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Details Reference number 307781 Salary £75,000 - £117,800 Please ensure that you read the Pay and Reward information for civil service and internal colleagues before applying. A Civil Service Pension with an average employer contribution of 27% Job grade SCS Pay Band 1 SCS Pay Band 1 Contract type Permanent Business area Financial Resilience and Controls Type of role Analytical Senior leadership Strategy Working pattern Flexible working, Full-time, Job share, Part-time Number of jobs available 1 Contents Location About the job Benefits Things you need to know Apply and further information Location Cardiff, Glasgow, London About the job Job summary As Great Britain's regulator for the energy industry, Ofgem exists to ensure a safe, secure and sustainable energy supply to British households and businesses. Join us in a pivotal role at the heart of our newly established Financial Resilience and Controls Directorate. This is your chance to have a significant impact on Ofgem's strategies in this vital domain. Operating within the innovative Markets Division, the Financial Resilience and Controls (FRC) Directorate holds a critical position. You will be instrumental in advising Ofgem's Board (GEMA) on key decisions regarding GB energy firms, engaging with energy suppliers and understanding their business and financial risks, ensuring licence compliance, and preparing for potential challenges such as firm failure and resolution. As a leader, you will head a recently created and growing team of approximately 30 members. Your primary responsibility will be to ensure that GB energy suppliers are meeting the requirements of FRC policies, including the recently introduced enhanced Financial Responsibility Principle and common minimum capital requirements. By ensuring this, you will help implement those policy decisions and ensure they achieve the desired benefits for consumers. You will personally engage closely with licensed energy firms at senior levels, and your understanding of the policy and market landscape will enable you to prioritise what matters most for consumers. You will architect a well-structured, long-term work plan, translating FRC and Ofgem's strategic change priorities. With a keen eye for talent, you will identify crucial skills, foster growth, and enable effective supervision of retail firms, contributing to a flexible operating model. We are seeking a candidate who understands the financial, governance, and competitive pressures on commercial businesses, such as retail energy supply. Thriving in a complex, fast-paced environment, you should possess either experience in, or the ability to learn, financial regulation. Your proven background in delivering benefits for consumers, communities, or society in a leadership role is paramount. Joining Ofgem's newly established division presents an exciting opportunity to shape your role and contribute to the roadmap ahead. Whether you're new to the energy sector or a seasoned professional, this role offers a chance to make a lasting impact on the UK’s Net Zero journey. Ofgem provides a flexible work culture, ensuring work/life balance, and a supportive senior leadership team. If you're ready to make a transformative impact in the energy sector, apply now and become part of a committed team dedicated to a sustainable future. Ofgem has a culture of inclusion that encourages, supports and celebrates the diverse voices and experiences of our colleagues. It fuels our innovation and helps ensure we can best represent the consumers and the communities we serve. Everyone is welcome - as an inclusive workplace, our employees are comfortable bringing their authentic selves to work. Job description Overview As we begin to recover from the global gas price crisis, consumers and citizens are looking to us to provide strong oversight of the energy retail sector. We need to both prevent a return to a market where thinly-capitalised businesses can enter and trade without skin in the game, and support market participants to transition to a financially resilient and responsible model which attracts investment and helps consumers to pursue low-carbon interventions. This high-profile new portfolio has an ambitious scope and must scale up headcount and skills base. We are looking for people to meet the challenges we face head-on, and help us deliver a greener, fairer energy system. Personal profile You should be somebody who: Understands the financial, governance, and competitive pressures on commercial businesses, for example retail supply Thrives in a complex, fast-paced environment with either experience in, or ability to learn, financial regulation Has a proven background of delivering benefits for consumers, communities, or society in a leadership role Can think strategically about the challenges ahead and work collaboratively with colleagues to develop exemplary solutions to address them Enjoys developing yourself and others: recognises and rewards strengths and builds capability, skills, and expertise in colleagues to create high performing teams Champions our culture of inclusion and encourages, supports, and celebrates the diverse voices and experiences of our colleagues, fuelling our innovation and ensuring we best represent the consumers and the communities we serve Can collaborate with stakeholders at senior levels who may have differing priorities and/or challenging approaches to deliver impact and effective change in the interest of consumers. Team context This is a new and central role within the newly formed Financial Resilience and Controls Directorate and a huge opportunity to shape Ofgem’s priorities and activities in this area. The Financial Resilience and Controls (FRC) Directorate sits within the new Markets Division and is responsible for: advising Ofgem’s Board (GEMA) on the policies that GB energy firms must adhere to; monitoring and assessing the financial risks to licensed suppliers; supervising suppliers and ensuring their compliance with license conditions; and preparing for supplier insolvency and special administration. The Markets Division also incorporates the Retail Directorate, which carried out these activities previously, and with which FRC continues to work very closely. The successful candidate will report to the Director for Financial Resilience and Controls and work closely with others in the Directorate and outside. In particular, the Deputy Director and team should work closely with the linked Retail Compliance team within which these activities were previously carried out on a smaller scale. This role sits within the Compliance and Enforcement Profession, and therefore it will be important for the candidate to work closely with Enforcement colleagues, sharing insight from the proactive monitoring and stress-testing of suppliers to ensure there are visible and meaningful consequences for businesses who do not meet the standards we expect. The successful candidate should also be comfortable and expect to engage regularly with the Director-General (DG) for Markets, the CEO, and GEMA. Person specification Key Responsibilities, Outputs and Deliverables: Financial Supervision Framework Lead teams totalling around [30] staff to operate our toolkit of existing interventions to ensure compliance with FRC requirements (for example, the enhanced Financial Responsibility Principle, Renewables Obligation ringfencing, Common minimum capital requirements, the Operational Capability Principle, trade sale and milestone assessments). Engage with licensed energy firms at senior levels. Work collaboratively across Financial Resilience and Controls, Retail, Enforcement and Emerging Issues, and the Markets Division to ensure our tools are implemented and operationalised effectively. Leadership and Strategic Delivery Act as a collaborative member of the wider directorate senior leadership team taking responsibility for the organisation’s overall performance Translate the FRC Directorate and Ofgem’s strategic change priorities into a deliverable, well-sequenced long-term portfolio work plan with clear and transparent work objectives, milestones and success metrics Building Capability Lead Portfolio in identifying key skills, knowledge, and business capabilities required to supervise firms in the retail market at scale and pace, and work collaboratively with the head of profession, wider leadership team and Ofgem to build team capability and close identified skill gaps Pioneer and embed new ways of working, aligned to the new organisational flexible operating model Essential Criteria Experience within a regulated industry, such as energy or financial services, including the financial, commercial, and business understanding required to successfully regulate and/or operate a regulated business; Good understanding of compliance and enforcement frameworks; regulatory policy implementation; and a proven ability to make robust decisions at pace which may have significant financial and reputational implications with a significant risk of high-profile challenge, or in a complex regulatory environment. Proven leadership and experience building capability in diverse teams, in order to supervise the financial resilience of companies at pace that benefits the interests of consumers, communities, or society. Experience of leading and developing diverse and inclusive teams and supporting them through, and successfully embedding, changes to policies and processes. Ability to work collaboratively with senior stakeholders who may have differing priorities and/or challenging approaches to deliver impact and effective change Behaviours We'll assess you against these behaviours during the selection process: Seeing the Big Picture Making Effective Decisions Leadership Delivering at Pace Technical skills We'll assess you against these technical skills during the selection process: Please refer to the Candidate Pack attached for full details Benefits Alongside your salary of £75,000, OFGEM contributes £20,250 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides. Ofgem can offer you a comprehensive and competitive benefits package which includes; 30 days annual leave after 2 years; Excellent training and development opportunities; The opportunity to join the generous Civil Service pension which also includes a valuable range of benefits; Hybrid working (currently 1 day a week in the office but is in review), flexible working hours and family friendly policies. Plus lots of other benefits including clean and bright offices based centrally, engaged networks and teams and an opportunity to contribute to our ambitious and important targets of establishing a Net Zero energy system by 2050. This exciting blend of professional challenge and personal reward identifies career opportunities at Ofgem as something to get excited about. Things you need to know Selection process details This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours, Experience and Technical skills. When you press the ‘Apply now’ button, you will be asked to complete personal details (not seen by the sift panel), your career history and qualifications. You will then be asked to provide a 1250 word ‘personal statement’ evidencing how you meet the essential and desirable skills and capabilities listed in the role profile. Please ensure you demonstrate clearly, within your supporting statement, how you meet each of the essential and desirable skills and capabilities. Feedback will only be provided if you attend an interview or assessment. This role has a minimum assignment duration of 3 years. An assignment duration is the period of time a Senior Civil Servant is expected to remain in the same post to enable them to deliver on the agreed key business outcomes. The assignment duration also supports your career through building your depth of expertise. As part of accepting this role you will be agreeing to the expected assignment duration set out above. This will not result in a contractual change to your terms and conditions. Please note this is an expectation only, it is not something which is written into your terms and conditions or indeed which the employing organisation or you are bound by. It will depend on your personal circumstances at a particular time and business needs, for example, would not preclude any absence like family friendly leave. It is nonetheless an important expectation, which is why we ask you to confirm you agree to the assignment duration set out above. 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 the Republic of Ireland nationals of Commonwealth countries who have the right to work in the UK nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window) nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS) individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020 Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service 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 This vacancy is part of the Great Place to Work for Veterans (opens in a new window) initiative. 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 : Lynn Roberston Email : [email protected] Recruitment team Email : [email protected]