Día de actualización: 18-02-2024
Tipo de empleo: Permanent
Salario: £51,600 - £77,400 a year
Contenido de trabajo
SSE has big ambitions to be a leading energy company in a low carbon world. Following our commitment to invest £12.5 billion in low carbon projects over the next 5 years, we have significant growth plans and are well on our way to achieving our ambition to build a world that’s more sustainable and inclusive for you, your family, the community you live in and for generations to come.
Join us on our journey to net zero and help us power change.
About the Role
Base Location: Flexible, however our preference is that you will be based in one of our key UK or Ireland sites, which includes but is not limited to:- Glasgow, Perth, Aberdeen, Inverness, Reading, Havant, Belfast or Dublin.
Salary: £51,600 - £77,400 + performance-related bonus + a range of benefits to support your finances, wellbeing and family.
Working Pattern: Permanent | Full Time | Flexible First options available
The Senior Regulatory Finance Manager will be responsible for providing Regulatory Finance support to the Electricity Distribution business at a time of significant growth and transformation both internally and in the external environment we operate. As a natural monopoly, our Distribution business is subject to regulatory oversight by the industry regulator, Ofgem. As such we have a ’Regulatory Contract’ (referred often to as a Regulatory Licence) in which we are required to comply with a number of obligations and underpins our financial and business performance drivers.
This is established during a comprehensive process called a Price Control Review, which is a framework established by Ofgem to set the level and source of financial returns that are available to our regulated business with set performance contractual obligations. This Price Control framework is called RIIO and is set for a period of 5 years with complex and comprehensive clauses or mechanisms that we must deliver against. This is set inside the context of maintaining and constructing the essential electricity infrastructure for customers efficiently as possible while providing exceptional customer service.
We are about to embark on a new price control, RIIO-ED2 (2023-2028), where finance will play a key role in supporting the business in maximising our settlement and setting financial strategies for future price controls. This role will have a broad and technical remit, whereby covering a range of activities, which has been set out below. The complex regulatory funding and reporting across this period make this a senior finance role with exposure to the MD and Directors within the business.
Representing SSE Distribution and working with Ofgem and other DNOs to drive future Regulatory assessments and requirements. Pivotal involvement to ensure SSE Distribution influences decision making. Key areas of work include North of Scotland, Regional Factors and Subsea cables.
- Leading on the annual and regular regulatory reporting including the Ofgem defined Regulatory Reporting Packs (RRPs) working with the wider business.
- Lead the benchmarking analysis and provide key recommendations for senior directors. Working with external consultants to build knowledge, which informs our strategy and possibly the industry as well.
- Preparing, coordinating & leading robust short (current year) and long term (5-10 year) price control forecasts for the Distribution business using knowledge of the price control financial mechanisms to inform senior management within the business and finance.
- Providing advice and recommendations to Head of Finance, Director of Finance and operational Directors and their teams, utilising knowledge of the regulatory licence conditions to drive enhanced decision making.
- Supporting regulatory submissions such as reopeners and ensuring definitions and cost estimations are clear and fully documented in line with Ofgem definitions for costs.
- Reviewing CBAs and other investment appraisals as part of regulatory submissions and business plan documentation including working with Distribution Finance colleagues across Capital Investment throughout price control periods.
What do I need?
The individual will be required to work on their own initiative, understand complex issues, and convey this succinctly and clearly to aid decisions on both financial control process issues and medium to long term goals. This role is very much seen as a key regulatory, financial and strategic role, that will support the Head of Regulatory Reporting and Strategic Planning and the Finance Director for Distribution with recommendations and solutions to complex problems, whilst building relationships and trust across all business teams.
To be considered for this role, we would love you to have:
- Experience operating in a commercial finance role within a capital intensive business, leading a team with experience of and knowledge of a complex regulatory environment.
- Relevant commercial finance expertise and working on financial models and cash flow projections to provide recommendations on project options to aid and challenge the capital programme.
- Co-ordinating, collating and reviewing financial forecasts and delivering reports and regulatory performance (5 year and beyond) insight.
- Able to manage and lead the financial and regulatory audit and reporting for SSE Networks including regulatory reporting.
- Adept at reviewing legal / contractual / regulatory documentation (primarily financial related elements).
- Appropriate Accounting qualification (ICAS, ICAEW, ACCA, CIMA or CIPFA) and at least 5 years PQE in an equivalent role.
About our Business
Our SSE Finance function has a key part to play in fulfilling SSE’s obligations as a UK-listed company, providing expertise and services that can be shared across the SSE Group, and working in partnership with all businesses to provide services tailored to their specific needs. SSE operates in a highly regulated and increasingly competitive environment, and our role is to ensure that we gather, compile, analyse and recommend on the financial strategy for our businesses, identifying opportunities to drive efficiencies and create value for SSE now, and in the future.
What’s in it for you?
We offer an excellent package with 34 days annual leave entitlement. Enhanced maternity/paternity leave, discounted healthcare, salary sacrifice car leasing and much more, view our full benefits package on our careers site.
As an equal opportunity employer we encourage diversity and are committed to creating an inclusive environment for all employees. We encourage applicants from all protected characteristics and commit to providing any reasonable adjustments you need during the application, assessment and upon joining SSE. Search for ’Inclusion & Diversity at SSE’ to find out more.
What happens now?
All applications should be made online, and I’ll be back in touch after the vacancy closing date to let you know the outcome.
If you would like to discuss any working flexibly requirements or adjustments you may require throughout the recruitment and selection process, please contact Francesca on firstname.lastname@example.org / 01738 344763.
Before commencing your role with SSE, you’ll need to complete our pre-employment screening process. This will consist of a criminality and credit check.
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