Lead Regulatory Finance Analyst

Job Introduction

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.

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.

Ideal candidate

We’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.