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- Tasks: Lead economic analysis projects and provide strategic advice to shape water regulation.
- Company: Join Ofwat, a key player in the water sector's future.
- Benefits: Flexible working, generous leave, excellent pension contributions, and professional development opportunities.
- Other info: Dynamic team culture with a focus on innovation and collaboration.
- Why this job: Make a real impact on customers and the environment while developing your career.
- Qualifications: Degree in economics and experience in regulatory economics required.
The predicted salary is between 36000 - 60000 £ per year.
Join Ofwat’s RAPID & Environmental Planning Directorate as Principal Economist
*Office Location: London (E14 4HD) or Birmingham (B5 4UA) with hybrid working*
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. Following the Independent Water Commission’s Final Report and subsequent White Paper – ‘New Vision for Water’, the UK government has set out a bold new direction – one that brings together expertise from across the sector to deliver better outcomes for customers and the environment.
Ofwat is working in collaboration with the government and other regulators to help establish a new body for England, combining our strengths with those of the Drinking Water Inspectorate, the Environment Agency, and Natural England. We’re also continuing to engage with the Welsh Government to support future decisions 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
We have an exciting opportunity for a Principal Economist to lead our economics hub within the RAPID and Environmental Planning directorate.
The RAPID economics hub plays a crucial role in providing economic advice and recommendations to address possible regulatory and commercial barriers for the delivery of new major infrastructure (particularly new reservoirs, water recycling projects, and major water transfers). This includes work to develop new regulatory and commercial mechanisms for complex infrastructure projects that are nationally significant.
This is an exciting opportunity to work on some of the most important capital projects in the water sector. You will join the team at an exciting time as we are working on a range of critical projects costing over £50bn to underpin future supply of water across England and Wales.
The Regulatory and Commercial frameworks must evolve to accommodate a programme of strategic water supply infrastructure development at a scale that has not happened for more than half a century. Most projects will involve multiple water companies, and it is important that future frameworks deliver value for customers and the environment. However, this will inevitably mean navigating complex trade-offs.
You will have the opportunity to work collaboratively with other teams across Ofwat, including the Price Review team in setting cost allowances and incentives, and the Major Projects team, responsible for the project management of the major infrastructure solutions in the RAPID programme from procurement stage and up to completion. You will also work closely with other regulatory partners, with the opportunity to develop knowledge and experience outside of economics.
About You
Below are some of the key essential experience, skills & knowledge required for this post:
- Lead criterion: Experience of developing and delivering economic advice in a regulatory or commercial setting to deliver long‑term outcomes.
- Experience of solving complex problems, managing trade‑offs, and influencing stakeholders to deliver strategic outcomes.
- Excellent written and oral communication skills, including the ability to explain policy issues and policy options, as well as work with internal and external stakeholders, particularly communicating complex or technical information to a non‑technical audience.
- Experience of working under pressure – planning, prioritising and managing a varied and changing work programme / workload to meet different, and often tight, deadlines.
- Experience of managing or supporting a team in developing quickly evolving policy areas.
- Ability to work independently, and as part of a team, using creativity and innovative approaches.
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 build 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.
- Excellent employer pension contributions of up to 29%.
- 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.
- Generous shared parental leave and pay supporting your family life.
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Principal Economist employer: Ofwat
Contact Detail:
Ofwat Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Principal Economist
✨Tip Number 1
Network like a pro! Reach out to current or former employees at Ofwat on LinkedIn. A friendly chat can give you insider info and maybe even a referral, which can really boost your chances.
✨Tip Number 2
Prepare for the interview by brushing up on your economic theories and regulatory frameworks. We want to see how you can apply your knowledge to real-world scenarios, so think of examples that showcase your analytical skills.
✨Tip Number 3
Show your passion for the water sector! Research Ofwat’s recent projects and initiatives. Being able to discuss these in your interview will demonstrate your genuine interest and commitment to making a difference.
✨Tip Number 4
Don’t forget to follow up after your interview! A quick thank-you email can leave a lasting impression and shows that you’re keen on the role. Plus, it’s a great chance to reiterate why you’d be a perfect fit for Ofwat.
We think you need these skills to ace Principal Economist
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your application to highlight how your skills and experiences align with the role of Principal Economist. We want to see how you can contribute to Ofwat's mission, so don’t hold back on showcasing your relevant expertise!
Show Off Your Analytical Skills: Since this role requires excellent analytical skills, be sure to include examples of how you've used data to inform decisions in your previous roles. We love seeing concrete evidence of your ability to tackle complex problems!
Keep It Clear and Concise: When writing your application, aim for clarity. Use straightforward language to explain your experience and avoid jargon. Remember, we want to understand your qualifications without getting lost in technical terms!
Apply Through Our Website: Don’t forget to submit your application through our website! It’s the best way to ensure it gets to the right people. Plus, you’ll find all the details you need about the role there too.
How to prepare for a job interview at Ofwat
✨Know Your Economics
Brush up on your microeconomics and regulatory economics knowledge. Be prepared to discuss how you've applied economic analysis in previous roles, especially in regulatory contexts. This will show that you understand the core of what Ofwat is about.
✨Showcase Your Analytical Skills
Prepare examples that highlight your analytical skills. Think of complex problems you've solved using data and insights. Being able to explain these in a clear, non-technical way will impress the interviewers.
✨Engage with Stakeholders
Demonstrate your experience in building relationships with stakeholders. Have specific examples ready where you successfully engaged with internal or external parties, as this is crucial for the role.
✨Communicate Clearly
Practice explaining complex issues simply and concisely. The ability to communicate effectively is key, so consider doing mock interviews with friends or colleagues to refine your delivery.