About the job

Job summary

We’re Ofwat, the Water Services Regulation Authority – a non-ministerial government department responsible for regulating the water sector in England and Wales. 

As the economic regulator of water and wastewater companies in England and Wales, our role is to enable, incentivise and hold companies to account for providing the very best for customers, communities and the environment now and in the future. We also oversee the markets in the water sector to ensure they’re working for customers.   

We are at the source of everyday life. Our work is high-profile and fast-moving, within a dynamic and agile environment. The work that you’ll be involved in every day will help us to deliver our strategy, to make us the regulator we want to be and help the sector to deliver for customers and society.  

You can find out more about why you should join Ofwat, our strategy, values and our framework for success in the attached Information for Candidates Pack. 

Job description

Key deliverables:

• Work on different projects within the Financial Resilience work stream. 
• Monitor the financial performance and position of companies and consider whether there is a risk to their resilience and whether action needs to be taken to protect customers. This may include wholesale water and wastewater companies, smaller NAV companies and the non-household retail companies.
• Contribute to the development of our policy and processes in relation to how companies need to demonstrate resilience and the approach that Ofwat should take to regulation in this area. 
• Identify potential issues relating to the accuracy and transparency of financial reporting by companies, as well as company compliance with relevant license requirements. You may also be involved in work to address concerns over the resilience of individual companies. 
• Support other workstreams and priority areas across Ofwat, such as the delivery of PR24 which is responsible for delivering price determinations for 2025-30. Work in this area may include contributing to the review of business plans submitted by companies and following any interventions to those plans made by Ofwat.

Person specification

To be successful in this role you will need the below essential attributes, experience, skills and knowledge:

Experience, skills and knowledge 

• Lead Criterion: Qualification or part-qualification in accountancy, corporate finance or other financial disciplines (e.g. ACA, CIMA, ACCA, CIPFA, CFA) or equivalent experience in a similar role.
• Lead Criterion: Experience of analysing, interpreting and challenging financial information relevant to determining a company's financial position. 
• Understanding of financial reporting and the application of relevant accounting standards.
• Understanding of company and group structures, how companies raise finance and the types of finance that are available to them.
• Experience of developing and using financial indicators and other information to monitor the performance and financial stability of companies.
• Excellent analytical skills and the ability to draw well-reasoned conclusions from your analysis.
• Excellent oral and written communication skills. Including the ability to write high quality documents and to communicate complex analysis and issues to non-technical audiences.
• Ability to work flexibly to tight timescales, while managing competing priorities.

Attributes 

• Adaptable Thinker
• Builds trust
• Making Relationships Count
• Delivering Outcomes

Attributes as per Ofwat's Framework for Success for Senior Associate Band. You can read more about Attributes here.

Benefits

Why You Should Join Us: 

We are forward-thinking, creative, innovative and ambitious. We actively encourage autonomy, collaboration and innovation and we have a unique culture fostered by trust, flexibility and respect.

With us, your work matters, your voice is heard, and your impact is felt. Ours s a culture of trust, flexibility, autonomy, collaboration, and innovation. We all want positive change for water customers, the environment, and the future of water.  

You will also benefit from:

• Excellent employer pension contributions, for this role ranging from £10,004 to £12,195. You can find further details about pension schemes under Terms and Conditions in the Candidate Pack.
• 27.5 days leave (25 days annual leave + 2.5 days privilege leave) increasing to max 32.5 days with each year of service), plus bank holidays
• Access to exclusive discounts on a variety of goods and services, including retail 
  outlets, theatre tickets, holidays, insurance, and a gym membership.
• Flexible working arrangements that suit your lifestyle.
• Fees paid for membership of relevant professional bodies.
• Up to 3 volunteering days per year.
• Generous shared parental leave and pay.
• Enhanced sick pay.
• Regular development opportunities.
• Health and wellbeing initiatives.
• Season ticket loan for home-to-office travel.
• Cycle-to-work scheme.

Things you need to know

Selection process details

How to apply

Apply through the Civil Service Jobs website where you’ll be asked to create an account and complete an application form (CV and personal statement). If you’re unable to make an electronic application, please contact recruitment@ofwat.gov.uk and we will support you in completing your application.

Please ensure you have submitted your application in full ahead of the deadline listed below. Unfortunately, we won't be able to consider late applications.

Selection timetable

• Closing date: Sunday 3 March 2024
• Sifting: Week commencing 4 March 2024
• Interview date: Week commencing 11 March 2024

Assessment process

Sift Stage

At sift stage we assess your application against key essential skills, experience, and knowledge, listed in the professional requirements section above. 

In your application, please state clearly how your skills, experience, and knowledge meet the essential criteria.

In the event of receiving a large number of applications, a pre-sift may take place on just the following lead criteria: 

• LEAD CRITERION: Qualification or part-qualification in accountancy, corporate finance or other financial discipline. (e.g. ACA, CIMA, ACCA, CIPFA, CFA) or equivalent experience in a similar role.
• LEAD CRITERION: Experience of analysing, interpreting and challenging financial information relevant to determining a company's financial position.

In your personal statement, please tell us how your skills and experience meet the lead criteria, with examples if appropriate. 

You may find the STAR method useful in structuring your personal statement. 

Interview Stage

We will assess your Experience, Skills and Knowledge as well as Attributes (set out in the professional requirements section) at Interview Stage.

You can read more about Attributes in Ofwat’s Framework for Success.

As part of the interview process, we will require you to complete a written test that will take place prior to your interview. Further details will be provided to candidates upon invitation to interview. Please be aware that you will need approximately 2 hours for the interview process. 

Please note that the interviews will be conducted via video conferencing software such as Microsoft Teams.

If you have any queries about any aspect of this role, selection process, or you require any reasonable adjustments please email recruitment@ofwat.gov.uk.

Please read the attached "Candidate Information Pack" for details on terms and conditions.

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.