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Accounting Policy Manager

Posted: 2 Dec 2019 Closes: 30 Dec 2019
City of London, London Competitive
Permanent & Full-time 112349BR_1575304360

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.

Role Synopsis:

The Accounting Policy Specialist role provides assurance on the application of accounting policy in IST, supporting and reporting to the IST Head of Accounting Policy. The role covers policy guidance and assurance for the IST Global Oil Europe (GOE), Global Oil Eastern Hemisphere (GOEH) and International Gas (IG) businesses.
The IST Accounting Policy team is responsible for establishing BP accounting policies that relate to IST in line with external reporting standards and providing advice and training within IST on the application of these policies. The IST Accounting Policy team also has a responsibility to provide a level of assurance to management that relevant accounting policies have been effectively applied. The team provides advice on all new business initiatives within IST and thus the role is an excellent opportunity to learn about a wide variety of IST activities and to work with a broad spectrum of people within the organisation.


  • Understand new business activities within GOE, GOEH and IG and provide advice on the accounting treatment of these transactions. 
  • Lead the provision of advice to Finance teams on the application of the Group Reporting Manual, in particular in relation to commodity contracts, derivative accounting, lease accounting, and working capital management. 
  • Conduct annual reviews for the various regions/businesses on the application of the Group Reporting Manual to routine and non-routine transactions. 
  • Assist with ensuring that the existing accounting policies within the GRM which specifically relate to IST are accurate and updated to reflect the current state of authoritative literature. 
  • Provide oversight to the year end submission of data for ARA/20-F disclosures of IST's activities. 
  • Stay abreast of emerging accounting literature, acting as a subject matter expert on new guidance affecting IST's business. Lead the implementation effort in respect of new accounting standards (IFRS 9, 15 and 16). 
  • Support the IST Head of Accounting Policy at the APDT and Due Diligence meetings, preparing and presenting on required updates and results. 
  • Liaise with other IST areas, including middle office, accounting and reporting, credit, and marketing and origination teams, in understanding IST operations and their impact on policy. 
  • Network with other Group accounting policy teams to share best practices and lessons learned, ensuring consistent application of policy across the group. 
  • Lead training on accounting policy matters to a variety of audiences.

Essential Experience:

  • Technically proficient in IFRS, especially on the application of IAS 39/IFRS 9 to energy trading commodity transactions.
  • Significant experience in a public accounting firm in relation to the application of IFRS or experience in the accounting for a
  • trading business, preferably commodities based.
  • The ability to construct and articulate a logical argument in applying accounting literature to a particular transaction, both orally and in writing.
  • An ability and interest in understanding the commercial justification and economics behind structured transactions.
  • Demonstrable experience of managing people.
  • Assertive, self-starter coupled with integrity, confidence, and credibility

Essential Education:

  • Qualified Accountant (ACA, CIMA, ACCA, or CPA )

Grade GResponsible for delivering accounting and reporting services, using advanced technical capabilities to ensure the integrity and effectiveness of accounting policy application, internal control, financial reporting, accounting systems support and delivery of end-to-end financial accounting processes, implementing continuous improvement plans and managing conformance to internal and external requirements.

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