Market Surveillance Analyst - ESO

About the Role

The newly established Market Monitoring team has been created to build on existing areas of electricity market monitoring and reporting. The team is currently 6 strong and growing to 7 with this appointment. 

Under the RIIO-2 license conditions ESO is required to proactively monitor activity in the balancing services market for suspicious activity, and to cooperate with Ofgem under the UK implementation of the European Regulation on Energy Market Integrity and Transparency (REMIT). 

This role operates on a hybrid working basis with manner team members currently working well on a 1 office day basis.

Office locations available are either Warwick or Wokingham
 

•    Lead on the day-to-day monitoring of market activities and identifying and escalating any concerns in relation to market behaviour, or internal ESO behaviours to the Market Monitoring Manager. 

•    Support creation of standard reports and updates to the Market Monitoring Committee and the ESO Executive team if appropriate. Prepare and deliver internal reporting and support the escalation of suspected suspicious market behaviour.

•    Support the Market Monitoring Manager in team development activities as Market Monitoring evolves. 

•    Work in close collaboration with the Legal and ESO Assurance teams to ensure that adequate separation controls are in place regularly reviewed.

•    Ensure that ESO’s risks of market abuse are fully documented in the monitoring framework and this framework is embedded through all relevant areas of ESO (from future market/product development to real-time actions). 

•    Support the communications and engagement with Ofgem as regulator – including the presentation of market insights and behaviours observed.

•    Stakeholder engagement in line with stakeholder plans around the development of the monitoring team as an extension of current monitoring activities.
 

Primarily we are seeking these skills:

•    Working knowledge of wholesale and Balancing energy market arrangements, and the ESO’s role within these.

•    Familiar with REMIT and Grid Code requirements, and the subsequent impact on ESO operations.

•    Experience in analysing large volumes of data – and the ability to create bespoke excel/database/SQL queries to interrogate data.

•    Experienced in running investigations, including collating several data sets together to provide a full picture and to gain insights into behaviours. 

Also:

•    Able to collate, summarise and present findings and insights in a clear and logical manner, including recommendations for next steps.

•    Able to work to tight timescales and understanding of the need for confidentiality in ongoing investigations.

•    Experience of working within a regulated environment and able to support engagement with external stakeholders. 

•    Able to quickly build strong working relationships across the ESO to ensure access to and gain insight from required data sets.

We celebrate the differences people can bring into our organisation - operating in an inclusive culture we welcome and encourage applicants with diverse experiences and backgrounds.
 

Degree (or equivalent)

• A competitive salary of between £45,000 - £56,000 with progression once in post up to £61k (dependant on experience, reviewed annually)
• Annual Performance Based Bonus (of up to 6%)
• 25 days annual leave, plus eight statutory days
• Option to buy/ sell holiday days
• Generous contributory pension scheme – we’ll double-match your contribution to a max company contribution of 12% (total possible 18%)
• Life insurance at 10 times basic salary
• Career progression: internal vacancies, internal & industry secondments; & professional qualification support
• Flexible benefits: salary sacrifice car and technology schemes
• Family benefits like back-up care service (six paid days yearly + option to purchase more)
• Enhanced sickness and parental paid leave policies
• Access to numerous apps which support health, fitness and wellbeing

This role closes on May 29th 2022 at 11.59 pm, however we encourage candidates to submit their applications as early as possible and not wait until the published closing date as this can vary. 

Interviews are due to be held w/c 13th June.

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