• Competitive
  • London, England, United Kingdom
  • Permanent, Full time
  • M&G Group
  • 2019-03-18

Senior Associate - Property Fund Finance (FC&O)

  • Full time
  • London, England, United Kingdom
  • 18 Mar 19

Senior Associate - Property Fund Finance (FC&O)

Working with M&G Prudential as a Senior Associate (Financial Controller & oversight) means becoming part of a brand with a global reputation and an exciting vision: to become the best loved and most successful savings & investments business.

The forthcoming planned de-merger of M&G Prudential from the Prudential Group PLC provides a terrific opportunity to create a truly international and integrated savings and investments firm. A firm built on a rich and long history and with a commitment to an innovative future centred on the needs of customers and clients. There is a genuine opportunity to drive competitive advantage with value creation through the formation of this new organisation.

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:

An opportunity has arisen for a Senior Associate (Financial Controller & oversight) to join the Property Fund Finance team at M&G Real Estate.

The Team:

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 providing financial control and oversight services to two Luxembourg-domiciled real estate funds.

Your Key responsibilities will be -

Reporting into the Manager: Financial Oversight and Control, the applicant will be responsible for providing financial control and oversight services to the following Luxembourg-domiciled institutional real estate fund:

M&G European Property Fund (NAV €2,421m; committed capital €248m)

This will include:-

Oversight and Control:

1. First review of monthly reporting packs, estimated and final NAV, subscription and redemption prices, distributions and associated documents including INREV fee metrics calculations received from the administrator.
2. Preparation and/or oversight of additional submissions from the administrator, including:
a. AIFMD reporting
b. INREV SDDS reporting
c. Annual subsidiary budgets
d. Consolidated fund budget
3. Review of corporation tax and VAT calculations: sense-check and vouch to accounting data
4. Preparation of fund cash flow forecasts and monitor cash transfers
a. Attendance at weekly fund meetings and presentation of the latest cashflow forecast
b. Preparation of intercompany loan / profit participating loan control schedules and co-ordinating interest payments
5. Oversight of fiscal and loan compliance across the Fund
6. Assisting in preparation of accounting memos for complex transactions, including Asset and Share Deals
7. Ensuring team process notes are up to date and that spreadsheets have been designed in compliance with the internal UDA policy

Internal and External Stakeholder Reporting:

8. Preparation of performance files
9. Preparation of analytical review to submit to the Board on a quarterly basis
10. Preparation of inputs to investor reports
11. Assistance with responding to investor queries
12. Assist in preparation of information required by the tax team to ensure fund tax compliance
13. Provision of information to support consolidation reporting to Prudential Group

Relationship management with external service providers

14. Liaison with external accounting suppliers to ensure instructions are appropriate, clear and followed.
15. Attendance at relationship meetings with service providers
16. Coordinating deliverables from the service providers and working to streamline the working relationship and identify efficiencies and process improvements.

Annual financial statement preparation and audit:

17. First analytical review of fund annual financial statements prepared under IFRS
18. First review of subsidiary financial statements prepared under local GAAPs
19. Provision of audit information on a quarterly and annual basis; liaison with auditors to resolve queries

M&G European Secured Property Income Fund (NAV €329m; committed capital €162m)

20. Supporting the provision of financial control and oversight services for this fund
21. Participate in cross-training to allow cover for periods of absence and flexibility in the management of peak workloads.
22. Provision of cover to Manager and other team members
23. Assistance with ad-hoc projects covering various elements of the work of the Property Fund Finance team

People who work at M&G Prudential 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&G Prudential 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&G Prudential 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.