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

Senior Associate - Property Fund Finance (Internal Funds)

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

Senior Associate - Property Fund Finance (Internal Funds)

Senior Associate - Internal Property Funds

International Investments and UK Joint Ventures

M&G Real Estate is the property investment arm of M&G. 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 an Associate 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 property funds managed by M&G Real Estate.

This role sits within the Internal Funds team in Property Fund Services and involves providing accounting, financial reporting and oversight services in relation to Prudential's international property investments and UK property joint ventures.

Your key responsibilities will be:

UK Property Joint Ventures

The Internal Funds team is responsible for 6 UK property joint venture investments with total funds under management (at 31 December 2018) of £0.8bn.

Reporting

• Review of quarterly financial reporting packs prepared by Associate
• Preparation/review of Solvency II regulatory reporting for submission to Prudential Group

Accounting and Oversight

• Review of quarterly review controls over management accounts prepared by joint venture partners
• Review of monthly review controls over financial data in the Yardi Voyager accounting system
• Review of statutory accounts prepared by joint venture partners
• Maintenance of process notes setting out responsibilities and processes relating to financial reporting

International Property Investments

The Internal Funds team is responsible for international property and indirect investments held in North America, Canada, Europe, Asia and Australia, with total funds under management (at 31 December 2018) of £4.2bn.

Reporting

• Preparation/review of quarterly financial reporting and disclosures under IFRS and FRS102 for submission to the Prudential Group Finance team using the HFM system.
• Preparation and provision of data and financial reporting to Prudential UK and Group finance teams to support compliance with Solvency II. This includes reporting asset data to tight quarterly deadlines.
• Preparation/review of consolidation reporting for submission to Prudential Group.
• Preparation/review of quarterly investor returns (trial balances) for submission to Prudential Group, and assistance with responding to investor queries.
• Review of monthly investor returns (trial balances) prepared by Associate.
• Preparation of statutory accounts, under local GAAP, for companies involved in the holding and management of property assets. Involvement in liquidation of subsidiaries as required.
• Where applicable, preparation of finance report and appendices for board meetings.
• Provision of information and explanations to internal and external auditors.
• Provision of information and explanations to the Prudential Group Tax team to assist them in meeting tax compliance and other reporting requirements.

Accounting and Oversight

• Maintenance of books and records, 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.
• 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 User Developed Applications policy.
• Review of work on international investments performed by Financial Accountant, including provision of coaching and guidance.
• Review of statutory accounts prepared by external parties.
• 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 Prudential Group/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.

You will have:

We are looking for you to be an ACA/ACCA qualified accountant (or equivalent) with strong technical knowledge of UKGAAP and IFRS. You will need good experience of financial statutory accounting and property financial accounting.

You will be self-motivated with a diligent and detailed approach to completing tasks. It is essential for you to have strong analytical skills and able to understand, question and challenge a range of financial data. Advance excel skills are desirable for this position.

You must have the confidence to communicate effectively with a range of internal and external parties
This will be a highly visible role so requires someone with an approachable personality, strong focus and first class communication skills along with a flexible and proactive approach.

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.