About the job

Job summary

Influence the financing of the energy sector by offering expert input on equity issues

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. We take a keen interest in the cost of capital, finance ability and capital structures of the organisations we regulate. Our Corporate Finance team offers assessment, advice and thought leadership in this critical area.

As a specialist in equity finance, you will advise policy and other teams on network price controls, the retail sector, and new sectors such as regulated nuclear and carbon capture utilisation and storage. You will also support the development of competitive regimes for offshore and onshore transmission, and other discrete infrastructure projects. We’ll also look to you for input on key equity financeability issues, including the cost of capital for organisations Ofgem regulates.

With a background in a regulatory or economic environment or a financial institution, you’ll bring extensive equity finance experience, ideally with some exposure to the energy sector. Holding a recognised professional qualification (CCAB, CFA, MSc Finance) or able to demonstrate relevant finance or commercial experience, you’ll have a strong record of achievement.

Understanding of the requirements of public and private equity investors, including risk/return trade-offs, investment approaches and drivers of value would be an advantage, as would knowledge of financial modelling. A proven ability to see the big picture and make effective decisions is important, along with strong communication skills and a capacity to deliver at pace.


Ofgem relies on having a workforce that reflects the society we serve, so we welcome candidates from all backgrounds, and especially those from underrepresented groups. While this is a full-time role, flexible working patterns and job shares are welcome. We will also support you with excellent training and development opportunities, plus a competitive benefits package.

For more information on this role and to hear from the team please join our recruitment Open Event on Wednesday 14th February at 12.30pm free on the link below.

https://buytickets.at/ofgem/1132046

Job description

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.

From a base within the Corporate Finance team, you will have the opportunity to work on a wide range of cross-Ofgem projects that require your skills and expertise.

Person specification

Key Responsibilities of this Role

• Provide high-quality advice and guidance on matters relating to equity financing and financeability issues across the sub-sectors that Ofgem regulates.
• Lead work on allowed equity returns and financeability within price control frameworks.
• Provide tailored support to nascent sectors such as New Nuclear, Carbon Capture and Storage and Hydrogen.
• Engage with internal and external stakeholders on matters related to equity financing and returns. External stakeholders include, but are not limited to, HM Government, sector regulators, UK Regulators Network, regulated companies, investors and credit rating agencies.
• Prepare high-quality documentation of all analysis and decisions.
• Work collaboratively with colleagues across Regulatory Finance to support the team’s contribution to the overall Ofgem work plan.
• Lead training in area of expertise and actively support the development of colleagues.

 

 

Key Stakeholder Relationships

Internal

• Team, Workstream and Portfolio Managers
• Experts/Technical Specialists
• Heads of Professions
• Professional Development Leads
• Profession Officers

External

• Other Government Departments
• Other Regulators, including UKRN
• Regulator counterparts, consultants, academia, and think tanks (as appropriate)
• Energy Sector companies
• Investor community, including rating agencies

 

Essential Criteria          

• Have a recognised finance qualification, eg CCAB, CFA, MSc Finance or have relevant finance or commercial experience, that can be demonstrated by proven record of high performance and substantial achievements in past positions. (LEAD)
• Experience of applying financial techniques and equity-related analysis in relation to economic regulation.(LEAD)
• Excellent written and verbal communication skills to communicate effectively complex issues to non-expert audiences with the ability to process and communicate complex information and data to senior stakeholders.
• Proven experience of working across organisations and influencing outcomes with extensive experience of working collaboratively within a diverse team

Benefits

Alongside your salary of £56,000, OFGEM contributes £15,120 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.

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.