Vice President - Revenue & Expenses 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 the accurate financial reporting of the balance sheet/ income statement (both on a Group and local statutory basis) for all insurance regulated entities to ensure compliance with accounting standards (UK GAAP, IFRS) and local regulatory requirements (Solvency II)
• Responsible for the Financial Reporting processes, ensuring the completeness and accuracy of the ledgers inline with the working day timetables
• Review the reconciliations of assets and liabilities/ movements of revenue and expenses to ensure that all movements are explained, understood and discrepancies are resolved
• Production and review of the UK GAAP statutory accounts ensuring the accuracy, completeness and compliance with reporting requirements for the Balance Sheets / Income statements
• Production and review of all related workings for Tagetik submissions to support Group Reporting on an IFRS basis
• Production and review of all Solvency II related workings and reconciliations for submission into Tagetik ensuring compliance with regulatory reporting requirements
• Produce and review detailed analysis of charges and expenses for the Unit -Linked business at product level
• Identify and manage financial risks associated with reporting and drive enhancements to controls to support improvement of the overall control framework
• Implementing and managing internal controls to safeguard the integrity of financial reporting
• 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
• Be accountable for managing and motivating others to ensure quality of delivery to customers and stakeholders
• Manage, coordinate, and support external audit process for areas of responsibility
• Produce inputs into the Statutory board reports and attend where required
• Keep up to date with the latest accounting and regulatory developments and applicability with production reporting

Key Stakeholder Management

Internal

• Reporting Analysis team
• IFRS 17 Production team
• Internal data suppliers; Finance Operation, Core actuarial team, etc.
• Change /Development team
• Group Reporting team
• Internal audit team
• Finance technology team

External

• External auditors
• External data suppliers e.g. third party system administration

Knowledge, Skills, Experience & Educational Qualification

Knowledge & Skills:

• Working knowledge of IFRS, Solvency II and UK GAAP (or the equivalent) reporting
• Knowledge of regulatory Solvency II is advantageous
• 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
• Ability to maintain accuracy and integrity in financial reporting, ensuring that all financial statements reflect the true financial position
• Ability to contribute to strategic planning and decision making
• Openness to innovation and encourage creativity in the team

Experience:

• Experience of leading the production and delivery of financial reporting of a life insurer
• Familiarity with local regulations, particularly Solvency II, is beneficial, though not required
• Experience in accounting for With Profits products and its complexities (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.