Job Description

The Property Fund Finance team is responsible for the financial operations of over £20bn of property funds managed by M&G Real Estate. This role sits within the Internal Funds team in Property Fund Finance and involves providing accounting, financial reporting and oversight services in relation to £7bn of directly-held UK real estate assets which M&G Real Estate manages on behalf of M&G plc.

Key Work Level Accountabilities:

Experienced Colleague:

• Accountable for providing a quality service or product to customers and stakeholders, using skills/experience built through significant practical experience or training
• For team leaders, accountable for ensuring the team the role supports is delivering a quality service or product
• Works within established frameworks and procedures, with the freedom to interpret them to solve a range of problems
• Delivers outputs that are clearly defined, using discretion over how to achieve them
• Makes suggestions for improvements to the work of the team, based on previous experience and knowledge of similar situations

Key Responsibilities for this role:

UK Life Fund

Reporting

• Preparation of quarterly financial reporting and disclosures under IFRS and FRS102 for submission to the Prudential UK & M&G plc Group finance teams using the HFM system.
• Preparation, coordination and provision of data and financial reporting to Prudential UK and M&G plc Group finance teams to support compliance with Solvency II. This includes reporting asset data to tight quarterly deadlines.
• Preparation of consolidation reporting for submission to M&G plc Group.
• Provision of information and explanations to internal and external auditors.
• Provision of information and explanations to the M&G tax team to assist them in meeting tax compliance and other reporting requirements.

Accounting and Oversight

• Maintenance of books and records for the UK property holdings, using the Yardi Voyager system, in accordance with team procedures and controls.
• Operation and documentation of monthly and quarterly financial controls, including challenging numbers and detailed analytical review.
• Ensuring compliance of the financial reporting processes with the Sarbanes Oxley (SOX) legislation, and evidencing of completion of SOX controls; and with Senior Accounting Officer (SAO) legislation.
• Review and improvement of existing reporting processes to enhance the robustness of procedures and controls, especially in relation to SOX and SAO requirements.
• Ensuring team process notes are fully up to date and that spreadsheets have been designed in compliance with the User Developed Applications policy.
• Review of statutory accounts prepared by external parties (for example, for service charge management companies and merchants’ associations).
• Liaison with outsourced property managers to ensure accuracy of property level data for use in accounting returns.
• Liaison with other parties involved in the end-to-end operating model (external accountants and property managers, M&G Real Estate) to ensure business processes are designed, implemented and operated to support the requirements of the financial reporting processes.
• Liaison with M&G plc Group and Prudential UK finance teams.

Other

• Participate in cross-training to allow cover for periods of absence and flexibility in the management of peak workloads.
• Assistance with ad-hoc projects covering various elements of the work of the Property Fund Finance team.
• To 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.

We live by four behaviours at M&G and we ask all our employees to:

• Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed
• Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
• Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
• Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things

Required Knowledge, Skills, and Abilities

ACA/ACCA qualified accountant (or equivalent) Strong technical knowledge of UKGAAP and IFRS Good experience of financial statutory accounting Property financial accounting experience Self-motivated with a diligent and detailed approach to completing tasks Strong analytical skills. Able to understand, question and challenge a range of financial data Confidence to communicate effectively with a range of internal and external parties Flexible and proactive approach Excel (to advanced level is desirable) This will be a highly visible role so requires someone with an approachable personality, strong focus and first class communication skills