Senior Associate – Property Fund Finance, Internal Funds – UK Direct Job at M&G plc in London

At M&G our vision is: to become the best loved and most successful savings and investment business and we’re looking for people who are excited about joining us on our journey. We’re digitally transforming and investing heavily in technology and innovation to develop new and improved customer propositions that really raise the bar for our customers. To help us achieve our vision we’re looking for exceptional people who live our values and behaviours and who can inspire others; embrace change; deliver results and keep it simple.

We know that an inclusive environment makes us more accessible and ensures we attract, engage, promote and retain exceptional people. We welcome applications from all individuals regardless of age, gender/gender identity, sexual orientation, ethnicity/nationally, disability, or military service and welcome those who have taken career breaks. We will consider flexible working arrangements or home working arrangements for any of our roles.

What you can expect from us:
We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:

Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work

Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed

Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognise the important contribution you make

Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best

How do we support our employees:
All M&G plc employees will be supported in the workplace through our LifeWorks employee assistance programme which is run by Canada Life. If you need counselling, confidential financial or legal advice. T he service is available 24 hours a day, 365 days a year and offers access to qualified professionals who can provide specialist information, advice and support on many issues. It offers a broad range of services, including help with family issues, maintaining work/life balance and mental health support.

The Role:
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


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.


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.

Key Knowledge, Skills & Experience:
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

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

About the Company

Company: M&G plc

Company Location:  London

Estimated Salary:

About M&G plc