External Reporting & Compliance Manager

at  UK Power Networks

Reference Number - 79664
This External Reporting & Compliance Manager will report to the Financial Controller and will work within the Finance directorate based in our London or Crawley office. You will be a permanent employee.
You will attract a salary package depending on experience of c.£120k including car cash allowance, medical insurance and bonus of 10%. This role can also offer blended working after probationary period (6 months) - 3 days in the office and 2 remote.
Close Date: 31/10/2024
We also provide the following additional benefits
25 Days Annual Leave plus bank holidays
Personal Pension Plan – Personal contribution rates of 4% or 5% (UK Power Networks will make a corresponding contribution of 8% or 10%)
Tenancy Loan Deposit scheme
Tax efficient benefits: cycle to work scheme
Season ticket loan
Occupational Health support
Switched On – scheme providing discount on hundreds of retailers products.
Discounted access to sports and social clubs
Employee Assistance Programme.
About UK Power Networks
UK Power Networks (UKPN) is a distribution network operator for electricity covering South East England, the East of England and London, serving 8.5 million domestic homes and businesses, and some 20 million customers. UKPN operates three networks which distribute electricity using more than 170,000km of underground cables and overhead lines, and more than 130,000 substations.
Employing approximately 6,000 people, UK Power Networks’ primary role is to ensure the infrastructure that brings power to homes, businesses, hospitals, schools, and other public services delivers reliable, safe and sustainable electricity to customers.
UKPN is regulated by the Office of the Gas and Electricity Markets (Ofgem). Revenues are c.£2 billion per annum with a regulated asset base of £9 billion.
Since 2010 UKPN has undergone a phenomenal transformation. From being the laggard in the distribution sector, it is now widely regarded as the leading electricity distribution company in Great Britain. Since 2010, UKPN has:
Dramatically reduced lost time injuries by 90% making it the safest DNO.
Reduced power cuts by 59% making it the most reliable group of networks.
Delivered customer satisfaction levels at 94% and is the only utility recognised in the UK Institute of Customer Service’s Top 10 rankings, beating household names like Amazon, John Lewis and Apple.
It has connected enough renewable energy to power more than 3.5 million homes.
Made a commitment to decarbonization and enabling the net-zero challenge. UKPN was the first electricity distribution company to commit to verified science-based targets.
Repeatedly been named Utility of the Year and a Top 25 Best Big Company to Work For. It is among just 5% of companies in the world awarded Investors in People’s highest status - Platinum.
UKPN is a progressive company with a clear vision, dedicated and focused people, underpinned by a strong performance driven culture.

PRINCIPLE ACCOUNTABILITIES:

Manage the statutory reporting/ annual reporting process.
Manage the relationship with the external auditor and the external audit process.
Meaningfully contribute to the design and execution of the tendering for audit services, and prepare the business for a smooth transition of external auditor.
Prepare accounting papers to support and report on technical accounting and governance matters (internal and external including Audit Committee and Remuneration Committee and Board.
Partner with the wider business to provide advice relating to financial accounting matters in respect of commercial developments and changes in the business.
Provide technical accounting leadership on IFRS/ FRS 102 to ensure compliance and best practice across the Group
Lead projects to review and improve existing accounting practices and related processes.
Remain current on and lead response to any changes in regulatory requirements, including accounting standards, financial reporting and related governance and controls. Including amendments to FRS 102.
Coordinate improvements across the Group in respect of ESG, Climate and Sustainability reporting and disclosures.
Prepare and providing briefing updates to the CFO and CEO in respect of certain matters, including technical accounting, regulatory changes and the external audit process.
Support key financial processes such as month-end close and reporting, and Budgeting and Forecasting, as may be required.
Manage the submission of Environmental and Sustainability information to shareholders – coordinating with the business.
Contribute to the improvement in the efficiency and automation of key financial processes relating to financial reporting and compliance.
Support wider finance and business teams such as Tax, Treasury, Commercial Services and Strategy and Regulation.
To participate in ad hoc project such as mergers and acquisitions.

QUALIFICATIONS:

Qualified accountant with extensive post qualification experience (ACA, ACCA, CIMA or equivalent)
Strong academics, educated to degree level or equivalent
Demonstrable deep technical accounting knowledge, IFRS and/ or FRS 102
Proven experience in the application and rollout/ transition of accounting standards
Significant experience in the preparation or implementation of Annual Reports for large or listed UK entities
Knowledge of regulatory requirements relating to UK Annual Reports, including corporate governance, companies act
Experience of preparing technical and governance papers, for internal management and Audit Committee/ Board
Strong Project Management skills
Specific knowledge or experience of Sustainability reporting requirements (such as TCFD) would be advantageous but is not required. A strong interest in this area would be a definite plus
Knowledge or experience of the energy sector, regulated sector or similar would be beneficial
Key Competencies
Technically in the detail.
Motivated to understand and enforce compliance.
Credible with Senior Executives. Able to communicate effectively and articulate a position to senior management including the CFO and CEO.
Hands on, roll up sleeves and able to work independently and pro-actively on own initiative
Ability to influence Senior Stakeholders. Must be creditable and able to establish senior relationships quickly and effectively and be comfortable/ confidence in knowledge.
An established track record of being able to Project Manage. An ability to evidence success at initiating and delivering projects with multiple stakeholders to deadlines.
Excellent business writing skills – be able to contribute key content fit for external publication.
Able to work productively with partners inside and outside of finance to deliver outputs.
A professional who demonstrates a leadership approach, moves others to action by planning, motivating, organising and controlling work being done.
Offer a high level of commitment.
Help develop other less experienced members of staff through coaching/ feedback.
Ability to work well as part of a team.
Health & Safety Responsibilities
Managers and supervisors carry both legal and company responsibilities for ensuring the health and safety of their employees, those under their control and those who might be affected by the work undertaken, i.e. public, visitors and employees of other organisations. This includes briefing individuals working for them and ensuring there is the necessary understanding, competence and application of requirements to work safely and without harming the environment.
Employees will ensure they understand the health and safety risks involved in their work activities and their responsibility to apply the controls needed to manage those risks to acceptable levels. Similarly where work activities can have an adverse impact upon the environment, and where there are legal requirements, employees will understand those impacts and the controls they must ensure are applied.
If in doubt ask!
We are committed to equal employment opportunity regardless of race, colour, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender, gender identity or expression, or veteran status. We are proud to be an equal opportunity workplace

Compliance is a core element of UKPN’s strategic vision.
The main purpose of this role is to lead compliance and best practice in respect of external reporting, accounting standards and governance across the Group. You will take a leadership role to deliver best in class performance, manage change and driving improvement by engaging with the business on compliance matters.
This is a rewarding opportunity for you, with exposure to Executive Management, including interaction with the CFO, CEO and at Board level. This is an important role and if you are performing well will have the potential to join the Senior Management team within 2-5 years.