Regulatory Finance Analyst

2 weeks ago

Castle Donington Leicestershire, United Kingdom Western Power Distribution Full time

About Us

We'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.

Job Introduction

An opportunity is available for a Regulatory Finance Analyst (Capex) in NGED's ED2 Regulation team, reporting to the Lead Regulatory Analyst. You will specifically focus on Capex RRP reporting and have ownership of NGED's Hyperion Capex model.

As part of the ED2 Regulation team, you will play a key role in providing high quality regulatory data and information, for both internal and external stakeholders, using and enhancing a variety of models, systems and processes.

National Grid Electricity Distribution is at the heart of energy in the UK. The electricity we transport gets the nation to work, powers schools and brings energy to life - connecting the nation. Our business needs to continuously develop and adapt to exceed the expectations of our customers and communities today and to make possible the energy systems of tomorrow. That's why we are looking for people with creativity, drive and originality.

The Regulatory Analysts have a range of responsibilities for provision of information to Ofgem including: business plan data submissions, annual regulatory reporting data submissions, price control re-opener data submissions and ad-hoc data submissions.

The role requires the compilation of data from a variety of business sources in various formats, translation of the data into the format required by the regulator, population of data templates and associated data assurance.

Assurance activities include various approaches to cross-checking and validating data sources, which may require investigation of anomalies and correction of data.

Detailed understanding of reporting rules, which are documented by the regulator in extensive guidance documents. There is an expectation that the role holders represent the company at industry working groups to critique proposals for reporting changes by the regulator and other DNOs and to make proposals for changes. Also, where changes are required, the role requires coordination of those changes into the business.

Compilation of price control forecast information and associated narrative. This requires liaison with various business managers to provide the necessary data and explanations. Once submitted to Ofgem there is a requirement to coordinate/draft responses to supplementary questions.

The review of proposals for changes to regulatory mechanisms that may be proposed by Ofgem or other DNOs as part of establishing price control frameworks. Furthermore, once price control determinations are proposed the role requires a review of the regulatory proposals and cost assessment. Once price control settlements are agreed, there is a requirement to communicate the final outcomes into the business.

Preferably this role will be based out of our Bristol, Castle Donington or Tipton offices, but we can discuss other NGED locations with the successful candidate. We expect to see you in the office 2 days per week.

*Please note the successful candidate may initially be appointed at a lower salary until all relevant courses and/or training are complete.

If you are offered a position, you will be required to successfully complete a basic DBS check that shows any unspent convictions or conditional cautions.

Main responsibilities
  • Responsible for controlling and maintaining regulatory reporting within NGED's Hyperion environment for regulatory Capex. Work closely with the IT development team to develop, test and deliver new models/dashboards as required and future developments of existing models.
  • Undertake monthly runs of the Hyperion Capex model for monthly reporting and pursue issue resolution ahead of year end reporting. Communicate monthly performance updates across NGED through scorecards and other reporting as required, and support forecasting of these activities.
  • Responsible for preparation and submission of allocated sections of the annual Regulatory Reporting Pack (RRP) reporting to Ofgem, providing data input, table population and commentary for range of cost, volume and memo reporting requirements. Liaise across the business to ensure NGED provides detailed explanations for performance.
  • Manage the suite of Budget Codes, including writing guidance, updating CROWN and providing training across the business. Undertake regular project reviews to check that the codes have been used correctly and that regulatory reporting is robust.
  • Provide other high quality regulatory information for submission to OFGEM, including re-opener submissions, consultation responses and information requests. Assist in the analysis, interpretation and implications of regulatory requests and proposals.
  • Attend Ofgem and industry working groups as required, representing NGED.
Ideal candidate

You will have an accounting background and have a good understanding of accounting and financial policies, procedures and systems. You will also be familiar with regulatory reporting and be able to review and interpret regulatory reporting instructions and guidance (RIGs).

It is essential that you have a full understanding of (or the capability to learn quickly) NGED's Hyperion reporting models and good knowledge of NGED's regulatory environment and utility price controls.

We are looking for someone who has the ability to communicate effectively, both verbally and in writing and to work under pressure to tight deadlines, producing high quality outputs. You will need excellent interpersonal skills, representing the team and NGED in a professional manner at all times.

To hit the ground running, you will need excellent computer skills (especially advanced Excel skills), excellent attention to detail, analytical and problem-solving skills and the proven ability to work on your own initiative

Flexible working options may be available and this will be discussed with the successful candidate.

Travel to other locations on an occasional basis forms part of the role and therefore holding a UK driving licence will be beneficial.

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