This job has expired

Compensation Accountant

BGC Partners
London, United Kingdom
Competitive Salary
Closing date
Feb 13, 2024

View more

Job Role
Contract Type
Full Time
Main purpose of the role:

To assist the Compensation Accounting Manager to undertake all aspects of LLP share based accounting under US and UK GAAP primarily within the Newmark (NKF) and Cantor operations in the UK.

They shall also fully support the UK Financial Controllers of NKF and Cantor on all other aspects of LLP partners accounting such as managing and accounting for profits allocated to partners, partners capital contribution and working closely with the Tax team with regards to taxes withheld from the various sources of income paid to partners.

The successful candidate shall make an important contribution to the continued development of the Finance and Tax functions whilst constantly raising the bar in terms of quality and control. The role is varied and involves working closely with various members of the wider Finance team, the Partnership Tax team and with other departments such as HR, US Partnership and the Front Office Business Managers.



  • Profit Allocation and Tax withholding accounts (held on behalf of members)
  • Work with UK Financial Controllers to review withholding tax accounts by partner byyear. This includes reconciling tax withheld to accounting profits allocated to eachpartner ensuring integrity of confidential name information at all times.
  • Work closely with the tax team to track the release of tax withheld to pay a partner tax liability to HMRC.
  • Share Based Accounting
  • Undertake detailed share-based accounting relating to the LLP partners under both US and UK GAAP including sale of equity for the UK statutory accounts.
  • Undertake quarterly reconciliation of LLP related shares awarded/outstanding per Partnership data against underlying accounting records.
  • Help prepare relevant files for Payroll to allow processing and recognition of taxable events surrounding award and sale of partners share awards.
  • Help prepare relevant forecasts (cashflow and amortisation) for local and group reporting purposes
  • Partner loan accounting process
  • Work with other members in the Finance function to have a comprehensive understanding of all partner related loan balances including recovery plans.
  • Ensure timely review of leaver forms for members leaving the LLP with outstanding loan balances and the potential impact on profit allocation and taxes withheld.
  • Partner capital
  • Maintain LLP member capital accounts by member, by source, offline and reconcile monthly to the Partner Capital accounts in the GL.
  • Manage all reporting thereof, including the development and reporting of members capital in the Oracle Partnership portal.
  • Main liaison with external bank dealing with the LLP and related member capital loans (working with another team member in the Partnership Accounting team).
  • Liaison with Partnership Tax team (no prior tax knowledge required)
  • Monitor compliance of ‘Salaried Member rules’ on a monthly basis.
  • Finance liaison for the external tax advisers and the internal tax team for LLP member return preparation.
  • Work closely with Partnership Tax team to reconcile and report on a timely basis all profit allocations and tax liabilities
  • LLP Financials
  • Work closely with relevant stakeholders namely HR, Business Managers, PartnershipTax and Financial Reporting to ensure all reporting requirements are completed on atimely basis.
  • Undertake monthly analytical review of relevant GL balances.
  • Assist auditors through timely delivery of files and responses to any queries.
  • Identify and implement improvements within LLP Accounting processes through development and concise documentation of policies and procedures.
  • Ad hoc support
  • Support Compensation Accounting Manager, Financial Controllers and UK Head ofTax on ad-hoc issues.

Skills / experience required

The successful candidate should be a qualified accountant or qualified by experience preferably within the UK financial services industry and should be able to demonstrate:
  • A basic understanding of UK personal tax together with reporting requirements would be preferable.
  • Previous Compensation and Payroll Accounting experience especially within Limited Liability Partnership would be advantageous.
  • Excellent understanding of double-entry bookkeeping.
  • A strong academic background and good career progression to date.
  • An understanding of Share Based Accounting would be preferable.
  • A control mentality coupled with excellent accounting, analytical and reporting skills.
  • Ability to meet deadlines, organise and prioritise.
  • Good written and verbal communication skills with the ability to interact with stakeholders throughout the Group with view to developing and maintaining strong relationships.
  • Possess a pro-active attitude with an ability to take responsibility.
  • Strong attention to detail.
  • Supervisory skills would be advantageous.

Systems Used:
  • Strong MS Excel skills.
  • Prior experience with Essbase and Oracle General Ledger preferable.
  • Other Microsoft Office applications.

Personal Attributes:
  • The successful candidate will require excellent personal presentation and have confidenceoperating in a competitive work-environment and can handle challenging situationssensitively.
  • Proactive and adaptable, able to work well under pressure.
  • Ability to evaluate issues and situations to enable timely decision making with little need for upward reference whilst escalating matters as necessary on a timely basis.
  • Self-starter unafraid to ask questions and seek answers.
  • Willing to take ownership, work without close supervision while also being a team player.
  • Able to use judgement to challenge the status quo and implement changes to improve processes.

Get job alerts

Create a job alert and receive personalized job recommendations straight to your inbox.

Create alert