EDF Energy is a core part of the EDF Group, one of the largest energy companies in Europe with key business operations in the UK,.....
EDF Energy is a core part of the EDF Group, one of the largest energy companies in Europe with key business operations in the UK, France, Italy and Belgium. We're the UK’s largest producer of low-carbon electricity, the biggest supplier of electricity by volume in Great Britain, the largest supplier to British businesses and we employ more than 13,000 people. We operate nuclear, coal and gas power stations, wind farms, and combined heat & power plants. We have a focus on safe, dependable energy generation and an ethos of service excellence. We are playing a leading role in new nuclear build in the UK to secure a bright future for the combined business and its employees.
This is an exciting opportunity to join the Nuclear Operations Finance Team as a Finance Planning and Reporting Senior Manager. Based at our Glasgow office, this role will be supporting a hybrid working model with team members located across various EDF sites.
The opportunity
The Financial Planning & Reporting Senior Manager is a key member of this team ensuring that Nuclear Operations are compliant with up-to-date statutory accounting standards e.g. annual impairment considerations and annual dividend considerations – both of which have significant impacts if they are incorrect. This will require a strong working relationship with the Financial Strategy Senior Manager, with the result of misstatement having severe reputational and potential significant financial consequences.
The post holder will be responsible for leading the interaction with key stakeholders within the business in respect of financial reporting and planning in order to inform, influence and challenge decision-making particularly to ensure that Nuclear Operations are compliant with statutory accounting rules.
Pay, benefits and culture
In addition to a competitive salary in line with our Nuclear Personal Contract, we offer a bonus, company pension scheme, paid holidays, and a range of flexible benefits that support our employees’ physical, emotional and financial wellbeing working on the EDF Personal Contract.
At EDF, everyone’s welcome. We strive to create an inclusive and diverse environment where everyone has a voice and where you feel confident being yourself. We’re committed to equality, diversity and inclusion. We’d like our future workforce to have an equal gender balance, represent a broad mix of people from minority ethnic backgrounds, LGBTQ+, those with a disability and supporting social mobility. We’re a disability confident employer and we’ll do all we can to help with your application, making adjustments as you need.We’ll value the difference you bring and offer opportunities for you to thrive and succeed.
What you’ll be doing
In this role, you will:
- Manage and develop management reporting and financial processes, ensuring the delivery of timely, accurate and relevant financial information to senior finance team members, the divisional management team, the Nuclear Operations Board and EDF UK Corporate. This will require that any changes in technical accounting is anticipated, understood and communicated.
- Lead the preparation of the Nuclear Operations managements accounts including annual turnover of ~£4bn, EBITDA of ~£2.5bn and cashflow ~£1.7bn (2023 Business Plan). This starts with the consolidation of entries from the SAP financial system and ends with the production of Company Accounts. The P&R senior manager is responsible for ensuring a strong control environment exists to avoid misstatement of accounts.
- Lead role in the interim and annual external audit of the Nuclear Operations business ensuring appropriate collaboration and influence with internal/external stakeholders to comply with accounting standards. Liaise with the External Audit Manager to ensure that the audit plan is understood and will communicate any changes since the previous audit including any significant risk areas e.g. change to useful life of an asset or suspension of capacity market and will provide the financial assessment of this and the appropriate accounting treatment. At times some of the contractual changes which impact the financial statements are complex and require detailed technical knowledge in order to account for appropriately e.g. ancillary contracts with National Grid and Carbon purchases.
- Lead in supporting the Nuclear Decommissioning finance team to ensure that financial reporting environment is accurate and relevant in order to enact prompt cost recovery from the Nuclear Liabilities Fund including lead role to ensure that reporting for cost recovery in the external environment is compliant with accounting standards.
- Lead the development of a robust internal control environment and be able to challenge existing finance processes where improvements are required.
- Lead the management of cash within a volatile market environment and acknowledging evolving nature of business as the Nuclear Assets reach end of life. Including forecasting, planning and consideration of liquidity including facilities (~£200m).
- Lead the divisional business planning and forecasting process for planning & reporting including providing challenge to BU business plans, working closely with both the Financial Strategy Senior Manager and Nuclear Operations Senior Finance Manager in this regard as well as collaborating with other relevant stakeholders in the delivery of the Business Plan including providing a lead role in the communication of the Nuclear Operations plan to EDF UK Corporate.
- Lead and manage the delivery of EDF UK Pension Scheme accounts including lead role in the annual external audit.
- Lead the Planning and Reporting and Pensions team to formulate and deliver team objectives and goals.
- Maintain and enhance relationships with other parts of the Nuclear Operations business and EDF UK business units (Customers and Corporate).
- Responsible for the management of within year investment reporting process.
- Fully engaging in the personal development of individuals within the team, ensuring all staff are appropriately trained for the post, strengthening business capability to drive optimal performance.
- Ensure ‘visions, value and ambitions” of the business are communicated to the team.
Who you are
For this role, you will be a Qualified Accountant with recognised professional organisation (e.g. CIMA, ICAS, ICAEW) or individual suitably qualified by experience with a background in the power sector, with a good understanding of the operational and commercial drivers of nuclear, coal, gas and renewable generation.
Experience in a finance post within a large organisation, analysing, influencing and improving business performance is ideal with sound commercial acumen, and the ability to challenge commercial arrangements with authority and respect. You’ll have a good understanding of the UK power market, a broad understanding of power station operations and excellent knowledge of International Accounting Standards and principles.
Strong technical accounting knowledge is essential including the preparation of financial statements and strong knowledge of pension accounting environment, You will have high levels of personal confidence, credibility, professionalism and integrity, with track record in demonstrating the ability to work closely with both Finance and non-Finance senior management. An expert in strategic planning, budgeting and forecasting with a proven ability to build effective working level relationships across functions including at a senior level. You have excellent communication skills both oral and written in order to communicate complex financial statements.
Applications close on 22nd May 2024.
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