Head of Accounting Production

Recruiter
Prudential plc
Location
Reading
Posted
15 Mar 2019
Closes
24 Mar 2019
Sector
Accountancy
Contract Type
Permanent
Hours
Full Time
Working with M&G Prudential as a Head of Accounting Production means becoming part of a brand with 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 Finance Reporting team within Finance is accountable for delivering on time and accurate statutory and regulatory financial results and disclosures across all reporting metrics, which provide real business insights, quality assurance and technical advice. The team is also responsible for ensuring that our reporting evolves in line with regulatory and industry requirements. The Head of Accounting Production will be the custodian of the General Ledger and processes supporting the update and close of the General Ledger. This team will perform all accounting processes for insurance and non-insurance entities as well as maintenance of the accounting systems and supporting tools. Key Responsibilities of this role: I n addition to the business as usual responsibilities listed below, this role is responsible for the management of a large accounting team based in Reading. This includes the day-to-day management as well as responsibilities for performance management and development. This role will also play a key role in delivering the accounting aspects of the finance transformation journey including the migration of policy admin systems to TCS, changes to investment accounting, IFRS17 and demerger. Oversight and review of transaction processing received from services teams - bank and policy administration reconciliations, including the review of any manual journals processed to the GL. Ensure robust accounting rules in place and communicated to service teams. Fixed Asset Accounting - Process and update the Fixed Asset data, adhering to company policies. Investment Assets Accounting - Load invested asset data received from 3 rd parties (incl. M&G into the ledger). Managing the General Ledger - Ownership of the ledger chart of accounts, ensuring consistency across entities and teams where possible through liaising with systems support teams. Work alongside the Shareholder and Policyholder Valuation actuaries to produce the results of various product lines. Perform the General Ledger close. Reconcile and settle the intercompany and interfund relationships each month. Own and maintain the ledger to consolidation tool mapping. Production and sign-off of the quarterly Group reporting packs to required standards (including disclosure data and other required information). Provide commentary on non-linked assets and movement to support the P&L process in the actuarial valuation and financial reporting teams. Provide commentary on the overall IFRS Balance Sheet and Income Statement (e.g. other non-financial assets movements, other non-policyholder liabilities movements, expenses etc.) Responsible for the application of the Control Framework for the team. 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 Prudential UK's operational risk. Responsible for managing the costs and forecast run rate of this team in light of the cost challenges of the business. To be successful in this role you will: Be a qualified accountant Have detailed understanding of the regulatory environment and the associated reporting. Have detailed level knowledge of financial services regulatory and legislative frameworks. Have detailed level knowledge of life and pensions products, markets and competitors. Have detailed knowledge, expertise and experience in reporting - UK GAAP and IFRS. Have significant experience of leading accounting production teams. Have significant experience of making decisions based on the financial information provided and seeking additional information where required. Have significant experience of using knowledge of the external environment to shape thinking internally. Have significant experience of reviewing and editing financial reports to ensure compliance with auditing and accounting standards. Be a visible leader with a strong focus on execution and role models behaviours. Have the ability to lead through change. Have significant experience of leading teams to deliver under pressure and/or tight timescales. Have significant experience of communicating vision to gain support, motivate others, and build a sense of shared purpose. Drive continuous improvement by encouraging the teams to seek out issues, innovate solutions and act on opportunities. Have significant experience of coaching and guiding others in using advanced actuarial principles and methodologies to solve complex or unique problems and in ambiguous or unique situations. Recognise successes. 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. Recruiter: Hannah Macmillan Location: Reading Closing Date: 24 March 2019

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