Specific Minimum Qualifications and Expertise
Essential
- Experience of working in a corporate finance or project finance environment.
- Experience of using financial analysis to understand complex business situations and support management decisions.
- Experience of reaching conclusions from sensitivity analysis and Monte Carlo analysis.
- A recognised relevant qualification (eg ACA, CFA, ACCA, CIMA, CIPFA) or evidence of equivalent understanding of relevant financial accounting concepts and principles from practical experience.
- Understanding of current UK tax legislation.
- Excellent written and oral communication skills, with the ability to represent Ofgem and influence at the highest levels within the industry.
- Ability to work on own initiative to develop recommendations to senior management.
- Ability to evaluate and interpret complex contracts and payment mechanisms.
Desirable
- High level understanding of the concepts and application of economic regulation and/or knowledge of the utility sector and/or familiarity with financial and commercial issues involved in energy infrastructure investment structures.
- Experience of reviewing regulatory or statutory financial information.
- Experience of working in a commercial environment governed by licences.
- Experience of working on a bond issuance, either on the investor side or the issuer side.
- Experience of working on buy side due diligence for an infrastructure transaction.
- Experience in managing consultancy input.
- Experience of working within a multi-disciplinary project driven environment.
- Degree level education.
Purpose
The purpose of this role is to provide relevant, timely financial analysis and/or guidance on the financial consequences of policy, to members of the offshore transmission senior management team. Sometimes this is achieved directly in response to requests from senior management, other times it is indirect and will involve supporting other teams on financial matters.
This role is within the financial analysis team and involves working with specialists in many different disciplines, including technical, legal, regulatory, economic, and commercial experts. This role also offers the opportunity to gain a broad understanding of the UK energy infrastructure market, through involvement in ad hoc tasks and special projects as they arise.
Key Outputs and Deliverables
- Leading work on the review of regulatory reporting to assess financial stability and performance of offshore transmission licensees.
- Production of the annual compliance report.
- Develop regular reporting, monitoring and review procedures to ensure smoother less resource intensive reporting, monitoring and compliance.
- Contributing to Board, Executive Committee and consultation papers. Contribute to cross-directorate and cross-Ofgem initiatives, as appropriate.
Key Stakeholder Relationships
This role reports to the Head of Financial Analysis. Other key relationships in this role are likely to be with:
- Colleagues throughout the offshore transmission team.
- Colleagues in other parts of Ofgem and Ofgem E-Serve.
- Offshore transmission licensees and bidders.
- The European Investment Bank, Credit rating agencies, HMRC, DECC.
Key Accountabilities
- Responsibility for on-time delivery of financial reports.
