Renewables Senior Financial Accountant
At Octopus we're transforming the industries we operate in and improving the lives of millions of people. We've built market-leading positions in a number of specialist sectors, including smaller company financing, renewable energy, healthcare and property finance. We employ in excess of 800 people and manage more than £9.1 billion on behalf of over 50,000 investors. Our products don't just help real people solve real life problems, they also make a positive impact on the world around us.
The Octopus Group incorporates Octopus Energy, Octopus Real Estate, Octopus Investments, Octopus Ventures, Octopus Wealth and Octopus Renewables. Our aim is to have an impact in everything we do, and to make a vital contribution to the UK economy by helping people, companies and institutions Job Description
The Renewables Senior Financial Accountant is responsible for an expanding portfolio of Institutional and Listed Funds, which primarily invest in Solar and Wind assets and have a growing international presence across the UK, Europe and Australia. While much of the day to day operations and accounting is outsourced at the asset (SPV) level, this role will be responsible for the quality of the management accounts and financial information produced at asset level and so will spend a high proportion of their time managing the performance of the external accounting teams. This will include supporting and improving information flows between teams, managing the quality of their outputs and establishing appropriate controls.
Alongside the financial management of the asset-level portfolio, the Renewables Senior Financial Accountant will also be accountable for the financial reporting of our Institutional and Listed funds. This will involve calculating and forecasting distributions, presenting financial information at Board meetings, and assisting with the financial reporting delivery to key investors.
The role sits within the Funds Finance team, reporting directly into the Octopus Renewables Financial Controller. Funds Finance is a 35-strong team which operates across the Fund Management team maintaining close operational involvement with the investment business. The Renewables team interacts with several other teams across Fund Finance and the wider business, so it is imperative that the Renewables Senior Financial Accountant is able to work closely with outsourced finance team as well as building strong working relationships with the investment teams. Asset-level responsibilities:
• Report on the financial performance of the portfolio at monthly Customer Board meetings
• Review and challenge management accounts provided by external accountants
• Review all asset-level budgets and ensure these are appropriately signed off by the Directors
• Assist with the purchase of new assets (managing the buy-side financial due diligence) and ensure these assets are appropriately embedded into the portfolio Portfolio-level responsibilities:
Qualifications Technical competencies:
- Quarterly distribution calculations and cash flow forecasting
- Review and challenge management accounts provided by external accountants
- Prepare fund-level NAV calculations (for Listed funds)
- Providing financial performance analysis for the fund on a quarterly basis for Board meetings/investor reporting
- Review and challenge Fund accounts provided by external fund administrators
- Project manage the fund level audits and review of statutory financial statements and interim accounts; liaising with external auditors as required
- Ensure a robust control environment is present throughout the portfolio and, in particular, for onboarding of new assets
- Completing all AIFMD reporting
- Assist with new fund raises
- Ad hoc reports and analysis as required
- Be a valued business partner and build and maintain good working relationships with internal and external stakeholders
- Identify system improvements and take ownership of driving change across the team. This will involve working closely with external accountants to improve current processes across the portfolio.
- Qualified accountant (ACA/ACCA) with at least 2 years post qualification experience (preferably gained in a relevant role)
- Good technical knowledge of IFRS (UK GAAP knowledge also an advantage)
- Good knowledge of fund accounting and fund structures preferred
- Knowledge of SUN/Vision would be an advantage.
Additional Information Our Values and DNA
- Highly organised, able to plan ahead to deliver accurate information to tight reporting deadlines
- Excellent communication skills, with a proven ability to work well with different teams and manage a range of different stakeholders
- Self-motivated and aspirational, comfortable working in a fast-paced changing environment.
At Octopus we don't just focus on what we do but also how we do it. Everyone shares our values of being straightforward, helpful and bold. And while these are the principles that guide us as an organisation, our DNA goes even further, by revealing our inner strength:
We are loyal: we fully buy-in to the company's vision and believe in everything that Octopus stands for. We are respectful: we live and breathe the Octopus values of being helpful, straightforward and bold. We are resilient: we have an inner strength that means we never give in We are intellectually curious: we seek to understand how the world works and we're always learning, adapting and improving We understand who our customers are: and because we know them really well, we always give them our very best. What we offer
Octopus has built an exciting and inclusive high-performance culture where employees feel empowered. This means we welcome discussions around flexible working hours. We also understand the value of diversity, and we have a team dedicated to promoting gender, ethnic, socio-economic, LGBT and disability equality, to make sure we back up our words with actions. All Octopus employees are given the opportunity to develop new skills, aim higher and accelerate their careers.