Being a Bermudian chartered accountant is as close to a "recession-proof" job as you can get, according to Darren Johnston, the newly appointed territory senior partner of PricewaterhouseCoopers Bermuda.

The 42-year-old Bermudian, who takes over his new responsibilities at the "Big Four" accounting firm on July 1, believes far more Bermudians should be taking advantage of the insatiable demand for local accountants on the Island.

Mr. Johnston, a fomer student of Berkeley Institute and a graduate of Mount Allison University in New Brunswick, Canada, started with PwC as an associate in 1987.

He is a Chartered Accountant, a Certified Public Accountant, and a Chartered Financial Analyst Charterholder.

He became a partner in 1995 and then transferred to the firm's Boston operation in 2001. He returned to the Island two years ago and is about to take up a role in which he will oversee the Bermuda unit and the 230 staff who work there.

Basically his new job entails ensuring that the partnership is focused on its goals, Mr. Johnston said.

He is also keen to encourage more Bermudians to come into the business.

"You probably have about 900 registered accountants working in Bermuda, but only about 250 to 260 of them are Bermudians," Mr. Johnston said in an interview yesterday.

"I don't think that reflects the number of Bermudians who have the capability to do the job.

"Being a Bermudian chartered accountant, working in Bermuda, is virtually a recession-proof job. Now people are appreciating job security as an important element in job choice."

Although the other major accounting firms have announced job cuts in Bermuda during the economic downturn, PwC said yesterday it has made no redundancies in the last few months.

PwC tries to encourage Bermudians into the firm through initiatives such as its Head Start Programme and its summer internship. This year, the firm has doubled its intake of interns to 12.

The firm has 18 Bermudians at associate level, the first rung of the ladder. "In two years, we want that number to double," Mr. Johnston said.

The recent financial crisis shocked many in the business world, with its suddenness and ferocity, and Mr. Johnston said many clients were now adjusting their approaches.

"I think one thing everyone has learned is the definition of risk that people were looking at before the crisis did not meet all the circumstances that could happen," Mr. Johnston said.

"There were many healthy, wonderful companies that people thought could not fail and that had tremendous risk management systems, but clearly they did not appreciate the real risk in those business models."

Understanding the risks, while having a clear philosophy on an organisation's risk appetite, was essential for businesses and their auditors and accountants, he added.

Mr. Johnston said he loved his profession, because it is challenging and complex, involves working with cutting-edge organisations and offers the opportunity to travel and to give back to the community in many ways.

Outgoing territory senior partner Peter Mitchell said: "Darren has been a fundamental part of the success of PricewaterhouseCoopers Bermuda and was a natural choice to take over as TSP.

"Over his career, he has built strong relationships with clients and regulators and is well-respected and liked by both employees and colleagues. He has the experience and abilities necessary to lead PwC Bermuda into the future."