Management Accountant

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.

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.

• 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.

Base location: Hybrid - Clearwater Court, Reading

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 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 a range of benefits to support health, wellbeing and finances, including annual health MOTs, physiotherapy and counselling, Cycle to Work schemes, shopping vouchers and life assurance.

Find out more about our benefits and perks.

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 and skilled people, committed to making a difference and getting us to where we want to be in the years and decades to come.

We’re committed to being a great, diverse and inclusive place to work. We welcome applications from everyone and want to ensure you feel supported throughout the recruitment process. If you need any adjustments, whether that’s extra time, accessible formats or anything else, just let us know. We’re here to help and support.

When a crisis happens, we all rally to support our customers. As part of Team Thames, you’ll have the opportunity to sign up to support our customers on the frontline as an ambassador. Full training will be given for an incredibly rewarding experience. It’s also a great opportunity to learn more about our business and meet colleagues.

Disclaimer
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Due to the high volume of applications we receive, we may close the advert earlier than the advertised date, so we encourage you to apply as soon as possible to avoid disappointment.