The Property Fund Finance team is responsible for the financial operations of property funds managed by M&G Real Estate. The applicant will be responsible and accountable for the provision of financial control and oversight services to growing range of funds and man investing in UK and Irish real estate.
Key Responsibilities:
The applicant will be responsible for providing financial control and oversight services to the following:
-
A new M&G Multi Family Housing Partnership NPS (Joint-Venture investing in UK multi-family residential properties requiring quarterly reporting).
-
A new Euler ICAV (closed ended fund investing in Irish multi-unit residential properties requiring quarterly reporting)
Fund launch and operational set up
-
Support senior management in the launch and set up of the new man . Act as a key PFF representative, attending operational and project working groups. Ensure collaboration with Fund management, legal, compliance and operations in order to facilitate the establishment of the new man /JV and operational readiness.
-
Actively liaise with new stakeholders to understand the accounting requirements for the new products and to ensure end to end processes are implemented and financial reporting frameworks are tailored to each man structure and jurisdiction
-
Ensure timely input into the operational and accounting manual for the new products and ensure preparation of appropriate controls and process notes are in place, pre-launch.
-
Coordinate with fund administrators to ensure seamless onboarding process.
Oversight of regular reporting
-
The Manager will be responsible for reviewing and approving, thly/quarterly reporting packs, NAV s, distribution calculations and other financial information prepared by outsourced service providers, and also prepare performance reporting files, as well as any regulatory reporting. The Manager is responsible for the oversight of these processes, and the review of complex transactions within the reporting, as well as liaising with our JV partners/Investors.
-
Review of the annual financial statements prepared by the administrators, under the applicable accounting standards and managing the annual audit process. The Manager will carry out a final review of all financial statements, prepared by the administrator, prior to their presentation to the respective boards.
Supplier management
-
Responsible for the management of supplier relationships for accounting service providers, including ensuring they are adequately instructed, responding to accounting queries, itoring and reviewing outputs and ensuring that the fund is receiving the appropriate level of service
-
The Financial Control & Oversight team is responsible for day to day liaison with the service providers, with the Manager responsible for issues resolution and attendance at relationship meetings
Budgeting & Forecasting
-
The Manager is responsible for the coordination and review of budgets prepared by the outsourced service providers, to include consolidation of the underlying budgets into a JV/Fund budget if required, as well as reviewing JV/Fund level variance analysis of actual results to budget, prepared by the administrator. Where applicable this will be itored against the annual business plan.
-
The Manager is responsible for ensuring that adequate preparation and review procedures exist.
Transactions & Corporate Finance
-
Review of financial due diligence and legal agreement, in relation to share/asset acquisitions and disposals, to ensure commercial terms support desired accounting treatment.
-
Support with the on-boarding of new acquisitions, including agreement of service provider scope, ensuring service providers are adequately informed and instructed, preparation of detailed accounting memos and agreement of accounting treatment with auditors.
-
Supporting the arrangement of internal financing, e.g. review of funding diagrams and management of funding lines, and movement of cash through the fund structure in con ction with the administrator.
Compliance
-
Oversight of fiscal and loan compliance processes where applicable.
-
Maintenance of management information reporting and risk registers.
-
Ensuring that procedures are fully documented and kept up to .
-
Ensuring appropriate issues escalation and resolution.
Provision of ad-hoc accounting / financial support to the business
The Manager will be the main point of contact for the business in relation to theses man . The role includes the provision of advice and support on a number of ad-hoc projects and issues, which involve:
-
Changes to JV/fund terms / documentation
-
Responding to requests from investors
-
Responding to legislative / regulatory changes
-
Responding to industry guidance, Service provider reviews
-
Implementation of new / enhanced accounting systems
General
-
Provision of cover to other Managers as required
-
Provision of cover to Director during times of absence.
-
Assistance with ad-hoc projects covering various elements of the work of the Property Fund Finance team.
-
Ensuring that accounting procedures are fully documented and kept up to
-
Attendance at weekly/quarterly fund meetings
-
Review and input into the quarterly investor report process
Knowledge & Skills:
-
Good experience of financial statutory accounting
-
Property financial accounting experience (preferably including exposure to institutional property funds)
-
Self-motivated with a diligent and detailed approach to completing tasks
-
Strong analytical skills. Able to understand, question and challenge a range of financial data
-
Confidence to communicate effectively with a range of internal and external parties
-
Flexible and proactive approach
-
Strong team work skills to work collaboratively with other Managers and team members to deliver together
-
This will be a highly visible role so requires someone with an approachable personality, strong focus and first class communication skills.
-
Excel (to advanced level is desirable)
-
Knowledge of Yardi Voyager system is beneficial
Experience & Qualifications:
Note: *We are in Hybrid working with three days work from office (subject to policy change)
