Hundreds of jobs on the horizon as KPMG launches outsourcing service
Firm Controller for KPMG LLP, Joseph Arena (left); Prime Minister Andrew Holness; Managing Partner for KPMG in Jamaica, Tarun Handa; Partner for Outsourcing at KPMG, Donald Barnett and Rev Ronald Thwaites gathers for the ribbon cutting ceremony of KPMG Jamaica Extended Support Services (K-JESS) on Tuesday.
Audit and accounting firm, KPMG Jamaica has diversified its offerings to include nearshore outsourcing services.
KPMG Jamaica unveiled its state-of-the-art shared services facility at 59 Harbour Street, downtown Kingston on Tuesday, following an agreement between the firm and its US-based member firm, KPMG LLP, to provide market development, finance and accounting and human resource services for the US market.
The unveiling, which was attended by Prime Minister Andrew Holness, KPMG US stakeholders among other local government officials, marks the beginning of a service that is expected to provide the country with 425 additional jobs by 2022.
The Kingston-based shared service facility, which currently employees 100 professionals has the capacity to seat 175 employees. KPMG wants to move that number up to 250 by July 2019 and thereafter, will invest into a new facility in Montego Bay to meet the projected staff count for KPMG JESS of 425 by 2022.
“Today we are therefore very happy to report on two major diversification initiatives that we have successfully executed. First in 2015, we commissioned the KPMG Islands Group Audit Team Extension Centre providing support to KPMG Cayman and KPMG Bermuda clients.
“That growing opportunity, which is an extension of our long-time audit business, could not match the scale of today’s event, the launch of a shared service facility,” Managing Partner for KPMG Jamaica, Tarun Handa said.
According to Handa, the launch of K-JESS not only capitalizes on Jamaica’s strategic location but also offers high quality, well-paying jobs with world-class training, facilities and work environment for Jamaica’s young people.
Jobs within KPMG Jamaica’s new business unit range from market research, compliance audits, investigations, proposal writing and learning management. The productivity of the Jamaican group will assist KPMG US engagement teams to more efficiently carry out services to a host of Fortune 500 companies.
“With a good reputation for quality in our market and internally within KPMG, and given Jamaica’s advantages as a near-shore location vis-à-vis the United States, it became natural for us to seek opportunities for outsourcing within KPMG,” Handa explained.
KPMG Jamaica is a member firm of KPMG International and together with its predecessor partnerships, has been present in Jamaica for over 100 years. The firm has two full-service offices in Kingston and Montego Bay and employs over 475 professionals.
The launch of K-JESS will take KPMG’s footprint in Jamaica to over 800 people by 2022 across its audit, tax, advisory and outsourcing business lines.
KPMG in Jamaica is a member of the KPMG Islands Group, a sub-region of KPMG member firms working in the Bahamas, Barbados, Bermuda, British Virgin Islands, Cayman Islands, the Eastern Caribbean, Isle of Man, Jamaica, Jersey, Malta, Guernsey, Trinidad and Tobago and Turks and Caicos Islands. Collectively, the global company employs more than 200,000 people.