Management Accountant, Octopus Energy Group
Octopus Energy Generation
2+ days a week in office
The UK's most awarded energy supplier
Posted today
The UK's most awarded energy supplier
1001+ employees
Posted today
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 (ACA/ACCA)
- Good technical knowledge of UK GAAP
- Able to complete and review consolidations
- Experience of working with renewable energy investment assets and an understanding of relevant subsidy schemes is preferable
- Good understanding of CIR and other basis tax rules would be an advantage
- Highly organised, able to plan ahead to deliver accurate information to tight reporting deadlines
- Excellent communication skills, with a proven ability to work well with different teams and manage a range of different stakeholders
- Self-motivated and aspirational, comfortable working in a fast-paced changing environment
What the job involves
- We’re looking for a highly organised and motivated individual to join the Funds Finance team at Octopus Energy Generation
- Reporting to a Senior Management Accountant / Finance Manager, you’ll play a key role in managing financial reporting and analysis for a growing international portfolio of renewable energy assets
- These assets are owned by a mix of retail, institutional, and listed funds, and span across the UK, US, Europe, Australia, and Asia
- You’ll be part of a busy and diverse team, so it’s important that you’re proactive, eager to learn, able to manage multiple workstreams, and comfortable working to tight deadlines
- A big part of the role involves overseeing the quality of management accounts and financial data at the asset level, even though much of the day-to-day accounting is outsourced
- You’ll spend a significant amount of time working with external accounting teams to improve processes, ensure accuracy, and maintain strong controls
- This is a hands-on, wide-ranging position that will see you working closely with various teams across the business
- Building strong relationships with both internal and external stakeholders is key to success in this role
- Review and challenge management accounts provided by external accountants
- Report on the financial performance of the operational portfolios at monthly Customer Board meetings
- Ensure financial information and commentary is accurately presented in Investor Reports
- Prepare distribution forecasts and manage all distribution payments up to the fund
- Deal with finance related queries on portfolios – taking ownership of requests and issues, creating stakeholder goodwill by providing appropriate solutions in a timely manner
- Working closely with the OEGEN commercial asset managers to prepare budgets and monitor all costs against these budgets
- Assist the fund management team in quarterly valuations
- Assist the operational onboarding of new investments into OEGEN’s finance and reporting processes
- Project manage audits and review of statutory financial statements and corporation tax returns; liaising with external auditors as required
- Manage payment approvals as appropriate
- Ensure a robust control environment is present throughout the portfolio
- Be a valued business partner and build and maintain good working relationships with internal and external stakeholders
- Identify system improvements and take ownership of driving change across the team. This will involve working closely with external accountants to improve current processes across the portfolio
- Ad hoc reports and analysis as required
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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