Financial Accountant

Job summary

We are Ofwat, the Water Services Regulation Authority, a non-ministerial government department responsible for regulating the water sector in England and Wales.

We have an opportunity for a Financial Accountant to join our Finance Team within Corporate Enablers Directorate.

The water sector is entering a new chapter. The government has set out a bold new direction, bringing together expertise from across the sector to deliver better outcomes for customers and the environment. We are collaborating with fellow regulators to respond to recommendations in The Independent Water Commission Report, the Welsh Government’s response to the Green Paper, Shaping the Future of Water Governance in Wales, and the Government’s White Paper, A new vision for water.

Ofwat is working with the government and other regulators to help create a new body for England, bringing together our strengths with those of the Drinking Water Inspectorate, the Environment Agency and Natural England. We are also continuing to work with the Welsh Government to support decisions on the future arrangements for Wales.

While these changes take shape, our mission remains the same: to hold water companies to account, drive performance, and ensure the sector delivers real value for customers, communities, and the environment. If you’re passionate about making a difference, this is a unique moment to join us and help shape the future of water, and together we can continue to make a positive impact.

You can find out more about why you should join Ofwat, our strategy, values and our framework for success in the attached Information for Candidates Pack.

Job description

We are seeking a skilled and detail-oriented finance professional to join our team as a Financial Accountant. You'll play a vital part in ensuring the accuracy, integrity, and compliance of our financial reporting and operations.

You will be responsible for preparing Ofwat’s financial statements and act as a key liaison with external auditors, facilitating a smooth audit process to ensure timely publication of the Annual Report and Accounts. Additionally, you will prepare the Whole of Government Accounts (WGA) and contribute to the Main Estimate and Supplementary Estimate submissions.

As a subject matter expert, you will provide technical accounting advice in line with International Financial Reporting Standards, (IFRS), the Financial Reporting Manual (FReM), and other relevant Government guidance documents. Your expertise will be crucial in managing the day-to-day operations of the accounts payable and accounts receivable functions, including oversight of the team and ensuring timely completion of reconciliations and statutory and transparency returns.

Key deliverables:

In this role you will be expected to:

• Financial Reporting and Control
  • Lead the preparation of monthly and annual financial reporting, ensuring compliance with IFRS, FReM, HM Treasury guidance and other statutory requirements.
  • Review key accounting entries, reconciliations, accruals and prepayments, ensuring the integrity of the general ledger and financial controls.
  • Support the year-end audit process and coordinate responses to audit recommendations.
• Financial Systems and Process Improvement
  • Act as the Finance Subject Matter Expert for Oracle Fusion ERP and promote effective system use across the finance function.
  • Identify and implement opportunities to improve reporting, controls, workflows and automation through better utilisation of Oracle functionality.
  • Support system enhancements, testing and transformation activities, working collaboratively with IT, support providers and business stakeholders.
• Process Ownership and Operational Excellence
  • Own and continually improve end-to-end financial accounting processes, ensuring they are efficient, documented and fit for purpose.
  • Lead the identification and resolution of process inefficiencies, control weaknesses and recurring issues.
  • Drive continuous improvement initiatives that enhance service delivery, reduce risk and improve operational efficiency.
• Team Development and Governance
  • Provide technical leadership, coaching and support to colleagues within the financial accounting team.
  • Maintain effective process documentation and knowledge-sharing arrangements to support business continuity and team resilience.
  • Promote a culture of accountability, learning and continuous improvement whilst ensuring compliance with financial policies and governance requirements

Person specification

To be successful in this role you will need the below essential attributes, experience, skills and knowledge:

Experience, skills and knowledge

1. Lead Criterion 1: Strong technical accounting knowledge, including IFRS and public sector reporting frameworks, with experience preparing statutory reporting and supporting audits.
2. Lead Criterion 2: Strong experience of ERP systems, preferably Oracle Fusion Cloud, including financial reporting, reconciliations, process improvement, system optimisation and the implementation of automated solutions to improve efficiency and strengthen financial controls.
3. Strong analytical and problem-solving skills, with the ability to interpret complex financial, operational and systems information, challenge constructively, and identify practical solutions.
4. Strong stakeholder management skills, with the ability to translate technical accounting and systems information into clear, practical business solutions for a range of audiences.
5. Experience of coaching, mentoring and developing colleagues, including onboarding, knowledge sharing and building team capability within a collaborative and continuous improvement environment.
6. Fully qualified accountant (ACA, ACCA, CIMA or CIPFA) with significant post-qualification experience within financial accounting, audit and financial control.

Attributes

7. You deliver outcomes
8. You build trust
9. You promote collaboration

Attributes as per Ofwat's Framework for Success for the relevant salary grade. You can read more about Attributes here.

Qualifications

Benefits

Why You Should Join Us:

Our people are at the heart of Ofwat, and our People Strategy defines the goals that keep this focus central to everything we do. Our 2025 People Survey highlights several key strengths. Nine in ten colleagues say that they are treated with respect and that Ofwat values individual differences. The same proportion say that their work is meaningful and that the