Group Financial Accountant
The Group Financial Accountant helps to ensure that statutory and other external reporting requirements are met and that the Group complies with generally accepted accounting standards and practices.
- Prepare and coordinate the year end Group accounts and Annual Review process, liaising with the business and key stakeholders to ensure reporting deadlines are met;
- Be the main point of contact for technical queries across the business, determining the accounting impact of commercial decisions. This includes the following:
- Revenue recognition queries;
- Investments queries including control assessments and acquisition accounting;
- Impact of business restructuring;
- Opex vs capex, intangibles;
- Foreign exchange, financial instruments.
- Providing training to the wider finance community as accounting guidance evolves;
- Responsibility for accounting and reporting for a number of centrally managed areas including reporting on distributable reserves, financial instruments and foreign exchange gains and losses;
- Overseeing reconciliations of various group balances performed in a wider-group central function offsite;
- Overseeing the preparation of UK subsidiary accounts, as well as reviewing the accounts of various overseas subsidiaries;
- Liaise with external auditors to discuss and resolve queries as they arise and ensure a smooth audit process;
- Stay abreast of changes in accounting standards and conduct impact review of new IFRSs, e.g. IFRS 15 and 16;
- Work alongside the Financial Accounting Manager to maintain accounting policies across the Group;
- Other ad hoc work as may be requested by the Financial Accounting Manager.
Scope & Impact
- BBC Worldwide's Group Finance team manages all aspects of the consolidation and reporting of the Group's results, both to the Broad and externally
- The Group Financial Accounting team consist of the Group Financial Accounting manager, and 2-3 Group Financial Accountants. This team is responsible for external reporting and technical accounting, setting accounting policy and best practice procedures across the Group, providing technical advice to operational teams and assisting in major non-routine transactions.
- Reporting to the Financial Accounting Manager, the Group Financial Accountant works closely with the finance community, including the wider Group Finance team, BBCW’s regions and central functions, as well as the legal and FP&A teams on technical and commercial accounting matters. The role also involves overseeing the group’s subsidiary accounts process, and preparing various reconciliations and providing some input into the monthly management accounts process.
Key measures for this role include:
- Delivery of timely and accurate statutory reporting;
- Number of adjustments identified by the external auditors during the audit process;
- Provision of robust technical accounting advice, having regard to commercial implications;
- The extent to which existing processes can be streamlined and delivered more efficiently.
Strategic Planning & Decision Making
- The Group Financial Accountant will have an awareness of the commercial impact of accounting decisions and the ability to identify pragmatic solutions to complex accounting issues.
- The ability to plan and manage personal workloads in order to meet tight deadlines is essential.
- The Group Financial Accountant will work closely with a wide range of stakeholders throughout the finance community.
- Key relationships will include Regional Financial Controllers and Finance Managers, Company Secretarial and the BBC public service treasury team. The role will also liaise with the Communications team to coordinate the Group’s Annual Review.
The Ideal Candidate
Knowledge & Skills
- Excellent awareness of current and prospective technical accounting and reporting requirements under both IFRS and FRS 101/102 and the ability to apply these requirements in a pragmatic and commercial manner
- Solid understanding of consolidation principles in an international group, including an awareness of the impact of foreign exchange on trading performance;
- Practical knowledge and understanding of treasury operations and financial instruments;
- Proficiency working with and preparing primary statements from source data including a good understanding of how to prepare a cash flow statement;
- Good grasp of revenue recognition principles and familiarity with their application in the media industry;
- Proactive and self-motivated with the genuine drive and commitment to improve the effectiveness of reporting processes;
- Confident and flexible team player with the ability to communicate clearly at all levels;
- Good spreadsheet and IT skills (prior experience of using SAP would be an advantage, but training will be given as required).
- Qualified accountant, ideally with some post qualification experience
- Excellent academic record
- Experience of statutory financial reporting and consolidation in a complex multinational organisation obtained either through industry or practice
- Experience of working with listed groups and/or public interest entities
- Relevant exposure to complex accounting issues
- A genuine interest in the Entertainment & Media sector
About the Company
The BBC is committed to building a culturally diverse workforce and therefore strongly encourages applications from underrepresented groups. We are committed to equality of opportunity and welcome applications from individuals, regardless of their background.
BBC Worldwide Limited is the main commercial arm and a wholly owned subsidiary of the BBC. BBC Worldwide exists to support the BBC public service mission and to maximise profits on its behalf. It does this through investing in; commercialising and showcasing content from the BBC in the UK and around the world, In 2015/16, BBC Worldwide generated headline profits of £133.8M and headline sales of £1,029.4M and returned £222.2M to the BBC. Comprised predominantly of the non-English speaking world, our Global Markets business encompasses Western Europe, Central and Eastern Europe, Middle East and Africa (CEMA), Asia and Latin America. Business activities range from TV sales and channel operation to production and intellectual property exploitation, Commerce.