Senior Analyst

Cardiff, Glasgow, London

Ofgem works on behalf of energy consumers to ensure that every household and business in Great Britian 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’s important to us that we recruit from a wide range of professional and personal backgrounds – bringing different perspectives and experiences to our work.

This role is part of our Price Cap Policy team which plays a central role in reviewing and updating the methodology underpinning the Price Cap and affecting millions of customers. We take a key role in understanding the impact of trends and developments in the retail energy market on customers and energy suppliers through the price cap.

As a Senior Analyst in the Price Cap Policy Team you will play a leading role in helping to develop changes to the Price Cap methodology where appropriate. You will be responsible for leading on the development of analysis that will input into well evidenced policy positions, along with evaluating the impacts of these policies and regulation on the market.

Analysis is core to our team, and we welcome applicants with a background in analytical subjects such as economics and / or strong quantitative and qualitative analysis skills, especially those with a background of applying high quality analysis in a policy context. You should have a proven track record working with analytical software, particularly in working with Excel. Good communication skills (in person and in writing) are essential, including the ability to simplify complex subject matter for different audiences. And you should be a highly effective team worker – accustomed to working effectively with a range of stakeholders and managing team members. It’s likely that you hold a degree in a subject with an analytical focus, or you will have developed equivalent expertise through practical experience in your career to date.

Within this role you will be part of our Analysis profession in which you will be supported across the profession on any personal and professional development and the opportunity to work flexibility across projects across the profession.

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.

 

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 are playing a vital part in accelerating the transition to Net Zero and a carbon neutral energy system – a goal that everyone wants to achieve.  Whatever your role, you’ll be playing your part in creating new energy solutions that are great for customers, and great for the environment. 

Ofgem has a culture of inclusion that encourages, supports and celebrates the diverse voices and experiences of our colleagues. It fuels our innovation and helps ensure we can best represent the consumers and the communities we serve. Everyone is welcome – as an inclusive workplace, our employees are comfortable bringing their authentic selves to work. 

The default tariff cap was introduced in January 2019 and protects over 15 million customers on default tariffs. Our team works collaboratively updating the cap methodology to ensure changes in the market are reflected in the cap design where needed. In doing so, we put consumer protection at the heart of our decision making. We aim to ensure default tariff customers are charged a fair price.  

Changes to the design of the price cap 

In light of recent events in the market and regulatory space, Ofgem is currently consulting on whether a number of adjustments to the cap would be appropriate alongside wider reviews of particular cost allowances.  

The Price Cap Policy teams are responsible for: 

• reviewing and changing elements of the price cap methodology where appropriate, which includes forming well-evidenced policy positions. 
• setting out a clear forward work program to give stakeholders visibility of changes. 
• planning and implementing changes. 
• setting the strategic direction of the cap in line with other Retail priorities. 

We work collaboratively across the wider price cap teams to implement policy changes to the cap in line with consumers’ interests, and to consider what measures could follow the default tariff cap and how this links into Ofgem’s strategy. The team carry out an interesting mix of policy design, analysis, drafting and external stakeholder engagement, while working closely with colleagues across Ofgem. 

This is a great opportunity to be involved with setting policy related to the default tariff cap and affecting millions of consumers. You will also be helping shape policy at a time when the retail energy market is undergoing significant change. 

Your work will directly impact the level of protection of default tariff customers across GB. To be successful at the role, the successful candidate will apply good judgement to sometimes ambiguous or incomplete information in order to deliver the regulatory changes needed. Moreover, the successful candidate understands and is comfortable in delivering projects in line with fixed regulatory deadlines. 

To be successful at the role, the successful candidate will be able to navigate and understand complex models quickly, will have a strong track record of delivering analytical outputs in a fast-paced environment, and will be able to communicate complex information effectively to a range of internal and external stakeholders.

Future Retail Analysis

We are also looking for a Senior Analyst to join the Future Retail Analytical team and deployed in the Future Retail Markets Portfolio which sits within the Market Directorate. As a portfolio we ensure that consumers are protected and empowered through policy development, working to encourage new business models and propositions, and engaging with a wide range of stakeholders to gather insights into industry behaviour and consumers’ needs.  As a team we have adopted an agile delivery style which helps us deliver at pace, focus on delivering value with user needs at the centre.  

We are currently focussing on a number of priority projects to deliver real improvements to support both current and future consumers, including those in the most vulnerable circumstances and non-domestic consumers. Recent examples of where the analytical team has been deployed across the portfolio include developing the case for change for retail market reforms, conducting impact assessments for key policy projects on improving customer service and detailed analysis of market monitoring data to inform regulatory compliance assessments. 

The roles  

We are hiring Senior Analysts to play a leading role in developing and delivering policy changes for Price Cap updates or future retail policy. We work flexibly, providing ample opportunities to work on a range of important analytical and high-profile work related to the price cap and future retail policy.

Key Outputs and Deliverables 

• Responsibility for developing and evidencing changes to price cap policy or future retail policy.
• Produce high quality internal working papers to support senior management and the Authority’s decisions; and also produce high quality external documentation including statutory consultations. 
• Plan for and complete expert quality analysis to assess policy options. 
• Provide expert, authoritative, impartial and accurate information and analysis to support wider team deliverables. 
• Identify interdependencies and work collaboratively with other experts across Ofgem. Engaging with other policy teams and legal advisors. 

Key Stakeholder Relationships 

Internal  

• Head of Price Cap Policy  
• Wider Retail Price Protection team 
• Retail Division Senior Civil Servant leadership team 
• Heads of individual teams within Retail Division 
• Head of Analytical Strategy & Development, Office of Research and Economics 
• Heads of Policy and Analysis in other Divisions 
• Office for Research and Economists and the analytical community 
• Legal colleagues 
• Communications team 

External 

• Industry, including energy suppliers and industry bodies 
• Consumer groups and bodies (e.g. Citizens Advice, Ombudsman Services: Energy)

Essential Criteria

• Analytical skills – Strong quantitative skills using a range of methods and demonstrable experience of conducting complex analysis / modelling; May include evidence of applying economics and competition analysis (including financial analysis) to relevant markets (Lead criteria). 
• Communication skills – the ability to communicate complex and often technical issues clearly and effectively with both experts and non-experts. 
• Stakeholder management skills – ability to communicate credibly and effectively with stakeholders at all levels as part of a targeted stakeholder management strategy. 
• Policy skills – policy analysis and policy writing skills with demonstrable application of those skills to policy development, consultation, decision-making processes and implementation. 
• Organisational skills – proven experience of working at pace whilst leading analytical projects to support policy decisions. Including the ability to proactively prioritise, plan and schedule complex tasks and demonstrate problem solving skills. 

Desirable Criteria

• Energy industry or regulatory expertise – good understanding of the price cap and experience of working on energy policy and/or regulatory issues, either in government/regulator or in industry. 

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

• Making Effective Decisions
• Communicating and Influencing
• Delivering at Pace

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

• Please refer to the Candidate Pack and Role Profile attached for full details.

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.

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