Investment (Project) Accountant – ESO at National Grid

Location:
Warwick, GB, CV34 6DA

Division: Electricity System Operator

Job Type:
Requisition Number: 47667

Department: ESO

Job Function: Finance and Risk

About the role

This is the time for action – we need to move at pace and reform our energy system – to deliver energy security, to tackle climate change and to protect our people.

The Investment Accountant provides comprehensive financial support to the project portfolio teams, providing regular financial analysis and reporting to facilitate effective financial management of projects. It proactively supports Project Managers, providing analysis, risk assessment and financial insight to support decision-making and ensuring appropriate accounting controls are followed.

This role will be based at our Warwick office, with occasional travel to our Wokingham office, and we continue to offer hybrid working from office and home.

About us

At National Grid Electricity System Operator (ESO), we’re aiming to operate a zero-carbon electricity system for Great Britain by 2025. This means using wind, solar and hydropower – without relying on any carbon-based generators to balance the grid.

Becoming the Energy Future System Operator

As you may have seen the Government and Ofgem have asked the ESO to take on new roles and responsibilities

Becoming the Energy Future System Operator is a critical step to help deliver a reliable and clean energy transition for all. The ESO, including all of its existing roles, will be at the heart of the new Future System Operator, taking on additional roles with a whole energy system mindset to drive progress towards net zero while maintaining energy security and minimising costs for consumers.

The new organisation will be set up as a public corporation with operational independence from government – bringing parties together to support optimised decision making and action. As now, it will be licenced and regulated by Ofgem through price control agreements. It is anticipated that the new organisation will be up and running by or in 2024.

The time to act on climate change is now. As part of our team, you won’t just be touching the lives of almost everyone in Great Britain – you’ll be shaping the way we use and consume energy for generations to come.

Key accountabilities

Work with the Project Management team to ensure that:
Project forecasts are at all times thorough, comprehensive, fully incorporate accurate risk, and are consistent with the demands of the programme.

Project finances (actuals and forecasts) are accurate and robust and that all risks and opportunities are effectively managed.

Any amounts that need to be written-off are actioned accordingly.

Useful Economic Life of assets is understood and monitored.

Projects are commissioned on a timely basis and that relevant WBS elements are closed.

All innovation rules are adhered to for internal spend and that Ofgem rules are not breached (Innovation Investment Accountant only).

Provide a review of performance to Senior Management and project teams, undertaking trend, variance analysis, critical evaluation, and providing financial insight to drive improved project performance. Conduct regular project surgeries to review financial insights and identify appropriate actions.

Deliver customer service excellence to internal customers, ensuring financial performance insights are delivered directly to the business and that all financial performance is understood. Provide timely responses to queries received relating to project accounting processes.

Ensure accuracy of actual costs incurred, that projects are accurately entered on company systems in accordance with Future System Operator (FSO)’s accounting policies and appropriate accounting standards.

Ensure that all controls for the function are properly conducted and any deviations are escalated as appropriate and remedied accordingly.

Provide data for investment business cases for actual spend and for closure papers for total project spend. Ensure sanction spend is fully understood and tracked.

Be recognised as a critical trusted partner for the business, utilising financial expertise and project knowledge to provide support to the wider business.

Deliver ad-hoc training for the business project teams to ensure all project managers and portfolio leads and other business customers understand basic accounting such as accruals and prepayments and understand their responsibilities regarding receipting of purchase orders, time sheeting etc.

About you

Educated to graduate level and / or equivalent professional experience.

Fully qualified accountant (member of CIMA, ACCA, or ACA), or working towards a relevant qualification.

Experience in financial and management accounting/reporting (including planning, forecasting, and budgeting).

Experience of project accounting including investment appraisal.

Experience of using SAP S/4 HANA is preferred.

Experience in a business facing role ideally in a regulated business.

Good understanding of governance, risk, and internal control frameworks.

Excellent communication and stakeholder management skills.

Strong customer service orientation.

What you’ll get

A competitive salary between £40,000 – 50,000 – dependent on capability.

As well as your base salary, you will receive a bonus based on personal and company performance and a competitive contributory pension scheme where we will double match your contribution to a maximum company contribution of 12%. You will also have access to a number of flexible benefits such as a share incentive plan, salary sacrifice car and technology schemes, support via employee assistance lines and matched charity giving to name a few.

More information

This role closes on 06/10/2023 at 23:59, however we encourage candidates to submit their application as early as possible and not wait until the published closing date as this can vary.

We work towards the highest standards in everything we do, including how we support, value and develop our people. Our aim is to encourage and support employees to thrive and be the best they can be. We celebrate the difference people can bring into our organisation, and welcome and encourage applicants with diverse experiences and backgrounds, and offer flexible and tailored support, at home and in the office.

We’re committed to building a workforce that represents the communities we serve, and a working environment in which each individual feels valued, respected, fairly treated, and able to reach their full potential.

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