Associate Financial Analyst

Cardiff, Glasgow, London

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.  
  
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 is 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 resilient market, our Financial Advisory Sub Profession undertake market monitoring activity and provide financial advice and analysis on a wide range of retail market issues. Our team plays a vital part in providing expert financial advice on new market entrants, the financial health of established suppliers, trade sales, market and supplier-specific financial risks and critical policy decisions. Working with a wide range of internal and external stakeholders, you will play a critical part in regularly reviewing retail supplier financial information, advising on market health and regulatory interventions. 

More broadly, you will support Ofgem’s corporate and regulatory finance work across all areas of the organisation, providing corporate and regulatory finance advice to policy and other teams.  

You will ideally have a passion for economic or energy regulation. You will enjoy supporting on projects, requiring minimal supervision and you should offer good all-round communication skills. You should have a good knowledge of analytics and be confident in detailed financial statement analysis. It is important that you can build positive relationships with different stakeholders. 

Within Ofgem you will be part of our Analysis Profession which will support you in all aspects of personal and professional development. Whether it is formal or informal training, further education we are here to support you in your career in Ofgem and the wider Civil Service. This role is an excellent entry level role with lots of avenues in which to progress your career. 

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. 

Please note within Ofgem this role is known as Associate Financial Advisor.  

The current energy market environment is unprecedented. The record increase and volatility in global gas prices has put the market under severe strain and is putting upward pressure on customers’ energy bills. 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.    

After the initial deployment, you will have the opportunity to work flexibly across Ofgem as a member of your Profession, working on cross-Ofgem projects, and/or in teams that require your skills and expertise. 

Within Ofgem this role is known as Associate Financial Advisor. 

Key Responsibilities and Outputs 

• Contribute to analysis and projects with appropriate supervision. 
• Provide supporting analysis on wider retail market interventions or decisions to other Ofgem or wider HMG teams. 
• Work with a wide range of internal and external stakeholders. 
• Using your expertise, provide inclusive knowledge sharing, support and development that demonstrate commitment to Ofgem values. 

To support the team deliverables, utilising your expertise to ensure successful outcomes across the team and wider directorate: 

• Develop an understanding of the complexities of the energy retail market, licence conditions, and reporting frameworks used to collect and analyse financial and operational information from licensees. 
• Assist with reviewing data relating to the financial position and performance of licensees under different stress-testing scenarios and the financial projections submitted by new licence applicants. 
• Deliver work objectives, milestones, and achieve success metrics to a high standard. 
• Collaborate closely with other teams. 

To book your free ticket to our financial advisory event, please visit Ofgem Open Event – Financial Advisory Registration, Wed 15 Nov 2023 at 12:30 , Eventbrite

Essential Criteria

• Good quantitative and qualitative analytical skills, and the ability to analyse complex concepts and how you would use your findings in order to drive decision making. (LEAD) 
• Excellent written and verbal communication skills to communicate effectively complex issues to non-expert audiences. 
• Experience contributing to projects within a team environment working to deadlines set and providing accurate analytical information.

Desirable Criteria

• Experience of working in energy or other regulated sector; for a consultancy, government, or regulator; on policy, regulatory, or energy sector projects. 

We’ll assess you against these behaviours during the selection process:

• Seeing the Big Picture
• Changing and Improving
• Communicating and Influencing
• Delivering at Pace

We’ll assess you against these technical skills during the selection process:

• Please ensure you demonstrate clearly, within your personal statement, how you meet each of the essential and desirable skills and capabilities listed in the Role Profile.

Alongside your salary of £23,450, OFGEM contributes
£6,331 towards you being a member of the Civil Service Defined Benefit Pension scheme.

Find out what benefits a Civil Service Pension provides.

Ofgem can offer you a comprehensive and competitive benefits package which includes; 30 days annual leave after 2 years; Excellent training and development opportunities; The opportunity to join the generous Civil Service pension which also includes a valuable range of benefits; Hybrid working (currently 1 day a week in the office but is in review), flexible working hours and family friendly policies. Plus lots of other benefits including clean and bright offices based centrally, engaged networks and teams and an opportunity to contribute to our ambitious and important targets of establishing a Net Zero energy system by 2050. This exciting blend of professional challenge and personal reward identifies career opportunities at Ofgem as something to get excited about.

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Job contact :

• Name : Jennifer Hughes
• Email : recruitment@ofgem.gov.uk

Recruitment team

• Email : recruitment@ofgem.gov.uk