Vice President - Income Statement Consolidation QRTs Accounting Lead

We are M&G Global Services Private Limited (formerly known as 10FA India Private Limited, and prior to that Prudential Global Services Private Limited). We are a fully owned subsidiary of the M&G plc group of companies, operating as a Global Capability Centre providing a range of value adding services to the Group since 2003. At M&G our purpose is to give everyone real confidence to put their money to work. As an international savings and investments business with roots stretching back more than 170 years, we offer a range of financial products and services through Asset Management, Life and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients, and superior shareholder returns.

M&G Global Services has rapidly transformed itself into a powerhouse of capability that is playing an important role in M&G plc’s ambition to be the best loved and most successful savings and investments company in the world.

Our diversified service offerings extending from Digital Services (Digital Engineering, AI, Advanced Analytics, RPA, and BI & Insights), Business Transformation, Management Consulting & Strategy, Finance, Actuarial, Quants, Research, Information Technology, Customer Service, Risk & Compliance and Audit provide our people with exciting career growth opportunities. Through our behaviours of telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

Accountabilities/Responsibilities

• Responsible for overall Tagetik Income Statement submissions on a UK GAAP and IFRS basis ensuring the accurate completion of the quantitative reporting templates necessary for Solvency II reporting for all Insurance entities in line with the working day timetable
• Produce and review flash results of income statement submissions, high level analysis and commentary on movements, including the review of the analysis of profit
• Review related workings to support the inputs into and submission of the Group and Solvency II results.
• Perform detailed review of annual and quarterly Quantitative Reporting Templates (QRT’s) for local regulatory Solvency II Reporting which includes Premiums, Claims and Expenses
• Responsible for the production of actual IFRS 17 cashflows, related checks and reconciliations and overlay adjustments to the engine input file, including the review of cashflow store/engine input overlay adjustments and the posting of the IFRS 17 results to the Ledger
• Produce accounting inputs into the commentary on IFRS 17 results and for the IFRS 17 deferred tax computations
• Together with the Revenue & Expense Accounting lead provide signoff of the Income statement and Solvency II position before handover to Reporting Analysis team
• Ensure compliance with current accounting standards and Insurance procedures to maintain a robust financial control regime
• Identify and manage financial risks associated with reporting and drive enhancements to controls to support improvement of the overall control framework
• Evaluate and enhance processes and procedures to accommodate business changes and support continuous improvement through regular and customised analysis
• Strategically plan and allocate tasks to meet deadlines
• Maintain effective working relationship with the Reporting Production Lead and other areas across M&G
• Keep up to date with the latest accounting and regulatory developments
• Be accountable for managing and motivating others to ensure quality of delivery to customers and stakeholders
• Produce inputs into the Statutory board reports and attend where required
• Manage, coordinate, and support external audit process for areas of responsibility

Key Stakeholder Management

Internal

• Revenue & Expense Accounting team
• Reporting Analysis team
• IFRS 17 Actuarial Production team
• Change/Development team
• Internal audit team
• Finance Technology team

External

• External auditors

Knowledge, Skills, Experience & Educational Qualification

Knowledge & Skills:

• Working knowledge of IFRS17 and UK GAAP (or the equivalent) reporting.
• Familiarity with Solvency II and other regulatory reporting requirements relevant to the insurance industry in the United Kingdom.
• Leadership and people management capabilities to guide the team effectively during the demanding reporting periods and ensure adherence to the stringent deadlines.
• Ability to guide the team through transitions and maintain productivity.
• Adept at building relationships at all levels and has confidence communicating with a variety of stakeholders.
• Attention to detail to identify trends and discrepancies.
• Strong problem -solving abilities to address and resolve issues that may arise during the consolidation and reporting process.
• Ability to contribute to strategic planning and decision making.
• Openness to innovation and encourage creativity in the team.
• Excellent verbal and written communication skills

Experience:

• Knowledge and experience of the production and delivery of financial reporting for a Life Insurer
• Life insurance experience preferable including deep understanding of products and policies.
• Familiarity of the regulatory environment of the UK Insurance industry
• Experience with financial consolidation and reporting tools. Tagetik and Power Bi experience is (advantageous)

Educational Qualification:

• Chartered accountant qualification (CA) or the equivalent.

M&G Behaviours relevant to all roles:

Tell it like it is: Respectfully speaking up to create better ways forward - both direct and empathetic

Own it now: Putting your name on things with confidence to drive progress and results quickly

Move it Forward Together: Forming cross-functional teams to seize the right opportunities and solve real problems.

We have a diverse workforce and an inclusive culture at M&G Global Services, regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.