THE OFFICAL JOB TITLE: Senior Settlements Accountant
Contract type:
Permanent
Hours:
37.5 hours per week
Salary:
circa £48,000 depending on experience
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 enhancemen
t.
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 environme
nt.
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 I
FRS.
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 guidel
**ines.
Key Responsibil**
ities: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 ev
olves.
Settlement Oper
* ations:Manage daily settlement activities, including payments and reconciliations, ensuring strict adherence to dea
* dlines.Approve and oversee high-value transactions, such as credit cover drawdowns and returns, in line with organisational proc
* edures.Respond promptly and effectively to settlement-related inquiries from internal and external stakeh
* olders.Maintain strong controls over payment processes and notices to ensure accuracy and compliance with LCCC/ESC po
* licies.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 s
ources.
Financial Reporting and A
* nalysis: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 a
* nalyses.Assist with the preparation of annual financial statements, audit queries and regulatory
* filings.Review, reconcile, and transfer termination/drawdown funds to T
r
easury.
Credit Cover and Reconciliation Ma
* nagement: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 forecasts and liaise with the Analyt
* ics team.Collaborate with Treasury to manage daily and monthly cash flows, as well as credit cover fluctuations during high-volume
periods.
Process Improvement and A
* utomation:Assist in testing and transitioning manual reconciliations to autom
* ated ones.Work with Data Engineering, Analytics, and Treasury on automation in
* itiatives.Take ownership of identifying and implementing process improvements, leveraging assistance from the team, process improvement specialists, and/or other business units
* as needed.Train team members on new systems and integrate changes into BAU o
perations.
Collaboration and Stakeholder
* Management:Ensure effective collaboration with the settlements team on finance-related settlement issues to provide a seamless experience to all st
* akeholders.Serve as the primary point of contact for finance-related settlement issues, queries, and e
* scalations.Build strong relationships with Contract Management, Scheme Operations, Legal, Treasury, and outsourced service providers to ensure seamless
* operations.Liaise with appropriate departments to address compliance and reporting re
quirements.
Adaptability and Prob
* lem-Solving:Manage a diverse workload, adapting to changing priorities and u
* rgent tasks.Proactively address operational challenges and resolve settlement di
* screpancies.Contribute to a culture of curiosity and innovation by identifying and implementing bes
t practices.
Administrative Resp
* onsibilities:Ensure proper documentation and tracking of payments, settlements, and financial records, maintaining a comprehensive audit trail for all
* transactions.Provide operational finance team support and cover roles as needed to ensure seamless execut
* ion of tasks.Assist in bank account management, including setup, approvals, and limits, in collaboration with Treasury
* & Banks.Maintain a tracker for companies in any type of insolvency event, managing the proof of debt submission process an
**d follow-ups.
Skills Knowledge**
and Exper
* tiseEssent
ial:Experience: Extensive relevant experience in treasury, banking o
* r settlements.C
ertifications: Part or full qualification in CIMA, ACCA, ACA, ICAS, CIPFA,
* or equival
ent.Education: Bachelor's degree or equival
* ent experienceAcco
unting Skills: Proficient in payments to suppliers, month-end journal preparation, cashflow forecasts, and reconciliations. Ability to work with
* large figures.Tec
hnical Skills: Intermediate to advanced proficiency in Microsoft Excel an
* d ERP systems.
Data Handling: Strong capability in handling and analysing large data sets, simplifying financial calculations, and excellent attent
* ion to detail.Ti
me Management: Proven ability to work under pressure and meet ti
* ght deadlines.
Communication: Excellent skills in conveying complex information succinctly and collaborating
* across t
eams.Coaching: Ability to supervise and coach junior staf
* f if req
uired.Mindset: Proactive with a commitment to continuous learning a
nd improve
* **ment
Desirable:Regula
tory Knowledge: Strong grasp of financial regulations and complianc
- e requirements.Re
newable Energy: Knowledge of CfD, CM, or similar renewable energy supp
- ort mechanisms.Fin
ancial Markets: Understanding of financial markets a
- nd instruments.Int
ernal Controls: Experience in developing and operating int
- ernal contro
ls.Advanced IT: Power query, Advanced Excel (includin
- g DAX measures)Stakehol**
der Management: Confident presentation and stakeholder man
**agement skills.
Per**
* sonal Qualities:Atten
tion to Detail: Meticulous attention to detail and accuracy in tasks in relation to settl
* ement processes.Problem-S
olving Attitude: Exhibit strong analytical and problem-solving skills for addressing settle
* ment challe
nges.Initiative: Self-motivated and able to take initiative to address discrepancies and enhance overall efficiency and able to operate independently with limi
* ted supervision.Commu
nication Skills: Collaborate effectively with internal teams and external partners to support delivery of bu
* siness outcom
es.Adaptability: Resilient and adaptable in the fac
* e of challenges.Techni
cal Proficiency: Possess a strong understanding of financial sy
stems and tools.
Employee BenefitsAs if contributing to and supporting work that makes life better for millions wasn't rewarding enough, we offer a full range of benefits too. Key benefits that may be available depending on
* the role include:25 days' annual leave
* and bank holidaysRecognition schemes allowing colleag
* ues to say thanksCompany contribution to yo
* ur pension schemeFamily friendly policies, including enhanced company maternity/paternity and shared
* parental benefitsEmployee assistance programme for free, confidential support for your professional or personal life, including financial managemen
* t and family careSpecial leave such as study leave, sabbatical
* or public dutiesThree days paid leave a year for volunteering to support you
* r local communitySeason ticket loan scheme to sup
* port your commuteAccess to "Work Perks" offering deals, discounts and cash back
* on your purchasesFamily savings on days out and English Heritage or gym discounts thro
ugh our partners.