Financial Accountant – Capex Accounting and Regulatory Finance Team

Job Title: Financial Accountant – Capex Accounting and Regulatory Finance Team
Contract Type: Permanent
Location: Reading
Salary: Paying up to £52,000 per annum, depending on experience.
Start Date: 2020-04-15
Reference: 8462
Contact Name: Nicole Rich
Contact Email:
Job Published: April 15, 2020 16:26

Job Description

What is the purpose of this role?

The role involves monitoring and developing financial and project governance controls, managing the external audit and regulatory accounts processes from a CAPEX perspective, as well as various Adhoc projects supporting the business and implementing process improvements.

This role will provide technical accounting expertise to other members of the Finance Community as well as the wider Capital delivery community.
A key focus for this role is interpreting the observations and points raised by our External Auditors and subsequently developing, delivering and embedding process improvements to address them.

As well as this you will provide support through audit and will explore process improvements reporting on Thames’ £15bn fixed asset register and associated annual capital programme expenditure of c.£1bn.

You will have the opportunity to use your technical accounting expertise to support the team and the wider Capital Delivery community (including Opex/Capex decisions and developing disposals strategy) and is an excellent opportunity to develop your career at Thames Water.

The role offers the opportunity for managing and supporting the development of other team members.

 What makes this role unique?

As the UK's largest Water and Wastewater Company, we provide the essential service at the heart of daily life, health and enjoyment to 15 million customers across London, the Thames Valley and the surrounding area.

 We have an amazing history but are equally excited by the future. We already self-generate enough electricity to power a city the size of Oxford, but by 2020 we expect 30% of our power to come from sewage. In addition, investment has averaged over £1 billion in recent years to improve our network and infrastructure - our pipes, sewage treatment, and clean water treatment plants, which are some of the biggest and most advanced in Europe.

You will be joining at a time when the entire industry is transforming towards a more competitive market - the biggest change since privatisation.

A great opportunity to make the first move into (or generally gain experience in) a large finance team in a blue-chip organisation and put you in regular contact with some of our most senior stakeholders.

Key Accountabilities:  
This role will involve, but not be limited to:
  • Supervision of the Fixed Asset Register including the lead schedule, key balance sheet accounts, depreciation reporting, capital contributions, and capital creditor analysis
  • Provide technical accounting advice to the wider capital delivery community with respect to the classification of Opex/Capex spend supporting and advising the business and other final teams (including Capex Reporting team).
  • Work on the development of TWUL disposals strategy, business processes including on-going review of investment committee papers and commissioning processes.
  • Manage external audit control points, develop and manage solutions with the business, liaison with external and internal audits.
  • Manage the budgeting and quarterly forecasting of capital creditors, additions and depreciation to deadlines.
  • Monthly, half-year and full year of AUC related to timely commissioning of projects including business liaison, reviewing accounting treatment to key deadlines.
  • Ensuring that month-end statutory and management reporting is completed to a timescale and to the expected high quality.
  • Responsibility for producing monthly financial and governance controls pack and on-going development due to business change and development of a new AMP period. Ensure the pack is produced to relevant deadlines and ensuring high quality for review by the leadership team.
  • Responsibility for producing the Capex financial regulatory reporting tables, including half-year and full-year deliverables to deadlines and review and sign off by auditors.
  • Developing relationships with other teams throughout finance, capital delivery community and external stakeholders.
  • Working as one team to deliver excellent customer service to all stakeholders.
  • Ad-hoc projects such as various systems improvements aimed at improving the efficiency of reporting in both the Fixed Asset Register and Regulatory Reporting areas.
What skills are we looking for?

This role will provide an opportunity to apply your accounting skills to implement process improvements by reviewing and identifying key controls and improving the efficiency of reporting.

This is a unique opportunity involving the development of relationships with key stakeholders, engaging with the business to add value whilst developing the role and enhancing your skills.

This role requires a positive result-driven mindset and strong communication skills as you will be required to engage with colleagues at all levels throughout the business on a range of Capex issues. In addition, you must be a qualified accountant (CIMA / ACCA / ACA or equivalent) with strong analytical skills, especially with respect to Excel and SAP.

Experience of working in a utilities/water organisation is desirable but not essential.

What is in it for you?

Our competitive salary package includes an excellent contributory pension, 26 days holiday per year increasing to 30 with the length of service and a wider benefits scheme. This includes an annual pay review, season ticket loans, voucher scheme giving you money off in major retail outlets, loyalty awards for continuous service plus much more, including our refer-a-friend bonus, where you can receive up to £1,000 for helping someone get a permanent position within the company. 

We’re also proud to be here for our local community, offering all of our teams two days paid volunteer leave a year, as well as proudly supporting a lot of local events and charities. 

About us:

Thames Water is the UK’s largest water and wastewater company. We make a daily difference to millions of customers by supplying 2.7 billion litres of world-class water to around 10 million homes.

As our world changes, the need to take care of our most precious resource is greater than ever, both locally and globally. That’s why, at Thames Water, every one of our actions, big and small, matters every day. Water is essential to daily life, and that means our business is always open. We’re passionate about providing world-class tap water, now and for the future.

We’re also turning waste into power, self-generating 20% of the energy we use and, in turn, doing our bit for the planet. We’re reducing plastic waste by celebrating our tap water and rolling out an ambitious water fountain project. We’re using our voice to lobby for change and partnering with WaterAid to provide clean water to the world’s poorest communities.

Together, we’re building a better future for our customers, our region and our planet.

Thames Water is a unique, rewarding and diverse place to work. If you join our team, you’ll enjoy fast-tracked career opportunities, flexible working arrangements, and unparalleled benefits. We’re also proud to be an equal opportunity employer, Stonewall Diversity Champion and Disability Confident Leader, welcoming individuals from all walks of life and leading the way with award-winning mental health and well-being strategy.