Regulatory Compliance Analyst

Job Description

Position

Regulatory Compliance Analyst

Reporting to

Regulatory Compliance Manager

Function

Strategy & Regulation

Location

Energy House, Three Bridges, RH10 1EX.

Reference Number

60870

Employment Period

Permanent

Contract Type

Personal Contract

CiP / Bonus

5%

Starting Salary

£42,000 – Plus benefits and bonus

Closing Date

04/08/2021

 

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 help manage regulatory compliance across the full suite of regulations and licence conditions UK Power Networks must follow. To work with various teams in the wider business to ensure that UK Power Networks reports information accurately, both for internal and external reporting purposes. This will involve communicating with important partners 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
  • You will coordinate wider teams to gather data and evidence to support analysis or provide to other parties such as the regulator
  • Develop robust, well-justified positions on important topics based on sound analysis
  • You will engagement with partners 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
  • You will produce materials to arrange meetings and discussions on the topics of licence and regulatory reporting changes
  • Help prepare responses to consultations from the regulator and other industry parties
  • Measure the impacts of changes for internal purposes and to inform business arrangements to ensure continued compliance in an organised manner.
  • Manage population, checking and assurance and sign off of regulatory submissions/returns.

Scope

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

 

NATURE AND SCOPE:

 

The role of the Regulation team in the Customer Service, Strategy, Regulation & IS directorate is to 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 manage the following:

  • Promote 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;
  • Work with the regulator and wider industry to develop changes to industry arrangements;
  • Manage changes to the Distribution Licence to give effect to regulatory change;
  • Manage the submission of all regulatory returns to Ofgem;
  • Identify regulatory compliance issues and the management of their resolution; and
  • Contribute 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:

 

  • We ask that you have analytical and problem-solving skills as the role will include qualitative and quantitative elements
  • Experience 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 interpersonal and presentational skills
  • Strong written skills are required to promote the ability to communicate internally and external responses to consultations etc.
  • Strong numeric skills are required to understand data and assess its accuracy as part of regulatory returns/submissions process
  • The ability to work with all levels of the business adapting the level of detail and tone
  • A desire to want 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 will ensure 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 will understand those impacts and the controls they must ensure are applied. 

If in doubt ask!

 

We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender, gender identity or expression, or veteran status. We are proud to be an equal opportunity workplace.