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For Companies At a Glance
- Tasks: Lead accounting policy for energy trading, ensuring compliance and providing expert advice.
- Company: Join bp, a global leader in energy committed to sustainability and innovation.
- Benefits: Enjoy hybrid working, health insurance, learning opportunities, and a vibrant company culture.
- Why this job: Be part of a dynamic team shaping the future of energy with impactful policies.
- Qualifications: Qualified Accountant with IFRS expertise and experience in commodity trading required.
- Other info: No travel required; embrace a diverse and inclusive workplace.
The predicted salary is between 43200 - 72000 £ per year.
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!
Role synopsis
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.
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.
Additional Information
At bp, we provide the following environment and benefits to you:
- A company culture where we respect our diverse and unified teams, where we are proud of our achievements and where fun and the attitude of giving back to our environment are highly valued.
- Possibility to join our social communities and networks.
- Learning opportunities and other development opportunities to craft your career path.
- Life and health insurance, medical care package.
- And many other benefits.
We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, colour, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform crucial job functions, and receive other benefits and privileges of employment. Don’t hesitate to get in touch with us to request any accommodations.
Travel Requirement
No travel is expected with this role.
Relocation Assistance:
This role is not eligible for relocation.
Remote Type:
This position is a hybrid of office/remote working.
Skills:
- Accounting
- Accounting for financial instruments
- Accounting Policies
- 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
Lead Accounting Policy (IFRS 9 - Commodity Trading) employer: BP Energy
Contact Detail:
BP Energy Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Lead Accounting Policy (IFRS 9 - Commodity Trading)
✨Tip Number 1
Familiarise yourself with the latest IFRS standards, especially IFRS 9, as this role heavily focuses on its application in commodity trading. Being able to discuss recent changes and their implications will show your expertise and readiness for the position.
✨Tip Number 2
Network with professionals in the energy trading sector to gain insights into current trends and challenges. This can help you understand the commercial aspects of structured transactions, which is crucial for the role.
✨Tip Number 3
Prepare to articulate your understanding of accounting policies and how they apply to real-world scenarios. Practising explaining complex concepts clearly will demonstrate your communication skills during interviews.
✨Tip Number 4
Showcase your ability to work collaboratively by discussing past experiences where you liaised with different teams. Highlighting your teamwork skills will be beneficial, as the role involves working with various functions within the organisation.
We think you need these skills to ace Lead Accounting Policy (IFRS 9 - Commodity Trading)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your qualifications as a qualified accountant and your experience with IFRS, particularly IFRS 9. Emphasise any relevant roles in public accounting or commodity trading to align with the job requirements.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the role and the company’s mission. Discuss your understanding of energy trading and how your skills can contribute to bp's ambition of becoming a net zero company by 2050.
Showcase Relevant Experience: When detailing your work experience, focus on specific examples where you provided accounting policy guidance or assurance. Highlight your ability to communicate complex accounting concepts clearly, both in writing and verbally.
Highlight Continuous Learning: Mention any ongoing education or training related to accounting standards or commodity trading. This shows your commitment to staying updated with emerging accounting literature and your proactive approach to professional development.
How to prepare for a job interview at BP Energy
✨Know Your IFRS 9 Inside Out
Make sure you have a solid understanding of IFRS 9, especially as it relates to commodity trading. Be prepared to discuss how you would apply this standard in real-world scenarios, as this will demonstrate your technical proficiency and relevance to the role.
✨Showcase Your Commercial Acumen
During the interview, highlight your ability to understand the commercial implications of accounting decisions. Discuss examples where you've successfully linked accounting policies to business outcomes, showing that you can think beyond the numbers.
✨Prepare for Scenario-Based Questions
Expect questions that require you to apply accounting literature to specific transactions. Practice articulating your thought process clearly and logically, as this will showcase your analytical skills and ability to communicate complex ideas effectively.
✨Demonstrate Your Team Collaboration Skills
Since the role involves liaising with various teams, be ready to discuss your experience working collaboratively across departments. Share examples of how you've influenced stakeholders or led training sessions, as this will illustrate your ability to engage and educate others on accounting policies.
