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 group of companies, operating as a Global Capability Centre providing a range of value adding services to the Group since 2003.

Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.

Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.

M&G Global Services has rapidly transformed itself into a powerhouse of capability that is playing an important role in M&G’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.

Job Description

Job Title

Vice President - Reconciliations

Grade

3B

Level

Manager Expert

Job Function

Finance

Job Sub Function

Finance Operations

Reports to

Head, Finance Operations

Location

Mumbai

Business Area

M&G Global Services

Overall Job Purpose

The role of Vice President will be responsible for supporting the improvement initiatives across Finance, such as for example, improving the controls and processes around Reconciliations and Ledger close activities. The finance function is undergoing significant transformation, so the role holder will be expected to drive the transition of work from various locations to the centre of excellence in India. The role-holder will be expected to focus on transparency and controls, and drive automation and operational excellence.

Primary Key Responsibilities (Top 3-5 KRA)

• Coordinate with other departments including outsourced service providers to obtain transaction information, research reconciling items and resolve issues.
• Reviewing and posting all journal entries to ensure all business transactions are recorded.
• Review all outstanding are minimum and establish reporting for aged outstanding’s to the Business along with the action plan for clearance.
• Assist in monthly reviews and annual audit with external auditors.
• Apply judgement to deliver outcomes, evaluating a range of potential solutions, considering the impact for accounting and requirements
• Identify and anticipates need for changes to continuously improve quality and efficiency of output.
• Stakeholder Management.

Additional Responsibilities :

• Set quality standards for reconciliations and review
• Review the reconciliations process and ensure there is regular and timely closing of outstanding items, with appropriate escalations to resolve issues
• Enable timely and correct Ledger Close to agreed / prescribed timelines
• Responsible for process around adequate oversight and control over the entire Reconciliations work to ensure balances reported in the financial statements are complete and accurate. This includes oversight over reconciliations performed by the company’s third party service provider
• Improve, streamline, automate existing processes and build out new processes
• Support transition of all reconciliation activities from various parts of the finance function to the Centre of Excellence in Mumbai
• Create a culture of continuous improvement, streamline and automate manual, repetitive processes
• Manage operations within the budgeted costs
• Provide timely and reliable MI for all areas of responsibility
• Provide inspiring leadership to the teams reporting into the role, set objectives and manage performance and career aspirations
• Ensure understanding and adherence to the Group’s Code of Conduct and, where appropriate, comply with all relevant regulatory policies. This includes completion of any mandatory training requirements
• Work with and support the accounting team in day to day activities , special projects and any process reengineering.
• Provide account detail and support and explain variances to internal stakeholders.
• Guides the team’s general accounting activities, including creating journals, reviewing transactions and reconciliations of accounts.
• Liaise with the external auditors, ensuring that timescales are communicated and agreed and the auditors’ requirements are met to ensure timely completion of their work
• Production of executive summary for account status and issues if any to Senior management and accountants.
• Key role in driving the development and implementation of system, processes related to team.
• Review and development of processes and procedures to accommodate business changes.
• Plan and schedule work to meet deliverable time lines
• Ensure compliance and governance framework is in place to provide adequate audit trail
• Ensure all process related documentations are timely updated to show changes
• Be responsible to build constructive rapport with stakeholder through meetings, discussions and encouraging feedbacks
• Ensure adequate cross-training of team members.
• Responsible for the people management / leadership of the area ensuring that all staff are appropriately trained and performance managed against agreed objectives
• Ensure daily production operates within SLA by planning and scheduling work efficiently
• 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, customer outcomes
• Demonstrate a positive risk, compliance and control culture through the identification, assessment, monitoring and management of risks and issues within the business area, alongside ensuring timely and appropriate resolution of control weaknesses, actions and failures that arise.

Key Stakeholder Management

Internal

• Finance Teams within the M&G Business
• Project Support Teams

External

• Third party administrators/data providers
• Auditors

Knowledge, Skills, Experience & Educational Qualification

Knowledge & Skills (Must Have) :

• Strong accounting knowledge with a specialisation in cash and other balance sheet reconciliations
• Supported finance transformation/ project initiatives
• Prior experience in insurance industry is preferred
• Good understanding of risk and control framework
• Ability to communicate with operations teams to investigate and resolve suspense balances
• Problem Solving and Decision Making Skills
• Time Management and Workload Planning Skills
• Good interpersonal skills
• People Management
• Proficient with Oracle, Microsoft Office and other similar tools.

Knowledge & Skills (Additional) :

• Good to have understanding of policy administration systems
• Good to have understanding of IFRS/ UK GAAP accounting treatments

Educational Qualification:

• Qualified chartered accountant with minimum 6 years of relevant experience OR Experienced Professional (MBA/ Post Graduate) with a minimum of 8 years of relevant experience.

M&G Behaviours relevant to all roles:

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.