August White

Experience

• 

  KPMG in Deutschland

  Jan 2004 - Sept 2005

  Senior Associate

  Assisted in creating financial valuation models for use in indicative pricing and negotiation of corporate transactions.

• 

  KPMG UK

  Oct 2005 - Aug 2010

  Prepared financial information in the prospectus for listing on the London Stock Exchange and financial disclosures in the Group statutory financial accounts, including accounting for an acquisition in 2009. Assisted with UK GAAP to IFRS conversion of the group financial accounts. Notable Achievements• Successfully worked on a large project team preparing and documenting audit financial information contained within a 500+ page prospectus for listing on the London Stock Exchange • Prepared historic 2007 and 2008 UK GAAP to IFRS conversion for the former Resolution companies used to prepare the 3-year track record required by the UK Listing Authority Show less Participated in various buy and sell-side due diligence engagements, acted as reporting accountant post-transaction and provided vendor assistance to financial services clientsNotable Achievements• Completed the effective analysis and reporting on expenses relating to the insurance arm of RBS (Churchill, Direct Line, Privilege) as part of a ‘buy-side’ due diligence engagement for a private equity client• Delivered ‘sell-side’ assistance for the disposal of ABN Amro to RBS, Fortis and Santander Show less

  • Secondee to Pearl Group

    Sept 2009 - Aug 2010

  • Assistant Manager – Transaction Services

    Nov 2007 - Aug 2010

  • Audit Assistant

    Oct 2005 - Oct 2007
• 

  Phoenix Group

  Sept 2010 - Apr 2016

  Drafted commentaries on financial performance under IFRS, embedded value, solvency and other key financial metrics for inclusion in the Group's external statutory reporting. Led development on reporting related to the Solvency II regulatory reporting regime and reviewed regulatory solvency reporting provided to the regulator. Supported the Head of Group Financial Reporting with assessment of implications across all financial metrics of the Group's overall strategy and corporate project activity.Notable Achievements• Successfully negotiated the external audit and annual report timetable with all stakeholders to meet LSE reporting deadlines, continually driving efficiencies in this process, reducing the timetable by an average of 3 days• Undertook due diligence on 2 acquisition targets, assessing the financial implications to the Group, adding an additional £22B of assets under management and 1.6M policyholders• Worked closely with the Treasury Department to obtain an investment-grade credit rating from Fitch Ratings, reducing the cost of the Group's bank debt by 50 basis points (bps) and broadening access to financing in debt capital markets• Appointed as Finance Lead, working with the Treasury Department to complete an exchange offer of debt with a 99% take-up rate by noteholders, improving the solvency II position of the Group by £428M Show less Managed a team responsible for the preparation of Group statutory financial accounts, notes to the accounts, embedded value and solvency regulatory reporting consolidation. Reviewed detailed consolidation of the Group for IFRS, embedded value reporting and solvency regulatory reporting. Notable Achievements• Drafted the financial disclosures for Group’s first listed bond debt issuance circular raising a £300M unsecured bond• Accounted for a restructuring of 2 legacy banking facilities to a single unsecured banking facility, simplifying the Group's debt structure and lowering interest costs by 3.75 bps• Accounted for and disclosed the divestiture of the Asset Management division, reducing the Group financial gearing ratio to below its 40% target• Drafted the financial disclosures required for the additional raising of £250M of new equity and accounted for and disclosed this transaction in the Group accounts, reducing the group gearing by 2.5%• Accounted for the portfolio transfer of £5M liabilities, improving the Group solvency position by around £4M while reducing the longevity risk Show less Prepared Group statutory financial accounts, financial information and participated in solvency consolidation. Documented technical accounting issues, applied consolidation adjustments and assisted implementation of new IT financial reporting systems.Notable Achievements• Maintained, documented and accounted for more than 100 separate group and detailed consolidation adjustments in preparation of the statutory financial accounts and information• Assisted with implementation of IBM Cognos Controller, performing and signing off on UAT and tracking and remediating defects for a successful implementation• Prepared Group statement of equity, including calculating minority interest and cash flow statement using Excel and notes to the accounts, effectively documenting everything for audit purposes Show less

  • Group Financial Reporting Manager

    Dec 2014 - Apr 2016

  • Group Reporting and Consolidation Manager

    Nov 2012 - Nov 2014

  • Group Financial Accountant

    Sept 2010 - Oct 2012
• 

  KPMG Singapore

  Dec 2019 - Jun 2022

  Associate Director

  Lead and deliver insurance industry accounting advisory engagements with responsibility for business development and proposal delivery on better business reporting opportunities. Drive the engagement and motivation of remote working teams and develop and train junior accountants on insurance industry accounting and general finance topics. Actively participate in ASPAC discussions with SASB and IIRC on integrated reporting for companies and groups.Notable Achievements• Successfully leading and delivering 2 IFRS 17 insurance contract implementation engagements for key MNCs• Delivered profitable proposals for 6 better business reporting advisory opportunities• Delivered insurance technical accounting positions to auditor, significantly reducing client IT system implementation risk• Led the development of an IFRS 17 compliant chart of accounts and posting scheme for small to medium general insurers in Asia, to be used on at last count 4 engagements with revenue generation of SGD 2.4M Show less