Job Description: 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 requirementsIdentify and anticipates need for changes to continuously improve quality and efficiency of output.Stakeholder Management.Additional Responsibilities :
Set quality standards for reconciliations and reviewReview the reconciliations process and ensure there is regular and timely closing of outstanding items, with appropriate escalations to resolve issuesEnable timely and correct Ledger Close to agreed / prescribed timelinesResponsible 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 providerImprove, streamline, automate existing processes and build out new processesSupport transition of all reconciliation activities from various parts of the finance function to the Centre of Excellence in MumbaiCreate a culture of continuous improvement, streamline and automate manual, repetitive processesManage operations within the budgeted costsProvide timely and reliable MI for all areas of responsibilityProvide inspiring leadership to the teams reporting into the role, set objectives and manage performance and career aspirationsEnsure 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 requirementsWork 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 workProduction 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 linesEnsure compliance and governance framework is in place to provide adequate audit trailEnsure all process related documentations are timely updated to show changesBe responsible to build constructive rapport with stakeholder through meetings, discussions and encouraging feedbacksEnsure 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 objectivesEnsure daily production operates within SLA by planning and scheduling work efficientlyWork 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 outcomesDemonstrate 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 BusinessProject Support TeamsExternal
Third party administrators/data providersAuditorsKnowledge, Skills, Experience & Educational Qualification
Knowledge & Skills (Must Have) :
Strong accounting knowledge with a specialisation in cash and other balance sheet reconciliationsSupported finance transformation/ project initiativesPrior experience in insurance industry is preferredGood understanding of risk and control frameworkAbility to communicate with operations teams to investigate and resolve suspense balancesProblem Solving and Decision Making SkillsTime Management and Workload Planning SkillsGood interpersonal skillsPeople ManagementProficient with Oracle, Microsoft Office and other similar tools.Knowledge & Skills (Additional) :
Good to have understanding of policy administration systemsGood to have understanding of IFRS/ UK GAAP accounting treatmentsEducational 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.
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