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Financial Reporting is accountable for delivering on time and accurate financial results and disclosures across all reporting metrics, while providing real business insights, quality assurance and technical advice. The Non-Profit Valuation team is responsible for the valuation of M&G plc's annuities and unit linked insurance business, producing a complete view of the balance sheet for these products whilst demonstrating a deep understanding of the drivers of change in period on period results for both modelled and unmodelled results.
The team are responsible for the communication of results to internal and external audiences including regulatory reporting and for carrying out analysis of how the balance sheet moves under a range of different metrics and future scenarios
The role will require developing a strong overview of the M&G plc business, especially the non-profit business lines and a deep technical knowledge of our products, communicating with business areas and understanding the impact of various factors on the financial results
The role will require presentation of a range of financial results to Senior business leaders, demonstrating a clear grasp of the detail and strong communication of how the business has performed
The role holder will be a qualified actuary and will lead a team and will be ultimately accountable for the performance of the team, in terms of time, cost and quality, and including its responsiveness to future business requirements.
Key Responsibilities for this role:
Lead a team of Finance professionals, in the delivery on a range of financial reporting and business management metrics (including Solvency II, IFRS, new business profits, cash generation) for internal and external reporting with supporting analysis and clear and concise commentary demonstrating that the drivers of profit/ surplus are well understood as they relate to the non-profit business lines
Ensure the delivery of high quality management information, meeting customer needs, within a robust control framework
Support projects, including development of the reporting solution for IFRS17
Liaise with the wider Finance teams to understand the impacts of various activity on the ongoing financial statements
Hold ultimate accountability for the accuracy of the output of the team, balancing resource time and cost to optimise the quality of the output
Develop a team which challenges the status quo, embraces changes, strives to make continuous incremental improvements and is responsive to future business requirements
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 M&G plc's operational risk
Key Knowledge, Skills & Experience:
Strong knowledge of financial services, regulatory and legislative frameworks, including IFRS and Solvency II principles and associated external reporting and disclosure requirements
A strong understanding of financial statements and the key data included in the P&L and Balance sheet
Significant experience of preparing financial information for the purposes of meeting internal and external reporting requirements
Knowledge of financial services regulatory and legislative environment and reporting metrics
Knowledge of life and pensions products, markets and competitors
Knowledge of actuarial modelling methods and controls around model results.
Working knowledge of the impact of governance, risk and compliance processes
An understanding of the commercial implications of decisions
Strong verbal and written communication skills
Significant experience in understanding the wider business and distilling this information to provide understandable results to the business
Experience of disseminating complex quality information to internal and external stakeholders (including regulators and rating agencies) and ensuring it is understood
Experience of delivering advanced financial findings and results to an audience with varying degrees of sophistication by breaking down complex information and challenging others to appropriately limit technical jargon
Experience of using understanding of the business linked with finance knowledge to support the business and of making recommendations and helping to originate creative solutions
Experience of leading teams to deliver under pressure and/or to tight timescales
Experience of translating Finance's vision and goals into clear, specific and achievable objectives, making the vision tangible for individual teams
Ability to produce high quality technical work whilst operating within a well-controlled environment