500 constituent, $22 billion technology and services company operating in more than 160 countries. With global responsibility for both IFRS and US GAAP accounting processes and a team of more than 1,200 accountants worldwide, he has oversight of Xerox’s accounting policy development, implementation of new accounting procedures, internal and external financial reporting, as well as internal controls. Prior to becoming Chief Accounting Officer, Mr Kabureck held various senior accounting positions at Xerox, beginning in 1985. His professional career began at PricewaterhouseCoopers in 1975, where he worked for ten years.

In addition to his practical experience, Mr Kabureck is recognised as a leader in the accounting profession worldwide. He is an active member of Financial Executives International (“FEI”) – a leading association for senior level finance executives. Since 2006, he has participated in FEI’s Committee on Corporate Reporting and for many years has led the liaison between accounting standard-setters and FEI members regarding technical matters. Mr Kabureck also serves on a range of other advisory boards, including those to the Public Company Accounting Oversight Board (PCAOB) and previously the US Financial Accounting Standards Board (FASB). He is a frequently sought speaker on a wide variety of professional accounting and auditing matters.

Scottish Consultancy Appoints Five

By: GLOBAL ACCOUNTANT
Published February 19, 2013, in Career Update

Alexander Sloan chartered accountants and business advisers, which has offices in Glasgow and Edinburgh, has recruited a new partner and also promoted four of its team.

Back left to front right – Phil Morrice, David Jeffcoat, Kevin Booth, Steven Cunningham and Allison Devine from Alexander Sloan

The firm has promoted Phil Morrice, Steven Cunningham and Allison Devine from associates to partner level while David Jeffcoat has been promoted to associate. The 34-year-old joined the firm in 2004 and was previously an audit manager.

Kevin Booth has also joined the firm as partner after 14 years with another medium-sized accountancy firm in Glasgow. The 44-year-old will primarily work with commercial clients and franchising businesses.

Phil (41) joined the firm in 1993 as an audit assistant, and works predominantly with housing associations, while Allison (34) and Steven (35) have both been with the firm since being recruited as trainee accountants after graduating from the University of Strathclyde in 1999. Allison and Steven specialise in charities and credit unions respectively.

Alexander Sloan senior partner Andy McBean said:

“We have a wealth of expertise within the firm and we’re delighted to be able to reward the hard work and loyalty of our team through a series of promotions and to also welcome Kevin to the firm.”

Ewen Scott, Managing Partner at the firm, added:

“Despite the tough economic conditions we are operating in we continue to grow our support and advisory services for SMEs across Scotland and it’s fantastic to be in a position to strengthen our team and service offering.

“Phil, Steven, Allison and David have worked extremely hard since joining us and we congratulate them on their respective achievements which are thoroughly deserved.

Alexander Sloan can trace its roots back to 1867 and is the Scottish representative of DFK both in the UK and internationally.

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