Senior ARC Analyst - Regulatory Compliance

Job Profile SummaryGrade HRPTE and GPTI trade through several regulated entities in the UK and Europe. The governance of these entities in accordance with the rules and regulations laid out by the regulatory bodies e.g., the FCA, is critical and rule breaches could have serious implications.The stewardship of regulated entities is a cross functional activity spanning E&C, Legal, Treasury and ARC working together to ensure compliance.Compliance requires daily proactive management; ARC play a key role in this as they report the financial metrics against which the regulated entities are assessed. Key metrics include net assets, gross assets, gross liabilities, regulatory capital, as well as numerous risk factors. All these metrics contribute to how the entity is managed and can give rise to interventions to ensure that not only are the entities compliant with regulations, but the regulatory status of the entity remains optimal.The changing landscape, such as increased market volatility, changing regulations, increased reporting demands and changes within our own business have increased the complexity associated with managing our regulated entities and has resulted in the need for additional support within the ARC team.Our existing reporting is also excel based and a key activity of this new role will be to optimise the reporting tools, ultimately producing a dashboard that is completely linked to source systems.Key responsibilities:• Working closely with the Legal and E&C team to stay abreast of the regulatory landscape, ensuring that T&S are prepared far in advance of any changes that could affect the business• Daily reporting of regulatory capital requirements and escalation of any necessary interventions• Monthly reporting of key financial metrics and preparation for the monthly stewardship meeting• Coordination of ARC's response to regulatory surveys• Coordination of any interventions that have been decided across ARC, Treasury and GBS such as equity injections, dividends, cash transfers• Transformation of the reporting tools, moving away from excel spreadsheets onto more up-to-date applications to improve efficiency and control• Development of a regulated entity executive dashboard to enhance insights into the status of our regulated entities and internal reporting capabilityDesirable skills• An ability to read complex legal or regulatory documents and distil the information into key relevant points• An ability to work across functions with ease• Excellent planning and coordination skills to ensure efficient execution of interventions• An ability to interrogate SAP and middle office systems to facilitate daily / monthly reporting • Proficient with new tools such as Power BI or, at the very least, a strong desire and aptitude to learn these new skills at the outset - transformation will be a key part of this role
Job AdvertRegulatory Accountant, Gas, and power trading international
Location - 3 days office based - 2 days working from home
The world is changing fast, and our industry is changing with it. The energy mix is shifting towards lower carbon sources, driven by technological advances, and growing environmental concerns. In bp, we will help drive this transition - and our business will be transformed by it. We are continually looking for hardworking, committed and results-oriented people to help us shape the face of energy for the future.
BP's Trading & Shipping (T&S) is an integrated world-class trading organization that links together BP's trading and supply activities in oil, power, gas, petrochemicals, finance and shipping in order to build trading capability and capacity, particularly through people and systems.
As a trading organization BP has several regulated entities in the UK and Europe (Spain). The governance of these entities is set out by regulatory bodies such as the FCA. In the position of Regulatory Accountant your role will be responsible for processes and controls in place to ensure compliance with the regulatory requirements as set out by the relevant regulators.
It is essential that you have solid accounting knowledge and experience as you will need to use this to work with other team members.
Key accountabilities

• Daily reporting of regulatory capital requirements and escalation of any necessary interventions (K-Factors)
• Monthly reporting of key financial metrics including commentaries to explain any material variances
• Preparation for the monthly regulated entities stewardship meeting
• Submission of surveys to regulatory bodies such as the FCA, ONS and OFGEM.
• Coordination of any interventions that have been decided across ARC, Treasury and GBS such as equity injections, dividends, cash transfers
• Transformation of the reporting tools, moving away from excel spreadsheets onto Power BI to improve efficiency and control
• Close collaboration with teams within the T&S business to implement best practice
• First point of contact for internal and external audit teams in respect of queries for the regulated entities

Essential Experience/Job Requirements

• Qualified accountant (or part qualified) with Regulatory accounting experience (CRD IV - ICAAP, IFPR - ICARA/K-factor calculations)
• Excellent systems skills particularly Microsoft Excel and Power BI
• Experience using accounting systems such as SAP (other recognized alternatives would be acceptable)
• Demonstrated experience of automation of existing manual processes
• Ability to work within a very deadline orientated environment with strong attention to detail
• Strong level of analytical skills, numeracy, and strong financial understanding
• High level of communication skills and ability to present information.
• One Team mentality

Desirable Experience

• Spanish speaker or knowledge of Spanish accounting principles

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, colour, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status.
EntityFinance
Job Family GroupFinance Group
Relocation availableNo
Travel requiredNegotiable
Time TypeFull time
CountryUnited Kingdom
About BPFINANCE
Join us in a crucial time of transition. We are bringing all of our finance and procurement activities for the group into one place, enabling better work.
For you this means working with us on:
Compliance - efficiently delivering external reporting requirements to ensure we continue to meet our regulatory obligations in all jurisdictions, supported by robust control environment across all three lines of defence.
Stewardship - laying out a robust finance framework and providing ongoing management of the balance sheet and portfolio execution, supported by effective advocacy to the market.
Performance - facilitating the effective allocation of capital, development of business plans and coordination of business performance interventions to ensure a consistent delivery between strategic aspirations, operational forecasts and delivered outcomes. Furthermore, you will be responsible for value creation through mergers and acquisition-led deals, commercial negotiations and integration of business opportunities.
Transformation - driving digital transformation (centralising, digitising, optimising) across all elements of the finance entity to achieve sector-leading cost-performance.
Legal disclaimerWe are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, colour, national origin, sex, gender, gender expression, sexual orientation, age, marital status, neurodiversity/neurocognitive functioning, veteran status or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform crucial job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodations.