Greg Scherrer

Greg Scherrer co-led the development of KPMG’s third-party compliance initiative to address emerging regulatory areas and enable consistency of application of third-party evaluation processes. It includes extensive updates to policies, new IT systems with automation and workflow, implementation of intricate processes and the creation of an entirely new shared service.

Since launching in September 2023, the new service has cleared engagement for more than 750 third parties and will eventually scale up for use throughout the global organization of independent professional services firms providing audit, tax and advisory services. The service has also been a great time-saver for KPMG’s engagement team.

“We don’t need our partners and engagement directors and managing directors getting a temporary PhD in risk policy as it pertains to third parties,” Scherrer explains. “So, we take all of the burden of the evaluation and perform those steps on their behalf, and then we really give them a memo that allows them to ultimately accept the risk or decide to go in a different direction with respect to the third party.”

Scherrer, who joined KPMG in 2011 as part of an acquisition, is also part of a large project launching this year to centralize many of the contingent workforce management office’s resources, expanding the scope of services that it provides to the business internally and reducing the burden on business teams.

“They can really rely on the central team to do these things on their behalf,” he says. “Ultimately, when our business partners are successful, that means we’re successful. And that’s always very rewarding.”