Manager - Property Fund Finance
Manager - Property Fund Finance (Retail and Institutional UK Property Fund Accounting)
M&G Real Estate is the property investment business of M&GPrudential. We are one of the world's largest property investors with £33.13bn* of assets under management across all the major sectors in the UK, Europe, Asia and North America. Drawing on 150 years of investment experience, we actively manage our properties to maximise returns and generate a strong income stream for institutional investors.
Working with M&G Real Estate as a Manager in the Property Fund Finance team means becoming part of the M&GPrudential brand with a global reputation and an exciting vision: to become the best loved and most successful savings & investments business.
If you're inspired to join us, and have the necessary qualities, then this could be the opportunity you've been looking for. 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 involves responsibility for accounting, financial control and oversight services in relation to UK Retail and Institutional funds managed by M&G Real Estate, as well as line management of two Senior Associates and one Associate. Your key responsibilities will be:
You will be responsible for the team providing accounting, financial control and oversight services in relation to the UK Retail and Institutional funds including M&G Property Portfolio (NAV of £3bn), M&G Secured Property Income Fund (NAV of £4.2bn) and M&G Secured Lease Income Fund (NAV £0.6bn). This will include: Team management
• Line management responsibility for two senior associates and one associate, including delegating and review of work, training and coaching
• Responsibility for setting objectives, carrying out appraisals, performance management and supporting the career development of the team Oversight of regular reporting
• Review of daily, weekly, monthly and quarterly pricing returns prepared by the team within agreed deadlines
• Production and despatch of pricing returns to agreed formats within agreed deadlines
• Review production of cash flow forecasts for fund managers, and dealing with related queries from users of the forecast reports Audit and financial statements support
• Production and coordination of provision of audit information for the funds
• Providing audit support and monitoring audit timetables set by external service providers
• Review of financial statements for the funds under the team's responsibility Processes and controls
• Ensuring the completion and review of monthly balance sheet controls and review of quarterly financial data, including challenging numbers and detailed analytical review.
• Review and improvement of existing reporting processes to enhance the robustness of procedures and controls.
• Ensuring team process notes are fully up to date, and that spreadsheets have been designed in compliance with the company policy. Board and investor reporting
• Attendance at quarterly board meetings in Guernsey
• Reviewing, submitting and presenting papers for board and audit committee meetings including financial oversight memo Transactions & corporate finance
• Considering financial reporting and accounting implications of new projects and complex transactions in the light of fund growth and new business activities, including liaising with external advisors and assisting with design of the end-to-end operating model.
• Liaising with Fund and Asset Managers to understand the underlying transactions and ensure appropriate financial operation of the funds/investments
• Ensure the accounting treatment of transactions are compliant with the relevant accounting policies and standards General
• Building strong relationships with internal and external clients
• Manage ad hoc queries for both internal and external parties
• Ensuring adequate cross-training is in place within the team, and across the wider team, to allow cover for periods of absence and flexibility in the management of peak workloads. You will have:
• ACA/ACCA qualified accountant (or equivalent)
• Accounting experience and an exposure to property accounting under UK GAAP and IFRS
• Experience in the use of Yardi Voyager is preferable but not essential
• Excel (to advanced level is desirable)
• Experience of supervising staff (managing, coaching and reviewing work) preferable
• This is a highly visible role so requires someone with an approachable personality, strong focus and first class communication skills.
• Flexible and proactive approach to problem solving and working well with the larger team
• Self-motivated with a diligent and detailed approach to completing tasks
• Strong analytical skills. Confidence in core accounting skills. Able to understand, question and challenge a range of financial data.
• Able to quickly understand and act on questions raised by other parties.
People who work at M&GPrudential agree that ours is a great place to work with a brilliant team spirit. It's also an innovative, high-performing, commercial environment that's totally focused on customers. As an M&GPrudential colleague you'll get all the support you'd expect, including full training and professional development. You'll receive a competitive salary and reward package. And in a fast-changing world, you'll join an organisation that's leading the way in helping customers achieve their long-term financial goals.
M&GPrudential is committed to a diverse and inclusive workplace. Our role as an employer is very simple - to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences.
We welcome applications from individuals who have taken an extended career break, and we are willing to consider flexible working arrangements for all of our roles.