Manager Panel Flashcards
Give the overarching engagement lifecycle
Winning the work
Setting up the work
Doing the work
Releasing the work
Closing the work
Give the processes in winning the work?
Conflict check - can we do the work?
TOP - should we do the work?
DRB - advise on high value or low margin opportunities.
Tuesday Group - public interest of potential new engagements, check with the RA risk leader first.
Second partner - challenge commitment, risk assessment within TOP, review proposal.
Third party - BRSM record
Jupiter
Purpose: opportunity and pipeline mgmt really. In DS&J there are some engagements that are so sensitive we can’t really use it always. So I helped develop a pipeline tool for the account.
Stuff:
By ‘proposal submitted’ and ‘orals’ it should be tentative in StaffI
Conflict Check
Purpose: Ensure we don’t do work that may create a perceived or actual conflict of interest with existing work we’re doing for them, or other clients/3rd parties.
PS - ESRA too - engagement security risk assessment
TOP
Purpose: Risk mgmt system in winning the work to assess and mitigate associated risks
Stuff: important conflict check, Client Assessment and Engagement Assessment, pre-approvals, approvals, post approvals, risk mgmt plan, complete all actions. Quality plan maybe too.
If existing client, TOP prompts CDD review, if new the QR ops team need to do it
DRB
Purpose: To advise on/approve high value or low margin opportunities. Improve winability or maximise profitability
Tuesday Group
Public interest of potential new engagements, check with the RA risk leader first.
Stuff: two DRBs, one FS and one Corporates + GPS.
Criteria: less than 25k not permitted, extensions less than 25k where GM isnt 65%, 50-500k where GM isnt 60%, greater than 500k
Second Partner Review:
CC, TOP, Engagement letter, proposal.
Setting Up the work key steps
Project plan and quality plan
Engagement letter (if no MSA) - ensure liability cap is right, must be signed
MSA - master services agreement - sets out overall client agreements (check LCSP)
BRMS
Doing the work key steps
Risk Mgmt - keep TOP/CC up to date
Data Security
Deliverables/work products
Releasing the work
Quality Reviews (independent and engagement team)
QRProcess -
Regulatory Assurance Review
QRP
Second partner or someone else
Required on WPs if mostly Deloitte original or clearly identifiable to us, not if done collaboratively
Closing the work key steps
Billing/invoicing
Cash collections
Document retention
Secondments
Use Deloittes standard terms of business
Tuesday Group vs DRB?
Tuesday Group - Ethical, DRB - value
Areas of development?
Continue developing my people
Continue building network
Invitaiton to win course
Interviewing course
What if something is going wrong
Chat to a partner od Director verbally, then they would sort with QRM team or contentious matters
What if we exceed budget?
Speak to director or partner, suggest altering the discount rate, avoid reducing hours
Always need a second partner?
Yes
NDA required?
When not covered by EL or 3rd party
Statement of work vs engagement letter?
EL is a contract when an MSA isnt in place. SoW outlines core components like cost and scope
Other member firms?
Have them on the TOP. For NSE use a call off contract. Outside need IFA
Raise a WBS?
Got to ESS and ask them to setup standard billing rate
Hold harmless letter?
When outputs shared with 3rd parties stops us being liable
What does leadership mean to you?
I think it’s different form management. Management is just organizing people to do things. Leadership involves you doing by example. It involves you being part of the team not above of it. Inspiring other peoples development, not just using them for your own goals.
Difficult client situ
Potentially caught up in an internal conflict where we were being seen as designing something which couldn’t be run easily within the org structure. Which we knew to an extent but ultimately it was our direct unit within the client that wanted it that way.
