Regulatory and Capital Accountant

M&G plc.
London, United Kingdom
15 Nov 2022
27 Nov 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
At M&G our purpose is to help people manage and grow their savings and investments, responsibly. As a business, we are continuing to take steps towards a sustainable future, delivering better long-term solutions for our customers and clients and identifying new opportunities to make a positive impact for our environment and communities . To help us achieve our vision we're looking for exceptional people who live our values of care and integrity and who can inspire others; embrace change; deliver results and keep it simple.

We will consider flexible working arrangements for any of our roles and also offer work place accommodations to ensure you have what you need to effectively deliver in your role.
Role Summary:
The Financial Reporting team at M&G Group Limited (Asset Management side of M&G plc Group) is responsible for the financial, statutory and regulatory reporting for the M&G Group. Key stakeholders include M&G plc Group Finance, regulators and numerous Boards / Committees.
A vacancy has arisen for the role of Regulatory & Capital Accountant within the Financial Reporting team. The role covers a broad range of responsibilities including regulatory reporting, capital and liquidity forecasting, dividend planning, MI production, and ownership of key sections of the ICARA. In general, the role-holder will assist in the analysis and reporting of data required to fulfil the UK regulatory reporting obligations of M&G Group and its subsidiaries. The role-holder will report into the Regulatory and Capital Reporting Manager at M&G Group and be a key member of the Financial Reporting team.

Key Responsibilities of the role:
  • Maintenance of the capital model to accurately forecast future capital and liquidity resources and requirements based on the latest business strategy. This includes the preparation of the internal MI on capital and liquidity metrics, including actual and forecast numbers.
  • Preparation of quarterly capital generation figures, a key performance indicator of the wider M&G plc Group.
  • Preparation of quarterly, semi-annually and annually firm specific FCA returns for M&G Group and the FCA regulated solo entities, involving the reporting of financial position, performance and capital adequacy and other metrics and information.
  • Preparation of the MI which monitors performance of the seeding portfolio and related hedging and considers the capacity to accommodate new seeding investment.
  • Management of the dividend process within M&G Group with regard to both capital and liquidity, and recommend to the Boards of M&G Group and its subsidiaries the level and composition of dividends payable.
  • Responsibility for the calculation of FCA fees, a significant cost for the business, including reviewing the application of prudential regulations to calculate the submission data.
  • Responsibility for key sections of the ICARA, including review and documentation of the methodology and calculation of certain capital requirements, stress testing, recovery plans and wind down financial impact.
  • Assist in the preparation of the Pillar 3 public disclosure document.
  • Preparation and maintenance of regulatory procedural documents.
  • Assist the team with the maintenance of the control environment, to ensure it is fit for purpose and meets regulatory requirements. Work collaboratively with colleagues and take personal accountability to maintain and enhance controls.
Knowledge & Experience:
To ensure your success in this role you will be/have:
  • An accountancy qualification (e.g., CA, ACA, ACCA) with relevant post-qualified experience and working knowledge of accounting standards.
  • Good communication and presentation skills are a must, as well as a flexible and adaptable approach.
  • You will be capable of building good relationships both internal and external stakeholders.
  • Effective problem-solving skills are also required for this role.
  • The ability to lead and drive change forward. It is essential for you to have good planning and organisational skills, with excellent attention to detail.

It is desirable for the candidate to have a:
  • Knowledge of the regulatory reporting requirements of an investment management group.
  • Knowledge of the financial dynamics of the investment management business and how key factors influence regulatory capital metrics.
  • Knowledge of the Investment Firms Prudential Regime (IFPR).

Recruiter: Matt Campbell
Work Level: Experienced Colleague
Close Date: 25th November 2022

We have a diverse workforce and an inclusive culture at M&G plc, underpinned by our policies and our employee-led networks who provide networking opportunities, advice and support for the diverse communities our colleagues represent. Regardless of gender, ethnicity, age, sexual orientation, nationality or disability 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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