Regulatory Compliance Analyst

  • Job Reference: 47625
  • Date Posted: 23 December 2019
  • Employer: UK Power Networks
  • Location: Crawley, Sussex
  • Salary: On Application
  • Bonus/Benefits: £39,000 – Plus benefits and bonus
  • Sector: Engineering & Technical
  • Job Type: Contract
  • Duration: Fixed Term Contract – ( 18 – 24 Months )
  • Work Hours: Full Time

Job Description

Position

Regulatory Compliance Analyst

Reporting to

Regulatory Compliance Manager

Function

Strategy & Regulation

Location

Energy House, Three Bridges, RH10 1EX.

Reference Number

47625

Employment Period

Fixed Term Contract – ( 18 – 24 Months )

Contract Type

Personal Contract

CiP Level / Bonus

5%

Starting Salary

£39,000 – Plus benefits and bonus

Closing Date

10/01/2020

 

All applications will be reviewed after the closing date

 

We also offer : 

Annual leave 25 days

Personal Pension Plan – Personal contribution rates of 4% or 5% (UK Power Networks will make a corresponding contribution of 8% or 10%)

Tenancy Loan Deposit scheme 

Tax efficient benefits: cycle to work scheme

Season ticket loan

Occupational Health support

Switched On – scheme providing discount on hundreds of retailers products.

Supplier discounts, such as O2, EE, Vauxhall cars, Universal tyres

Discounted access to sports and social clubs

Employee Assistance Programme.

 

JOB PURPOSE:

To support the management of regulatory compliance across the full suite of regulations and licence conditions UK Power Networks must adhere to. To work with various teams in the wider business to ensure that UK Power Networks reports data and information accurately and consistently, both for internal and external reporting purposes.  This will entail communicating with key stakeholders such as Ofgem, BEIS and other third parties.

 

DIMENSIONS:

UK Power Networks holds three Distribution Licences which provide a combined:

UK Power Networks Regulated Asset Value (RAV): £6.2billion

Annual turnover: £1.5billion

Available annual incentives: £78million

 

PRINCIPAL ACCOUNTABILITIES:

Activities

  • Quantitative and qualitative analysis of changes to regulatory/industry arrangements focusing on impacts to UK Power Networks and its customers
  • Coordination of wider teams to gather data, information and evidence to support analysis or provide to other parties such as the regulator
  • Developing robust, well-justified positions on key topics based on sound analysis
  • Engagement with stakeholders to communicate the results of analysis and the impacts of any proposed or potential changes
  • Engagement with peers and all levels of management including Executive Management Team
  • Producing materials to facilitate meetings and discussions on the topics of licence and regulatory reporting changes
  • Assist in the preparation of responses to consultations from the regulator and other industry parties
  • Quantifying the impacts of changes for internal purposes and to inform business arrangements to ensure continued compliance in an efficient and effective manner

Scope

  • Internal process analysis to determine the impact of licence and regulatory reporting changes
  • Licence modifications to facilitate regulatory change, including giving effect to the next price control, RIIO-ED2
  • Consultation responses
  • Engagement sessions with the regulator and other industry bodies

 

NATURE AND SCOPE:

The role of the Regulation team in the Safety, Strategy & Support Services Directorate is to proactively develop and implement regulatory strategy. This involves monitoring and reporting against regulatory obligations and achieving a fair regulatory settlement for UK Power Networks and its customers.

The Regulation team are responsible for:

  • Promoting, negotiating and positively influencing regulatory policy by engaging bodies such as Ofgem and BEIS. For example, this includes the management of responses to consultations by these bodies;
  • Working with the regulator and wider industry to develop and implement changes to industry arrangements;
  • Managing changes to the Distribution Licence to give effect to regulatory change;
  • Managing the accurate submission of all regulatory returns to Ofgem;
  • Identification of regulatory compliance issues and the management of their resolution; and
  • Contributing to strategic projects to achieve the UK Power Networks’ vision of being an 'employer of choice', 'a respected and trusted corporate citizen' and 'sustainably cost efficient'.

 

SKILLS, QUALIFICATIONS AND EXPERIENCE:

  • Analytical and problem-solving skills as the role will include qualitative and quantitative elements
  • Experience of working in a regulated environment including exposure to licence conditions and regulatory reporting requirements
  • Ability to work independently, applying skills to diverse pieces of work
  • Clear evidence of managing several projects concurrently and proactively taking forward work
  • Good inter-personal and presentational skills
  • Strong written skills are required to enable the ability to communicate internally and external responses to consultations etc.
  • The ability to work with all levels of the business, from front line staff through to senior management, appropriately adapting the level of detail and tone
  • A desire to seek to understand more and ask questions to ensure data is accurate and the answers being given are correct
  • A degree in economics, accounting, law or equivalent work experience. 

 

Health & Safety Responsibilities

Managers and supervisors carry both legal and company responsibilities for ensuring the health and safety of their employees, those under their control and those who might be affected by the work undertaken, i.e. public, visitors and employees of other organisations. This includes briefing individuals working for them and ensuring there is the necessary understanding, competence and application of requirements to work safely and without harming the environment.

Employees are responsible for ensuring they fully understand the health and safety risks involved in their work activities and their responsibility to apply the controls needed to manage those risks to acceptable levels. Similarly where work activities can have an adverse impact upon the environment, and particularly where there are legal requirements, employees are responsible for understanding those impacts and the controls they must ensure are applied. 

If in doubt ask!