Low Carbon Contracts Company

Senior Settlements Accountant

Low Carbon Contracts Company

full-time

Posted on:

Origin:  • 🇬🇧 United Kingdom

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Salary

💰 £48,000 per year

Job Level

Senior

Tech Stack

ERP

About the role

  • 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.
  • 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.
  • 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 Analytics team.
  • Collaborate with Treasury to manage daily and monthly cash flows, as well as credit cover fluctuations during high-volume periods.
  • Assist in testing and transitioning manual reconciliations to automated ones.
  • Work with Data Engineering, Analytics, and Treasury on automation initiatives.
  • 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 operations.
  • Ensure effective collaboration with the settlements team on finance-related settlement issues to provide a seamless experience to all stakeholders.
  • Serve as the primary point of contact for finance-related settlement issues, queries, and escalations.
  • 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 requirements.
  • Manage a diverse workload, adapting to changing priorities and urgent tasks.
  • Proactively address operational challenges and resolve settlement discrepancies.
  • Contribute to a culture of curiosity and innovation by identifying and implementing best practices.
  • 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 execution 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 and follow-ups.

Requirements

  • Extensive relevant experience in treasury, banking or settlements.
  • Part or full qualification in CIMA, ACCA, ACA, ICAS, CIPFA, or equivalent.
  • Bachelor’s degree or equivalent experience
  • Proficient in payments to suppliers, month-end journal preparation, cashflow forecasts, and reconciliations.
  • Intermediate to advanced proficiency in Microsoft Excel and ERP systems.
  • Strong capability in handling and analysing large data sets
  • Proven ability to work under pressure and meet tight deadlines.
  • Excellent skills in conveying complex information succinctly and collaborating across teams.
  • Ability to supervise and coach junior staff if required.
  • Proactive with a commitment to continuous learning and improvement
  • Regulatory Knowledge (desirable): Strong grasp of financial regulations and compliance requirements.
  • Renewable Energy (desirable): Knowledge of CfD, CM, or similar renewable energy support mechanisms.
  • Financial Markets (desirable): Understanding of financial markets and instruments.
  • Internal Controls (desirable): Experience in developing and operating internal controls.
  • Advanced IT (desirable): Power query, Advanced Excel (including DAX measures)
  • Stakeholder Management (desirable): Confident presentation and stakeholder management skills.