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 be able to communicate complex 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

Organisation Purpose  

The current energy market environment is unprecedented, with geopolitical issues leading to volatility in global energy prices. 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.  

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

Key Responsibilities of this Role 

• Provide high-quality advice and guidance on matters relating to equity and/or debt financing and finance ability issues across the sub-sectors that Ofgem regulates. 
• Contribute to work on allowed returns, finance ability and financial resilience 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 corporate financing, structuring 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 
• Investor community, including rating agencies 

Person specification

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 criteria) 
• Experience in financial analysis gained in regulatory, banking or investment-focused roles. (Lead criteria) 
• 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 £43,650, OFGEM contributes £11,785 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.