An opportunity is available for a Lead Regulatory Finance Analyst in NGED (National Grid Electricity Distribution) Regulation. The role will report to the RIIO-ED2 Regulation Manager and will preferably be based at Bristol, Tipton or Castle Donington, however other locations will be considered and this will be agreed with the successful candidate.
The successful candidate will lead a team of regulatory finance analysts and will play a lead role in producing all regulatory cost reporting required by Ofgem and for internal use. You will accelerate analysis-driven regulatory and financial decision making within NGED to achieve an optimum outcome on price controls.
Hybrid working is available, with an expectation of around 2 days per week in the office.
* Personal Contract Manager - Salary circa £77,000 subject to experience.
About UsWe’re National Grid Electricity Distribution (NGED), the owner and operator behind the electricity distribution systems for the Midlands, the Southwest of England and South Wales. Serving communities of more than 8 million people, our expert teams deliver heat, light and power for homes and businesses.
National Grid employs over 29,000 people worldwide. We are building an inclusive workplace, a place to actively celebrate the cultures, personalities and preferences of our colleagues – who in turn help to build the success of our business and reflect the diversity of the communities we serve. Our vision is to be at the heart of a clean, fair and affordable energy future and we are doing this in a fast-moving industry with an increasing focus on tackling climate change, exploring new energy sources that are renewable, low carbon, and improve efficiency to meet demand.
Main Responsibilities
Lead the preparation and submission of all costing information required by Ofgem (£1billion + annual expenditure), especially the annual RRP reporting and RIGs development, ensuring this is prepared on an accurate and timely basis. Plan and co-ordinate the annual production of the Annex B Costs, Volumes and Reporting (CVR) pack and commentary to Ofgem, ensuring all data assurance (DAG) requirements are met and adhered with.
Manage and communicate RIIO-ED2 Totex allowances and changing impacts on these (eg through volumes drivers, Real Price Effects, re-openers etc), and assess performance against these and opportunities for outperformance. Provide senior leadership with regular and accurate regulatory cost reports, dashboards and insights.
Work closely with the NGED Finance teams to prepare totex expenditure forecasts and scenarios. Lead on reporting of these to Ofgem in regulatory reports and commentary.
Own NGED’s Hyperion RRP cost reporting and forecasting system to effectively and efficiently produce all required cost data to a high standard of accuracy, continuously identifying any areas of enhancement required. Monitor and review all associated processes and information sources so as to identify changes to systems required to match changes in regulatory focus and reporting.
Develop, prepare and oversee annual Price Control Deliverables (PCD) reporting, re-opener submissions (~£100m annually) and price control close-out reports, liaising with and challenging departments throughout NGED as required, meeting all Ofgem requirements and leading on interactions with Ofgem.
The Ideal CandidateWe’re ideally looking for a qualified accountant (or someone with equivalent experience), who holds a minimum of a Level 6 qualification in a relevant subject.
The successful candidate will have knowledge and understanding of NGED’s regulatory environment and utility price controls, and knowledge (or the ability to learn quickly) of NGED’s accounting and financial policies, procedures and systems.
You’ll be familiar with reviewing and interpreting regulatory reporting instructions and guidance (RIGs) and have excellent attention to detail, ensuring the integrity and accuracy of analysis and reporting.
We need a clear and effective communicator to be able to identify areas where value can be added, structuring the work required and proactively delivering this.
You’ll also need to demonstrate that you are able to work independently and proactively under pressure and to tight deadlines, producing high quality outputs, whilst being adaptable and able to respond to changing nature of tasks in a regulatory environment.
You will also be experienced in managing, motivating and developing people, supporting them in the timely delivery of their designated actions.
Travel to other locations on an occasional basis forms part of the role; therefore holding a UK driving licence is beneficial.
National Grid Electricity Distribution is committed to safeguarding the interests of the Company, colleagues and customers.
This role is subject to a satisfactory Barring Service (DBS) check. Depending on the role, different levels of screening and vetting are required. Some roles require a triannual check.
About The CompanyJoining the UK’s leading electricity distribution business means plenty of career opportunities and well-deserved recognition. We reward hard work and encourage ambition. So as well as a competitive salary, you will also benefit from:
Annual performance related bonus
28 days annual leave, plus 8 bank holidays
Competitive contributory pension scheme (we double match your contributions up to a maximum of 12%)
Annual Share Save plan
Contributory healthcare for you and your family
Support via our Employee Assistance Programme, including musculoskeletal and physiotherapy services
Free on-site parking at all our main sites
Things you need to know
As an equal opportunities employer who is committed to Diversity, Equity and Inclusion, we celebrate individual difference and are actively bringing in more employees from diverse backgrounds to build on our inclusive culture. We anonymise all applications in our recruitment system so we can eliminate unconscious bias and be a workplace that reflects the community we serve. Hiring managers only have access to necessary information at interview stage. If you require additional support to complete your online application, please email nged.recruitment@nationalgrid.co.uk
Recruitment correspondence is usually sent by email, please check your email account including spam/junk folders regularly after the closing date.
We reserve the right to close the vacancy early should sufficient numbers of suitable applications be received, so it would be best to apply as soon as you can
