Business & Commercial Acumen
Develops deep understanding of business operations, the commercial landscape and external market factors. Builds credibility
and connectivity across the business. Combines strong commercial awareness with financial expertise to influence stakeholders
and maximise shareholder value.
Level 1
Understanding
Understands the mechanics
Summary
of the business including
the key commercial drivers
 Understands the
fundamental areas of the
business (e.g. refinery
operations, manufacturing
processes, supply chain
economics) and has an
appreciation of market
dynamics and BP’s
competitive strategy.
 Aware of the key
commercial drivers across
the business (e.g. profit
drivers, pricing
mechanisms, competitor
activity)
 Articulates the sources of
value in a business or
project
 Understands the different
teams and stakeholders that
Downstream Finance
engages with (e.g. refinery
operations, business
development, HSSE, legal ,
sales teams and other parts
of Finance including GBS).
Level 2
Basic Application
Applies knowledge of the
business (markets, customers,
supply) to develop and
communicate an integrated
view of business performance
 Understands the business
drivers and translates into how
profit is made, lost and
maximised within the industry
 Understands and provides
insight on how changes in
strategy and tactics (including
channels of trade, customer
base), will impact financial
decisions (e.g. impact of
customer profile on cash flow)
 Responds to ambiguity by
exploring data and asking
questions (e.g. investigates
how changes in the supply
chain have impacted results)
 Articulates technical principles,
concepts and knock on
implications in a way that
other business stakeholders
understand
 Applies curiosity to become
truly conversant in the
activities of the business and
actively seeks technical
expertise from all sources to
support value delivery (e.g.
policy specialists, Tax,
Treasury).
Level 3
Skilful Application
Utilises deep understanding of
business operations and commercial
factors to support decision-making
 Applies deep understanding of
commercial drivers, their
interdependencies and how the
business operates
 Understands external and competitive
environment, how global product
markets work (e.g. including which
markets are short or long and what
the drivers behind these market
dynamics are) and BP's relative
positioning
 Supports commercial decision-making
through insightful questioning, and
challenging insight (e.g. supports
contract negotiations by exploring
commercial risk, financial exposure,
contractual obligations etc)
 Combines commercial understanding
and financial expertise to bring
attention to issues which aren’t
transparent from a purely financial or
operational perspective (e.g.
proactively shares technical
accounting or group reporting
implications)
 Engages and builds strong networks
across the business to understand
drivers, current climate and operations
impacts . Builds credibility and is
actively consulted to provide advice
and appropriate challenge.
Level 4
Master Application
Acts as a trusted advisor /
integrated business partner and
coaches & challenges Finance
staff to deepen business
understanding
 Coaches and challenges others
to deepen their business
understanding and apply
financial expertise effectively
(e.g. upholds policy whilst
bringing flexibility and insight)
 Applies in depth commercial
understanding to act as
business partner and integrator,
while ensuring financial
considerations are at the heart
of shaping decision-making
 Challenges others to anticipate
business needs and respond
flexibly (e.g. to consider the
priorities and mindset of
stakeholders) in complex, cross
business /function or geography
situations.
 Anticipates and actively
responds to business change
and provides guidance to both
Finance and other business
stakeholders (e.g. in responding
to the implications of a major
outage)
 Builds and maintains excellent
networks and creates
opportunities to connect across
the business (e.g. attends cross-
functional meetings, connects
across countries and
businesses.
Level 5
Expert
Articulates a clear vision and
expectations for how Finance
will partner with the business
 Creates strategies and
partnerships to encourage
Finance to develop operational
and business knowledge (e.g.
creates secondments or rotation
opportunities)
 Applies leading commercial
insight to support decision-
making (e.g. applies experience
of pricing strategies and
influencing skills to partner with
Sales Team to improve
profitability)
 Drives a culture and ethos of a
truly ‘embedded’ function
integral to the business and
removes barriers to connectivity
(e.g. structures teams to ensure
closeness to the business,
ensures access to information)
 Leads the integration of diverse
teams across the SPU /
Function, bringing them
together to optimise business
performance.
1
Compliance & Control
Creates a strong compliance and control culture. Establishes and embeds effective internal controls that support compliance
and drive strong financial discipline. Ensures analysis is subject to adequate verification, complies with legal and technical
requirements and ensures the integrity of the financial and ethical control environment as a whole.
Level 1
Understanding
Demonstrates basic awareness
of BP risk policies and relevant
Summary
external regulation and the
impact of non-compliance on
financial or reputational
damage
 Demonstrates awareness of the
internal control environment
(e.g. Group Control Manual
(GCM), Control Objective
Requirements and Examples
(COREs) Practice, the Quarterly
Analytical Review Practice,
the Balance Sheet Integrity
Practice, Due Diligence and BP
Code of Conduct and Values)
and the key external standards
and frameworks (e.g. IFRS,
SOX, non-GAAP accounting
policies)
 Understands the importance of
accurate information and
balance sheet integrity and the
appropriate verifications needed
to ensure the single version of
the truth is robustly presented
for business decisions
 Understands the relevant
controls and processes used
(e.g. internal and external audit
processes, systems controls
and safeguards)
 Identifies weaknesses or non-
compliance issues in own area
of work and escalates where
appropriate.
Level 2
Basic Application
Applies fundamental
knowledge of all relevant risk
policies to safeguard against
non-compliance and violations
 Applies knowledge of specific
policies including Group
accounting policies as outlined
in the Group Reporting Manual
(GRM) and GCM to ensure
compliance
 Actively updates regulatory and
compliance knowledge (e.g.
attends conferences, subscribes
to news alerts) and understands
the impacts on the business
 Applies control frameworks to
business processes and
supports improvement as
required to ensure ethical and
financial integrity
 Actively identifies requirements
for additional process and
systems controls, and escalates
or responds appropriately (e.g.
responds to mistakes in Excel
models, adds database/SAP
violation controls)
 Challenges non-compliance or
areas of weakness identified
and investigates route cause
(e.g. recognises the appropriate
questions to ask).
Level 3
Skilful Application
Ensures effective controls are in
place and actively drives
compliance to ensure the
robust control environment is
maintained
 References standards and
policies to provide justifications
for decisions or actions (e.g. to
the Commercial team or
external auditors)
 Actively checks and monitors
ethical and financial compliance
and identifies and mitigates
policy risks
 Proposes and co-ordinates
corrective action plans for gaps
 Applies in depth knowledge of
controls to lead the
development , implementation
and monitoring of the control
framework, proactively revisiting
and testing controls for
effectiveness, driving robust
interfaces and ensuring
appropriate DoAs are in place
 Actively seeks out, identifies
and challenges non-compliance
and pre-empts and responds to
potential opportunities to bypass
controls to reduce control and
compliance threats.
Level 4
Master Application
Leads the development,
interpretation and communication
of the control and compliance
framework
 Engages with and influences other
business stakeholders to build
capability, incorporating standards
and practices into business activity,
and translating non-compliance into
business outcomes (e.g. leads
local training, shares learning with
other sites).
 Interprets applicable external
accounting standards and
regulatory requirements
 Integrates requirements and
perspectives from multiple
stakeholders to create a balanced
view of how to ensure compliance
 Ensures that controls are in place
for all activities and employs tools
to track and influence behaviours to
ensures compliance with BP
Standards and practices (e.g.
balance sheet integrity standards ,
anti-corruption due diligence and
anti-money laundering)
 Brings best practice knowledge
and refinements to the ongoing
update of the controls framework
and compliance cycle
 Resolves material and complex
control dilemmas.
Level 5
Expert
Drives the control agenda
and promotes best practice
across the Segment or
Group
 Promotes a cross-functional
risk culture to ensure
understanding of and
compliance with Group
policies (e.g. engages Legal,
audit, tax, GBS) and
safeguard against financial or
reputational damage
 Proposes compliant Group
accounting and control
polices and application
guidance for approval and
recording in the GRM
 Acts as custodian of the
financial integrity process to
promote robust end to end
processes and interfaces
with other disciplines
 Accountable for the controls
environment and ongoing
compliance management
programme for the whole of
Downstream
 Articulates to the wider
organisation the impact of
behaviour that detracts from
the effective management of
risks to influence behaviour.
2
Credit Management
Support delivery of business goals through optimisation of the balance between credit risk and reward. Conducts diligent
investigations of customer repayment using evaluating tools and business judgement.
Level 1
Understanding
Demonstrates basic
understanding of Credit
Summary
Management principles and the
impact of credit decisions on
business performance
 Understands the key principles
of the credit risk and reward
strategy
 Understands the potential
sources of credit risk and the
approaches used to calculate
exposure (e.g. peak exposure
for common transactions)
 Understands the basics of credit
processes including managing
exposure (mitigations) and debt
(e.g. understands the process
steps, different accountabilities,
underlying principles)
 Demonstrates understanding of
credit risk management
principles and policies and the
importance of compliance (e.g.
rating customers, setting credit
limits, need for credit risk
mitigation).
Level 2
Basic Application
Applies fundamental
knowledge of credit
management to evaluate risk
and guide decisions. Assesses
risk of small / medium
customers
 Demonstrates compliance with
the credit risk and reward
strategy of the SPU/BU (e.g.
assigns ratings and limits for
small /medium sized customers,
applies rating scorecards and
limit formulae)
 Contributes to effective and
accurate measurement of credit
risk (e.g. calculates peak
exposure for complex payment
terms (periodic payment),
understands risk transfers
between subs and parent
companies)
 Applies understanding of
systems and rules to monitor
transactions and manage debt
(e.g. no additional order if it
leads to excess exposure,
identifies payments received not
yet matched)
 Manages and co-ordinates
interfaces with GBS and the
sales teams
 Applies understanding of Group
Credit Standard and local credit
procedures (e.g. across
interfaces with GBS).
Level 3
Skilful Application
Applies deep business,
customer and credit knowledge
to manage credit risk and
enable business performance
 Applies detailed knowledge of
financial and non-financial
factors (e.g. liquidity, cash flow,
customer history, working
capital levels ) combined with
business and industry
understanding to assess credit
risk and guide decisions
 Actively modifies credit terms
to manage risk and reward,
working in close partnership
with GBS, sales and other
stakeholders
 Builds relationships and
negotiates with small / medium
sized customers
 Demonstrates deep
understanding of potential
sources of risk for long-term
contracts and applies
knowledge of mitigation options
(e.g. Parent Company
Guarantees, Letters of Credit).
 Applies sound judgement of risk
and business criticality to
manage excess exposure and/or
overdues (e.g. stop trade, set
repayment plan, escalate if
required).
Level 4
Master Application
Applies leading credit expertise
and business understanding
and engages stakeholders to
drive SPU credit strategy.
Assesses risk of major / global
customers
 Combines in depth knowledge
of local businesses, market and
strategy with balanced
judgement to define credit risk
and reward strategy to guide
case by case activity (e.g.
defines credit limit framework)
 Builds enduring relationships
and negotiates with major /
global customers to set / review
credit limit, make and amend
credit offers
 Defines appropriate types of
exposure mitigation and creates
segment rules for calculating
net exposure
 Sets effective rules and metrics
that help manage excess
exposure
 Reviews credit decisions across
the SPU, gathers learning and
leads continuous improvement
across organisations
 Builds capability and identifies
and addresses barriers to good
practice throughout the end to
end process.
Level 5
Expert
Leads the credit agenda and
identifies and embeds best
practice. Engages subject
experts to provide guidance on
complex or risky exposures
 Leads and ensures consistent
application of the credit risk and
reward strategy across the SPU
and guides complex mitigation
decisions (e.g. engages subject
matter experts, such as Legal,
IST, Treasury, to guide large,
risky exposures)
 Influences business
stakeholders to embed risk
within strategic decision-making
 Engages and coaches others to
set and adjust Credit Risk
Control requirements for the
SPU/BU in view of business &
risk strategy and capability
 Designs and drives segment
wide credit performance
framework .Identifies trends,
reports key messages to
stakeholders and sets targets
and agenda for improvement.
 Recommends and shapes the
development of methodology,
policy and standards for credit
risk management across the
Segment in line with best
practice and regulatory
requirements .
3
Financial Accounting & Reporting
Ensures the financial integrity and ‘silent running’ of results. Applies technical accounting concepts and knowledge of accounting
internal and external standards and regulatory requirements to ensure reports are accurate, representative and present a single
version of the truth.
Level 1
Understanding
Understands financial processes
and systems and has sound
appreciation of the principles of
Summary
Group Reporting Manual and
IFRS requirements
 Understands technical accounting
concepts and the approach to
producing and interpreting financial
statements (e.g. P&L, Balance
sheet, Cash flow statements)
 Awareness and basic understanding
of internal BP accounting policy and
external requirements (e.g. IFRS)
 Understands the BP’s accounting
systems and processes used within
financial accounting
 Applies relevant data standards to
ensure accuracy and robustness of
information
 Supports the preparation of
accurate and complete financial
accounting statements in line with
policy, working across interfaces
with GBS where necessary to
ensure a robust end to end process.
 Understands the concepts of
product costing and movements
and its alignment to IFRS (e.g. FIFO,
COSA requirements)
 Understands the principles of cash
and working capital reporting (e.g.
cash drivers from P&L and balance
sheet movement)
Level 2
Basic Application
Applies IFRS and GRM to
consolidate financial
information and ensures that
the information captured is
accurate and complete and
represents a single version of
the truth
 Actively updates accounting
knowledge
 Extracts relevant data from the
ledgers managing interfaces with
GBS where necessary and
presents information to a non-
specialist audience, explaining
accounting concepts simply
 Interprets accounting policy
requirements to provide compliant
accounts and efficient processes in
accordance with IFRS and GRM
 Carries out specialist tasks (e.g.
inventory reconciliation, product
accounting) to create reports in line
with group reporting standards
 Effectively utilizes systems and
appropriate controls (e.g. SAP) to
accurately capture and process
financial information
 Adopts a systematic approach to
analysis, identifies root cause of
issues and supports the elimination
of errors and bias
 Interprets key principles behind
product accounting and provides
required product information input
to financial reporting and planning.
Level 3
Skilful Application
Applies deep technical
knowledge of financial
reporting and relevant Group
and IFRS standards to ensure
compliance, provide insight
and drive financial
performance
 Applies technical accounting
expertise to interpret the impact
of business activity and market
prices on financial statements
and resolve issues
 Delivers an independent view
and balance of financial and non-
financial information to
stakeholders to support decision
making and provide appropriate
challenge
 Liaises with accounting policy
teams, third parties and
legislative bodies to gain deep
understanding of accounting
requirements and pre-empt
implications
 Embeds routine checks and
verification processes in ways of
working
 Identifies and applies rules of
thumb and business knowledge
to verify the accuracy and
robustness of financial reports
ensuring objectivity within
reporting
 Demonstrates deep
understanding of product
accounting throughout the
product to contract process .
Level 4
Master Application
Applies knowledge of accounting
standards and associated
developments to guide the
interpretation of policies and
ensure the optimal accounting of
complex transactions and SPU
results
 Interprets accounting principles and
policy; works within Group policy and
applies judgement and leading practice
to respond to business needs
 Applies detailed understanding of how
appropriate application of accounting
policy can maintain compliance and
drive cost-effective decision making.
Translates implications of results and
market drivers to the wider teams
 Proactively manages relationships with
third parties and legislative bodies, in
conjunction with Regulatory and Legal
teams, and shares leading insight
internally
 Maximises data integrity by optimising
reporting processes and ensuring
effective checks and verification
processes and drives robust interfaces
 Applies detailed knowledge of
requirements for accurate consolidation
of financial statements to complex
business transactions in accordance
with BP policy and IFRS
 Able to guide product accounting in
new and /or challenging situations
across the end to end process,
securing support for implementation.
Level 5
Expert
Ensures Segment adherence
to Group and IFRS standards
and integrity of financial
outputs. Identifies and
implements changes in
segment processes to
ensure continuous
improvement
 Provides subject matter
expertise on IFRS and other
applicable GAAP accounting
standards
 Provides advice on application
of internal accounting policy
and IFRS/relevant external
accounting standards
 Oversees and validates results
for the business negotiating
entity and is accountable for
the financial integrity of actual
results and forecasts
 Provides challenge to reporting
processes and concepts to
ensure continuous
improvement and integrity of
reporting and maintenance of
cost, control and shareholder
value
 Leads the interpretation of
requirements to senior
leadership and translates into
practical commercial drivers
 Provides SME input to
financialise the identified
competitive strategy (e.g. new
business projects).
4
Integrated Planning
Engages stakeholders and challenges assumptions to ensure plans and forecasts are grounded in the reality of the business and
external environment, and that they deliver the business strategy. Translates strategy into coherent business plans with clear
milestones and performance indicators. Integrates knowledge of historical performance with future market insights to guide decisions.
Level 1
Understanding
Understands the role of the
Summary
planning process in translating
business strategy into activity
 Understands the core elements
of the local business strategy
(e.g. participation strategy) and
how this becomes operational
through the plan
 Understands the planning
process (timing, activities,
drivers, constraints, resources)
and supports cross-functional
teams to complete and verify
financial analysis
 Understands the relationship
between the planning and
performance activities (e.g. the
plan, the GFO and the regular
performance management of
the business)
 Is aware of the key macro-
economic assumptions used
within the planning process (e.g.
exchange rates, inflation rates,
refining margins, salary and
benefit assumption)
 Understands the benefits of
integrated business planning
(e.g. CBM, LBM, ABM) and key
process and activities (e.g.
supply review, demand review)
and is aware of the relationship
to strategic planning.
Level 2
Basic Application
Supports the planning process
through defining activities and
financials that support strategic
outcomes
 Supports the integrated
planning cycle by applying
knowledge of strategic drivers
(and macro influences that drive
performance) to support
development of credible
financial plans that are
consistent with strategic aims
 Facilitates the planning process
by engaging stakeholders,
checking, testing and
challenging assumptions and
ensuring inputs are informed
and robust (e.g. ensures active
communication of planning
cycle requirements)
 Understands macro-economic
assumptions and resulting
implications on planning, knows
where to find them (e.g. as
defined in the Blue Book) and
understands the exceptions to
these relating to the specifics of
the local business
 Supports integrated business
planning (CBM) (e.g. calculates
or utilises 24-30 month
financials).
Level 3
Skilful Application
Coordinates planning activities,
engages stakeholders and
creates robust and viable plans
aligned to strategy
 Works with business
stakeholders to identify the
operational levers and activities
that will ‘close the gap’ towards
achieving strategic objectives
(e.g. identifying the functional
activities required to support a
new investment)
 Challenges the business on
viability of activity or alignment
with strategic goals
 Integrates collective knowledge
of cross-functional teams from
across the business to mitigate
conflicts of interest (e.g.
manages potential conflicts
between Sales and Production
teams)
 Drives robust, valid and realistic
planning and forecasting (e.g.
actively reduces optimism bias,
brings realism and challenge) for
material scale business.
 Actively drives and facilitates
integrated business
management, (e.g. identifies
potential issues early in the
demand/supply reviews,
challenges execution plans).
Level 4
Master Application
Drives alignment and
integration of planning,
performance and integrated
business management activities
 Applies business and market
expertise to provide challenge
and guidance on plan
assumptions and risks, ensuring
consistent alignment with
Downstream / SPU strategy
(e.g. appropriate margins, future
carbon tax changes)
 Provides subject matter
expertise on strategic financial
planning (e.g. sets plan
guidance, assumptions and links
to segment financial framework)
to develop meaningful activity
sets
 Embraces cultural differences to
gain the best outcome from
cross-functional teams
 Reviews and challenges
planning activities to ensure
plans are robust and practical;
balances realism with
appropriate level of stretch
 Supports the development,
integration and maturity of
integrated business
management, (e.g. develops
capability, ensures connectivity
between different review
stages, integrates CBM with
existing processes).
Level 5
Expert
Sets the planning framework
and challenges consolidated
planning submissions for rigour
 Applies deep understanding of
strategic goals and the
associated financial planning
drivers to influence, challenge
and shape plans
 Shapes the Segment / Group
planning framework and
articulates the components
(including assumptions,
expectations and boundaries) to
senior leadership
 Challenges consolidated
planning submissions for cross
functional consistency and
rigour
 Sets the agenda for integrated
commercial business
management
 Challenges leaders across all
parts of the business to ensure
alignment of activities with the
CBM outlook and Plan.
5
Integrated Risk Management
Proactively identifies, pre-empts and puts in place management activities to address potential business and financial risk.
Demonstrates balanced risk and reward judgement; enabling business growth whilst protecting against potential loss or
reputational damage.
Level 1
Understanding
Demonstrates basic awareness
of the process for identification
Summary
of key risks and the impact of
risk on financial or reputational
performance
 Understands BP Group Risk
management methodology
(e.g. the Group Risk
Management System as part of
BP’s System of Internal
Control).
 Works with stakeholders to
identify risks (financial and non-
financial) related to business
activity (e.g. the risk of conflict
in a country, legal risks, safety
risks, ethics and compliance
risks)
 Understands the process of
identifying risks and assessing
their worst credible impact and
net risk impact and likelihood
 Understands the importance of
a strong risk management
framework across end to end
processes including into GBS
 Actively manages risks within
own role (e.g. manages risks
within the planning process
such as delivery against
deadlines, competing priorities)
 Understands fully the role of
Group Audit.
Level 2
Basic Application
Extracts knowledge of financial,
operational, commercial and
compliance risks to proactively
identify potential vulnerabilities
 Understands how risk
management processes interact
with the Group Risk
Management System and
Business and Strategic Risk
Management
 Works with stakeholders to
proactively identify and challenge
potential risks and understands
their wider implications on
business operations (e.g. refinery
fire impacting production volume
and impacts on working capital)
 Assesses impacts of worst
credible risks with risk owners,
helping identify potential financial
and non-financial impacts and
their likelihood
 Works with key business
stakeholders to identify
appropriate controls and
contingencies including
challenging the robustness of
risk management approaches
 Works with risk owners to help
identify monitoring and
assurance areas.
Level 3
Skilful Application
Elicits deep business and
external market knowledge to
pre-empt, manage and reduce
potential impact and/or
likelihood of internal and
external risks
 Helps to improve risk
management methodologies
and processes and alignment
with the Group Risk
Management System
 Supports the articulation of risks
to enable effective
understanding and assessment
of their impact and likelihood
 Actively participates in
development and regular review
of the SPU or Function Risk
Management Report
 Assesses and presents detailed
assumptions of both the worst
credible risk and the net risk
assessments
 Integrates input from relevant
stakeholders to facilitate
discussions around risk
prioritisation; supports decision
making and provides
appropriate challenge
 Seeks assurance on risks where
risk management activities or
actions are not evident
Level 4
Master Application
Drives leading thinking in
understanding the pressures and
risks in the commercial
environment to support and
challenge strategic priorities
 Drives behaviour in line with
Group Risk management
methodology
 Recognised as a major
contributor to Group Risk
Management continuous
improvement, advising on
external best practice
 Proactively challenges the
business on relevant risks and
incorporates those identified
within financial (e.g. GFO) and
business (e.g. MyPlan) planning
 Advises on completion of the
SPU/Segment Risk Management
reporting to enable business
planning, appropriate
intervention, investment
incorporating business change
impacts on risk
 Actively compares risk vs. reward
to support strategic decisions
and enable safe, reliable and
compliant operations whilst
delivering appropriate returns and
performance
Level 5
Expert
Leads integration of risk
management to drive strategy
and the maximisation of
shareholder value whilst
safeguarding the assets and
reputation of the company
 Leads Risk Management
development and continuous
improvement and seeks to
benchmark business against
external best practice and drive
consistency across BP
 Champions the integration of
risk management methodology
into all business processes,
such as planning, business
case and FM development
 Influences senior leaders by
providing insights and
translating risk and future
threats into tangible business
impacts (e.g. assesses risks
from a reputational and
investor point of view,
demonstrates impacts to share
prices) to equip the business
to manage risks within agreed
levels of exposure
 Drives business direction on
risk management, bringing a
Group perspective on risk to
business issues
6
Investment Appraisal
Applies knowledge of valuation approaches to create investment proposals and support and challenge investment decisions.
Uses appropriate evaluation techniques and economic models to maximise total shareholder returns. Applies knowledge of the
organisation to ensure investment decisions are aligned to strategic goals and operational capabilities.
Level 1
Understanding
Understands the technical
Summary
and business specific
investment appraisal
methods and decision
making processes
 Demonstrates awareness of
Discounted Cashflow (DCF)
investment valuation and the
main economic metrics (e.g.
NPV, IRR, IE and payback);
understands the application
of CoC and hurdle rates.
 Understands cash flow, profit
and loss and balance sheet
statements
 Aware of BPs CVP approach
to project selection,
development and execution
 Aware of BP’s evaluation,
documentation and
governance process for
investment (e.g. GIAAP and
Economic Evaluation
Methodology (EEM), Blue
Book).
 Aware of the need to
articulate both risk and
reward, and of non-financial
inputs and risk factors (e.g.
HSSE, oil price changes).
Level 2
Basic Application
Applies investment valuation
techniques and guides the
evaluation of investment
proposal decisions
 Performs the financial
analysis of potential
investment or divestment
projects through preparation
of expected cash flow models
to support decision-making
process
 Can explain the impact of
making investment decisions
in terms of risk and reward to
key business stakeholders,
and the impact of
uncertainties on value.
 Understands the principle of
how risk is allowed for in the
value model through the use
of expected values
 Applies GIAAP / EEM to
create economic models to
evaluate key metrics
accurately for simple projects
(e.g. operating expenditure,
working capital trade-offs).
Integrates assessment of
non-financial data.
 Fully understands BP
evaluation, documentation
and governance processes
for investment projects.
Level 3
Skilful Application
Applies deep technical knowledge of
investment appraisal techniques to provide
insight and challenge around investment
decisions
 Leads the development of more complex
business cases to deliver business strategy
and assess the balance of risk and reward
 Fully conversant with the EEM and the
principles that underpin it (e.g. why one
WACC; implications of central funding; dual
discounting for lease-like commitments)
 Uses appropriate tools to evaluate risks and
sensitivities (e.g. tornado charts)
 Explains investment techniques and
concepts (e.g. driving Total Shareholder
Returns) to stakeholders to ensure relevant
understanding
 Leads the application of EEM for specific
opportunities; converts opportunities and
risks into tangible statements of financial
value
 Actively collaborates with stakeholders and
guides choices to ensure robust
assumptions, options, sources of value and
sensitivities (e.g. to identify the most
pertinent sensitivities)
 Develops clear, succinct and effective
governance document (e.g. ATN, FMs),
providing a fair and unbiased representation
of the project with key metrics and risks
 Challenges decision makers to select the
project (whether organic or inorganic) that
maximises shareholder value.
Level 4
Master Application
Applies robust investment
appraisal techniques and
business understanding to
guide SPU investment
strategy
 Leads the development of
more complex business cases
including those that are
submitted to BP’s Resource
Commitment Meeting (RCM)
 Demonstrates technical
application of a range of
economic investment models
and provides guidance to
ensure optimal valuation
techniques are applied, e.g.,
application of EEM to trapped
cash in a JV.
 Assures application of BP
process and valuation
techniques and alignment of
decisions with strategy
 Coaches and challenges
others to ensure balanced
considerations of risk and
reward
 Owns the development of
governance documents (e.g.
ATNs, FMs, Post Project
Evaluations, rigorous
Assumption Registers);
challenges others to ensure
they are clear, complete and
unbiased.
Level 5
Expert
Leads the most complex
investment decisions and
embeds best practice
thinking around
investment valuation
 Integrates complex
considerations around
value and risk to lead the
development of the most
challenging business cases
(e.g. considering political
influences)
 Develops and promotes
investment techniques to
enhance best practice
 Recognised by industry
peers as a leader in the
field and coaches or
advises a range of
audiences up to senior
leadership on investment
projects
 Provides oversight of the
application of the EEM for
the Segment or Group
 Shapes, refines and looks
to continuously improve
Segment or Group process
for evaluating business
decisions (e.g. leads
formulation of BP policy in
EEM related areas)
 Provides assurance that
due process has been
followed for all RCM cases.
7
Leading Sustainable Change
Embeds change through effective communication and engagement, robust project management and development of change
management capability. Proactively manages stakeholders, interdependencies and conflicting priorities to ensure the success of
projects or change initiatives. Drives the continuous improvement of systems, processes and activities to deliver sustainable business
performance.
Level 1
Understanding
Understands the importance
Summary
of effective change and
project management and
the tools available
 Aware of the available
change management tools
and standard approaches
(e.g. including those tools
provided on BP’s change
leader online portal)
 Actively contributes to
continuous improvement
(including standardization,
efficiency and simplification)
by identifying opportunities
within own work (e.g.
automating repetitive tasks,
consolidating spreadsheets)
 Understands the importance
of the fundamental tools,
principles and project
management techniques
 Aware of the end to end
processes and the elements
that sit within and outside
Embedded Finance (e.g.
record to report, order to
cash, procure to pay).
Level 2
Basic Application
 Actively identifies change
and improvement
opportunities and supports
project delivery
 Actively engages stakeholders
to support change (e.g.
articulates business case for
change, ensures buy-in and
understanding of financials and
assumptions)
 Understands and applies the
BP Change Framework (e.g.
including the tools available on
Change Leader Online) and
BP’s CVP stage gate process
 Methodically applies project
management techniques to
support project delivery on
time, within budget and to
specified quality
 Able to identify risks and
weaknesses within systems,
supports continuous
improvement (e.g. creates
automated processes to
reduce risk and integrates best
practice from other areas
 Drives effective working
relationships and collaboration
across different elements of
the process to enable
consensus and resolution of
issues.
Level 3
Skilful Application
Effectively manages projects and
change and leads continuous
improvement initiatives
 Applies best practice project
management to creates
compelling change options
 Effectively manages change
projects within own business or
functional area
 Actively engages others to
deliver results (e.g. engages
colleagues and builds effective
teams for solution design, drives
robust stakeholder management)
 Reviews change impacts and
monitors how well change is
being embedded and takes
action to mitigate blockers and
conduct post project assurance
 Challenges the status quo to
drive improvement; focuses
continuous improvement
activities on areas of greatest
importance
 Understands the sources of
value that drive project success
and actively measures and
maintains KPIs to monitor
 Drives value creation and
efficiency across end to end
processes (e.g. recognises
weaknesses within interfaces)
and engages process owners to
drive change.
Level 4
Master Application
Leads significant change and
continuous improvement through
collaboration and rigorous project
management
 Leads and empowers others to
deliver and embed significant
business change programmes
 Coaches others to actively removes
barriers to change (e.g. provides
appropriate levels of authority to
others, rewards others who
challenge the status quo) and
maximises value for the business
through advanced project
management expertise and
management of complex or global
projects
 Proactively monitors the ongoing
sustainability of change and
identifies and shares best practice
to make change last
 Effectively embeds continuous
improvement across complex,
global, decentralized teams (
 Drives standardization and
efficiencies across the organization
and end to end processes (e.g.
working across SPUs / Functions /
GBS).
Level 5
Expert
Sets the agenda and
expectations for continuous
improvement and project and
change management
 Applies extensive knowledge of
the stakeholder environment to
ensure projects and change
initiatives achieve their stated
objectives
 Supports and articulates a
compelling case for change and
drives strong engagement in
change initiatives
 Drives best practice and
knowledge sharing to aid
continuous improvement
 Drives the development of
intelligent systems for global
use (e.g. includes integrated
price markers which are
standardised suitable for all
SPUs / Functions)
 Leads and challenges project
initiatives to demonstrate
benefits realisation; ensures
closeout activities capture
learning and drive future and
sustainable benefits
management
 Challenges teams to break
down silos and adopt a ‘one
Team’ ethos.
8
Performance Insights
Executes robust performance management and reporting processes that add value to decision-making. Translates financial
results into meaningful insights that explain performance and help shape action. Acts as a true business partner: understands
critical issues and drivers. Identifies levers and stimulates action to continuously improve business performance.
Level 1
Understanding
Understands the fundamentals
Summary
of performance management
including the use of MI and
performance reporting
 Demonstrates awareness of
available MI and performance
metrics
 Demonstrates awareness of BP
standards and definitions (e.g.
Purple Book, operating metrics)
 Understands high level
definitions, data owners and the
role of MI in performance
management (e.g. non-financial
MI such as Availability,
Utilisation)
 Understands the drivers of
performance across the
business and recognises the
different financial and non-
financial levers that can be used
to improve performance
 Understands actuals and the
basic financial and non-financial
Key Performance Indicators
(KPIs) defined to measure
performance across the
business
 Understands the role of financial
reporting, including actuals and
forecasts, in supporting
business decisions
Level 2
Basic Application
Contributes to effective
performance management
through accurate financial
data analysis
 Calculates financial and non-
financial performance metrics;
ensures the quality and
integrity of data
 Articulates trends and
summarises detailed analysis
into meaningful high level
messages
 Analyses and interprets
actuals as basis for
performance management at
business level
 Actively supports reporting
processes (e.g. supports the
integrity of SFO/GFO)
 Understands the drivers and
associated risks,
vulnerabilities and
opportunities within cash and
working capital management
 Demonstrates knowledge of
the complexities of cash
forecasting, the assumptions
that drive the cash
forecasting model and the
‘rules of thumb’ used to test
cash forecasts given volume,
cost price etc
Level 3
Skilful Application
Shapes business decisions through
insight derived from intelligent
analysis of financial and non-
financial data
 Actively reviews and challenges
data; engages others (e.g. GBS) to
manage data integrity, engages the
business to test the value of MI and
seeks best practice inside and
outside of BP
 Coaches others to interpret data in a
way that is meaningful and
powerfully communicated to others
 Provides meaningful insights to SPU
leadership, actively communicates
opportunities or risks to achieving
the business strategy and helps
identify levers to shape
performance (e.g. shift patterns to
reduce costs, inventory
management to enhance cash-flow)
 Provides and independent voice to
challenge performance outcomes
and create proposals for
improvement Actively shapes and
defines different reporting solutions
to meet the needs of stakeholders
 Translates the SPU cash agenda
into practical and sustained
improvements to cash and working
capital management (e.g. cash
conversion cycle, cash delivery,
improved forecasting)
Level 4
Master Application
Recognised as a true business
partner - creates an effective
financial and non financial MI
landscape for the SPU across all
functional activities
 Manages and adapts the MI
landscape and drives an
intelligent MI approach that is fit
for purpose and provides valuable
insight (e.g. challenges the use of
MI to ensure time is focused on
key metrics)
 Challenges others to develop
levers and actions to manage
performance
 Generates options to leverage
performance and closes
variances between targets and
actuals or to mitigate the impact
of identified in-year risks
 Challenges and coaches others
to explain performance
effectively (e.g. using business
and financial language, combining
KPIs, financials and activity sets)
and drives flexibility by improving
reports
 Leads the on-going review of
performance reporting and
collaborates with the business to
incorporate SPU driven
requirements
 Plays leading role in helping drive
the Downstream cash agenda
and the robustness of working
capital forecasts
Level 5
Expert
Creates the strategy and
framework for effective
performance management
 Partners with the business to
ensure MI metrics are clearly
aligned with measuring
progress on the strategic
journey
 Creates a performance
management culture to drive
simplification, standardisation
and improvement of
performance
 Actively challenges and
shapes the role of
Performance Management
within Downstream to ensure
effective application within
the business
 Leads the communication of
performance to senior
leadership and external
stakeholders
 Drives the simplification of
the MI landscape
 Promotes the importance of
the cash agenda as critical to
maintaining shareholder value
 Influences the Segment /
Group strategy and agenda
for cash forecasting, cash
delivery and working capital
management
9
Shaping Strategy
Uses deep knowledge of industry fundamentals, competitor dynamics, BP strategy and its influencers to play an
active role in shaping and implementing business strategy. Applies financial acumen, market insights and strategic thinking to
identify business opportunities and shape future activities including the ability to drive strategic investment and portfolio choices.
Level 1
Understanding
Understands the drivers of
Summary
business strategy and key tools
to help shape and implement it
 Understands the different
elements of the business
strategy (e.g. operating
envelope, participation,
competitive & organisation
strategy, regulatory
development)
 Understands the impact of
business strategy on economic
value (e.g. approaches to
managing credit risk,
implications of investment
strategy)
 Understands how drivers in the
external environment (e.g.
political, competitive,
technological changes) will
inform business strategy
 Understands how strategy can
be represented through
financial statements and
metrics
 Understands tools and
frameworks that support
strategy analysis and
development (e.g. Porters five
forces analysis)
 Actively updates knowledge of
the external market, industry
and competitors (e.g.
researches market activity).
Level 2
Basic Application
Supports the development,
articulation and implementation of
strategy through business insight
and analytical skills
 Articulates the key elements of
business strategy and contributes
to the development of strategic
options, challenging where
appropriate
 Supports the articulation and
implementation of strategy through
translation of strategy into
financials
 Integrates financial and non-
financial indicators to describe and
interpret changes in the
environment (e.g. oil & product
prices, interest rates, inflation or
unemployment)
 Assimilates information from a
wide range of sources and uses
different tools (e.g. SWOT analysis)
to create meaningful options
 Utilises both internal and external
sources to update knowledge of
the market, industry, competitors
and trends in strategic
management
 Monitors the implementation of
strategy using strategic KPIs
 Understands the barriers and
enablers to bringing strategy to life
within the organisation and
supports the monitoring of
implementation.
Level 3
Skilful Application
Applies challenge and market
insight to contribute to the
development and implementation
of strategy
 Translates high level strategic
context into local activity relevant
to the business (e.g. informs
resource requirements and plans)
 Provides proactive challenge,
tests robustness against uncertain
outcomes, and develops
alternative proposals (e.g. to
enable the balance between profit
and free cash or risk management
with new market growth)
 Identifies and evaluates strategic
opportunities (e.g. acquisition or
divestment opportunities) using
GIAAP and CVP approaches.
 Articulates the financial drivers
and metrics required to
implement business strategy
 Translates external market
knowledge into a meaningful
‘story’ to decision-making (e.g.
how excess capacity in the
market impacts trade flows and
pricing)
 Leads the development and
tracking of the implementation
agenda and roadmap, providing a
clear line of sight to performance
against strategy (e.g. selecting,
forecasting and monitoring
appropriate KPIs.
Level 4
Master Application
Drives the use of best in class
strategic and analytical tools,
and applies creative thinking
and business insight to shape
SPU strategy
 Acts as a subject matter
expert on strategy
development and
implementation; coaches
others in shaping and
implementing strategy
 Applies leading financial
market and industry sector
knowledge to identify and
prepare for future trends
 Actively seeks and shares
best practice knowledge on
strategy theory
 Engages relevant teams and
information providers to
monitor the performance of
industry sectors, and
translates into tools to shape
business activity (e.g. sectors
ratings, customer limits, seeks
forward-looking competitor
analysis and insight)
 Acts as an integrator across
the SPU or function, leading
the implementation of
strategic objectives and
engaging stakeholders to
overcome barriers to
implementation.
Level 5
Expert
Leads the development,
articulation and
implementation of Segment /
Function strategy
 Creates connections and
maximises expertise from
across the business to guide
strategy development and
implementation
 Influences and shapes
strategy including the
Downstream operating
envelope, participation
strategy, long term
assumptions and financial
framework
 Builds capability to ensure
that strategy is always
refreshed and reflects the
best of opportunities for BP
 Leads professional network
of internal and external
contacts to discover leading
practice, and brings external
view back into the business
to guide strategy (e.g.
improves competitor and
market intelligence)
 Uses credibility to influence
internal and external
stakeholders to shape,
support and implement
strategy .
10