Cost Allocation Manager

M&G plc.
19 Jan 2021
22 Jan 2021
Contract Type
Full Time
At M&G our vision is: to become the best loved and most successful savings and investment business and we're looking for people who are excited about joining us on our journey. We're digitally transforming and investing heavily in technology and innovation to develop new and improved customer propositions that really raise the bar for our customers. To help us achieve our vision we're looking for exceptional people who live our values and behaviours and who can inspire others; embrace change; deliver results and keep it simple.

We know that an inclusive environment makes us more accessible and ensures we attract, engage, promote and retain exceptional people. We welcome applications from all individuals regardless of age, gender/gender identity, sexual orientation, ethnicity/nationality, disability, or military service and welcome those who have taken career breaks. We will consider flexible working arrangements or home working arrangements for any of our roles.

What you can expect from us:
We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:
  • Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work
  • Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed
  • Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognise the important contribution you make
  • Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best

How do we support our employees:
All M&G plc employees will be supported in the workplace through our LifeWorks employee assistance programme which is run by Canada Life. If you need counselling, confidential financial or legal advice. T he service is available 24 hours a day, 365 days a year and offers access to qualified professionals who can provide specialist information, advice and support on many issues. It offers a broad range of services, including help with family issues, maintaining work/life balance and mental health support.

The Role:

Reporting to the Head of Cost Allocations, the Cost Allocations Manager will be responsible for ensuring accurate model operation whilst managing multiple stakeholders, communicating complex allocation results in a clear and concise way.

This role will begin working remotely and can then be based between working from home and our Edinburgh or Stirling office.

Key Work Level Accountabilities:
Manager or Expert:
  • For people managers, accountable for managing and motivating others to ensure quality of delivery to customers and stakeholders
  • For technical specialists, accountable for delivering expert advice or service, using specialist knowledge and subject matter expertise
  • Applies judgement to deliver outcomes, evaluating a range of potential solutions, considering the impact for customers, cost and risk
  • Manages conflicts that may impact delivery
  • Challenges upwards given knowledge of delivery and awareness of complex systems and the broader picture
  • Identifies and anticipates need for changes to continuously improve quality and efficiency of output
  • Manages resources and risks using expert judgment, know-how and experience

Key Responsibilities for this role:
  • Direct line management of 3 onshore colleagues and indirect management of 3 offshore colleagues
  • Accountable for overseeing the operation of the cost allocation model
  • Accountable for ensuring the group's intercompany balances are correct and liaising with senior leaders to ensure costs are appropriately spread across them
  • Ensuring that unit costs are accurately provided to key actuarial staff to support the Y/E valuation process
  • Accountable for accurate allocation of all asset management costs down to a fund level and be able to provide innovative MI to support fund profitability analysis
  • Deliver future allocation improvements that arises through from either regulatory or business requirements. This will include the development of a new front end analytical tool to improve ongoing analysis
  • Liaise with year end audit teams to validate allocation assumptions
  • Refresh the allocation methodology and refreshing on an annual basis

Key Knowledge, Skills & Experience:
  • Experience across a range of finance specialisms with strong numerical and analytical skills
  • Experience of either fund profitability and or actuarial reserving is desirable
  • A strong people manager who can motivate a team to deliver in a demanding environment.
  • This role requires a qualified Accountant/Actuary with significant PQE

Work Level: Manager or Expert
Recruiter Name: Emma Pryde
Closing Date: 22nd January 2021

We live by four behaviours at M&G and we ask all our employees to:
  • Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed
  • Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
  • Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
  • Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things