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Finance Manager - Grangemouth

INEOS - Finance
Ref: 887 Date Posted: Tuesday 06 Aug 2019
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O&P UK Finance Manager 



A truly global company, INEOS is one of the largest chemical companies in the world with 65 sites across 16 countries and net revenues of around $60bn. Grangemouth is INEOS’ largest manufacturing site and is home to an Ethylene Cracker and other major petrochemical processing plants as well as Scotland’s only crude oil refinery and the North Sea Forties Pipeline Kinneil terminal. The Grangemouth site also has two Gas Power Stations onsite capable of producing steam, power and electricity.

This is an exciting time to join the O&P UK team as we consolidate the benefits of recent significant investment, which has transformed the business over the last few years. We require a Finance Manager with relevant experience to play a key role in the delivery and support of this growth in our business.

Reporting directly into the Financial Controller the successful candidate will take a lead role managing all of the financials for the Olefins & Ethanol manufacturing plants. The role will also have accountability for the O&P UK 13-week cash forecast process along with all working capital analysis. The successful candidate will also have accountability for a major financial capital investment business case, ensuring key appraisal data such as NPV, IRR, Payback and sensitivity analysis are accurate and well understood across the business.

Principal Accountabilities

Accountability 1:  Financial and Management Information for Decisions

Produce high quality, relevant management reporting information and KPI understanding. Explain the results to the Business Manager and enable them to provide commentary to the O&P UK Board and make correct business decisions. Present the results to the O&P UK CFO and the O&P UK Financial Controller on a monthly basis. Provide high quality business analysis to alert senior managers to potential deviations from strategic financial objectives and work with them to ensure corrective action is taken by proactively making improvement recommendations.  Manage & take accountability for the full set of accounts including profit & loss accounts, balance sheet and cashflow through to working capital % of turnover.

Accountability 2:  Strategic and Operational Financial Planning

Lead the annual planning of the budget and 5-year strategic plan process to ensure the production of an accurate annual plan that has been clearly explained and analyzed and therefore has full “buy in” from the Business Manager.  Create, communicate and monitor an effective timetable across multiple stakeholders to ensure all deliverables are achieved in a timely manner. Translate the annual budget and 5-year strategy into financial and non-financial targets to ensure that the plan can be monitored at all levels.

Accountability 3:  Forecasting

Lead the multi-stakeholder process to produce the monthly financial forecast and provide the Business Manager with the latest view on the predicted results for the year and/or next 3 months for EBITDA, Cash and Working Capital % of Turnover. Create, communicate and monitor an effective timetable to ensure all deliverables are achieved in a timely manner.  Review and challenge the forecast inputs provided by functional managers to ensure the accuracy and integrity of the forecast and to improve the forecast accuracy. Clearly articulate the major variances in the forecast to the Business Manager and O&P UK Financial Controller along with proposing a range of recommendations to correct any adverse variances back to plan.

Accountability 4:  Financial Control and Integrity of Monthly Results

Develop a robust control environment by proactively identifying financial and business control issues, implementing internal control processes, reviewing compliance with such processes and the O&P UK delegation of authority.  Review the monthly results to ensure their accuracy, integrity, transparency and compliance with UK GAAP & INEOS guidelines. Support all external audit and covenant requirements as requested by the O&P UK Financial Controller. Evaluate the impact of any new accounting standards and implement changes to the financial statements as and when required. Ensure all existing working procedures are documented with clear how to guides and that effective business continuity plans are in place for the role.

Accountability 5:  Process Improvements and Projects

Develop and maintain an approach of continuous improvement to financial management and business process issues to ensure maximum value is added to business decision-making processes. Take a lead role by implementing major business process improvements assigned by the O&P UK Financial Controller and standardize best practice across the FC&A team. This part of the role will involve an element of project management and cross-functional stakeholder engagement.

Accountability 6:  Cash Forecasting & Working Capital

Lead the 13-week cash forecasting process for multiple businesses. Identify opportunities to improve the process and increase understanding of the forecast. Provide insightful commentary to help the Financial Controller explain to the Board the main drivers of cash flow in the business. Work with commercial, operations, accounts receivable, accounts payable and treasury colleagues to ensure the forecast is aligned with the latest view of results. Via a direct report, prepare a rolling 3-month working capital forecast for O&P UK and identify opportunities to improve the process and increase understanding of the forecast.

Accountability 7:  Major Financial Business Case Appraisal

Ensure all major & strategic capital investments are appraised in an effective manor through the creation and maintenance of major business case financial modelling. Ensure key capital appraisal data such as NPV, IRR, Payback and sensitivity analysis are accurate and well understood across the business. Advise and implement accounting treatment for new business activities and transactions

Special Features

  • The role has a strong dotted line relationship to the Olefins & Ethanol Commercial Business Manager with particular emphasis on business partnering by being the first point of call for all financial issues within the business area.
  • The role has two direct reports and therefore includes people management responsibilities such as objective setting, performance appraisals (mid and full year), performance management and setting individual development plans.

Qualifications, Knowledge and Skills

Qualifications and Experience

  • Fully qualified accountant with minimum 2 years post qualified experience
  • Exposure to management accounting and analysis
  • Experience working in an international manufacturing company preferred

Technical Skills

  • Good knowledge of accounting control procedures
  • Strong commercial and analytical skills
  • Ability to identify accounting issues that arise and ensure correct treatment
  • Analytical mindset and problem solving approach
  • System knowledge and experience – SAP, Microsoft Excel, PowerPoint, Word. Macro capability would be a distinct advantage. Expert in use of Microsoft Excel – vlookup, pivot tables, offset match.


  • Strong resilience: ability to work productively when under pressure, meet tight deadlines
  • Good interpersonal, communication and people management skills with the ability to communicate technical accounting principles to non-accountants
  • Ability to develop direct reports
  • Ability to deliver projects using a logical and well planned approach
  • Energetic, enthusiastic, self-motivated and results oriented personality
  • Ability to prioritize & comfortable working with ambiguity in a dynamic environment
  • Customer focused
  • Comfortable working with Financial I.T systems