1. KAREN HOARE
FINANCE PROFESSIONAL with a record of achievement in developing and leading high-value finance
transformations. Strengths in finance operating model design and delivery, complex ERP and financial
systems design and implementation, project management, shared services, outsourcing and business
transformation and re-engineering. Karen has lead transformation programmes spanning Transport, Travel
and Financial Services
July 2013 to present – KPMG
Financial Services Technology Enabled Finance Lead
Appointed by KPMG to define the strategy and to lead the design and implementation of, their Financial Services Finance
Systems practice.
Defined the strategic options for the development of the new Technology Enabled Finance Transformation initiative. Created
business plans, resource plans, go to market approaches and set up alliances with the major software vendors. Supported
the development of financial services proprietary assets. Established cross-industry working group to leverage existing
finance systems skills and experience and to encourage one way of working and build out of toolkits and methods.
Supported the development of Powered Finance (Oracle Fusion based Finance Transformation asset) with specific focus on
client facing assets; Cloud Adoption Framework, Cost Models, Delivery Model etc. Responsible for developing the Powered
Finance pipeline for Financial Services.
UK Life Insurer
Technology Enabled Finance Transformation
Bid support for a UK Life Insurer Oracle Fusion enabled finance transformation. Won. Fees £12.4m.
Acted as the Quality Director for the initial Design Phase of the Programme to provide assurance on the solution design.
Global Insurance Institution
Bid lead for a Global Insurance institution SAP enabled finance transformation. Won.Fees £15m.
August 2011 – June 2013 – Willis Ltd – Transformation Director
Transformation lead responsible for the organisation design, change management, communications, business readiness and
training associated with the global Finance Transformation Program (US$ 80m program; 500 Finance staff)
For organisation design defined global organisation structures, sizing, role profiles, rewards, banding and career paths for
Shared Services (on shore and offshore). Reduced number of finance role definitions globally from 170 to 35. Indicative
headcount reduction predicted to be 15%. Mumbai offshore centre live January 2013. Defined the Business Partner model
and job roles.
Established learning portal for Finance with clear learning paths for new PeopleSoft solution. PeopleSoft ERP training
successfully delivered for 120 UK staff. Hyperion Planning successfully delivered to 276 staff globally,
Defined the Business Readiness approach and methodology to ensure the smooth transition to the new PeopleSoft ERP,
new processes and new ways of working.
Chair of Transformation Steering Group (Global Finance Leadership) and Finance Leads Forum (UK Finance Directors)
July 2007 – July 2011 - DELOITTE MCS Ltd – Associate Partner
Global Insurance Broker
Finance Target Operating Model Design
Delivery lead for the10 week design phase to define the Finance target operating model for a Global Insurance Broker.
Defined Organisation Model, Process Model and Technology Model for a global Finance function comprising 500 staff. The
new organisation comprised near and off shore shared services together with a new Business Partnering model. Annualised
staff cost saving forecast to be £ 5.0m per annum.
Global Retail Bank
Bid lead for Group and Division Consolidation and Reporting Solution
Successfully led the bid for a £18m transformational change program for a recently merged global retail bank. Program
comprises the design and implementation of a new group and division management reporting solution together with the
implementation of a new financial consolidation system. Running in parallel is an initiative to optimise the current ERP
instance and define business requirements for the merged entities new ERP solution.

2. UK FS Institution
Finance Target Operating Model Design
Delivery lead for the design of the Finance target operating model for a new financial services institution (banking and
insurance). Worked with the finance leadership team to define; vision and guiding principles; benefits realisation metrics;
process scope and taxonomy; organisation model components and organisation design; technology model.
Defined the transition of finance data from legacy (third party) systems into the new ERP.
Supported the Change Management team in the definition of plans and approach in order to secure budget approval from a
client that was reluctant to invest spend in change activities.
European Insurer
Delivery lead for Finance Transformation - Foundation Phase
Supported the clients programme director to shape the approach to Finance and Actuarial transformation across Europe.
Developed trusted advisor relationship with the European CFO to enable sell on programme assurance work and to ensure
inclusion in the Finance Systems RFP.
Bid lead for Finance Systems Implementation
£ 1.5m Oracle R12 deployment programme. Down selected to final 2 vendors; RFP awarded to competitor on price.
Global Investment Bank
Delivery lead for Scoping and Mobilisation Phase – International Change Programme
Led a team of 6 consultants in the scoping and mobilisation phase for the International Banks change programme
(PeopleSoft ERP and new operating model). Project ‘mothballed’ due to lack of US funding.
Bid lead for Global Finance Change Programme
Successfully led the bid for a $16m transformational change program for a global investment bank. Programme comprises
t he design of a new operating model for finance which will be supported by the global implementation of PeopleSoft ERP
and a new reporting suite.
Responsive Finance Global Lead
Created a new global finance transformation proposition in collaboration with SAP. Responsibilities included; creation of
collateral, creation of SAP Account Executive training materials; client communication briefings and external marketing
campaign e.g. Analyst (Gartner, Forrester etc.) webinars. Lead the initiative supported by Responsive Finance country leads
(70 FTE). Target global Deloitte service fees FY11 US$ 60m. Identify and develop emerging initiatives e.g. liquidity planning
and taxation (Cloud based solution).
FSI Deloitte/SAP Alliance Manager
Manage the Deloitte/SAP FSI alliance. Agree target clients, client propositions and strategies. Ensure relationships are
maintained and origination opportunities are maximised for Deloitte.
Practice Manager SAP Practice
Practice Manager of the UK SAP Practice (100 staff).
1996 – July 2007 Accenture – Senior Executive
Enterprise Finance Transformation (AIB)
Delivery Lead
€ 60m transformational change program for AIB. Sales assist and delivery lead for the programme which comprised the
design and implementation of a new technical architecture (SAP ERP, data warehouse and reporting suite) together with the
design and implementation of a new Target Operating Model (TOM) for Finance and Risk. The TOM introduced a new shared
services facility together with new roles for retained finance and Group. Program spans retail banking, capital markets,
insurance and risk across Europe. Cost reduction 20%.
Financial Services Finance and Accounting FY05 Sales Campaign Lead
Responsible for the design and execution of the FY05 sales campaign. Target sales $30m. Campaign embraced 6 themes;
Insight Driven Credit & Collections, Finance Strategy & Operations, Enterprise Performance Management (EPM),
Outsourcing, Procure to Pay and Risk and Regulatory Management. Key achievements included the education of operations
IT orientated client partners in the F&PM offerings and new client leads with 2 insurance companies and 3 banks.

3. Target Operating Model for Finance (LTSBI)
Delivery Lead
Sales led and project led the design of the Target Operating Model. Reduced cost of finance by 12% and reduced the period
end cycle by 5 working days. Operating model comprised solutions for organisational design, technology, process
reengineering and enhanced EPM.
Customer Accounting Target Operating Model (RSA)
Delivery Lead/Solution Architect
Sales assisted and project led the creation of the target operating model for Customer Accounting, which consolidated people
and standardised processes from seven operating locations to two UK locations. The TOM included an Insight Driven Credit
& Collections project aimed at providing revenue lift, reducing working capital and improving cash flow. Benefits delivered
included the reduction in the cash and collections headcount from 376 to 295, annualised savings of £ 18m together with a
once off cash flow benefit of £100m. Technology standardisation and BPO offshore solutions planned for 2006 will offer
further headcount savings.
Finance Transformation (M&SFS)
Solution Architect
The FS organisation was undergoing a programme of considerable change as it moved from its current offering and
expanded its market presence. This change required a new finance organisational model and set of skills to support the
business, building in finance best practice where appropriate. Key deliverables included:
- Cost reduction of 15%
- Created a high level target finance organisational model to support the new operating model;
- Produced a high level plan for transition to the new organisational model, aligned to the process required by
PeopleSoft and Khalix.
- Identification of skill sets required for each area.
Interim Director, Finance and Reporting Service Centre (FRSC) (Barclays)
Interim Director of the FRSC (138 staff rising to 238) managing operational transformation and a change program which
transitioned 100 resources from Barclays business areas into the FRSC
Defined interim organisational design to improve operational control, service delivery and efficiency of the service centre.
Delivered a substantive improvement in service delivery and operational control to ensure audit compliance and
achievement of FRSC’s checkpoint criterion for a major Bank’s Finance Change Program Go/No Go Checkpoint in October
2002
Implemented financial controls process for profit & loss and balance sheet
Delivered 2002 headcount reduction of 17% (cost), reduced period close cycle by 3 days, increased service delivery from
82% to 98%
Represented the FRSC for a major Bank’s Finance Change Programme; provided consultancy on recruitment, transition and
programme management
Finance and Accounting Transformation & Outsource (Thomas Cook)
Programme Manager and Shared Service Unit Lead
Subsequent to the creation of the outsourced service centre, led the Finance and Accounting Shared Service Centre Team
(140 staff) and facilitated the smooth TUPE transition from client to Accenture:
Project managed the specification of SAP FI and CO (financial reporting and management information)
Delivered the interim service framework (service level agreement, service measurement, governance model and escalation
procedures)
Developed financial control processes for balance sheet assets and liabilities
Defined headcount savings arising from SAP implementation and the merger of 2 accounting centres
Chairperson of client MI Forum (CFO and business finance directors). Ensured delivery of standardised accounting policies
and MI reporting definitions and formats. Guided the client in its development of its MI ‘vision’ (vertically integrated reporting)
Banking Operations Mortgage Processing Unit (UK subsidiary of AMP) Program
Manager
Project managed the creation of a UK direct, branchless Mortgage Processing Unit (MPU), via a cost effective global
platform. Bank launched successfully on 19 June 2000 delivering market leading service offerings.
Defined and implemented management information system to monitor productivity, KPI’s and third party performance
Ensured compliance with legislative and FSA requirements
Led the MPU for the first 12 months of operations Member
of the AMP Bank UK Board of Directors
Negotiated and managed contractual operating level agreements with third party providers Project
lead in 3 Bank strategies: Internet Banking, Mortgage Outsource and Panel Management
Transformational Finance and Accounting Outsource (Exel Logistics)
Program Manager and Shared Service Centre Unit Lead
Senior member of the transformational outsourcing team responsible for the creation of a new shared service centre for

4. Exel Logistics and Pickfords Removals based on a new ERP (Oracle).
Participated in structuring the closure program for the 3 accounting centres and the subsequent transfer of work to the
Greenfield accounting centre at Bedford. (Headcount reduction of 300).
Project managed the specification and implementation of Oracle Financials. (Client scope: Revenue £1.1bn, 1100 users,
600k transactions per period, 250 operating locations, project team of 100).
Design and implement Service Management Framework (service level intentions, operating level intentions, customer
service culture, balanced scorecard, service reporting)
Creation of Financial Awareness training for operations teams/Oracle users.
Subsequent to the design and implementation of the outsourced unit, led and managed the Accounting Services team of 100
(Financial reporting, Statutory reporting, Treasury, Management reporting and Taxation)
1994 - Apr 1996 FINANCE DIRECTOR - Management Information Services:
Exel Logistics UK & Ireland - Revenue £1.1bn Transport and Logistics Services
− Defined and implemented MIS and EIS for Exel Group Head Office and 250 Operating Sites.
− Reduced the timescale for period reporting by 5 working days.
− Controlled and fully automated the Budget and Planning processes, covering data input from 250 sites (or 6,500 cost
centres).
− Participated in negotiation of joint venture with turnover of £37m.
− Introduced Standard Projects Appraisal software package for Group.
1991 – 1993 FINANCE & SYSTEMS CONTROLLER: BRS Ltd - Revenue £499m Transport and
Logistics Services
− Integrated four accounting centres reducing overheads by £3m (including staff and property). Defined new processes
for consolidated accounting centre.
− Participated in the working party responsible for managing company restructuring process, reducing overheads by
£6.0m.
− Project managed the specification and implementation of McKeown accounting and management information systems,
including ledger specification and software vendor selection.
− Formulation and introduction of standard accounting policies to allow comparability of data across the Group.
− Preparation of Statutory Accounts, Tax Computations and VAT returns.
− Provide commercial support to the start-up of the £30m revenue Storehouse project. (Customer liaison and
presentation, asset refinancing, contract terms, etc.).
1990 – 1991 DIVISIONAL ACCOUNTANT: Home Services Division - Revenue £537m Domestic and Industrial
Moving Services both UK and International
− Undertook due diligence exercise in respect of successful European acquisitions.
− Provided critical financial analysis for Executive Board.
1987 – 1989 SENIOR FINANCIAL ANALYST: NFC plc