The Treasury Debt & Derivatives Finance team (sub-team within Treasury Finance) is responsible for accounting, reporting and control activities for external finance debt (~$60bn), the related forex and interest rate derivatives (~$2bn) and the associated hedge accounting implications. In addition, the team supports the reporting of the entrepreneurial Treasury Trading activity and the relevant Annual Report and Accounts note sections associated with cash, debt & derivative activities.
This position reports to the Head of Finance, Treasury and offers a challenging opportunity to manage a small financial accounting team co-located with Group Treasury in Canary Wharf to sit at the heart of BP’s group funding and cash and debt management activities. Treasury Finance is part of the Chief Accounting Officer Team in Group Finance.
The successful applicant will gain exposure to a wide range of accounting, reporting and control issues, network with a variety of Treasury and other Finance teams and offers an insight into the Group’s reporting and MI processes. The role-holder directly manages a team of 2 analysts and coordinates across a network of Treasury, Trading and business finance teams and engages with external auditors.
- Lead accounting, reporting and control activities for external debt and related derivatives (forex and interest rate)
- Provide timely MI forecasts and commentaries for debt, derivative products, entrepreneurial financial product trading and corporate forex impacts
- Manage hedge accounting processes, including: hedge designation, documentation and effectiveness testing
- Prepare and review applicable notes to BP Group Annual Report and Accounts and provide input to statutory accounts for core Treasury companies
- Assess impact of new accounting standards and prepare technical papers with support from Treasury Finance Reporting Manager and Group Reporting Team
- Provide accounting support as needed to debt issuance team and treasury risk management team.
- Analyse reporting for new products and lead implementation of new product accounting when required
- Work with TMS System team to review testing of new product accounting or to design implementation of system changes
- Manage identified risks related to internal control and assurance, ensuring adherence to Group Standard and Practices, liaison with External and Group Auditors and resolution of any internal control gaps identified
- Drive continuous improvement through identifying opportunities for process simplification and standardisation
- Develop capability of the debt and derivative team and the wider treasury finance team
- Qualified chartered accountant with accounting policy and control expertise and the ability to apply this with integrity and rigour
- Demonstrated experience of IFRS accounting treatments for financial instruments and hedge accounting
- Understanding of simple derivative valuation
Essential experience and job requirements
- Existing leadership experience in managing both direct teams and dispersed networks. Sets clear direction, priorities and boundaries in support of objectives
- Track record in financial reporting and control process development. This requires the confidence to challenge the existing way of doing things and to act as an agent for change
- Builds and maintains key relationships with a variety of stakeholders - this includes the broader Finance group within BP and Treasury teams, fostering effective collaboration and teamwork
- Experience of operating in a large matrix organisation required and must be able to quickly understand technical and strategic context
- Ability to manage multiple priorities including ad hoc project work with a track record of delivery
- Must be a self-starter, highly motivated, and able to manage a broad agenda
- Good oral and written communication skills and the ability to understand and distil key messages in a clear fashion
- Strong interpersonal, influencing, coaching and teamwork skills
- Good excel skills and affinity for working with financial systems
Other Requirements (e.g. Travel, Location)
There are no additional requirements. Please respond with N/A below.
Desirable criteria & qualifications
- Wallstreet, FBW (SAP BW), GFO (Group Forecasting) experience beneficial
- AMCT qualification preferred
All of the values and behaviours are applicable to every role, but the following are most critical for this role:
- Command respect for professional judgement
- Foster effective teamwork & collaboration
- Demonstrate relentless drive & determination
- Manage risk and drive safe, reliable & efficient operations
- Drive continuous improvement
Technical / Role-specific Competencies
- Qualified accountant
- Team leadership experience of BP teams, contractors & external consultants
- Significant external relationship experience with auditors and outsource service providers
- Strong financial control, analytical and IT skills
- Detailed knowledge of GFO, Group Reporting and MI system processes
Is this a part time position?
We are a global energy business involved in every aspect of the energy system. We have 75,000 employees in 80 countries, working towards delivering light, heat and mobility to millions of people, every day. We are one of the very few companies equipped to solve some of the big complex challenges that matter for the future. We have a real contribution to make to the world's ambition of a low carbon future. Join us, and be part of what we can accomplish together.
The Finance Function fulfills three key activities: to report financial and operational results, both internally and externally, with independence and integrity; to support business performance management and planning processes by using consistent data collection and reporting processes; and to integrate financial and commercial processes to enable end to end optimization. Finance also supports the development of annual and long term plans, strategies and performance management processes as well as provides economic analysis and Group Investment Assurance and Approval Process (GIAAP) support for business opportunities, investments and other specific projects as needed.
Corporate & Functions