Senior Associate

M&G plc | Posted 5-11-2020

London (Real Estate)

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.

The Role:

The Property Fund Finance team is responsible for the financial operations of over £30bn of property funds managed by M&G Real Estate. This role involves providing financial control and oversight services to a growing range of funds and mandates investing in UK real estate.

Reporting into the Manager: PFF (Capital Solutions and UKEV), the applicant will be responsible for providing financial control and oversight services to the following:

  • M&G UK Enhanced Value Fund (closed ended fund investing in UK properties requiring quarterly reporting)
  • Embankment Unit Trust (joint venture investing in a £100m building requiring quarterly reporting)
  • Selly Oak Shopping Park LP (joint venture investing in a £95m retail park, requiring monthly and quarterly reporting)
  • £400m segregated mandate to invest in UK property, with monthly and quarterly reporting

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:

  • Review of monthly/quarterly reporting packs, NAV calculations, subscription and redemption prices, distributions and associated documents and underlying input data.
  • Review and preparation of performance files calculating the monthly/quarterly returns
  • Preparation of supporting documentation and/or review of information prepared by the administrator for additional reporting, including: AIFMD reporting, INREV SDDS reporting and INREV fee metrics.
  • Review of the annual financial statements prepared under IFRS
  • Review and production of audit information for the funds. Managing the audit process with assistance of the Manager
  • Managing the production of the annual report Coordinating the audit process be
  • Review and preparation of inputs to investor reports and board reporting
  • Assistance with responding to investor queries (internal/external)
  • Review of cash flow forecasts and monitoring cash requirements
  • Organise and instruct cash transfers, e.g. distributions, development funding, invoice settlement
  • Liaison with external accounting suppliers to ensure instructions are appropriate, clear and followed
  • Transaction reviews from an accounting perspective and preparation of transaction accounting memos for Manager’s review.
  • Preparing budgets and financial projections
  • Oversight of fiscal and loan compliance across the funds utilising external debt
  • Attendance at relationship meetings with service providers
  • Preparation of information required by tax team to ensure the tax compliance of the funds
  • Preparation of quarterly consolidation reporting to Prudential Group
  • Attendance at monthly meetings for each of the Funds.
  • Communication and relationship management with a wide range of stakeholders
  • Provision of cover for the Manager and Associate
  • Assistance with ad-hoc projects covering various elements of the work of the Property Fund Finance team
  • Operation and documentation of daily, monthly and quarterly balance sheet and profit and loss 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 UDA policy.
  • Participate in cross-training to allow cover for periods of absence and flexibility in the management of peak workloads.
  • 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/ACMA qualified accountant (or equivalent)
  • Property financial accounting experience
  • Good experience of financial statutory accounting
  • Able to quickly understand and act on questions raised by other parties.
  • 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
  • Strong organisational and prioritisation skills
  • Flexible and proactive approach to problem solving and working well with the larger team
  • Excel (to advanced level is desirable)
  • Knowledge of Yardi Voyager system is beneficial but not essential
  • 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