Prudential - Group Financial Reporting Accountant

Job Profile :

Business Unit :

Group Head Office (GHO)

Business Function : Group Finance

Job Title : Group Financial Reporting Accountant

Reports to: Manager, Group Financial Reporting [line management remains the responsibility of PGS]

Location: Prudential Global Services, Mumbai

Organisation Profile :

Prudential plc is an international financial services group serving around 24 million insurance customers, with - 599 billion of assets under management. We are listed on stock exchanges in London, Hong Kong, Singapore and New York.

We provide protection and savings opportunities to our customers, social and economic benefits to the communities in which we operate, jobs and opportunities to our employees, and financial benefits for our investors. By offering security, pooling savings and making investments, we help to drive the cycle of growth.

Our strategy is designed to create sustainable economic value for our customers and our shareholders. It is focused on three long-term opportunities :

- The significant protection gap in Asia;

- The transition of US baby boomers into retirement; and

- The UK savings gap and ageing population in need of returns and income.

Job Scope :

This position is within the Group Financial Reporting team, whose main responsibilities are the group's external reporting to markets and regulators. This is a varied role involving IFRS reporting on the Group's results and Solvency II reporting, together with some involvement in other finance projects.

The team currently has one member of staff based in Mumbai, whose focus is on IFRS work. This new role arises due to expansion of the team's responsibilities and workload. The responsibilities for this role will focus more on supporting our Solvency II and investment reporting work, but with a significant element of IFRS work too.

The Group has now completed several submissions of Solvency II reporting. This role will involve helping plan and coordinate the Group's Solvency II reporting, liaison with business unit finance teams and review and analysis of submissions. The candidate will have responsibility for specific Group Quantitative Reporting templates (QRTs). There is scope within the role to identify improvements and efficiencies, as we look to benefit from our experience to date and embed our work.

The IFRS element involves ownership of elements of the Group financial statements reported to the stock markets. This requires project management and forming a strong relationship with our business units, other teams across Group Head Office and external providers. It entails calculation, consolidation and preparation of disclosures, and analysis of the data. There are opportunities to streamline processes and leverage the opportunities provided by new systems, and to get involved in finance-related projects.

Principal Accountabilities :

- Working with the London-based team to maintain an excellent relationship with key stakeholders in business unit finance teams and other head office functions, to coordinate aspects of the Group reporting;

- Gathering data from business units and third parties, consolidating, reviewing and analysing the results;

- Responsibility for specific Solvency II Group reporting templates and IFRS disclosures;

- Ongoing issue-resolution and process improvement, including supporting finance professionals across the Group's business units;

- Liaising with the Group Financial Accounting team to drive the resolution of technical accounting matters and to explain and react to technical changes;

- Providing detailed analysis for senior management and executives, liaising with other head office teams, especially Financial Performance, Investor Relations and Group Risk as necessary;

- Developing the financial reporting processes and ensuring on-going compliance with relevant Group financial controls;

- Liaising with the Group's internal and external auditors.

Key Result Areas :

Relationship Management - Maintain effective working relationships with relevant business unit teams across head office, ensuring that Group reporting needs are communicated and understood.

- Financial reporting - consolidation and analysis. Work with our business units to coordinate and obtain detailed information. Analyse and calculate adjustments for the group Solvency II disclosures and IFRS accounts. Produce QRTs and group financial statements disclosures on a timely, accurate basis. Analyse the results and respond to senior management review questions.

Technical knowledge - Learn quickly about Prudential and the way we work. In particular, gain an understanding of financial reporting processes, our finance systems, and our Solvency II approach. Keep abreast of technical accounting changes and develop knowledge over time of our financial structure and business performance.

Process development - Improve the efficiency of our reporting, optimising the technology and data available. In particular, contribute to our finance change projects to streamline our work and allow us to focus more on analysis.

Financial control and audit - Ensure that a clear audit trail exists and that controls are performed effectively and documented. Provide timely and accurate responses to the internal and external auditors.

Core Competences Required :

- Ability to communicate succinctly, build a rapport with others and explain complex issues;

- Organised self-starter able to work to tight deadlines and under pressure;

- Able to think flexibly and open to new ideas, with strong problem-solving skills and enthusiasm to improve processes;

- Strong interpersonal skills, able to liaise with stakeholders from different specialisms in different locations and at different levels of seniority;

- Comfortable with using complex IT systems and large data volumes;

- Familiarity with the preparation and consolidation of financial accounts is essential; experience of using complex finance systems such as Hyperion Financial Management is an advantage;

- A good knowledge of IFRS

- Experience of Solvency II reporting or other financial services regulatory work is an advantage;

- Life insurance experience or a knowledge of investment products and markets is an advantage;

- Close attention to detail and accuracy.