Regulatory Revenue Model Manager
ScottishPower HQ, Glasgow
Salary starting from £58,000 per annum plus up to 20% bonus, car allowance and family healthcare
Flexible Hybrid Working
Fixed Term Contract - 12 months
Closing Date: 7 October 2024
Help us create a better future, quicker
SP Energy Networks (SPEN) plays a vital role in ensuring we keep up with the evolving way our customers and communities generate, consume, and interact with energy through the provision of systems that are crucial to the delivery of the Government's ambitious Net Zero and Low Carbon targets.
This is an exciting opportunity for you to join our journey as a Regulatory Revenue Model Manager to lead and manage the team responsible for modelling, annual re-calculation of and accounting for c£1.7 billion of revenue annually over the current RIIO regulatory period.
The postholder provides expert advice on, and ensures compliance with, all regulatory licence conditions and revenue modelling matters whilst also establishing and maintaining robust financial controls within the revenue modelling processes.
This position has 2 direct reports.
What you'll be doing
As a Regulatory Revenue Model Manager, you will:
Manage the maintenance and version control of the revenue model which determines allowed revenues for SPD, SPM and SPT.
Providing accurate Budget, Forecast and Business Plan information with supporting analysis to meet deadlines and communicating this analysis to the Head of Licence & Revenue.
Manage the annual recalculation of allowed revenues via the Price Control Financial Model (Annual Iteration Process) thereby protecting or enhancing value.
Support the annual tariff setting process by determining allowed revenues and providing appropriate analysis including purchases assumptions; all delivered to required deadlines.
Drafting of reports (including Regulatory Financial Performance Report), presentations, consultation responses and other papers as necessary to address regulatory financial matters.
Aid in the financial review of re-opener projects, appraising the financial implications/outcomes and communicating these to senior management & Iberdrola group stakeholders.
Manage the end to end preparation and submission of all Regulatory financial submissions to the Regulator including management of the external financial auditors to ensure the required audit reports are available as set out in the Agreed Upon Procedures (AUP's).
Manage and review all the regulatory reporting requests assigned to Licence & Revenue team ready for manager sign off.
Observe commitments and meet deadlines concerning departmental governance. For example, team meetings, performance management, Data Assurance leading to NP&R operational excellence.
What you'll bring
We are looking for an individual with knowledge of UK Energy Networks Regulatory Environment and demonstratable experience of team management and working with senior management in a regulatory finance environment.
They will be able to make decisions within tight timescales and have strong interpersonal, motivational, numerical, analytical, communication, time management, written and planning skills.
Ability to devise solutions to revenue modelling requests/challenges and to use financial data to extract information, format and present appropriately.
To be successful, as a minimum you will have:
Understanding and experience of regulatory and economic issues related to RIIO price control framework.
Strong understanding of financial matters including debt & equity funding considerations, tax and pensions accounting.
Professional qualification in a relevant discipline such as Accountancy, Finance or Economics
What's in it for you
As well as a competitive salary which is reviewed annually, you can also enjoy a number of other benefits. With our pension scheme, we'll double match your contribution up to a company contribution of 10%.
At ScottishPower, we believe it's the little things we do in life that make a big difference. From helping you look after your family's wellbeing, save for your future and take personal steps for climate action - our benefits are designed to help you do just that - so that you have everything you need to take care of your world - today and tomorrow. That's why our benefits include:
36 days annual leave
Holiday Purchase - perfect your work/life balance with extra annual leave
Share Schemes
Payroll Giving and Charity Matched Funding
Technology Vouchers - save more and spread the cost of your technology purchases
Electric Vehicle Schemes - to help you transition to green/clean driving
Cycle to Work scheme and Public Transport Season Ticket Loans
Healthcare benefit options including: Dental Insurance, Private Medical Insurance, Health Cash Plan and annual Health Assessments
Life Assurance (4x salary)
Access to Savesmart financial wellbeing support
Plus shopping, leisure, restaurant and gym discounts, and unique employee deals on travel insurance and more
Why SP Energy Networks
SP Energy Networks is part of the Iberdrola Group, one of the world's largest integrated utility companies and a world leader in wind energy. We keep electricity flowing to homes and businesses through Central and Southern Scotland, North Wales and in the North West of England. We operate over 4000km of cables and lines that make-up the transmission network - connecting infrastructure like wind farms into the electricity system. It's a role that puts us right at the heart of Scotland's ambition to be Net Zero by 2044. And we're taking it very seriously. We're investing £5.5 billion into our transmission network, directly supporting the rapid growth needed in renewable energy. With diverse opportunities across our businesses and a commitment to invest in our own internal talent, ScottishPower can offer people real career opportunities that meet personal and professional goals, in a global organisation.
Inclusion, diversity, and a social purpose are at the heart of everything we do. Together with our values, they bring us together into a stronger, more sustainable business with direct links to the communities we serve. It takes all kinds of people to build a large-scale business like ours, so whatever your background, you'll fit right in.
We are committed to providing reasonable support or adjustments in our recruiting processes for candidates with disabilities, long term conditions, mental health conditions, or who are neurodivergent or require pregnancy-related support. If you need support, please reach out to careers scottishpower.com .