United Utilities is the UK's largest listed water and wastewater company, based in Warrington near Liverpool and Manchester and serving over 3 million homes and businesses. We are looking for new team members to join a growing Strategy, Policy and Regulation team to work as advisors and support work on a range of topics in economic regulation.
As an Economist, you will be exposed to a dynamic and changing portfolio of topics and be able to learn how economic regulation impacts a regulated company in a real world environment. This will be an opportunity for bright and enthusiastic economists to apply economic theory in practice in a supportive environment. Typical tasks might include:
Developing and drafting regulatory submissions to Ofwat in support of the company's business plan and pricing settlement
Conducting statistical/econometric analysis to understand what drives cost when delivering a water and wastewater service, and presenting the outputs to the business and third parties such as regulators
Supporting financial modelling activity to inform business decisions
Understanding and interpreting data to drive decisions about how charges and tariffs should be applied to the customer base
Explaining economic regulation policies or issues to others in the company
Considering how the regulatory framework can ensure our water supply is resilient to new and emerging pressures, like climate change.
The economic regulation team provides a crucial advisory service to the rest of the business. New joiners to the team will be given on the job training and support to help them thrive in a demanding and fast paced environment where you will be asked to provide innovative and creative insights into regulatory issues that go to the heart of how we structure our business and deliver services to customers.
You will work with cross functional teams in order to successfully execute a varied project portfolio. You will be mentored by more experienced members of the team when you first join, and there will be substantial scope to take on additional responsibilities as you gain more experience.
Successful candidates will be expected to take an increasing level of responsibility in the following areas as they gain experience, with support from existing members of the economic regulation team:
From the outset, to be a reliable and proactive member of the Economic Regulation and Strategy team
To support the strategic leadership and expert advice on regulatory matters that the department provides to the business.
To represent the company in meetings with external stakeholders.
To provide advice and analysis to support decision making by senior leaders, the Executive and Board.
To provide advice and thought leadership in multidisciplinary teams to secure excellent regulatory and commercial outcomes, enhance United Utilities' reputation and deliver good outcomes for stakeholders
To scope, initiate, draft and complete regulatory strategy and position papers for audiences across and beyond the organisation to a high standard, on time and to budget
To engage with and influence colleagues and third parties – including regulators and other stakeholders – in order to deliver high quality policy outcomes
To take a proactive approach to identification of business needs and in influencing the regulatory framework to facilitate delivery in line with the company's vision, values and strategic objectives
To support, lead or review ad hoc regulatory submissions or focussed strategic projects.
To produce regulatory reports and submissions for senior management, provide advice on potential regulatory implications of business decisions or business implications of regulatory decisions.
To demonstrate creativity and innovation in problem solving across a range of regulatory and strategic policy areas
Knowledge and Skills
Professional qualification, usually a degree or postgraduate qualification in a numerate technical discipline (Economics, Finance or similar.)
Strong analytical skills, with attention to detail, ability to analyse and interpret data, and to contribute towards business and customer focused recommendations.
Strong written and verbal communication skills including ability to present information to senior management and write materials for Board and Executive review (as well external consumption), with the potential to work towards doing this with limited oversight
Ability to demonstrate strategic thinking, logical and analytical problem solving skills and demonstrate an aptitude for regulatory and commercial awareness
Awareness and knowledge of the regulatory framework that applies to regulated industries, including price control and incentive based regulation
Excellent interpersonal skills, capable of winning and retaining the confidence and trust of stakeholders.
Good numeracy skills and a willingness to apply these to develop competence with financial statements and financial models
Highly computer literate (in particular Microsoft Word, Excel and Powerpoint).
Ability to work in and/or lead virtual teams across UUW or with third parties as required.
Able to confidently and credibly represent the company with external stakeholders, be resilient in challenging circumstances and be accountable/responsible for delivery of satisfactory regulatory and business outcomes
A willingness to learn and genuine interest in/curiosity about Economics in general or economic regulation in particular
This is a hybrid working role offering a mix of site and home based working. The successful candidate will will also receive a fantastic reward package, including:
Award winning pension scheme
26 days holiday (rising by 1 each year up to a maximum of 30)
Onsite gym at Lingley Mere
A range of flexible benefits including
Buying or selling holidays
Cycle to work
Much much more