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Senior Finance Business Partner, Asset Management

Phoenix Group
Lawley Bank, Telford, United Kingdom
Competitive Salary
Closing date
Feb 13, 2024

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Job Role
Finance Business Partner
Contract Type
Full Time
Benefits: Bonus, excellent pension scheme, private medical insurance, electric vehicle scheme, 38 days holiday incl. Bank Holidays plus 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more!

Job Type: Permanent

Reporting To: Head of AM Expense Management

This role will be based in Telford, with time spent working in the office and at home. There will also be some travel to our London office.

You can read more about Phoenix Flex here

We have an incredible opportunity to join us here at Phoenix Group as a Senior Finance Business Partner, to join our Asset Management Finance team.

Who Are We?

We want to be the best place that any of our 6,800 colleagues have ever worked.

We're the UK's largest long-term savings and retirement business. We offer our 12 million customers products across our market-leading brands, including Standard Life, SunLife and ReAssure, with c.£259 billion of assets under administration. We're a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we're not done yet.

The Role

The role will report into the Head of AM expense management and be the deputy for the HOF. Main responsibilities are around enabling accurate and timely MI to support Exec's commercial decisions.
  • Ownership of Service cost model - ensuring all relevant MI available to Exec's for commercial decisions on op model decisions
  • Ownership & Implementation of Business Unit allocations model - ensures the Service cost model is available in the lens of costs to individual business units, supporting decision making and alignment across the group, including responsibility for relevant challenge on expenses
  • Ownership Solvency II allocations model - ensuring a refreshed version available quarterly and all assumptions are documented, this will include being responsible for flagging any amendments or additional costs which are having a material impact on reserving.
  • Leading on peer benchmarking (AM & Insurance) - Working with external parties annually to benchmark Phoenix Asset management costs against the market. Also includes the challenge of looking at the costs associated with Phoenix AM as an Asset Manager (not oversight)
  • External asset management investment cost forecasting - leading on the reporting/forecasting/MI on external manager fees working closely with the SME's within the business
  • Create and own total cost bps reporting - strategic view of total cost base, looking at BAU, external fees, projects to tell the total cost story of AM
  • Supporting and leading on required M&A activity - involved in due diligence analysis, synergy target setting and integration planning
  • Ownership Market Data Partnering - take end to end ownership of supporting the MD team with financial management and helping to drive MD team to meet significant cost targets, to include challenging Quotes and managing stakeholder across the business from a budget perspective. Any material impacts will need to be run through all relevant models and Execs taken through all impacts to the business
  • Develop and maintain Investment costs principles - Analysis BAU costs and challenging those costs which should be treated as 'Investment Costs' which will including fund charging allocations
  • Leading AM Entity support from a AM Finance perspective - supporting with the work to establish an AM entity with associated setup of ongoing processes/reporting (and handing this over to BAU team)
  • Deputise for the Head of AM Expenses on all relevant tasks to include but not limited to;
  • Leading the annual financial planning cycle when required from a BAU & change perspective
  • Ownership of all AM Finance MI ensure level of output is inline with expectations to include, portfolio level steering packs, Business Review Meeting packs, Asset management internal report to all Execs and any reporting into Finance and the wider group
  • Deputise management of a team of 8 resources

What are we looking for?
  • Experience in a finance expense management role, preferably within a financial services company
  • Previous experience working within Solvency II guidelines and understating reserving methodology for a financial services company would be advantageous
  • Previous experience of working with senior managers to design and support the implementation of Business Management processes and working practices which align with the strategic aims and requirements of the business
  • A track record of managing and delivering change while maintaining colleague engagement.
  • Presentation skills ability to 'tell a story' with costs to different audiences through PowerPoint & verbal presentations

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we've advertised and you believe that you can bring value to the role, we'd love to hear from you.

If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

Find out more about #LifeAtPhoenix
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