Project Accountant

Job Description

Inch Cape is a 1080MW offshore wind farm situated 15km from the Angus coast in the North Sea. The power it generates will be transmitted 85 kilometres to a new substation at Cockenzie, in East Lothian from where it will enter the national transmission system. Inch Cape is a more than £3 billion infrastructure project that will make a significant contribution to the UK's carbon emissions reduction targets. Once complete its 72 turbines will generate enough electricity to power almost half the homes in Scotland.

We are seeking a highly skilled and detail-oriented Financial Accountant to join our finance team in ICOL. The ideal candidate will have a strong understanding of financial accounting principles, including IFRS and will be responsible for the preparation and analysis of financial reports, managing accounting operations, and ensuring compliance with regulatory and statutory requirements. The Financial Accountant will play a key role in maintaining accurate financial records, supporting audits, and contributing to strategic decision-making through financial insights.

Travels required: Mainly WFH with some travels to the Edinburgh office for meetings as and when required (around 2 -3 days a month)

Main office: Ground Floor New Clarendon 114-116 George Street EH2 4LH, Edinburgh

Working hours: Flexible times - Monday to Friday - 7.5h a day (normally between 8am and 6pm)

Responsibilities

General Accounting and monthly Financial Reporting

• Responsible for the general ledger functions, ensuring accurate and timely recording of all financial transactions in compliance with IFRS. Prepare and analyze monthly financial reports, including Balance Sheets, Profit and Loss statements and Management Accounts. Ensure timely reporting of financial information to the Financial Controller and shareholders.

Cash Flow Management

• Contribute to accurate cash flow forecasting, ensuring sufficient liquidity for project needs. Coordinate with internal teams to align financial planning with operational requirements.

Financial Compliance

• Ensure that financial statements and reports are prepared in accordance with IFRS. Review and maintain accounting policies to ensure ongoing compliance with IFRS and update them as needed based on new standards or regulatory changes.

Hedge Accounting under IFRS 9

• Manage hedge accounting for financial instruments such as FX forwards, interest rate swaps, and inflation swaps. Ensure compliance with IFRS 9 (Financial Instruments).

Lease Accounting under IFRS 16

• Responsible for lease accounting in accordance with IFRS 16 (Leases), including ensuring proper classification, measurement, and disclosure of leases in financial statements.

Loans Accounting under Project Finance

• Manage accounting for loans and facilities under project finance, including 5 facilities. Ensure proper accounting treatment of loan arrangements, interest accruals, repayments, and related financial transactions in accordance with IFRS.

Depreciation and Decommissioning Schedules

• Maintenance of depreciation schedules for fixed assets and ensure compliance with IFRS regarding asset impairment and depreciation. Prepare and manage decommissioning schedules as required by project specifications.

Tax and VAT Compliance

• Prepare and submit VAT returns and other tax-related filings in compliance with local tax laws. Ensure accurate reporting of tax provisions and collaborate with tax advisors to ensure timely and accurate filing.

Year-End Financial Reporting

• Prepare year-end financial statements in compliance with IFRS, ensuring proper documentation and support for external audits. Collaborate with auditors and provide necessary explanations and clarifications on financial data.

Audit and Internal Controls

• Actively participate in internal and external audits, providing necessary documentation and explanations as needed. Ensure the establishment and maintenance of effective internal controls to safeguard assets and ensure the accuracy of financial records.

ERP System & Processes

• Support the development of the ERP system and data migration and help implement controls to ensure the integrity of financial information.

Ad hoc

• Any ad hoc activities and cover for other team members as and when required.

Skills

• Proficient user of Excel
• Proficient with ERP systems - preferably SAP / Microsoft Dynamics
• Proficient user of IT Systems

Knowledge

• In depth understanding of IFRS, especially IAS 16, IAS 38, IFRS 16 and IFRS 9
• Experience of Project and Joint Venture requirements preferred but not essential
• Windfarm / renewables experience (desirable)

Qualifications

• Qualified professional accounting qualification
• Degree in a relevant subject (emphasis in accounting preferred)

If you wish to make a big impact in renewables and being involved in this innovative project do not hesitate to apply.

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