See job eligibility requirements: Principal Economist

Ofwat (Water Services Regulation Authority)

Birmingham, UK 🇬🇧

London, UK 🇬🇧

Reference number

286602

Salary

£52,661 – £80,550

For full details on salary, please read the attached Candidate Pack

Job grade

Other

Principal

Contract type

Fixed Term
Loan
Secondment

Length of employment

2 Year Fixed Term Contract, or Loan/Secondment of up to 2 Years

Business area

OFWAT – Company Performance and Price Reviews – PR24

Type of role

Analytical
Economist
Policy

Working pattern

Flexible working, Full-time, Job share, Part-time

Number of jobs available

1

Location

Birmingham (B5 4UA) or London (E14 4HD) based with hybrid working

About the job

Job summary

Ofwat (The Water Services Regulation Authority) is a non-ministerial government department. We regulate the water sector in England and Wales.

Our role is to help the sector build trust and confidence with customers, the environment and wider society: keeping water flowing, bills affordable and helping ensure the health of our rivers and waterways. We push hard to improve day-to-day water company performance for customers, including on leakage, sewer flooding and customer service. We drive the sector to take a longer-term view and to take steps now to protect and enhance the environment, using digital and data innovations and making sure our water supplies are secure for future generations. Through our five yearly price reviews we oversee billions of pounds of investment into the water sector across England and Wales.

Our work is high-profile and fast-moving, within a dynamic and agile environment. The work that you’ll be involved in every day will be about helping us to deliver our strategy and helping the sector to deliver outcomes that matter to customers and society.

You can find out more about Ofwat, our Values and our Framework for Success in the attached Information for Candidates Pack. 

Job description

We are looking for a Principal Economist to join our Outcomes team in PR24. 

This is an exciting time to work on Outcomes at Ofwat. This work is crucial to our PR24 (Price Review 2024) goals of reflecting a clearer understanding of customers and communities. It is also key to our goal of the water sector delivering greater environmental and social value. You can read more about our 2024 Price Review and methodology in the attached Candidate Pack.

We are looking for someone who can bring economics to life when faced with real-world economic problems to reach sensible recommendations and incorporate complexity where necessary.

This role will have a significant impact in securing the best outcomes for water customers in the PR24 period of 2025-2030 and afterwards, and so the ideal candidate must have strong interest in policy making and excellent stakeholder management skills.

Key deliverables

In this role you are likely to spend most of your time:

  • Leading on economic analysis and driving policy development and implementation
  • Leading on developing and applying our water company business plan assessment criteria and templates in relation to Outcome Delivery Incentive rates;
  • Working with consultants to implement our assessment framework, i.e. assessing evidence submitted by water companies about Outcome Delivery Incentive rates submitted by water companies alongside their 5 year business plans that are different to our recommendations;
  • Leading a small team as well as working closely with internal (including other teams working on the Environment and customer policy in Ofwat) and external (including environmental NGOs and Government) stakeholders;
  • Drafting the reasoning for our decisions in Board papers and published documents.

You will also work alongside other members of the Outcomes team contributing to different projects, including new areas of policy to carry out analysis and make recommendations as required.

Person specification

The successful candidates should meet the below attributes, skills, experience and knowledge.

Essential Experience, Skills and Knowledge

  • Economics degree or a degree with significant economic content at 2.1 grade (and postgraduate degree desirable)
  • Sound knowledge of microeconomics and its application to economic regulation
  • Proven experience in leading on economic analysis, driving policy development and implementation {Lead criterion}
  • Experience of leading a multi-disciplinary team that applies economics in a regulator, competition authority, central government, consultancy or a regulated company, as well as managing consultants effectively,
  • Excellent stakeholder management skills (working with both internal and external parties) and providing intellectual leadership
  • Understanding of the impact of incentives on company behaviour
  • Excellent written and oral communications skills, including the ability to concisely explain complex economic issues in intuitive non-technical language.

Attributes:

  • You build the team
  • You deliver outcomes at pace
  • You create clarity
  • You are an adaptable thinker

You can read more about our Framework for success Attributes Here

Qualifications

• Economics degree or a degree with significant economic content at 2.1 grade (and postgraduate degree desirable)

Benefits

We are forward-thinking, creative, innovative and ambitious. We actively encourage autonomy, collaboration and innovation and there’s a real adult culture fostered by trust, flexibility and respect. We strive to ensure our people feel connected and valued, where their voice matters. You will be provided with the space and support to shape your future while taking greater control of your own growth and development.

You will also benefit from:

  • 25 days annual leave (increasing to max 30 with each year of service) plus bank holidays and 2.5 days privilege leave days
  • access to exclusive discounts on a range of goods and services such as retail outlets, theatre tickets, holidays, insurance and gym membership;
  • fees paid for membership of relevant professional bodies;
  • up to 3 volunteering days per year
  • enhanced shared parental leave and pay
  • cycle-to-work scheme;
  • season ticket loan for travel between home and office;

Things you need to know

Selection process details

How to apply

Applicants should apply through the Civil Service Jobs website. You will be asked to create an account and complete an application form, including a personal statement. If you are unable to make an electronic application, you may submit your application on paper. Please contact us to find out how at recruitment@ofwat.gov.uk

Selection timetable

  • Closing date – 23.55 on Tuesday 16 May 2023
  • Sifting dates – 17-19 May 2023
  • Interview dates – Weeks commencing 22 May 2023 and 29 May 2023

Assessment process

Sift Stage

At sift stage we will assess your application and personal statement against some of the essential Skills, Experience, and Knowledge, listed above.
In your application, please describe clearly how your skills, experience, and knowledge meet the essential criteria.  

Your Personal statement should address the following topic: Please tell us about your experience in leading on economic analysis, driving policy development and implementation.

In the event of receiving a large number of applications, a pre-sift may take place on just the following lead criterion: Proven experience in leading on economic analysis, driving policy development and implementation

Interview Stage

We will test against Attributes, as well as Skills, Experience, and Knowledge (set out in the professional requirements section) during the interview process. You can read more on attributes in our Framework for Success. 

As part of the interview process, we will require a short presentation. Further details will be provided to shortlisted candidates upon invitation to interview.

Please note that the interviews will be conducted via video conferencing software such as Microsoft Teams.

It may be necessary for a second stage interview, which will be communicated to the successful candidates, if required. If you have any queries about any aspect of this role, selection process, or you require any reasonable adjustments please email recruitment@ofwat.gov.uk.

***Note that “near-miss” candidates (candidates who have performed well at interview stage but haven’t scored high enough for the advertised Principal band) may be considered (in merit order) for a Senior Associate Economist Post – a band lower than Principal. Further details will be provided to candidates as needed.


Please read the attached “Candidate Information Pack” for details on terms and conditions.

Feedback will only be provided if you attend an interview or assessment.

Security

Successful candidates must undergo a criminal record check.

People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This job is broadly open to the following groups:

  • UK nationals
  • nationals of Commonwealth countries who have the right to work in the UK
  • nationals of the Republic of Ireland
  • nationals from the EU, EEA or Switzerland with settled or pre-settled status or who apply for either status by the deadline of the European Union Settlement Scheme (EUSS) (opens in a new window)
  • relevant EU, EEA, Swiss or Turkish nationals working in the Civil Service
  • relevant EU, EEA, Swiss or Turkish nationals who have built up the right to work in the Civil Service
  • certain family members of the relevant EU, EEA, Swiss or Turkish nationals

Further information on nationality requirements (opens in a new window)

Working for the Civil Service

The Civil Service Code (opens in a new window) sets out the standards of behaviour expected of civil servants.

We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission’s recruitment principles (opens in a new window).

The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.

The Civil Service also offers a Redeployment Interview Scheme to civil servants who are at risk of redundancy, and who meet the minimum requirements for the advertised vacancy.

Apply and further information

The Civil Service welcomes applications from people who have recently left prison or have an unspent conviction. Read more about prison leaver recruitment (opens in new window).

Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.

Contact point for applicants

Job contact :

  • Name :Polly Stefanova
  • Email :recruitment@ofwat.gov.uk

Recruitment team

  • Email :recruitment@ofwat.gov.uk

Further information

If you feel your application has not been treated in accordance with the recruitment principles and you wish to make a complaint, you should contact Ruth Noake, Head of Talent & OD, Corporate Enablers (People), Ofwat, Centre City Tower, 7 Hill Street, Birmingham, B5 4UA in the first instance. If you are not satisfied with the response you receive from us you can contact the Civil Service Commission at info@csc.gov.uk.

Attachments

Candidate Pack PR24 Principal Economist 2023 Opens in new window(pdf, 763kB)

POSITION TYPE

ORGANIZATION TYPE

EXPERIENCE-LEVEL

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