About the job

Job summary

At Ofgem, we are on the lookout for a leader with a knack for financial analysis, data analytics, and team management. We aim to fortify the retail energy market’s financial backbone, adhering to the Financial Responsibility Principle rules. Our goal is to ensure energy suppliers possess the necessary financial robustness, thereby safeguarding consumers from the ripple effects of market fluctuations.

The energy landscape is ever-changing, and recent trends have underscored the need for suppliers to bolster their financial strategies. We are committed to mitigating the impact of supplier shortcomings on consumers, who should not bear the brunt of higher bills due to market failures. Our Financial Resilience and Compliance (FRC) directorate is dedicated to championing this cause for consumer welfare.

As a pivotal member of our team, you will:

• Spearhead a group of adept analysts in scrutinizing suppliers’ financial fortitude using innovative tools and methodologies, including stress tests and monthly information requests.
• Continuously refine our processes and instruments to stay ahead of market risks.
• Collaborate across various sectors, ensuring that market intelligence translates into proactive regulatory measures.
• Enhance the delivery mechanisms of insights derived from regular data streams, adapting our surveillance tools to the dynamic market.

Ofgem celebrates diversity, fostering an environment where every voice is heard and valued. Our inclusive culture is the driving force behind our innovative spirit, enabling us to represent the communities we serve authentically. We welcome you to bring your true self to work, where you can thrive and contribute to our mission.

You will be entrusted with complex financial and commercial analyses of the retail market, ensuring operational excellence in reporting and risk assessment. Your leadership will not only guide a multidisciplinary Financial Monitoring team but also extend to the broader Financial Resilience function within Ofgem. Through effective project management, you will deliver high-quality work on schedule, embodying Ofgem’s values through inclusive leadership and knowledge sharing.

Your financial acumen will be instrumental in monitoring supplier resilience and understanding the intricacies of the energy retail market. You will empower your team to conduct thorough analyses, ensuring compliance with financial resilience rules and contributing to a robust market ecosystem.

As a Team Manager, your analytical prowess will assess supplier resilience and market dynamics. You will oversee the delivery of insightful reports, influencing supplier engagement and consumer protection. Your decisions will shape policy and regulatory outcomes, fostering strong stakeholder relationships and advancing your professional domain within Ofgem.

 

Job description

Purpose 

• Lead a team undertaking complex retail market financial and commercial analysis including analysis of specific domestic and non-domestic suppliers and development of cross market horizontal views. 
• Lead on the operational delivery of reporting financial analysis, ensuring that outputs feed into the directorate’s i) regular reporting and risk model ii) horizontal view of market risks and iii) vertical views of suppliers, ensuring strong links are maintained with Supervision colleagues and their engagement strategies. 
• Lead a multi-disciplinary Financial Monitoring team as well as being a collaborative leader in a wider Financial Resilience function across Ofgem.  
• Plan, oversee and deliver a set of work deliverables on time and to a high standard through effective project management and support of multidisciplinary team members. 
• Provide inclusive leadership, using your expertise to provide comprehensive knowledge sharing, support and development that demonstrate commitment to Ofgem values. 

Key Responsibilities:  

To support the team deliverables, that utilise your expertise to ensure successful outcomes across team members and collaborating teams 

• Use your financial expertise to lead on the monitoring of supplier financial resilience. 
• Use your expertise to understand the complexities of the energy retail market, licence conditions, and reporting frameworks used to collect and analyse financial and operational information from licensees. 
• Advise, support and oversee colleagues and team members to provide robust analysis and challenge of supplier's compliance with financial resilience rules.  
• Review data relating to the financial position and performance of licensees from a range of different sources. 
• Collaborate closely with other teams to manage interdependencies, risks and resourcing to support portfolio delivery. 

Key Outputs and Deliverables  

• Act as an Team Manager on analytical and / or financial workstreams to assess supplier resilience and market activity. 
• Manage delivery of regular reporting and analysis under tight timescales with high quality insight to drive engagement with suppliers for the benefit of consumers. 

• Manage analysis workstreams, providing oversight, guidance and direction to junior staff, ensuring teams effectively leverage evidence against the relevant licence conditions to drive good consumer outcomes and high standards at energy suppliers. 

• Act as a decision maker on analysis workstream outcomes, scrutinising recommendations and liaise effectively with key stakeholders when disseminating findings and informing policy or regulatory decisions.  

• Lead on the engagement with key internal or external stakeholders where a deep understanding of energy regulation and the activities of the Retail Financial Monitoring portfolio are essential to the effective management of the relationship. 

• Feed into the development of your designated Profession (candidates are likely to be placed in either the Analysis or Project Management Professions depending on their skills and background), with a particular focus on building the capability, experience and expertise of other team members.  

Support the development of a high-performing team based on effective resource management, ongoing support and professional development 

• Provide guidance to help team members deliver workstreams in line with expected timelines, by building supportive, inclusive team environment based on trust-based relationships, transparency and inclusivity. 

• Takes ownership for own continued development and other team members’ professional development relating to the role by: 

• Identifying your own continued professional development. 

• Providing ongoing coaching and identification of development opportunities.  

• Provide advice and support for colleagues who are pursuing professional qualifications.  

Person specification

Essential Criteria

• Have a recognised finance qualification (e.g. CCAB, CFA, MSc Finance) and/or relevant financial/commercial experience, that can be demonstrated by proven record of leading multifunctional teams and analytical workstreams. 
• Extensive experience in financial, economic or related analysis or data analytics, that can be demonstrated by proven record of high performance and substantial achievements in past positions.   
• Experience of managing a team or sub teams’ delivery high quality output under tight deadlines from data reception to output of analysis.  
• Experience of managing a range of internal and external stakeholders and working collaboratively with diverse colleagues.  
• Prior experience in being able to assess complex data sets.  
• The ability to prioritise numerous workstreams to meet challenging deadlines. 

Benefits

Alongside your salary of £58,520, OFGEM contributes £15,800 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), your career history and qualifications.  

You will then be asked to provide a 1250 word ‘personal statement’ evidencing how you meet the essential and desirable skills and capabilities listed in the role profile. Please ensure you demonstrate clearly, within your supporting statement, 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.