In our latest edition of Alumni Spotlight, the Circle team caught up with Richard Tan, who retired as an Advisory Partner in 2015. Richard talks about his KPMG experience, and shares about life post-KPMG – which includes being part of multiple boards and committees, and even a stint in teaching.
From right: Richard Tan with Peter Lim, KPMG’s Head of Alumni Relations during a recent visit to the KPMG Clubhouse.
Hello Richard! Tell us about yourself.
I first joined KPMG as an auditor back in 1978, when the firm was previously known as Peat Marwick Mitchell & Co, before taking up internal audit roles across the banking industry. As fate would have it, my career path brought me back to KPMG twice – as an associate director in 1997 for three years, and finally as a risk consulting Partner in 2008, where I spent seven years until I retired from the firm.
After retiring as a Partner, I spent over eight years as an adjunct associate professor at the NUS Business School, and have also taken up both independent non-executive director and member roles at numerous boards and committees, sharing my insights and experience honed from decades as a banking and audit professional.
These days I spend my time at board meetings and catching up with people, be it former colleagues or clients. These friendships and connections are very important to me – in fact, some of these clients now sit with me on boards!
What kept you coming back to KPMG over the years?
Before the opportunity to come back as a Partner came up, I had spent seven years in a local bank driving transformation. That experience and added knowledge gave me the confidence that I would be able to do well in consulting, working with clients, and hence I decided to return to KPMG.
What kept me here, however, were the strong family culture in KPMG, as well as the vast learning opportunities – not just training in a classroom setting, but through the relationships that I developed with my clients over the years. These connections opened doors for me – because I worked in KPMG, the projects that I worked on and the clients I worked with spanned different industries, widening my professional circle beyond banking. That would explain the diversity of companies whose boards I sit on, be it in the creative and design space, or even public service agencies.
What are your thoughts on the firm’s evolution over the years?
When I first started out as an auditor in Peat Marwick Mitchell & Co back in Hong Leong Building, it was at the time part of the “Big Eight”! We had about just 300 to 400 staff then, and it was a largely audit firm, with a small consulting arm. Since then, the firm has certainly grown a lot in terms of staff strength, as well as the suite of services provided. My only regret is that I never had a chance to work in this new office – though it definitely helps to be able to catch up with friends in this space. I still feel strongly connected to KPMG even though I retired almost 10 years ago, through the alumni events and regular updates on firm developments.
Richard (centre) at KPMG in Singapore’s Dinner and Dance event in October 2024.
Tell us about your time teaching in NUS. What is it about teaching that makes you enjoy it so much?
I taught corporate governance and risk management to accounting undergraduates in NUS after retiring from KPMG in 2015. This opportunity came through a long-time friend of mine, who happened to be the professor heading up the accountancy department at NUS, and asked over lunch if I would be willing to teach risk management. As I had given guest lectures previously in SMU and enjoyed teaching, I agreed to the role – though being an adjunct associate professor turned out to be a very different experience from giving guest lectures. You’re in charge of the entire module by yourself, from planning the lesson content to setting exam questions and marking them.
It was a challenge I relished, as I was able to translate my professional experience into teaching content – to give students more practical perspective, rather than just focusing on theory. For example, how does one conduct a risk assessment? By referring to my own real-life experience and bringing up case studies, my students would be more than book smart – better equipped, and better able to appreciate what it is like to work in the industry.
It also helped that I’m a curious person at heart – I love reading and learning, so teaching was quite natural for me as I enjoyed sharing my own experiences, be it from KPMG or my time in the banking industry. Of course, I also spoke with my students about my time in KPMG – in fact, at the KPMG Dinner and Dance in 2024, I met about 10 of my former students who are now employed with the firm!
Why should young professionals join the audit profession?
It offers a unique opportunity to gain a broad range of experience across multiple industries. Unlike some career paths where you might specialise in a certain type of work, the audit profession exposes you to various aspects of financial reporting, compliance, risk management and so on, in different industries.
My advice to young professionals would be the make the most of the opportunities that come your way – not just in terms of learning hard skills, but also proactively building connections with your colleagues and clients alike through good interpersonal communication skills. As I always told my students, your result slip from school is only the beginning of a long journey.
If you’re thinking of recapturing that sense of belonging, have a look at career opportunities here. There’s always an opportunity to make your mark, thrive with us, and learn for a lifetime.
Richard catching up with friends and former colleagues from KPMG.
On a personal note, what does “Be in Front” mean to you?
It’s not about who you know, but who knows you – and that has to show through meetings and every step of a client relationship. If it’s a client we want to win, perhaps it is about customising our approach and proposal, taking the extra steps to ensure that they know about our capabilities, and that we truly walk the talk. To me, that is what being in front is about.
