At a Glance
- Tasks: Contribute to modelling processes and ensure accurate delivery of regulatory commitments.
- Company: Join Ofwat, the Water Services Regulation Authority, making a real impact in the water sector.
- Benefits: Enjoy flexible working, competitive salary, generous leave, and professional development opportunities.
- Other info: Dynamic work culture with a focus on collaboration and innovation.
- Why this job: Be part of a transformative mission to improve water services for customers and the environment.
- Qualifications: Experience with Excel data models and understanding of price review processes required.
The predicted salary is between 40024 - 50000 £ per year.
Join Ofwat’s Price Review Directorate as an In period ODI and Price Review Modelling Senior Associate. We have 1 Fixed Term contract until the end of December 2027 available.
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. The water sector is entering a new chapter. The government has set out a bold new direction, bringing together expertise from across the sector to deliver better outcomes for customers and the environment. We are collaborating with fellow regulators to respond to recommendations in The Independent Water Commission Report, the Welsh Government’s response to the Green Paper, Shaping the Future of Water Governance in Wales, and the Government’s White Paper, A new vision for water. Ofwat is working with the government and other regulators to help create a new body for England, bringing together our strengths with those of the Drinking Water Inspectorate, the Environment Agency and Natural England. We are also continuing to work with the Welsh Government to support decisions on the future arrangements for Wales. While these changes take shape, our mission remains the same: to hold water companies to account, drive performance, and ensure the sector delivers real value for customers, communities, and the environment. If you’re passionate about making a difference, this is a unique moment to join us and help shape the future of water, and together we can continue to make a positive impact.
The Role
The senior associate in-period outcome delivery incentives (ODI) and price review modelling will make an important and valuable contribution to enable us to deliver on our goals and regulatory commitments. This is a multi-faceted role. The postholder will be expected to make a significant contribution performing modelling processes across the in-period ODIs, cost change and PR24 reconciliation policy areas. Where required, the postholder may be expected to assist with modelling in areas of the price review.
Key deliverables:
- You will work closely with the principal, in-period ODIs PR24 to ensure that the in-period ODI determinations, cost change determinations and PR24 reconciliations are delivered accurately, effectively and on time.
- Your responsibilities will include:
- Building / amending, running and quality assuring reconciliation models;
- Ensuring that agreed policy interventions are accurately reflected in our models;
- Assisting with planning and preparation as well as monitoring and tracking the delivery of modelling processes;
- Contributing to the drafting of in-period determination publications;
- Leading on specific areas of policy within the in-period ODIs modelling area;
- Liaising with teams to obtain the inputs needed to run the in-period adjustments models including the cost change team, C-MeX, D-MeX and BR-MeX teams and risk and return team (for inflation and tax assumptions);
- Designing and carrying out appropriate quality assurance processes for modelling;
- Working with the data management team to ensure models are linked to the Ocean Fabric database;
- Preparing models for publication in accordance with the required publication checklist and liaising with publications team to ensure they are published on time;
- Deputising for the principal, in-period ODIs PR24 when they are on leave to support continued modelling work;
- Contributing to drafting slides for project and Ofwat governance meetings;
- Presenting findings and recommendations to senior stakeholders on assigned areas to obtain the required modelling decisions.
Another key part of your role will be to support the principal, in-period ODIs PR24 in ensuring that the Water Company Performance Report Team (WCPR) uses consistent ODI data and to help develop policy and processes for the PR29 and 2029-30 blind year reconciliations.
About You
Below are some of the key essential experience, skills & knowledge required for this post:
- Lead criterion: Experience of designing, building and working with Excel data models, as well as a good understanding of Microsoft applications including PowerBi and Fabric.
- Graduate qualification and/or equivalent professional experience relevant to the role discipline.
- Proven experience of a process/es that involve(s) the coordination and delivery of multiple complex models, with appropriate quality assurance and to tight timescales.
- A good understanding of how outcomes frameworks, performance commitments and ODI are used to incentivize companies to deliver more for customers and the environment.
- Experience of price reviews and a good understanding of price review modelling processes.
Why You Should Join Us
- People Centric: Our people are at the heart of Ofwat and everything we do - we ensure all voices are heard and treat each other with respect; you'll be given the autonomy and the support to do your role in the best way.
- 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 Birmingham and London offices.
- Good employer pension contributions.
- 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.
Follow the link to apply for full details about the role. Please ensure you have submitted your application in full before the below deadline. Closing date: 23.55 on 26 July 2026.
In period ODI and Price Review Modelling Senior Associate - Ofwat in London employer: Ofwat
OFWAT is an exceptional employer, offering a dynamic work environment in Cardiff that fosters collaboration and innovation. With a strong commitment to employee well-being, we provide flexible working arrangements, generous parental leave, and ample opportunities for professional growth, making it an ideal place for those looking to make a meaningful impact in the regulatory landscape of Wales.
StudySmarter Expert Advice🤫
We think this is how you could land In period ODI and Price Review Modelling Senior Associate - Ofwat in London
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We think you need these skills to ace In period ODI and Price Review Modelling Senior Associate - Ofwat in London
Some tips for your application 🫡
Emphasise your understanding of public policy:In your application, make sure to highlight any knowledge or experience you have related to public policy, governance or community engagement. Show us how you can contribute to the public sector’s mission, especially if you've worked on relevant projects or initiatives before!
Tailor your CV to the sector's expectations:When crafting your CV, focus on including experiences that showcase your ability to work within government structures or similar environments. Use clear, concise language and consider adding any volunteer work or internships that reflect your commitment to public service.
Show flexibility and willingness to learn:Since this is a temporary role, it’s crucial to convey your adaptability and eagerness to pick up new skills quickly. In your cover letter, let us know how you plan to make the most of this short-term experience and what you hope to learn from it.
Include relevant certificates and training:If you've completed any training or have certifications that are relevant to the role (like public administration, project management, or data analysis), don't forget to mention them. These can really make you stand out in the application process!
How to prepare for a job interview at Ofwat
✨Demonstrate Your Commitment to Public Service
In the government and public sector, showing that you're genuinely passionate about serving the community is key. Get ready to share examples where you've contributed to social good or tackled community issues, as this will resonate with interviewers from Ofwat.
✨Prepare for Policy and Regulatory Questions
Expect questions about policies, regulations, or recently implemented government initiatives. Brush up on the latest news relating to public sector developments—being informed will help you demonstrate that you're ready to hit the ground running, especially in a temporary role.
✨Flexibility is Your Best Friend
Since this is a temporary role, emphasise your ability to adapt quickly. Share examples where you've successfully taken on new challenges or adjusted to different team dynamics, that'll show Ofwat that you’re reliable and can effectively support various projects without a long onboarding process.
✨Prepare to Showcase Teamwork Skills
In the public sector, collaboration is vital. Be ready to discuss past experiences working in teams, especially in diverse environments. Highlight how you've contributed positively to group settings—this could really set you apart from other candidates in this temporary role.
