About the role
Balfour Beatty are currently looking for a Finance Manager to join our Investments team based in Newcastle upon Tyne on a 12 month fixed term contract.
As a Finance Manager you will:
With the support of the Head of Concession Finance, manage the financial affairs of a portfolio of Balfour Beatty Investments concession companies to optimize the value of investments, meet the IFRS and UK G P financial reporting requirements (to management, shareholders, clients and funders) and comply with statutory and regulatory obligations. As a line manager support, motivate and inspire the leadership and development of the Concession finance team.
What you'll be doing
You will have the following accountabilities:
- Review the financial and operational aspects of concessions in conjunction with the Head of Concession Finance and Concessions Services team to optimise the balance of risk and return to shareholders.
- Line management of Company Accountant to deliver Concession Finance services to a portfolio of schemes, including overview of and involvement with as necessary:
- Monthly concession company reporting packages and ad hoc information to the shareholders;
- Financial reporting systems and procedures;
- Financial modelling;
- Cash management;
- Sales and purchase ledger accounting;
- Financial aspects of insurance matters;
- Where relevant, accounting for the Balfour Beatty side of shareholder support arrangements;
- The conversion of UK G P accounts to IFRS and providing commentary for shareholder reporting purposes.
- Maintain detailed input to individual concessions as required supporting Company Accountants in line with risk appraisal and specific concession issues.
- Ensure the Company Accountants provide a clear audit trail and that supporting documentation and explanations are readily accessible. Ensure transactions are processed accurately by the Company Accountants.
- Reviewing concession management accounts and monitoring the activities and results of concessions and their performance against budget.
- Support Company Accountants on treasury issues, such as debt-draw downs, injections of funds by shareholders, banking arrangements and maximising deposit returns.
- Assist Company Accountants with the compliance aspects of the corporation tax affairs of each concession company and liaison with external auditors
- Reviewing the draft statutory accounts of concession companies, produced by the Company accountants, including the application and disclosure of technical accounting practices.
- Preparing and reviewing annual budgets and periodic forecasts of concession companies including the application of technical accounting calculations.
- Preparing and/or reviewing the maintenance and update of half yearly financial models for reporting to lenders and ensuring optimal distributions to shareholders.
- Maintain and enhance the systems of internal controls over accounting and other management systems through written financial policies and procedures.
- Fulfil the contractual obligations arising out of concession agreements and bank facility agreements.
- Assist the Project Finance team w.r.t equity sales and refinancing and other shareholder optimization of concession returns.
Who we're looking for
You will have the following skills & experience;
- Qualified to degree level (minimum of 2.1)
- Qualified accountant with significant experience
- Experience of PFI accounting
- Experience of working in PFI concessions
- Strong financial modelling experience
- Excellent technical accountant
- Capability of interpreting financial implications of complex contractual documentation
Why work for us
Day in, day out, our teams deliver amazing projects in challenging conditions; developing, managing and maintaining the vital infrastructure and public spaces that modern economies, societies and communities rely on.