Job Title:Principal Economist
Contract Type: Fixed term contract, one-year
Number of Posts:1
Grade: Grade B (equivalent to Civil Service Grade 7/6)
Salary:
* London: £69,244 to £73,826.
* Regional: £64,579 to £69,526.
Hours/FTE: Full Time
Location: London, Birmingham, Bristol, Manchester, York, Glasgow
Security Vetting: Baseline Personnel Security Standard
Reports To:Head of Rail Economics
Direct Report(s): Up to 3
Directorate: Economics, Finance and Markets
Team: Rail Economics
Team information
ORR’s Rail Economics team works on a wide range of economic and policy issues, concerned both with leading development of rail policy and providing specialist advice.
The Rail Economics team is part of the Economics, Finance and Markets directorate, and works closely with the Regulatory Finance team which carries out financial analysis of rail markets.
Job Purpose
Make the move to rail economics in a unique role which shapes how the railway works in the UK.
We are a diverse team of talented economists working alongside industry experts and policy makers. As part of our team, your economic analysis can directly influence decision making and the development of key policies in UK rail regulation.
It's an exciting time to join the team as you will have the opportunity to contribute to the design of the emerging regulatory framework for a reformed rail industry following the creation of Great British Railways, which will bring together ‘track and train’ into one body. You can read more about the government’s plans for the rail industry in its consultation document.
We work on complex economic problems that combine commercial, public policy, and regulatory matters. You will support our team’s work on the charges train operators pay to access the rail network, and the financial incentive payments made by the industry which help to drive better performance on the rail network, as ORR’s role in this area transitions to that specified in the government’s rail reform consultation.
We also work with teams across ORR on the economic impact of potential changes to track, station or depot access for trains, including on the impact that operating new train services could have on existing markets.
Your work will help to build a unique skill set which combines commercial expertise with public policy experience.
As a senior manager in our team, you are expected to be a role model for other members of the team and to positively demonstrate ORR’s values. You are expected to take initiative in your role and maintain a strong sense of accountability for your own work.
In joining ORR you will benefit from flexible working patterns that support your personal commitments while developing a challenging career. We are committed to personal development and you will be offered attractive training opportunities to help develop your economic and professional skills.
This appointment is a maternity cover position, being made on the basis of a one-year fixed term contract, with the possibility of extension at ORR’s discretion.
We would welcome applications from individuals on secondment.
Key Responsibilities
You will be expected to work flexibly across ORR’s economic and financial analysis workstreams. Your key responsibilities, although not exhaustive, will include:
* Support the Head of Rail Economics in all aspects of leadership and management of the Rail Economics team, and contribute to the leadership of ORR’s wider economics and analysis communities.
* Line manage up to three senior economists, taking on responsibility for their performance and development.
* Support the Head of Rail Economics, and lead some workstreams, in providing economic advice to internal and external stakeholders on the development of the future economic framework governing Great British Railways.
* You may lead aspects of ORR’s work on charges and incentives for Network Rail/GBR as ORR’s role in this area transitions to the role specified in the government’s rail reform consultation.
* Contribute to the delivery of the review of the charging and incentives frameworks for High Speed 1, Eurotunnel, Crossrail, Core Valley Lines, Northern Ireland Railways, East-West Rail and any other relevant infrastructure managers beyond Network Rail.
* Be an advocate for ORR by engaging with external stakeholders in a credible and convincing way.
Essential Criteria
When assessing your application, these are the criteria that you are assessed against:
Behaviours:
* Leadership
* Seeing the bigger picture
Experience:
* Significant experience of economic/financial analysis and policy development in a complex environment, including quantitative skills
* Stakeholder handling: experience of engaging with external stakeholders in industry and/or government, internal committees/boards and senior executives, building trust and credibility at all times
Technical:
* Application of knowledge: a good understanding of, and ability to apply, economic/finance principles to policy issues
* Effective communication: building relationships, communicating to technical & non-technical audiences, conveying analysis to key stakeholders
* Project management
This job description provides an overview of key duties and responsibilities and is not exhaustive. You may be expected to undertake other duties and responsibilities within the scope of your role and as appropriate for your grade.
How we will assess your application
At ORR, we use the Civil Service ‘Success Profiles’ framework for our recruitment. Please refer to the Candidate Information Pack accompanying this advert for details.
When completing your application form, please ensure you provide evidence of how you meet each of the essential criteria listed above for this post.
Shortlisting
We will assess you against all the essential criteria listed above.
We will assess you against all of the essential criteria as listed above:
If there is a large number of applications, we may conduct an initial pre-sift based on the lead criteria for this role which is Behaviour - Leadership. Successful candidates at the pre-sifting stage will then progress to a full sift.
Interview
We will assess you against all the essential criteria at interview stage.
A presentation will be included as part of our assessment for the essential criteria, details of which will be shared in advance.
The selection process may include a second interview.
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 and the Civil Service D&I Strategy.
Your will be informed by email within 14 days of the job advert closing whether or not you are being invited to attend an interview. Currently, and subject to confirmation, interviews are expected to take place in the week starting 4 August.
Security Vetting
People working with government assets must complete baseline personnel security standard (BPSS) checks.
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