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- Tasks: Join Ofwat as a Financial Economist, focusing on allowed return on equity and supporting CMA representations.
- Company: Ofwat regulates the water sector in England and Wales, ensuring fair water bills and accountability.
- Benefits: Enjoy hybrid working, generous leave, pension contributions, and exclusive discounts.
- Why this job: Make a meaningful impact on water resilience while developing your skills in an innovative environment.
- Qualifications: Experience with statistical software, financial economics knowledge, and advanced Excel skills required.
- Other info: Flexible work-life balance with opportunities for volunteering and professional development.
The predicted salary is between 36000 - 60000 £ per year.
Join Ofwat's Risk and Return Team as a Financial Economist.
About Us
We are Ofwat, the Water Services Regulation Authority, a non-ministerial government department responsible for regulating the water sector in England and Wales. Our work has genuine significance – no other organisation does the work we do. It’s unique and meaningful: keeping our water flowing; ensuring water bills don’t cost a penny more than needed; holding water companies to account. Come and work at the source of everyday life.
The Role
We are looking for a Financial Economist to join our Risk and Return team. You will initially join the Allowed return on capital workstream, supporting work concerning the allowed return on equity.
In February several companies asked us to refer our PR24 determinations to the Competition and Markets Authority (CMA) for a redetermination, a process that could potentially last until March 2026. All companies have challenged our approach to setting the allowed return on equity. The successful candidate will therefore initially support Ofwat in making representations to the CMA to support our position, responding to its enquiries, and in considering its redetermined proposals.
The role will be impactful. The allowed return is responsible for approximately a quarter of the average water bill; thus fractions of a percentage point can have an impact of hundreds of millions of pounds. In addition, the results of the CMA appeals process are likely to have important repercussions to the way the allowed return is set in other economically regulated sectors (e.g. energy, telecoms, and aviation).
About You
Below are some of the key essential experience, skills & knowledge required for this post:
- Applied experience with statistical software packages used in financial economics (for instance one or more of: STATA, R, EViews, Python).
- Understanding and working knowledge of financial economics and/or corporate finance related to the cost of equity, specifically the Capital Asset Pricing Model.
- Experience in applying financial economics and/or financial analysis in a public sector or commercial setting (e.g. regulator, competition authority, consultancy or regulated firm).
- Advanced Microsoft Excel skills (VLOOKUP, SUMIFS, AVERAGEIFS, INDEX(MATCH) and in addition a familiarity with array formulae and VBA or willingness to learn).
- Good written and oral communication skills, including the ability to understand and concisely explain complex issues in non-technical language.
Why You Should Join Us:
- Meaningful Impact: You will be joining a team with a sense of mission at its core aiming to build a lasting legacy for future generations by securing our long-term water resilience.
- Innovative Work Environment: We embrace agile and new ways of working and have a culture built on trust, flexibility, and collaboration.
- Development Opportunities: Gain valuable experience and develop your skills in a supportive and dynamic setting.
- Work-Life Balance: Enjoy the flexibility of working from home combined with the benefits of in person collaboration in our London or Birmingham offices.
- Fantastic employer pension contribution of nearly 30%.
- 25 days’ annual leave, increasing to 30 with each year of service, plus bank holidays and an extra 2.5 days of privilege leave.
- Access to exclusive discounts on a variety of goods and services, including retail outlets, theatre tickets, holidays, insurance, and a gym membership.
- Fees paid for membership of relevant professional bodies.
- Up to 3 volunteering days per year.
- Recognition vouchers scheme rewarding your hard work.
- Generous shared parental leave and pay supporting your family life.
Closing date: 23.55 on 17 July 2025.
Financial Economist employer: Ofwat
Contact Detail:
Ofwat Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Financial Economist
✨Tip Number 1
Familiarise yourself with the key statistical software packages mentioned in the job description, such as STATA, R, or Python. Consider taking online courses or tutorials to enhance your skills and demonstrate your proficiency during interviews.
✨Tip Number 2
Stay updated on current trends and developments in financial economics, particularly regarding the Capital Asset Pricing Model. This knowledge will not only help you in interviews but also show your genuine interest in the field.
✨Tip Number 3
Network with professionals in the public sector or regulatory bodies. Attend industry events or webinars to connect with people who can provide insights into the role and potentially refer you to opportunities at Ofwat.
✨Tip Number 4
Prepare to discuss your experience with financial analysis in a public sector context. Think of specific examples where you've applied your skills, as this will be crucial in demonstrating your fit for the role during interviews.
We think you need these skills to ace Financial Economist
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities of a Financial Economist at Ofwat. Familiarise yourself with the allowed return on capital workstream and the significance of the role in the context of water regulation.
Highlight Relevant Experience: In your CV and cover letter, emphasise your applied experience with statistical software packages like STATA, R, or Python. Mention any relevant projects or roles where you applied financial economics or corporate finance, especially related to the cost of equity.
Showcase Communication Skills: Since good written and oral communication skills are essential for this role, provide examples in your application that demonstrate your ability to explain complex issues in simple terms. This could be through previous job experiences or academic presentations.
Tailor Your Application: Make sure to tailor your application specifically for Ofwat. Use keywords from the job description and align your skills and experiences with the requirements listed. This shows that you have taken the time to understand what they are looking for.
How to prepare for a job interview at Ofwat
✨Showcase Your Technical Skills
Make sure to highlight your experience with statistical software packages like STATA, R, or Python. Be prepared to discuss specific projects where you applied these tools, as this role requires a solid understanding of financial economics.
✨Understand the Role's Impact
Familiarise yourself with how the allowed return on equity affects water bills and the broader implications for other regulated sectors. Being able to articulate this will demonstrate your understanding of the significance of the role.
✨Communicate Clearly
Practice explaining complex financial concepts in simple terms. Good written and oral communication skills are essential, so think about how you can convey your ideas clearly and concisely during the interview.
✨Prepare for Scenario Questions
Expect questions that assess your problem-solving abilities in real-world scenarios. Think about past experiences where you had to analyse data or make recommendations based on financial analysis, and be ready to discuss these examples.
