Financial Accountant

Overview

Official

Job Title:

Senior Settlements Accountant

Contract type: Permanent

Hours: 37.5 hours per week

Location: Birmingham or Leeds

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.

Reports to: Lead Settlements Accountant

Deadline

Note:

We reserve the right to close the advert before the advertised deadline if there are a high volume of applications.

Role

Summary:

The Senior Settlements Accountant plays a pivotal role in ensuring the efficient and accurate execution of financial settlements for CfD, CM, and all upcoming new schemes. This position demands strict compliance with regulatory requirements and a focus on automating manual processes.

The ideal candidate is a proactive, adaptable, and detail-oriented professional who excels in a fast-paced environment, embraces change, and seeks opportunities for innovation and process enhancement.

In a role expected to drive the accounting for these established (CfD & CM) and emerging schemes settlement operations, the Senior Settlements Accountant will carry out month-end accounting for settlements, monitor the financial performance of the outsourced settlements provider, and maintain a robust control environment.

The Finance & Procurement department is integral to the organisation’s financial operations, responsible for settlement operations, managing the settlement service provider, and delivering monthly reporting to management and Department of Energy Security and Net Zero (DESNZ), the annual report, and accounts in IFRS.

In addition, the Finance department provides regular updated forecasts, forecast cash flows for HM Treasury, an annual budget which is subject to public consultation and is a key contributor into the companies’ long term strategic planning process, and oversees that all procurement activity is compatible with Managing Public Money guidelines.

Key Responsibilities

The key responsibilities of the role are outlined below, covering both LCCC and ESC. However, this is an overview of the role and is not exhaustive. As the size and number of different schemes continue to grow, the dynamic nature of the role may lead to further enhancements, and the expectations for the role will increase. LCCC recognises the evolving nature of the responsibilities and reserves the right to assign other duties commensurate with the role as required.

This presents an exciting opportunity for the successful candidate to contribute to a growing and dynamic environment, making a meaningful impact as the role evolves.

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.
• Be familiar with and understand the policies and regulations surrounding the CfD, CM, and upcoming new schemes operations of LCCC. Stay informed about forthcoming changes and provide input on necessary adjustments for settlement sources.

Financial Reporting and Analysis:

• Prepare and review journal entries, monthly reconciliations, and settlement-related reports from the outsourced provider. Reflect settlements activity internally for new upcoming schemes from our newly developed in-house systems.
• Monitor settlement costs and provide forecasts, budgets, and variance analyses.
• Assist with the preparation of annual financial statements, audit queries and regulatory filings.
• Review, reconcile, and transfer termination/drawdown funds to Treasury.

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.
• Prepare monthly Treasury…