Assistant vice president - Revenue & Expense Accountant

M&G

  • Mumbai, Maharashtra
  • Permanent
  • Full-time
  • 2 months ago
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) to ensure compliance with accounting standards (UK GAAP, IFRS) and local regulatory requirements (Solvency II) and maintain the balance sheet/ income statement accounts in the statutory ledgers for the assigned M&G Insurance entities
  • Perform the quarterly GL close and reconciliations for complex areas of the Balance Sheet/ Income Statement ensuring the accuracy and completeness thereof
  • Support the team to complete the quarterly GL close and reconciliations for assets and liabilities/ movements of revenue and expenses
  • Prepare and support all workings for input into Tagetik for disclosures purposes ensuring compliance with reporting requirements
  • Conduct and supervise the detailed analysis of charges and expenses for the Unit -Linked business at product level. Provide insights based on analysis.
  • Prepare and support all Solvency II workings for input into Tagetik and ensuring compliance with Solvency II reporting requirements (i.e. quarterly and annual quantitative reporting templates (QRTs) for Solvency II Balance sheet, Assets and Own Funds and Premiums, claims and expenses)
  • Support the resolution of validation errors into the consolidation tool
  • Support the facilitation of the late adjustment process and work with Finance Operations to meet tight deadlines
  • Ensure compliance with current accounting standards and Insurance procedures to maintain a robust financial control regime
  • Act as a key point of contact between the finance team and the lead. Supporting the Senior manager and other team members in their duties, providing guidance and assistance as needed.
  • Support the implementation of new accounting standards and delivery of other finance change projects including ad hoc projects to support continuous improvements and process enhancements
  • Internal and external audit support for areas of responsibility
  • Collaborate effectively with colleagues & maintain effective working relationships with other teams across M&G Finance, ensuring that insurance reporting needs are communicated, understood and met
Key Stakeholder ManagementInternal
  • Reporting Analysis team
  • IFRS 17 Production team
  • Internal data suppliers; Finance Operation, Core actuarial team, etc.
  • Change 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 QualificationKnowledge & Skills:
  • Knowledge of UK GAAP and IFRS (or the equivalent) principles.
  • Knowledge of regulatory Solvency II is advantageous.
  • High analytical skills and attention to detail to identify trends and discrepancies and provide insights.
  • Proficient in Excel and handling large volumes of data.
  • Support others to execute their responsibilities.
  • Ability to work to deadlines and prioritise workload.
  • Practical experience using a general ledger and consolidation solution tool.
  • Ability to collaborate and work effectively as a team and independently.
  • Ability to investigate and resolve complex financial reporting issues and discrepancies effectively.
Experience:
  • Knowledge and experience of the production and delivery of financial reporting for an Insurer / Insurance Accounting experience.
  • Prior experience in Life Insurance is required.
  • Experience in accounting for With Profits products and its complexities (advantageous)
  • IFRS 17 experience is beneficial.
  • Familiarity with local regulations, particularly Solvency II, is beneficial, though not required.
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 empatheticOwn it now: Putting your name on things with confidence to drive progress and results quicklyMove 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.

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