About the job

Job summary

Ofgem works on behalf of energy consumers to ensure that every household and business in the UK can rely on a safe and sustainable energy supply.
 
What we do matters: making a difference to people’s lives now, and for generations to come. We offer a diverse range of flexible working career opportunities: roles that are stimulating and rewarding. And it’s important to us that we recruit from a wide range of professional and personal backgrounds – bringing different perspectives and experiences to our work.
 
To promote a financially efficient and resilient market, our Financial Advisory sub profession provides financial advice and analysis on a wide range of market and regulatory finance issues, leads on the operationalisation and implementation of Ofgem’s RIIO price controls and undertakes market monitoring activity. It has sub-teams in Corporate Finance, Finance Policy, Strategic Planning and IR, Regulatory Reporting, Financial Modelling and Retail Financial Monitoring. The Corporate Finance team plays a vital part in providing expert financial advice on the cost of capital, finance ability, capital structuring and raising and financial resilience in order to influence critical policy decisions. In this role you will conduct analysis to support the provision of a wide range of technical, commercial and strategic advice, for example, to justify the cost of equity and cost of debt for Networks price control setting or to assess comparators for justifying the notional gearing for new low carbon RAB markets.

It’s a role that will suit someone with a high level of financial and/or commercial expertise gained through a regulatory and economic environment or a financial institution. You will have excellent credit and risk assessment skills, including understanding of complex financing structures and derivative products, and be able to communicate complex credit issues to non-specialist audiences, both verbally and via written communications. 

Within this role you will be part of the Analysis profession within Ofgem, where you will be supported with all aspects of professional and personal development from the profession and our fantastic L&D offering, which includes support for undertaking study for further qualifications.
 
Ofgem is proud to be an equal opportunity employer. We embrace diversity and are committed to creating an inclusive environment for all employees. All employment is decided on the basis of open and fair competition, merit and business need.

For more opportunities and industry news, become a member of Ofgem Analysis and Economics Recruitment Network group on LinkedIn - https://www.linkedin.com/groups/12747983/ 

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 as well as leading on the operationalisation and implementation of Ofgem’s RIIO price controls. It has sub-teams in Corporate Finance, Finance Policy, Strategic Planning and IR, Regulatory Reporting, Commercial Advisory, Retail Financial Monitoring Financial Modelling.

We are looking for experts with backgrounds in financial or commercial analysis, financial regulation to lead on the financial oversight of the retail market in line with Ofgem’s Financial Responsibility Principle rules, which is a set of requirements upon energy suppliers to minimise the extent of costs to be mutualised in the event of their failure.

Purpose

• Lead on retail market financial and commercial analysis (e.g. Annual Adequacy Self Assessments) to advise on the financial resilience of the retail market and individual suppliers, advising on regulatory interventions and supporting on wider regulatory decision-making. Leverage a wide range of information and analysis from internal and external sources to provide thought leadership on future market trends and driving proactive regulatory actions.
• Be the focal point and expert in multi-disciplinary teams in a specific work area in the context of operating in a Professions and Flexible Resourcing model.
• 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.
• Using your expertise, provide inclusive knowledge sharing, support and development for colleagues that demonstrate commitment to Ofgem values.

Key Responsibilities:

To support the team deliverables by utilising your expertise to ensure  successful outcomes across team members and collaborating teams

• Provide clear and transparent work objectives, milestones and success metrics in your area of expertise to oversee and co-ordinate successful team outcomes.

• Collaborate closely with other teams to manage interdependencies, risks and resourcing to support portfolio delivery.

• Where required, be jointly responsible with the PDL on welfare and pastoral care of all colleagues.

• Demonstrates effective diversity and inclusive team management within their team and the wider organisation.

 Key Outputs and Deliverables

• Use your financial expertise to understand the financial resilience and risk drivers of complex company financial structures across Ofgem, in particular retailers.

• Lead on the coordination of financial analysis, horizon scanning and monitoring activities, ensuring that information flows and programmes of work are effectively managed. Collaborate closely with other teams to manage interdependencies, risks and resourcing to support portfolio delivery.

• Provide expertise and guidance on the financial interdependencies between both licenced and other companies within group structures and be the focal point for technical and commercial advice relating to company financial structures within Ofgem.

• Design, establish and support policy teams in implementing a regular internal assessment and reporting process for understanding, monitoring and managing the financial resilience of relevant companies, ensuring key stakeholders are updated in a timely fashion.

• Be the focal point for financial resilience across Ofgem and with external stakeholders.

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

• Provide expert finance-related guidance to help team members deliver, by building a supportive, inclusive team environment based on trust-based relationships, transparency and inclusivity;

• Take ownership for continued self-expert development and other team members’ professional development relating to financial resilience by:

-         Identifying your own continued professional development.

-         Providing ongoing coaching and identification of development opportunities for others.

 

Person specification

• Have a recognised finance qualification (e.g. CCAB, CFA) and/or relevant financial/commercial experience, that can be demonstrated by proven record of leading teams and projects at a senior level. (Lead)

• Extensive experience in financial or commercial analysis, or financial regulation, that can be demonstrated by proven record of high performance and substantial achievements in past positions. (Lead)

• Extensive experience of managing a range of internal and external stakeholders and working collaboratively with diverse colleagues
• The ability to prioritise numerous workstreams to meet challenging deadlines.
• Ability to process and communicate complex quantitative and qualitative information and data.

Benefits

Alongside your salary of £56,000, OFGEM contributes £9,520 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 answer 3 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.

 

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.