Energy, Originality, Conviction...
Working with M&G Prudential as an Expenditure Operations Manager means becoming part of a brand with a global reputation and 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.
An opportunity has arisen to join the Management Information and Platform Strategy team within M&G Real Estate Operations. You will be responsible for oversight of many areas of Property Expenditure including payment processes, the Construction Industry Scheme and Capital/Revenue analysis and reporting. You will work with internal and external stake holders such as internal tax department, Supplier Relationship Managers, Transaction Managers, Construction teams, external Property Managers and accounting service providers. As part of a team you will be involved in providing high quality support, assistance and cover in the areas of Vendor Maintenance and other reporting function.
1. Capital / Revenue account allocation
• Oversight and management of the correct allocation of property expenditure between revenue and capital based on M&G approved policy and procedures.
• Reviewing relevant policy and procedure to ensure adequacy and appropriateness in the respective Fund contexts. Champion policy improvement and development over time.
• Developing relationships with third party consultants, property managers and internal stakeholders such as development & construction team, M&G Tax, Property Fund Finance and other.
• Reviewing performance of relevant suppliers and consultants to ensure adherence to service level targets and KPIs.
• Carry out periodic review and testing and provide regular management information reporting to provide comfort to senior management that the capital revenue policy and procedures are being operated correctly.
• Alert internal stakeholders and escalate identified problems to relevant decision makers.
2. Construction Industry Scheme
• Understand the M&G RE Construction Industry Scheme policy and ensure adherence of the policy throughout the business. Champion policy improvement and development over time.
• Become a ‘Champion’ for the application of CIS policy and compliance throughout the business
• Provide focal contact point for queries from the business and outsourced service providers and liaise with M&G Prudential tax to deliver correct and accurate guidance in relation to policy that is supported by appropriate technical advice.
• Understand the CIS obligations for new entities and development acquisitions in accordance with third party tax advisor reports.
• Register new entities as contractor / sub-contractor as appropriate.
• Utilise HMRC online system as required to ensure compliance.
• Verify underlying sub-contractors in accordance with CIS policy and/or relevant legislation.
• Notify relevant payment team of any applicable withholding tax and ensure tax is withheld from payments as necessary.
• Carry out periodic review and testing such that regular management information reporting provides comfort to senior management that the CIS policy is being operated correctly.
• To support M&G Prudential Tax, Corporate Property Services, internal commercial and internal accounting teams in dealing with any enquiries from HMRC, Audit and M&G RE clients.
• To support M&G Prudential Tax in representing M&G RE at industry bodies and in discussions with HMRC.
3. Responding to queries relating to property expenditure.
4. Ongoing oversight of payment processes.
5. Ensure that procedures and key controls are in place and up to date around payment processes.
6. Collation and dissemination of management information and report data.
7. Corporate citizenship
• To understand and demonstrate positive behaviours in line with our attributes and expectations.
• To understand the Company’s Sustainability vision and apply the Sustainability Strategy as appropriate for your role.
• Positively support the inclusion and diversity agenda in your work, your team and the wider business.
• To understand the Health and Safety responsibilities appropriate for your role and ensure that they are undertaken in accordance with the relevant Company policies, procedures and guidelines. This includes responsibilities relating to your own H&S and others affected by your actions. Any concerns relating to H&S risks must be escalated to your line Manager and the Company’s H&S Manager.
You will have:
We are looking for you to have a good understanding of property accounting but nor necessarily fund accounting. Previous experience in a Data/System Administrator role and/or experience of M&G Real Estates systems would be an advantage. It is essential for you to have knowledge of the Construction Industry Scheme and Capital/revenue distinction is essential.
• Excellent communication skills at all levels
• Good organisational skills, ability to manage time, and prioritise work.
• High level of attention to detail and accuracy.
• Ability to work on own initiative and be proactive.
• Good team player
• Good knowledge of Microsoft Office including Outlook, Excel, Word and PowerPoint.
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.