Main Responsibilities of a Consultant at a Big 4 Consulting Firm
As a consultant at a Big 4 firm, Jack's responsibilities are project-based, where "brains are for hire" to execute projects for clients based on pre-defined specifications. Currently, the consultant's work involves tailoring technology, such as BlackLine, to a company's specific needs, much like customizing an iPhone, but on a much more complex scale, to enhance processes like account reconciliations.
Consulting, Project Management, Financial Reporting, Technology Implementation, Business Process Improvement
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
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Jack Hirsch
Consultant
Big 4 Consulting Firm
Santa Clara University
Accounting
Consulting & Related Professional Services, Technology
Consulting
Honors Student
Video Highlights
1. Consultants operate on a project-based system, similar to college assignments but for clients, with specific timelines and deliverables.
2. A significant responsibility involves tailoring technology, like BlackLine, to fit each company's unique needs, data, and business policies, akin to customizing an iPhone but on a much larger and more complex scale.
3. The work aims to improve efficiency and reliability in financial processes, such as account reconciliations, which are crucial for public companies reporting financial results.
Transcript
What are the main responsibilities within your role?
As a consultant, we are essentially brains for hire. All of our work is project-based. This means we sell work as a company and commit to accomplishing a project.
Imagine a project in college where your professor gives you an assignment. In our situation, a client gives us an assignment. We get a timeline, then we go and execute the project per the specifications of the work that we sold.
My responsibilities vary. Currently, I'm working on a technology called BlackLine, which is involved in the financial close space. Public companies need to report on their financial results.
To substantiate their books, they need to perform account reconciliations. You can imagine your bank says you have a million dollars in it. You need to prove via a reconciliation that that is the actual number in your bank account and in your financial systems.
This is an incredibly expensive and time-consuming endeavor for most companies. Any efficiency or reliability gains here are huge. This technology, BlackLine, makes pretty material enhancements in that process.
We go in and tailor the technology to each company. Imagine you get a new iPhone and want to make it perfect for yourself. You go into the settings app and choose each setting to make sure it fits you.
We do something similar with BlackLine, fitting it to each company. We’ll change every setting and make sure it aligns with their data and business policies, but on a much more complicated scale than when you get an iPhone.