Regulatory & Capital Reporting Accountant

Prudential UK Services; City of Edinburgh; Hybrid; GBP 65,000 - 90,000; Full time

Benefits offered by this job

Pension up to 18%

Share Save and Share Incentive Plan

38 days annual leave

Job summary

M&G Group Limited, within the Asset Management side, is recruiting a Regulatory & Capital Accountant in the Financial Reporting team. The role covers regulatory reporting, capital and liquidity forecasting, dividend planning, MI production, and ICARA ownership.

Reporting to the Regulatory and Capital Reporting Manager, you will be integral to UK regulatory obligations across the group and subsidiaries. We value flexible working arrangements and strive to provide support to succeed in the role,

Qualifications

• Strong communication and presentation skills are essential.
• Ability to build relationships with internal/external stakeholders.
• Problem-solving and analytical thinking needed for regulatory reporting.

Responsibilities

• Maintain capital model to forecast capital and liquidity needs based on strategy.
• Prepare quarterly capital generation figures for the group.
• Prepare FCA returns for the group and solo entities with regulatory data.
• Monitor seeding portfolio performance and hedging, assess capacity for new investment.
• Oversee dividend process and advise boards on levels of dividends.
• Calculate FCA fees and apply prudential regulations for data submission.
• Contribute to ICARA sections, including stress testing and wind-down impact.
• Assist in Pillar 3 disclosure and regulatory documents.
• Maintain control environment to meet regulatory requirements and improve controls.

Skills

Communication skills

Presentation skills

Relationship building

Problem-solving

Planning and organisational skills

Attention to detail

Education

ACA/ACCA/CA qualification

Job description

At M&G, 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.

Through 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.

We will consider flexible working arrangements for any of our roles and offer workplace adjustments to ensure you have the support you need to succeed 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).

What we offer:

• A valuable pension scheme of up to 18% (13% made up of employer contributions and 5% employee contributions).
• Access to our Share Save and Share Incentive Plan, alongside financial wellbeing and support services to help give you real confidence to put your money to work.
• Enjoy 38 days annual leave (including bank