At a Glance
- Tasks: Contribute to modelling processes and ensure accurate delivery of regulatory commitments.
- Company: Join Ofwat, the regulator shaping the future of water in England and Wales.
- Benefits: Flexible hybrid working, generous leave, pension contributions, and exclusive discounts.
- Other info: Dynamic work culture focused on trust, flexibility, and collaboration.
- Why this job: Make a real impact on water governance and customer value while developing your skills.
- Qualifications: Experience with Excel data models and understanding of performance frameworks required.
The predicted salary is between 40000 - 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. Office Location: London (E14 4HD) or Birmingham (B5 4UA) with hybrid working.
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. 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. 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 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. 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. 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.
- 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.
- 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.
- Contributing to drafting slides for project and Ofwat governance meetings.
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.
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.
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.
Recognition vouchers scheme rewarding your hard work.
Generous shared parental leave and pay supporting your family life.
Senior Pricing Associate 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 Senior Pricing Associate in London
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We think you need these skills to ace Senior Pricing Associate in London
Some tips for your application 🫡
Show Off Your Academic Achievements:In banking and financial services, your academic record can really make you stand out. List relevant grades, certifications, or coursework on your CV, especially if you've taken finance-related modules. This is particularly important for a temporary role where qualifications can help you shine even brighter!
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Tailor Your Cover Letter Purposefully:When writing your cover letter, focus on why you’re interested in a temporary position at Ofwat. Let them know how you can quickly adapt to the team's needs and how eager you are to learn the ropes of the banking sector during this short stint. Your motivation and enthusiasm could really set you apart!
Be Prepared with References:For temporary roles, references can play a crucial role in your application. Make sure you’ve got a couple of references lined up who can vouch for your skills and work ethic. This helps to give Ofwat confidence in your short-term commitment to the role.
How to prepare for a job interview at Ofwat
✨Brush Up on Financial Regulations
Since this is a role in banking and financial services, be ready to discuss key regulations like MiFID, Basel III, or GDPR. These are hot topics, and your awareness of how they impact daily operations can give you a significant edge during your interview with Ofwat.
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Prepare for interview questions that assess your analytical abilities. You might need to tackle hypothetical scenarios involving risk assessment or financial forecasting. Bringing examples of relevant projects or coursework can emphasise your practical understanding of these concepts.
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For a temporary role, showing that you can quickly pick up new processes and tools is crucial. Be ready to discuss previous experiences where you had to adapt to changing requirements or tight deadlines, as this will reassure Ofwat that you’re a reliable team player.
✨Demonstrate a Willingness to Learn
In a temporary position, leaning into your eagerness to learn can really set you apart. Be prepared to share how you’re staying updated on industry trends or any additional training you've pursued. Employers appreciate candidates who are proactive about their development—even for short-term roles.
