KPMG UK has appointed Mary O’Conner as the firm’s chief risk officer to oversee its risk management framework, including quality and risk management and the legal function.
The appointment follows a wave of scandals and inquiries which have involved the Big Four firm including the Carillion collapse and reported scrutiny from the Bank of England’s Prudential Regulation Authority.
KPMG UK’s chairman Bill Michael said: “Like any professional services firm we are operating in a period of significant change, and the risks we are facing are evolving – from complex regulatory and geopolitical change to providing new technology based services for our clients.”
“Societal expectations of large businesses are also shifting, particularly for firms which have a public interest responsibility. It’s therefore essential that we continually invest in our risk management processes and procedures and seek fresh insights to how risks are anticipated and managed.”
O’Connor will join KPMG at the end of August from Willis Towers Watson where she led the client and business development function and the global financial institutions industry group. Prior to this, she served as a senior regulator in both the US and the UK.
PwC UK has also appointed Sarah Isted as financial services risk and regulations practice leader. She takes over from George Stylianides who will continue to lead PwC’s EMEA and global risk practices.