Management Accountant

Job title Management Accountant  Division Finance & Commercial Location Hybrid - Clearwater Court - RG1 8DB
Contract type Permanent Full/Part-time Full-time Salary Up to £70,000 per annum, depending on experience Job grade B Closing date 29/01/2026

At Thames Water, every role plays a part in protecting water resources, supporting our communities and helping to build a sustainable future. Our Finance teams are at the heart of this mission - providing insight, challenge and assurance so we can deliver vital infrastructure safely, efficiently and responsibly.

We’re looking for a Management Accountant - Capital Delivery (Waste) to join our AO&CD Financial Control team, supporting one of the largest and most complex capital delivery programmes in the UK.

Reporting to the Capital Delivery Finance Manager
, you’ll play a key role in owning and delivering accurate, insightful financial reporting for our Waste Capital Delivery portfolio. You’ll lead the month-end close, provide assurance over the numbers and translate financial data into meaningful insight for operational and senior stakeholders.

You will:

• Lead the financial period close for capital income and project costs (Capex and Opex), ensuring robust controls and timely delivery.
• Provide clear financial insight and commentary on performance, run rates, efficiencies and variances, linking cost to operational delivery.
• Work closely with the Project Management Office and Project Managers to support Capex/Opex determinations and improve end-to-end processes.
• Monitor project performance
  , investigate cost movements and drive fixes at source.
• Ensure capital recharges are accurate, compliant and deliver value for money as we move towards a Totex view of costs.
• Prepare and review regulatory accounting returns and judgement papers (including Pain/Gain and accelerated depreciation) for Ofwat.
• Review the fixed asset register
  , identifying assets for write-off or accelerated depreciation.
• Support external audits
  , responding to queries and providing clear, well-documented analysis.
• Drive continuous improvement
  , reviewing accounting activities, improving processes and embedding consistency across Finance.
• Provide ad-hoc analysis and insight to support business cases, cost visibility and decision making.

Working pattern: 36 hours, Monday to Friday

We’re looking for a fully qualified accountant with strong capital accounting experience, who enjoys working in a complex, delivery-focused environment and can confidently engage with both finance and non-finance stakeholders.

• Fully qualified accountant (ACA, CIMA, ACCA, CPA, CMA, CHAE or equivalent).
• Strong capital accounting experience
  , including Capex/Opex judgement.
• Excellent knowledge of IFRS and financial statements.
• Proven understanding of accounting principles, systems and controls.
• Experience using SAP and/or HFM
  .
• Ability to analyse large volumes of data, ask the right questions and make sound decisions.
• Strong communication skills, with the ability to explain financial concepts to non-financial audiences.
• Project or Capital Delivery experience.
• Experience in a regulated environment
  , utilities or construction.
• Exposure to SAP SAC and advanced reporting tools.

• Competitive salary up to £70,000 per annum, depending on experience
• Annual Leave - 26 days holiday per year, increasing to 30 with the length of service (plus bank holidays)
• Performance-related pay plan directly linked to company performance measures and targets
• Generous Pension Scheme through AON
• Access to lots of benefits to help you take care of you and your family’s health and wellbeing, and your finances – from annual health MOTs and access to physiotherapy and counselling, to Cycle to Work schemes, shopping vouchers and life assurance.

We’re the UK’s largest water and wastewater company, with more than 16 million customers relying on us every day to supply water for their taps and toilets. We want to build a better future for all, helping our customers, communities, people, and the planet to thrive. It’s a big job and we’ve got a long way to go, so we need help from passionate…