Location
United Kingdom - London
Travel required
No travel is expected with this role
Job category
Finance
Relocation available
This role is not eligible for relocation
Job type
Professionals
Job code
RQ095672
Experience level
Senior
Job summary

JOB DESCRIPTION:

Our purpose is to deliver energy to the world, today and tomorrow. For over 100 years, bp has focused on discovering, developing, and producing oil and gas in the nations where we operate. We are one of the few companies globally that can provide governments and customers with an integrated energy offering. Delivering our strategy sustainably is fundamental to achieving our ambition to be a net zero company by 2050 or sooner!

KEY ACCOUNTABILITIES:

Understand new business activities within RPTE and RPTAP and provide advice on the accounting treatment of these transactions.
Lead the provision of advice to Finance & Risk teams on the application of the Group Reporting Manual, in particular in relation to commodity contracts, derivative accounting, lease accounting, and working capital management.
Assist with ensuring that the existing accounting policies within the GRM which specifically relate to ST&S are accurate and updated to reflect the current state of authoritative literature.
Provide oversight to the year end submission of data for ARA/20-F disclosures of ST&S’s activities.
Stay abreast of emerging accounting literature, acting as a subject matter expert on new guidance affecting ST&S’s business. Lead the implementation effort in respect of any new accounting standards.
Support the ST&S Senior Manager Accounting Policy at the APDT and Due Diligence meetings, preparing and presenting on required updates and results.
Liaise with other ST&S functions, including commodity and market risk, accounting, reporting and control, credit, legal and marketing and origination teams, in understanding ST&S operations and their impact on policy.
Network with other Group accounting policy teams to share best practices and lessons learned, ensuring consistent application of policy across the Group.
Lead training on accounting policy matters to a variety of audiences.

ESSENTIAL EDUCATION

Qualified Accountant (ACA, CIMA, ACCA, or CPA )

ESSENTIAL EXPERIENCE AND JOB REQUIREMENTS:

Technically proficient in IFRS, especially on the application of IFRS 9 to energy trading commodity transactions.
Significant experience in a public accounting firm in relation to the application of IFRS or experience in the accounting for a trading business, preferably commodities based.
The ability to construct and articulate a logical argument in applying accounting literature to a particular transaction, both orally and in writing.
An ability and interest in understanding the commercial justification and economics behind structured transactions.
Assertive, self-starter coupled with integrity, confidence, and credibility

SKILLS:

Accounting, Accounting for financial instruments, Accounting Policies, Accounting policy, Commercial Acumen, Commodity Trading, Communication, Digital fluency, Energy Trading, Financial Instruments, Financial Reporting, IFRS 9, Influencing, International Financial Reporting Standards (IFRS), Long Term Planning, Stakeholder Engagement

The Accounting Policy Lead role provides assurance on the application of accounting policy in ST&S, supporting and reporting to the ST&S Senior Manager Accounting Policy. The role covers policy guidance and assurance for the ST&S Refined Products Trading Europe and Asia Pacific (RPTE & RPTAP) businesses. The ST&S Accounting Policy team is responsible for establishing bp accounting policies that relate to ST&S in line with external reporting standards and providing advice and training within ST&S on the application of these policies. The ST&S Accounting Policy team also has a responsibility to provide a level of assurance to management that relevant accounting policies have been effectively applied. The team provides advice on all new business initiatives within ST&S and thus the role is an excellent opportunity to learn about a wide variety of ST&S activities and to work with a broad spectrum of people within the organisation.