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The new regulation will have a significant impact on these companies for obvious reasons. Of course, the sequence of importance when it comes to these elements varies from practice to practice.
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As advisors to industry, we provide a valuable benefit, since large businesses are regularly confronted with a bevy of challenges that range from the commonplace, such as not having the internal subject matter experience needed in order to execute upon critical initiatives, to the less mundane, such as perhaps a regulatory mandate to leverage independent third-party consultation.
This is crucial, since if you cannot sell yourself to the hiring manager, how will you be able to sell yourself to the client? It may require patience before you get your first major opportunity to shine. Once the SOW is signed by the client and the resources obtained, the project can then officially commence.
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The candidate must posses either the ability to sell work to clients, or he must bring with him a book of business or a major network of opportunities.
When I received answers to my inquiries from people in the profession, many of whom continue to this day to be my friends, I was intrigued.
You need to be able to work with all of them in order to help them and your team to be successful. Assurance, Transaction, Tax and Advisory.
Over a two month period I had scheduled and met with over thirty different Partners, Senior Managers and Managers just to introduce myself and get my name out there. For instance, Assurance work typically focuses on producing audit reports or official attestation to formally document findings for a client.
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Take those experiences with you from client to client. You may need specific training to position yourself for an opportunity.
But there are major differences between hiring a candidate straight out of school versus hiring an experienced professional. You have made my day! Sold opportunities need your skill set but the internal engagement manager did not feel you were the right fit for the project.
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With all that said, exposure to these personalities and challenges is extremely valuable. This type of structure where engagement teams utilize less experienced personal to do the bulk of the work, with oversight provided by senior management, is called a leveraged model.