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Senior Settlements Accountant (Fixed-Term Contract vacancies)
Application Deadline: 5 January 2025
Department: Finance & Procurement
Employment Type: Contract / Temp
Location: London
Reporting To: Lead Settlements Accountant
Description
Contract type: a 6-months and an 18-months fixed-term contract
Hours: 37.5 hours per week
Salary: circa GBP 47,000 depending on experience
Location: Canary Wharf
WFH policy: Employees are required to attend the office 2 days/week
Flexible working: Variety of flexible work patterns subject to line manager discretion e.g. Compressed 9-day fortnight.
Role Summary: The Low Carbon Contracts Company (LCCC) and the Electricity Settlements Company (ESC) sit at the heart of the delivery of the UK's goals for secure, affordable, and sustainable electricity. LCCC is the counterparty to Contracts for Difference (CfDs), managing contracts and the Supplier Obligation Levy that funds CfD payments. This role is pivotal in ensuring the smooth operation of financial settlements while contributing to the transformation of our reconciliation processes from manual to automated where appropriate.
Key Responsibilities
Settlement Operations:
* Manage daily settlement activities, including payments and reconciliations, ensuring strict adherence to deadlines.
* Approve and oversee high-value transactions, such as credit cover drawdowns and returns, in line with organisational procedures.
* Respond promptly and effectively to settlement-related inquiries from internal and external stakeholders.
* Maintain strong controls over payment processes and notices to ensure accuracy and compliance with LCCC/ESC policies.
* Stay informed about policies and regulations surrounding the CfD, CM, and upcoming new schemes operations of LCCC.
Financial Reporting and Analysis:
* Prepare and review journal entries, monthly reconciliations, and settlement-related reports from the outsourced provider.
* Monitor settlement costs and provide forecasts, budgets, and variance analyses.
* Assist with the preparation of annual financial statements, audit queries and regulatory filings.
Credit Cover and Reconciliation Management:
* Oversee credit cover processes, including approvals, rejections, drawdowns, and returns for CfD, CM, and emerging schemes.
* Conduct monthly and quarterly reconciliations for CfD Generator/Supplier, CM settlements, and upcoming new schemes.
Process Improvement and Automation:
* Assist in testing and transitioning manual reconciliations to automated ones.
* Take ownership of identifying and implementing process improvements.
Collaboration and Stakeholder Management:
* Ensure effective collaboration with the settlements team on finance-related settlement issues.
* Build strong relationships with Contract Management, Scheme Operations, Legal, Treasury, and outsourced service providers.
Adaptability and Problem-Solving:
* Manage a diverse workload, adapting to changing priorities and urgent tasks.
* Proactively address operational challenges and resolve settlement discrepancies.
Administrative Responsibilities:
* Ensure proper documentation and tracking of payments, settlements, and financial records.
* Assist in bank account management, including setup, approvals, and limits.
Skills Knowledge and Expertise
Essential:
* Education: Bachelor's degree in related field.
* Experience: Minimum 2 years in treasury, banking or finance function.
* Certifications: Part or full qualification in CIMA, ACCA, ACA, ICAS, CIPFA, or equivalent.
* Accounting Skills: Proficient in payments to suppliers, month-end journal preparation, cashflow forecasts, and reconciliations.
* Technical Skills: Intermediate to advanced proficiency in Microsoft Excel and ERP systems.
* Data Handling: Strong capability in handling and analysing large data sets.
Desirable:
* Regulatory Knowledge: Strong grasp of financial regulations and compliance requirements.
* Renewable Energy: Knowledge of CfD, CM, or similar renewable energy support mechanisms.
Employee Benefits
* 25 days' annual leave and bank holidays.
* Company contribution to your pension scheme.
* Family friendly policies, including enhanced company maternity/paternity benefits.
* Employee assistance programme for free, confidential support.
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