Job Description

The PAC Finance Reporting team within Finance is accountable for delivering on time and accurate financial results (statutory and regulatory) and disclosures across all reporting metrics for PAC and other insurance subsidiaries, which provide real business insights, quality assurance and technical advice. The team is also responsible for ensuring that our reporting evolves in line with regulatory and industry requirements.

The Head of Accounting is the custodian of the General Ledger. This team will perform all reporting accounting processes for the insurance subsidiaries as well as maintenance of the relevant accounting systems and supporting tools.

The Head of Accounting is responsible for leading the consolidation of the IFRS balance sheet and reporting and the Solvency II balance sheet for the insurance subsidiaries, the completion of the PAC and PPL report and accounts, and the production of the associated Solvency II reporting. This role will be responsible for ensuring all results and reporting is accurate, well controlled and compliant with the relevant regulations, standards and policies.

This is a 12 month Fixed Term Contract opportunity.

Key Work Level Accountabilities:

Integration Leader:

• Critical role in translating strategy into implementation plans, influences and contributes to the strategy
• Ensures successful implementation of defined strategy
• Typically leaders of teams, or technical roles will lead the provision of advice across an area of expertise
• Balances competing requirements to deliver a balanced set of results, resolving significant or priority conflicts
• Addresses problems with broad reaching ramifications, with a need to manage different parts of complex systems and link to the broader picture
• Responsible for driving continuous improvement
• Drives incremental and transformational change in response to experience of market and customer needs, typically leads the delivery of major programmes of work
• Allocates resources optimally to deliver on strategy, prioritizing conflicting resource demands, agendas and activities

Key Responsibilities for this role:

• Work collaboratively with colleagues and take personal accountability to maintain and enhance controls you are responsible for to support improvement of the overall control environment, customers outcomes and a reduction in M&G's operational risk
• Owner of the General Ledger, including implementation and management of a service arrangement with Finance Operations who will operate the GL on a day-to-day basis
• Production and sign-off of the quarterly HFM reporting packs to required standards (including TB, disclosure data and other required information)
• Provide commentary on non-linked assets and movement to support the P&L process in the actuarial valuation and financial reporting teams
• Provide commentary on the overall IFRS Balance Sheet and Income Statement (e.g. other non-financial assets movements, other non-policyholder liabilities movements, expenses etc.)
• Consolidate IFRS, Solvency II (and other metrics as applicable) balance sheets and IFRS results for PAC and its subsidiaries
• Produce PAC and PPL Report and Accounts. Coordinate accounting aspects of QRT and other regulatory reporting for PAC and PPL
• Drive continuous improvement by encouraging others to innovate, seeking out and acting on the opportunities
• Lead and support the company's transformation ambitions with respect to PAC accounting
• Responsible for managing the costs and forecast run rate of this team in light of the cost challenges of the business.

Required Knowledge, Skills, and Abilities

A Qualified Accountant with significant experience of leading accounting production and reporting teams. Detailed understanding of the regulatory environment and the associated reporting. Detailed level knowledge of life and pensions products, markets and competitors. Detailed knowledge, expertise and experience in reporting – UK GAAP, IFRS and Solvency II. Ability to lead through change. Significant experience of making decisions based on the financial information provided and seeking additional information where required. Significant experience of using knowledge of the external environment to shape thinking internally. Significant experience of reviewing and editing financial reports to ensure compliance with auditing and accounting standards. A visible leader with a strong focus on execution and role models behaviors.