About the job

Summary

Ofwat (the Water Services Regulation Authority) is the economic regulator of the water and wastewater sector in England and Wales. Our role is to ensure water companies deliver for customers, the environment and wider society. Ofwat has an ambitious new strategy and as a regulator we are setting ourselves up to achieve and equal the ambition of this new strategy. It matters to us that things on the ground really change so that our impact on customers, the environment and the future of water is tangible and meaningful.

Our work is high-profile and fast-moving, within a dynamic and agile environment. The work that you’ll be involved in every day will be about helping us to deliver our strategy, helping to us to be the regulator we want to be and helping the sector to deliver outcomes that matter to customers and society. Our strategy sets out the role Ofwat will play. We will adapt, be confident, act with purpose and integrity and continuously improve so that we make the greatest contribution possible to improving life through water.

We need to grow our team to help us deliver our strategy and make sure water companies are doing all they can to deliver for customers, the environment and wider society and deliver meaningful change to the sector. As part of this we are looking to recruit a Principal Economist to join the 2024 price review.

Job description

The role is at Principal level and will have responsibility for leading on key areas of economic analysis and policy development. The role will require a variety of expertise including:

• Knowledge of microeconomics and its application to economic regulation.

• Ability to produce high quality and robust numerical and policy analysis to tight timescales.

• Ability to identify economic issues and develop options in the context of policy development.

• Ability to manage and develop others.

• Continued self-development to help ensure that Ofwat stays at the forefront of economic thinking.

• Working with multidisciplinary teams including accountants, engineers, lawyers and policy specialists.

• Engaging with companies and other stakeholders to develop and test new approaches.

For the role in cost assessment the role will involve the developing and applying an approach for the assessment of specific categories of costs (including cost benchmarking) and the development of related cost efficiency incentives. It could also involve the development of markets and wider improvements to the regulatory framework.

Although we are actively seeking Principal level candidates, we will also consider good applications that will be appropriate for a Senior Associate role. A role at Senior Associate level would require a lower level of experience. A Senior Associate would be provided with more support in the role and while they would continue to have responsibility for individual areas of work, these would be smaller and less complex and/or technically challenging.

Responsibilities

In the role in cost assessment you will be expected to:

• Lead the delivery of work in the cost assessment area of the price control, for example, associated with the assessment of enhancement expenditure.

• Undertake numerical and policy economic analysis, including leading on related areas of cost benchmarking and scheme appraisal.

• Develop improvements to our approach, including wider improvements to our regulatory approach and incentives

• Using excellent oral and written communication skills influence and persuade both technical and non-technical stakeholders.

• Critically evaluate and challenge analysis or product of a professional peer.

• Produce high-quality documents and contribute to external publications.

• Work closely with colleagues across Ofwat to align with other areas of work.

Candidates for other areas of the price review would expect a similar level of deliverables focused in alternative areas. All candidates would be expected to have a high level of numeracy.

Behaviours

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

• Making Effective Decisions
• Managing a Quality Service
• Seeing the Big Picture

Benefits

We also offer a range of additional benefits. These include:

• access to our package of benefits via our ‘Edenred’ scheme. This is a voluntary benefits scheme where staff have access to exclusive discounts on a range of goods and services such as retail outlets, theatre tickets, holidays, insurance and gym membership;

• cycle-to-work scheme;

• season ticket loan for travel between home and office;

• flexible working arrangements;

• fees paid for membership of relevant professional bodies;

• regular professional development;

• health and wellbeing initiatives; and

• free eye tests and contribution towards lenses/spectacles for VDU users, if appropriate

Things you need to know

Security

Successful candidates must pass a disclosure and barring security check.

People working with government assets must complete basic personnel security standard checks.

Selection process details

This vacancy is using Success Profiles, and will assess your Behaviours and Experience.

Applicants should apply through the Civil Service Jobs website. You will be asked to create an account and complete an application form. If you are unable to make an electronic application, you may submit your application on paper. Please contact us to find out how at recruitment@ofwat.gov.uk

Feedback will only be provided if you attend an interview or assessment.

Nationality requirements

This job is broadly open to the following groups:

• UK nationals
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the Republic of Ireland
• nationals from the EU, EEA or Switzerland with settled or pre-settled status or who apply for either status by the deadline of the European Union Settlement Scheme (EUSS)
• relevant EU, EEA, Swiss or Turkish nationals working in the Civil Service
• relevant EU, EEA, Swiss or Turkish nationals who have built up the right to work in the Civil Service
• certain family members of the relevant EU, EEA, Swiss or Turkish nationals

Further information on nationality requirements

Working for the Civil Service

The Civil Service Code sets out the standards of behaviour expected of civil servants.

We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles.

The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.

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