Accounting Policy Manager

LondonSouth East
30 Oct 2016
15 Dec 2016
Oil and Gas
Contract Type
Full Time
Role synopsis
The Accounting Policy Manager role provides guidance and assurance on the application of accounting policy in IST, supporting and reporting to the IST Head of Accounting Policy as part of a small team. The role covers policy support and assurance over the IST Global Oil Europe (OE), Global Oil Eastern Hemisphere (EH) and International Gas (IG), as well as supporting some global projects.

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.

Key accountabilities
1. Understand new business activities within OE, EH and IG and provide advice on the accounting treatment of these transactions.

2. Provide advice to Finance teams on the application of the Group Reporting Manual, in particular in relation to commodity contracts, derivative accounting, leases and inventory accounting.

3. Participate in annual reviews for the various regions/businesses on the application of the Group Reporting Manual to routine and non-routine transactions.

4. 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.

5. Perform reviews of the year end submission of data for ARA/20-F disclosures of IST's activities.

6. Be aware of emerging accounting literature / new accounting standards, contribute to the implementation of new guidance affecting IST's business.

7. Support the IST Head of Accounting Policy and Assistant Head of Accounting Policy through the quarter-end Due Diligence process.

8. Liaise with other IST areas, including commodity risk, accounting and reporting, and trading managers and marketing and origination (M&O), in understanding IST operations and their impact on policy.

9. Interact with other Group accounting policy teams to share best practices and lessons learned, ensuring consistent application of policy across the group.

10. Participate in delivery of training on accounting policy matters to a variety of audiences.

Essential Education
Qualified Accountant (ACA, CIMA, ACCA, or CPA)

Essential experience and job requirements
1. Technically proficient in IFRS, especially on the application of IAS 39 to energy trading commodity transactions.

2. Experience in a large public accounting firm in relation to the application of IFRS, demonstrable experience of making accounting policy judgements, or experience in the accounting for a trading business, preferably commodities based.

3. The ability to construct and articulate a logical argument in applying accounting literature to a particular transaction.

4. An ability and interest in understanding the commercial justification and economics behind structured transactions.

5. Assertive, self-starter coupled with integrity, confidence, and credibility.

Other Requirements (e.g. Travel, Location)
There are no additional requirements.

Desirable criteria & qualifications
  1. Ability to generate financial reports from FBW.
  2. Understand BP/IST financial reporting concepts and terminology.

Relocation available

Travel required
Negligible travel

Is this a part time position?

About BP
Our business is the exploration, production, refining, trading and distribution of energy. This is what we do, and we do it on a truly global scale. BP operates with business activities and customers in more than 80 countries across six continents. Every day, we serve millions of customers around the world. We are continually looking for talented, committed and ambitious people to help us shape the face of energy for the future.

Integrated Supply & Trading (IST) is BP's face to the traded markets for BP in oil, gas, power, chemicals and finance. IST's role is to enhance Group value through distinctive supply, commodity trading, risk management and information technology skills underpinned by a world class finance, control and compliance infrastructure. IST has a dynamic and highly skilled workforce, which creates value by combining analysis and commercial innovation with the material asset base of BP.

IST Finance operates in support of IST's strategic objectives, helping it to achieve its aim of being the world's pre-eminent energy trader, in a controlled and compliant way. IST Finance is an integral function within BP's global oil and gas trading and supply activities. It is accountable for short term planning and for all financial and middle office control and reporting activities. It also ensures consistency and monitors compliance in processes and Operating Standards. IST Finance operates around 3 Global processes: Accounting & Reporting, Trade Completion and Product Control and operates seamlessly with the Risk function to support the business.

IST fosters a diverse and inclusive workplace for all employees. We are proud of our stance on fairness, equal opportunity and meritocracy, which focuses on all of our employees reaching their full potential.

Integrated Supply & Trading

Closing Date
[ "13-Dec-2016" ]