About the job

Job summary

As the UK’s regulator for the energy industry, Ofgem works on behalf of energy consumers to ensure that every household and business in the UK can rely on a safe, affordable and environmentally sustainable energy supply.

Within the role of Associate Analyst within the Financial Advisory team you’ll be responsible for providing advice to the wider organisation on issues of corporate and regulatory finance, as well as leading on the operationalisation and implementation of Ofgem’s RIIO price controls. You’ll be producing and presenting analysis and advice in order to support key policy decisions, improve the quality of the team's analytical output, and assist other aspects of Regulatory Finance work as appropriate.

To support the delivery of the portfolio and the achievement of organisational objectives, you will collaborate closely with various teams within the organisation, engaging with a range of internal and external stakeholders including technical specialists, and government and regulatory bodies.

We’re looking for somebody who has quantitative and qualitative analytical skills alongside fantastic communication skills. Working on financial models and processes, you’ll have a track record of analysis and modelling, as well as a proven ability to manage and make decisions that align with organisational priorities.
You will be able to work collaboratively with colleagues, effectively managing projects to plan and oversee set deliverables to a high standard, and communicate complex information and data to support the wider team with delivery of outcomes.

Joining a dynamic, passionate and knowledgeable team of financial experts, you’ll have the chance to learn and progress in a fully flexible environment which offers a unique opportunity to work across high profile projects, including Price Cap, as well as across the Regulatory Finance discipline and wider Analysis profession and network.

Ofgem offers incredibly flexible working practices, enabling you to manage your work/life balance successfully. We pride ourselves on a great culture, with an approachable and friendly senior leadership team who are there to support you in your role. If you are looking for an opportunity to build a career in financial analysis, with experience in modelling and processes, we’d love to hear from you.

Job description

The current energy market environment is unprecedented. The record increase and volatility in global gas prices has put the market under severe strain and is putting upward pressure on customers’ energy bills. Now more than ever we need to go further and faster in pursuing the country’s climate goals and reduce our reliance on fossil fuels to protect ourselves from similar future price shocks. 

Such challenging times require bold action. We are looking for people to meet the challenges we face head-on, and help us deliver a greener, fairer energy system. 

Team Purpose 

The Financial Advisory sub-profession is a dynamic, friendly, and inclusive team consisting of financial experts with a range of financial skills and backgrounds. It provides advice to the organisation on corporate and regulatory finance issues, has financial oversight of the retail market, as well as leading on the operation and implementation of Ofgem’s RIIO price controls. It has sub-teams in Corporate Finance, Finance Policy, Strategic Planning and Investor Relations, Regulatory Reporting, Commercial Advisory, Retail Financial Monitoring and Financial Modelling.    

After the initial deployment, you will have the opportunity to work flexibly across Ofgem as a member of your Profession, working on cross-Ofgem projects, and/or in teams that require your skills and expertise. 

Within Ofgem this role is known as Associate Financial Advisor. 

Key Responsibilities and Outputs 

• Contribute to analysis and projects with appropriate supervision. 
• Provide supporting analysis on wider retail market interventions or decisions to other Ofgem or wider HMG teams. 
• Work with a wide range of internal and external stakeholders. 
• Using your expertise, provide inclusive knowledge sharing, support and development that demonstrate commitment to Ofgem values. 

To support the team deliverables, utilising your expertise to ensure successful outcomes across the team and wider directorate: 

• Develop an understanding of the complexities of the energy retail market, licence conditions, and reporting frameworks used to collect and analyse financial and operational information from licensees. 
• Assist with reviewing data relating to the financial position and performance of licensees. 
• Undertaking operational tasks assisting with portfolio delivery. 
• Deliver work objectives, milestones, and achieve success metrics to a high standard. 
• Collaborate closely with other teams.  

Person specification

Essential Criteria

• Quantitative and qualitative analytical and commercial skills and/or the ability to analyse complex concepts and work to solve problems and contribute to effective policy recommendations. (Lead criteria) 
• Undertaking high quality research and conducting risk assessments, proactively identifying applicable evidence and analytical methods that contributes to the development of the evidence-based decision making. 
• Engaging with internal stakeholders, and other analytical and policy specialists where necessary, to scope and agree analytical input. 
• Effective written and verbal communication skills to communicate complex issues to non-expert audiences. 
• Experience contributing to projects within a team environment working to deadlines set and providing accurate analytical information.

Desirable Criteria

• Experience of working in energy or other regulated sector; for a consultancy, government, or regulator; on policy, regulatory, or energy sector projects. 
• Knowledge and use of Power BI – Data View, report building and dashboards etc.  
• finance qualification or working toward / comparable financial/commercial experience. 

Benefits

Alongside your salary of £24,623, OFGEM contributes £6,648 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.

Things you need to know

Selection process details

This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours, Experience and Technical skills.

When you press the ‘Apply now’ button, you will be asked to complete personal details (not seen by the sift panel), and upload a copy of your CV anonymising all details where necessary.  

You will then be asked to answer 3 Technical Questions evidencing how you meet the essential and desirable skills and capabilities listed in the role profile. Please ensure you demonstrate clearly, within these answers how you meet each of the essential and desirable skills and capabilities. 

The Civil Service values honesty and integrity and expect all candidates to abide by these principles. Ofgem take any incidences of cheating very seriously. Please ensure all examples provided are of your own experience. Any instances of plagiarism or other forms of cheating will be investigated and, if proven, the relevant applications will be withdrawn from the process. 

Feedback will only be provided if you attend an interview or assessment.

Security

Successful candidates must undergo a criminal record check. People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements (opens in a new window)

Working for the Civil Service

The Civil Service Code (opens in a new window) sets out the standards of behaviour expected of civil servants.

We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles (opens in a new window). The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria. The Civil Service also offers a Redeployment Interview Scheme to civil servants who are at risk of redundancy, and who meet the minimum requirements for the advertised vacancy.