Management Accountant, Octopus Energy Group
Octopus Electric Vehicles
2+ days a week in office
The UK's most awarded energy supplier
Be an early applicant
The UK's most awarded energy supplier
1001+ employees
Be an early applicant
2+ days a week in office
1001+ employees
Company mission
To make a big green dent in the universe by building a truly sustainable energy system globally.
Role
Who you are
- Qualified Accountant preferred (ACA, ACCA, CIMA)
- Minimum 3 years experience in finance or accounting
- Advanced Excel skills
- Must be able to effectively communicate and present to senior management
- Knowledge of UK and international GAAP and IFRS accounting standards
- Demonstrate ability to liaise with internal and external stakeholders confidently
- Thrives in a scale-up, high-transaction environment with evolving needs
- Highly organised, detail-oriented, and self-motivated
- Experience with Netsuite accounting package (preferred but not essential)
- Financial services experience (preferred but not essential)
- Experience with securitisation funding structures/special purpose vehicles (preferred but not essential)
What the job involves
- Your role will include the coordination and preparation of the monthly management accounts for our electric vehicle leasing business, reporting on variances as required and providing commercial insight
- You will be working within the Accounting team and wider Finance team to assist with day-to-day financial management and importantly in the identification and implementation of process improvements
- Monthly management reporting for Octopus Electric Vehicles and other entities, this includes the preparing and reviewing balance sheet reconciliations, preparing accruals, liaising with finance representatives to finalise results
- Analyse monthly results and prepare commentary for senior management and be able to explain any unexpected results
- Assist with the preparation of consolidated reporting for the wider Octopus Energy Group and external party submissions to fixed deadlines
- Assisting department heads with day to day finance management of the business
- Engage with internal business to implement financial controls and process improvements
- Work with group company structures and intercompany transactions including foreign exchange transactions
- Assisting with the IFRS 16 leasing adjustments for monthly reporting
- Collaborate on audit preparation, VAT documentation, and regulatory filings
- Assisting with creditor and debtor ledgers and dealing with any queries regarding payments or receipts
- Quarterly VAT return/s
Salary benchmarks
Our take
According to Octopus, the energy industry in the UK is ruled by a handful of complacent companies peddling fossil fuels, pricing trickery, and poor customer service. Aiming to disrupt the status quo with sustainable energy, Octopus entered the market in 2016 and now supplies energy to millions of homes in a number of countries. Octopus has made a name for itself in energy circles largely because of its “Kraken” technology platform, which it claims is able to reroute energy from renewable sources around a network far more efficiently than competitors.
Octopus further differentiates itself through its aspiration to make everything as easy as possible for consumers, from the simplicity of their bills and the fact that customers are not locked into a contract, so they can leave at any time, to offering customer service over email and social media at times that suit customers. It aims to make the eco‐friendly choice the easy choice, so all of its tariffs use 100% green electricity, while being cheaper than competitors' non-green tariffs.
Its continually creating innovative new products too. For example, Octopus Tracker, where prices change daily to guarantee you get the market rate; Agile, where the price changes every half hour to enable you to benefit from cheap electricity when the sun shines, the wind blows, and the networks are under-utilised. One of the current challenges the company faces is that its products are more complex than its competitors, given that it uses 1000x more data than traditional energy companies. Because of this, it's exploring ways to explain to customers exactly how their products work.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 6 rounds)
Dec 2023
$800m
GROWTH EQUITY VC
Jul 2022
$225m
GROWTH EQUITY VC
Total funding: $2.6bn
Company benefits
- Equity Option Scheme
- Pension Scheme: We'll pay 5%. You can decide what you contribute, starting from 3%
- Money Coach: You may want to think about financial planning. The company has an arrangement with Octopus Money Coach . They offer the opportunity to talk with a professional coach
- Holidays: We're all grown ups, so we don't count your holidays here. We work hard and so we know you need to play hard as well (within reason of course)
- Flexible working: We're passionate about a genuine work-life balance here and we don't pay people to watch a clock. Need to catch that school nativity or work from home? That's cool
- Free Breakfast + other stuff: ice lollies if you're lucky)! Weekly on a Friday we all get together (this happens virtually too) for company updates and drinks - we call it Family Dinner
- Tech: We want to get the best out of our people and get that everyone is slightly different. Have a certain tech requirement? We’ll do our best to get it
- Car Salary Sacrifice: Browse the wide selection of electric vehicles and get a sample quote under our workplace salary sacrifice scheme. If approved, the monthly leasing costs are taken directly from your gross salary each month meaning you're saving on paying some tax
- Cycle to Work Scheme: The Cycle to Work Scheme is a cost effective way to “buy” a bike up to a value of £2.5K, which hopefully is enough for a decent commuting bike, even an electric one. This extends to the cost of accessories and safety equipment as well as the bike
- Season Ticket Loan: Commuting to the office on the regs? If you travel more than twice a week, it’s worthwhile getting an annual ticket. With our Season Ticket Loan, you can spread out the cost over 10 months. It’s quick and easy to sort. Once approved and ordered, your season ticket will be posted to you within 5 days or so
- Maternity leave: 16 weeks full pay + 8 weeks half pay + 15 weeks statutory maternity pay
- Paternity leave: 12 weeks full pay
- Private Medical Insurance: Say goodbye to long waiting lists! For anyone who wants some additional peace of mind when it comes to their health, we offer Private Healthcare Insurance at different levels of cover. The monthly costs are taken directly from your gross salary and spread across 12 months. You even save on National Insurance
- Gym & Yoga: You can get up to 25% discount on gym memberships and we have 45 minute live yoga classes open to all Octopus staff twice a week!
- Headspace: Need some calm in your life? We have 'Octopus Headspace Licences' available
- Eye Test: Free eye test vouchers for all colleagues who use Visual Display Units (VDU). Long spells of VDU work can often be visually demanding and can lead to tired eyes, discomfort, temporary short sightedness and headaches
Company HQ
Soho, London, UK
Articles
Leadership
Greg Jackson
(Co-Founder & CEO)Previously an Adviser at Ashcombe Advisers for 9 years and a Non-Executive Director at Zopa for 7 years.
James Eddison
(CTO)Previously CEO at Claripoint for 7 years and CTO at Tangent Labs also for 7 years.
Stuart Jackson
(Co-Founder & CFO)Previously a Director of "Foundation" Business Unit at Barclaycard for 2 years and Chief of Staff, Secured Lending SBU at Barclays also for 2 years.
People progressing
Joined as Marketing Assistant, being promoted to Marketing Executive after 6 months and again to Junior Product and Marketing Manager after 7 months. After 8 months they became a full Product and Marketing Manager.
Joined as Senior Talent Partner, being promoted to Talent Manager after 1 year and again to Head of Talent Acquisition after 8 months.
Diversity, Equity & Inclusion at Octopus Energy Group
- Unconscious Bias workshops for interviewers and hiring managers
- Octopus Energy Equality Foundation
- Partnership with the Saracens High School - inspiring future generations - https://www.saracens.com/powering-futures-together-saracens-high-school-octopus-energy/
- Octopus Energy Internships - https://octopus.energy/blog/ada-lovelace-tech-internship/
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