About the job

Job summary

Shape the financing of the energy sector by taking a leading role in debt advisory.  
 
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 debt and credit, 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 debt and finance ability issues, including Ofgem’s financial resilience work across the organisation.  
 
With a background in a regulatory or economic environment or a financial institution, you’ll bring extensive debt and financing experience. 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 debt structures such as securitisations, financial covenants and ratings agency methodologies 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.

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

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 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 debt financing and finance ability issues across the sub-sectors that Ofgem regulates. 
• Contribute to work on allowed debt returns and finance ability 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 debt 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. 

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 debt capital markets, asset origination, debt advisory, credit analysis or other corporate debt-specific specialities. (Lead criteria) 
• Experience of processing and communicating complex financial information and data to varied audiences. 
• 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.