Energy Finance Manager (Solar & Wind)Overview
Job Title: Energy Finance Manager (Solar & Wind)
Location: Central London
Salary: £60,000 - 70,000
Opening date for applications: 3rd Aug 2018
Closing date for applications: 4th Sept 2018
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 500 people and manage more than £6 billion on behalf of more than 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 Healthcare, Octopus Investments, Octopus Property, Octopus Ventures and Octopus Labs. 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 generate wealth. And we're always on the look-out for smart, talented people who share our values.
About the role
We are looking for an experienced finance manager who will be responsible for the management accounts of an expanding portfolio of solar and wind farms worth in excess of £2Bn. The solar portfolio is currently the largest commercial solar portfolio in the UK and has a growing international presence, notably in Italy and France. The wind portfolio consist of companies in the UK and include a recent acquisition that specialise in generating wind energy with sites across the country The companies are owned by investors in Octopus managed funds or companies. The role sits within the Octopus Energy Asset Management team, which is responsible for the management of £2.6bn of energy assets.
The operational activities of the companies are managed by the Octopus Energy Asset Management Team centrally; however, much of the day to day operations and accounting is outsourced. The finance manager will be accountable for the quality of the management accounts and financial information 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 the various finance teams and managing the relationship between the teams.
The ideal candidate will be a qualified accountant (ACA) with experience either in industry or practice. They will have experience in managing outsourcers and accounting for PV solar and onshore wind assets with a detailed understanding of how these assets operate and the main risks associated with them. Strong technical accounting skills are a must with a particular focus on acquisition accounting and complex consolidations under FRS 102. As the team manages a large number of transactions, team members also need to be exceptionally well organised, hardworking and conscientious to ensure that all deadlines are met.
This role reports into the Solar & Wind Operations Director and is responsible for all financial aspects of the solar and wind portfolio; including review and oversight of external accountants, delivery of financial reports to asset managers, as well as the day-to-day financial management of the portfolio. Proficient knowledge of Microsoft Excel and SUN/Vision is a pre-requisite.
Job description - Solar and Wind Finance Manager
Day-to-day portfolio responsibilities:
- Review first-tier consolidations provided by external accountants and complete second-tier consolidation with variance analysis
- Deal with all queries taking ownership of requests and issues, creating stakeholder goodwill by providing appropriate solutions in a timely manner
- Working closely with the Energy commercial asset managers to monitor all costs against budgets
- Preparation of routine and ad hoc management reports
- Project manage the SPV level audits including review of statutory financial statements and disclosures; corporation tax return review and liaising with external auditors as required
- Work closely with the Energy commercial asset managers to prepare annual budgets and presenting these at a Senior level
- Manage and review the scope of works held with the external accountants to ensure quality and delivery of output in line with the contract
- 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.
- Improvement of monthly reporting across the portfolio introducing relevant KPIs and benchmarking
- Assist with the financial due diligence work streams in the buying/selling of new assets
- Complete the acquisition accounting for these transactions forecasting impact to the portfolio financial statements accurately and reporting against these forecasts
- Manage one qualified accountant
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