The Wholesale Market Conduct team promotes and protects the integrity and transparency of wholesale gas and electricity markets so that they work for GB consumers. The teams major functions include:
1. Monitoring the markets for potential breaches of REMIT (Regulation on Wholesale Energy Market Integrity and Transparency), which includes prohibitions on market manipulation and insider trading, and certain generation licence conditions such as Transmission Constraint Licence Condition (TCLC) and Inflexible Offer Licence Condition (IOLC).
2. Taking action, including enforcement where necessary, to address breaches. This requires understanding market fundamentals and complex trading strategies, and using qualitative and quantitative analysis to support investigations.
This role covers a variety of issues across wholesale markets, with the opportunity to use unique and complex datasets relating to trading activity and producers physical characteristics, in order to make the market work better for consumers.
You will work with colleagues in other parts of Ofgem, including policy and legal teams. You will engage with Ofgems stakeholders such as National Energy System Operator, the Financial Conduct Authority, Council of European Energy Regulators (CEER) and other national regulatory agencies (NRAs) in Europe, as well as gas and electricity stakeholders.
Key Outputs and Deliverables
* Leading on compliance or enforcement activity in relation to wholesale market conduct issues by producing high quality, timely, and robust analysis and reports and by engaging with market participants and market operators on conduct issues.
* Build capability in the team by improving the teams analytical tools and processes for proactive monitoring of large and complex wholesale transaction datasets for potential regulation breaches.
* Making evidence-based recommendations: identifying and escalating key issues as well as assisting in the management of risk.
* Contributing to learning and development of colleagues, by mentoring and developing team learning materials.
* Contribute to the delivery of wider projects in the Wholesale Markets Oversight and International portfolio.
Key Stakeholder Relationships
Internal
* Wholesale Market Oversight and International portfolio, including the team providing insights on wholesale gas and electricity markets developments
* Policy teams such as Electricity Security and Market Management and ESO Regulation teams
* Legal teams
External
* National Energy System Operator
* Energy brokers and exchanges
* Electricity generators, gas shippers and wholesale market participants
* UK and EU institutional stakeholders such as DESNZ, the FCA, ACER and other National Regulatory Authorities (NRAs).
Person specification
Essential Criteria:
* Sector knowledge: An understanding of the operation of wholesale energy markets and/or experience of trading (energy, commodities or equities etc) (LEAD CRITERIA)
* Excellent analytical and quantitative skills. Experience in analysing complex quantitative and qualitative data and evidence to arrive at conclusions and recommendations (LEAD CRITERIA)
* Experience of interpreting and applying complex legislation, regulation, rules and processes to deliver effective compliance or enforcement investigations.
* Excellent written and verbal communication skills that effectively communicate complex issues to non-expert audiences
* Demonstrated ability to take initiative, think creatively and work independently.
Desirable Criteria:
* Experience using Python or SQL programming languages to manage large datasets and produce compelling analytical outputs.
Behaviours
We'll assess you against these behaviours during the selection process:
* Changing and Improving
* Making Effective Decisions
* Communicating and Influencing
Benefits
Alongside your salary of 47,895, OFGEM contributes 13,875 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, 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 and Experience.
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.
The Civil Service values honesty and integrity and expects all candidates to abide by these principles. You must ensure that any evidence submitted as part of your application or used during interview, including your CV and any statements or examples, are truthful and factually accurate. Ofgem takes any incidencesof cheating very seriously. Please ensure all examples provided are of your own experience. Any instances of plagiarism or other forms of cheating will be investigated and, if proven, the relevant applications will be withdrawn from the process. Please note that plagiarism can include presenting the ideas and experiences of others, or generated by artificial intelligence, as your own.
Please refer to Civil Service candidate advice on the acceptable use of artificial intelligence within the recruitment and selection process - Artificial intelligence and recruitment, Civil Service Careers
The personal information we have collected from you will be shared with Cifas who will use it to prevent fraud, other unlawful or dishonest conduct, malpractice, and other seriously improper conduct. If any of these are detected, you could be refused certain services or employment. Your personal information will also be used to verify your identity. Further details of how your information will be used by us and Cifas, and your data protection rights, can be found by [ https://www.cifas.org.uk/fpn ].
Feedback will only be provided if you attend an interview or assessment.
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
Please note this Post is NOT regulated by the Civil Service Commission.
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.
Diversity and Inclusion
The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see the Civil Service People Plan (opens in a new window) and the Civil Service Diversity and Inclusion Strategy (opens in a new window) .
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 : Lucy Dowding
* Email : recruitment@ofgem.gov.uk
Recruitment team
* Email : recruitment@ofgem.gov.uk
Attachments Compliance & Enforcement Candidate Pack_Senior Enforcement Investigator WMC Opens in new window (pdf, 541kB) Role Profile_Senior Enforcement Investigator WMC Opens in new window (pdf, 132kB) Terms and Conditions Apr25 Opens in new window (pdf, 335kB)