Senior Settlements Accountant

Senior Settlements Accountant

Department: Finance & Procurement

Employment Type: Permanent

Location: Birmingham/Leeds

Reporting To: Lead Settlements Accountant

Description

Contract type: Permanent
Hours: 37.5 hours per week

Salary: circa £48,000 depending on experience

Location: Birmingham or Leeds
WFH policy: Employees are required to attend the office 2 days/week
Flexible working: Variety of flexible work patterns subject to line manager discretion e.g. Compressed 9-day fortnight.
Reports to: Lead Settlements Accountant
Deadline Note: We reserve the right to close the advert before the advertised deadline if there are a high volume of applications.

Role Summary: The Senior Settlements Accountant plays a pivotal role in ensuring the efficient and accurate execution of financial settlements for CfD, CM, and all upcoming new schemes. This position demands strict compliance with regulatory requirements and a focus on automating manual processes. The ideal candidate is proactive, adaptable, detail‑oriented, excels in a fast‑paced environment, embraces change, innovation, and process enhancement. In a role expected to drive accounting for these established (CfD & CM) and emerging schemes settlement operations, the Senior Settlements Accountant will carry out month‑end accounting for settlements, monitor the financial performance of the outsourced settlements provider, and maintain a robust control environment. The Finance & Procurement department is integral to financial operations, responsible for settlement operations, managing the settlement service provider, and delivering monthly reporting to management, the Department of Energy Security and Net Zero (DESNZ), the annual report, and accounts in IFRS. In addition, the Finance department provides regular updated forecasts, forecast cash flows for HM Treasury, an annual budget, key contributor to long‑term strategic planning, and oversees that all procurement activity is compatible with Managing Public Money guidelines.

Key Responsibilities

The key responsibilities are outlined below, covering both LCCC and ESC. This overview is not exhaustive; as schemes grow, dynamics may enhance, expectations increase. LCCC recognises the evolving nature of responsibilities and reserves the right to assign other duties commensurate with the role as required. This presents an exciting opportunity to contribute to a growing dynamic environment, making a meaningful impact as the role evolves.

Settlement Operations:

• 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.

Financial Reporting and Analysis:

• 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.

Credit Cover and Reconciliation Management:

• 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.

Process Improvement and Automation:

• 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.

Collaboration and Stakeholder Management:

• Ensure effective collaboration with the settlements team on finance‑related settlement issues to provide a seamless experience to all stakeholders.
• Serve as 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.

Adaptability and Problem‑Solving:

• 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.

Administrative Responsibilities:

• 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.

Skills Knowledge and Expertise

Essential:

• Experience: Extensive relevant experience in treasury, banking or settlements.
• Certifications: Part or full qualification in CIMA, ACCA, ACA, ICAS, CIPFA, or equivalent.
• Education: Bachelor’s degree or equivalent experience.
• Accounting Skills: Proficient in payments to suppliers, month‑end journal preparation, cashflow forecasts, and reconciliations. Ability to work with large figures.
• Technical Skills: Intermediate to advanced proficiency in Microsoft Excel and ERP systems.
• Data Handling: Strong capability in handling and analysing large data sets, simplifying financial calculations, and excellent attention to detail.
• Time Management: Proven ability to work under pressure and meet tight deadlines.
• Communication: Excellent skills in conveying complex information succinctly and collaborating across teams.
• Coaching: Ability to supervise and coach junior staff if required.
• Mindset: Proactive with commitment to continuous learning and improvement.

Desirable:

• Regulatory Knowledge: Strong grasp of financial regulations and compliance requirements.
• Renewable Energy: Knowledge of CfD, CM, or similar renewable energy support mechanisms.
• Financial Markets: Understanding of financial markets and instruments.
• Internal Controls: Experience in developing and operating internal controls.
• Advanced IT: Power query, Advanced Excel (including DAX measures).
• Stakeholder Management: Confident presentation and stakeholder management skills.

Personal Qualities:

• Attention to Detail: Meticulous attention to detail and accuracy in tasks in relation to settlement processes.
• Problem‑Solving Attitude: Exhibit strong analytical and problem‑solving skills for addressing settlement challenges.
• Initiative: Self‑motivated and able to take initiative to address discrepancies and enhance overall efficiency and able to operate independently with limited supervision.
• Communication Skills: Collaborate effectively with internal teams and external partners to support delivery of business outcomes.
• Adaptability: Resilient and adaptable in the face of challenges.
• Technical Proficiency: Possess strong understanding of financial systems and tools.

Employee Benefits

We offer a full range of benefits. Key benefits that may be available depending on the role include:

• 25 days\’ annual leave and bank holidays
• Recognition schemes allowing colleagues to say thanks
• Company contribution to your pension scheme
• Family friendly policies, including enhanced company maternity/paternity and shared parental benefits
• Employee assistance programme for free, confidential support for your professional or personal life, including financial management and family care
• Special leave such as study leave, sabbatical or public duties
• Three days paid leave a year for volunteering to support your local community
• Season ticket loan scheme to support your commute
• Access to “Work Perks” offering deals, discounts and cash back on your purchases
• Family savings on days out and English Heritage or gym discounts through our partners.