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About the Role

The Property Fund Finance team is responsible for the financial operations of over £30 billion of property funds managed by M&G Real Estate. This role provides financial control and oversight services to the M&G UK Residential Property Fund, including managing the liquidation of the M&G UK Property Fund and supporting new fund launches. The role also involves line management of a Senior Associate.

Responsibilities

Provide second review of monthly/quarterly reporting packs received from ELP accountants and provide feedback.
Review accounting trackers prepared by the Senior Associate for Development Assets.
Provide second review of monthly/quarterly NAV packs from the administrator, including investment value, subscription and redemption prices, distribution calculation, and accruals.
Review and sign off NAV checklist and control workbook.
Review and sign off performance data and QIR data, and present results at monthly liquidity meetings.
Provide second review of INREV fee metrics prepared by the administrator.
Review additional supporting documentation and information prepared by the TPA, including AIFMD and INREV SDDS reporting.
Monitor fund cash requirements and review the monthly cashflow forecast.
Monitor forward funding development cashflows and liaise with the fund team for accurate and timely drawdowns.
Conduct bi-weekly meetings with the fund management team to stay updated on activity and provide accounting advice.
Support redemption and liquidity management.
Prepare accounting memos for complex transactions and coordinate sign-off with auditors.
Coordinate and review financial due diligence for asset acquisitions and disposals.
Review the drafting of legal agreements for complex transactions to ensure commercial terms support desired accounting treatment.
Review ELP financial statements prepared by the Senior Associate under IFRS.
Review FCP financial statements prepared by the administrator under IFRS and collaborate with internal teams for timely annual report delivery.
Manage the production of IFRS financial statements for the FCP.
Work with the Senior Associate to produce audit information and liaise with auditors to resolve queries.
Manage supplier relationships for accounting service providers, ensuring adequate instruction, query response, output monitoring, and service level adherence.
Conduct quarterly meetings with the Residential Fund ELP accountants.
Liaise with external accounting suppliers to ensure clear instructions and attendance at relationship meetings.
Review and present papers for Board and Audit Committee meetings.
Attend Board meetings of the fund and subsidiaries quarterly.
Review quarterly investor reports and inputs prepared by the Senior Associate.
Review financial oversight memos prepared by the Senior Associate and present them at Board meetings.
Review half-yearly consolidation reporting to Prudential Group prepared by TPA.
Collaborate with the Client Reporting team to respond to ad hoc investor queries.
Work with the Senior Associate to prepare information for the tax team to ensure fund tax compliance.
Review financial due diligence and legal agreements for asset acquisitions and disposals.
Support the on-boarding of new acquisitions, including agreement of service provider scope and accounting treatment.
Support the arrangement of internal financing, including review of funding diagrams and management of funding lines.
Ensure adequate preparation and review procedures exist and are documented.
Attend Property Fund Finance Steering Committee meetings.
Provide cover for the Senior Associate, Associate Director, and other team members.
Ensure accounting procedures are fully documented and kept up to date.
Attend weekly/quarterly fund meetings.
Review rent arrears with asset managers.
Review and input into the quarterly investor report process.
Assist with ad-hoc projects related to the Property Fund's work.

Requirements

Second review of monthly/quarterly reporting packs received from ELP accountants.
Review of accounting trackers prepared by the Senior Associate.
Second review of monthly/quarterly NAV packs received from the administrator.
Review and sign off NAV checklist and control workbook.
Review and sign off of performance data and QIR data.
Second review of the INREV fee metrics.
Review of additional supporting documentation and information prepared by the TPA.
Monitoring fund cash requirements and reviewing the monthly cashflow forecast.
Monitor forward funding development cashflows and liaise with the fund team.
Running bi-weekly meetings with the fund management team.
Support redemption and liquidity management.
Preparing accounting memos for complex transactions.
Coordination and review of financial due diligence.
Review of drafting of legal agreements.
Review ELP financial statements prepared by the Senior Associate under IFRS.
Review the FCP financial statements prepared by the administrator under IFRS.
Manage the production of the IFRS financial statements for the FCP.
Work with the Senior Associate to produce audit information.
Responsible for the management of supplier relationships for accounting service providers.
Run quarterly meetings with the Residential Fund ELP accountants.
Liaison with external accounting suppliers.
Review and presentation of papers for Board and Audit Committee meetings.
Attendance at Board meetings of the fund and the subsidiaries on a quarterly basis.
Review quarterly investor report and inputs prepared by the Senior Associate.
Review of financial oversight memos prepared by the Senior Associate.
Review of half yearly consolidation reporting to Prudential Group prepared by TPA.
Working with the Client Reporting team to respond to ad hoc investor queries.
Working the Senior Associate to prepare information required by the tax team.
Review of financial due diligence and legal agreement, in relation to asset acquisitions and disposals.
Support with the on-boarding of new acquisitions.
Supporting the arrangement of internal financing.
Ensuring adequate preparation and review procedures exist and are sufficiently documented.
Attendance at the Property Fund Finance Steering Committee meetings.
Provision of cover to the Senior Associate and Associate Director and other team members.
Ensuring that accounting procedures are fully documented and kept up to date.
Attendance at weekly/quarterly fund meetings.
Review of rent arrears with asset managers.
Review and input into the quarterly investor report process.
Assistance with ad-hoc projects covering various elements of the work of the Property Fund.

Skills

Financial control
Financial oversight
Accounting
IFRS
Budgeting
Forecasting
Cash monitoring
Supplier management
Reporting
Due diligence
Legal agreement review
Investor relations
Tax compliance

Location

London

Work Type

Flexible working arrangements

Experience Level

Manager/Expert

Benefits

Valuable pension scheme of up to 18%
Access to Share Save and Share Incentive Plan
Financial wellbeing and support services
38 days annual leave (including bank holidays)
Opportunity to purchase up to five extra days of leave
Time Off When You Need It policy
Inspiring Families policy
Comprehensive support and paid parental leave
Private Healthcare
Critical Illness cover
Life Assurance
Additional family options for Health & Protection cover

About the Company

M&G has a heritage dating back more than 175 years with a long history of innovation in savings and investments.
The company combines asset management and insurance expertise to offer a wide range of solutions.
M&G's two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.
M&G is committed to creating an exceptional place to work for exceptional talent.
M&G offers workplace adjustments to ensure employees have the support they need to succeed.

Equal Opportunity

M&G strives to have a diverse workforce and an inclusive culture.
M&G welcomes applications from people of all backgrounds – across gender, ethnicity, age, disability, sexual orientation and more – including neurodivergent individuals, career returners and those with military service experience.
M&G is proud to be Level 3: Disability Confident Leader under the UK Government Disability Confident employer scheme.
M&G welcomes applications from candidates with disabilities and long-term health conditions.
M&G is committed to providing an inclusive recruitment process.
Candidates have the opportunity to request reasonable adjustments when applying.
Support is available at any stage of the application process.