Manager - Property Fund Finance (Retail and Institutional UK Property Fund Accounting) Manager - Property Fund Finance (Retail and  …

M&G plc.
in London, United Kingdom
Permanent, Full time
Last application, 18 Jan 21
M&G plc.
in London, United Kingdom
Permanent, Full time
Last application, 18 Jan 21
Manager - Property Fund Finance (Retail and Institutional UK Property Fund Accounting)
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/nationality, 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.
By taking on the role of Manager you'll play a vital part in our vision: to become the best loved and most successful savings & investment business. We need everyone to step up to their full potential at this exciting time for our business. So if you're inspired by the opportunity, and if you have the necessary qualities, then we urge you to apply.

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 £2.5bn), M&G Secured Property Income Fund (NAV of £4.5bn) and M&G Secured Lease Income Fund (NAV £0.8bn).

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

  • 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.

Job Location: Fenchurch Avenue - London
Recruiter: Emma Flaherty
Salary: Competitive

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
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