Finance Manager - Business Case & Benefits

Job Description

About the role: 

Are you an accomplished Transformation Finance Manager who is ready to support our new and inspiring Water Networks Transformation team to set the direction for change?  This is a fantastic opportunity to fundamentally change how we operate and set ourselves up for future success. You will do this by harnessing the passion of our people and technology advancements to support our transformational journey and ambition. 

This role is critical to our AMP7 Plan and future success of our Water Networks business, making changes to both our service and delivery to achieve our Purpose of which we are very proud, “to deliver life’s essential service, so our customers, communities and the environment can thrive”.

We are key workers, committed to our Values, reaching higher and being better every day to achieve our Purpose under these challenging circumstances, doing the best for our customers and the environment.

The Water Network delivery approach is radically changing in the next few years.
With Customer Experience and Delivery Efficiency at its core, the Transformation will look at new and innovative ways to deliver the services required with a balance between internal and external outsource activities.  This role will be critical in looking at understanding the internal business requirements and helping define, source, contract those activities that should be delivered by the 3rd Party Supply Chain.

This role is to lead the Economics, Business Case and Benefits workstream, which sits within the Water Networks Transformation Programme (WNTX). WNTX seeks to radically transform the Water Networks operating model, end-to-end.

This workstream’s primary objective is to build the economic case for transformation (i.e. an overall business case), and provide confidence around its delivery through a benefits realisation plan, to support Executive decision making.

This is a leadership role which serves as the ‘financial conscience’ for the programme through high support and high challenge. It will require a mix of analytical and stakeholder management skills. The successful candidate will work closely with the workstream leads and other stakeholders to ensure there is a robust business case behind all proposed changes and the benefits are underwritten by robust delivery plans.

The duration of the contract will be 18 months. 

Key Accountabilities:
Prepare the business case proposal (BCP) to support the final Go/No-Go decision on implementation. Prepare interim drafts to support decisions at intermediate milestones where required
  • The benefits case in accordance with the Benefits Breakdown Structure and agreed programme outcomes
  • Financial resource requirements in accordance with the Cost Breakdown Structure
  • The confidence level for benefits realisation (target: P80 or above)
Create a benefits realisation plan (BRP)
  • Establish a detailed BRP for the programme (financial and non-financial) with, wherever possible, measurable outcomes, linkage to requirements and assignment to scope
  • Provide a Benefits Breakdown Structure and assign benefits realisation accountability in line with the programme organisation structure
  • Profile the benefits plan in alignment with the programme schedule
  • Input to the Workstream Leads on detailed design and the prioritisation of the work, based on benefit value, to maximise benefit realisation
  • Identify milestones at which the level of confidence of benefits realisation can be established and measure this level
  • Identify risks and opportunities to the benefits case relating to design decisions and plans
Support PMO Director and Workstream Leads in developing the benefits measurement framework (BMF)
  • Create tiered financial KPIs to baseline and track the efficiency, productivity and performance of the target operating model, linking these to non-financial KPIs where relevant
  • Establish cost baselines and targets at a programme level and more granular levels (workstream, regional, process, journey levels etc)
  • Identify delivered financial benefits through supporting the measurement of WNTX improvements against a baseline, providing assurance and subject matter expertise support for the Workstream Leads
  • Handover the BRM and BMF to BAU management and support them take on ongoing ownership
Establish and maintain the TX Programme budget and reporting
  • Establish a budget baseline and a monthly cadence for cost governance (tracking actual cost vs baseline, updating forecasts etc)
  • Provide a Cost Breakdown Structure and assign budget accountability in line with the programme organisation structure as appropriate
Support the PMO Director on the creation of a Programme Charter
  • Use established templates and populate with input from Phase 1 materials, PMO materials (RAIDO, programme schedule etc) and workstream leads, as relevant
Best practice leadership
  • Support, coach and challenge programme stakeholders (particularly project leads and their teams) in relation to best practice for developing robust business cases and realisation plans
Governance, reporting and ad hoc support
  • Build governance, reporting and insight collateral, such as KPI trackers, reporting templates etc, to allow for tracking of actuals against the BRP
  • Support the development of handover materials for business integration and BAU Finance teams
  • Support the PMO Director in producing ad hoc materials for presenting to senior stakeholders, including the WNTX Director, Executive Steering Group, shareholders and Board members
To be successful you will have the following skills and experience: 
  • Degree level or equivalent in a business or professional (e.g. finance) discipline
  • Additional relevant qualifications e.g. in accounting, investments or business management
  • Finance manager, business partner or management consulting experience
  • Financial modelling experience
  • Experience with business cases, cost-benefit proposals, investment appraisals or benefits tracking
  • Experience working on a project (transformation, CI, cost reduction or other)
  • Highly analytical with strong attention to detail. Comfortable working with numbers
  • Ability to understand complex ideas and data (financial and non-financial) to generate insight and articulate key findings and recommendations
  • Leadership skills and ability to champion the financial agenda amongst a diverse range of stakeholders
  • Desire to build relationships and work collaboratively across a diverse set of stakeholders to achieve a common goal
  • A self-starter who takes ownership for seeing a deliverable through to completion. Effective at identifying issues early and escalating these appropriately
  • Prioritises effectively in a high-pressure, uncertain environment to deliver stable performance
What’s in it for you: 

This is a rare opportunity to make a real difference to a business and cultural transformation. You will be a leader in a programme that is fundamental to the success of Thames Water and one of our key business priorities for the next AMP.  

This is an exciting and challenging time for our business as a whole and the water industry. A backdrop of climate change and population growth is putting pressure on our existing water resources and in turn driving the need for a series of significant investments in our assets. The projects we will develop and deliver in the next 5 to 15 years, will leave a lasting legacy for future generations across London, the South East and the UK. 


Our competitive salary and package include a competitive bonus, car allowance, private healthcare, an excellent contributory pension, 26 days holiday. There is also a wider benefits scheme which includes an annual pay review, season ticket loans and loyalty awards for continuous service plus discounts at a wide range of retailers via Benefits on Taps. 

We also have a referral scheme, where you can receive £750 for helping someone get a permanent position within the company.  

 We’re proud to be here for our local community, offering everyone two days paid volunteer leave a year, as well as proudly supporting a lot of local events and charities.   

About us: 

Thames Water is the UK’s largest water and wastewater company. We make a daily difference to millions of customers by supplying 2.7 billion litres of world-class water to around 10 million homes. 

As our world changes, the need to take care of our most precious resource is greater than ever, both locally and globally. That’s why, at Thames Water, every one of our actions, big and small, matters every day. Water is essential to daily life, and that means our business is always open. We’re passionate about providing world-class tap water, now and for the future. 

We’re also turning waste into power, self-generating 20% of the energy we use and, in turn, doing our bit for the planet. We’re reducing plastic waste by celebrating our tap water and rolling out an ambitious water fountain project. We’re using our voice to lobby for change and partnering with WaterAid to provide clean water to the world’s poorest communities.

Together, we’re building a better future for our customers, our region and our planet.  
Thames Water is a unique, rewarding and diverse place to work. If you join our team, you’ll enjoy fast-tracked career opportunities, flexible working arrangements and unparalleled benefits. We’re also proud to be an equal opportunity employer, Stonewall Diversity Champion and Disability Confident Leader, welcoming individuals from all walks of life and leading the way with award-winning mental health and well-being strategy.