What you’ll be doing
as a Risk Modeller
You will be required to analyse and model the risk of failure utilising probability and consequence data for various scenarios and to understand current and future asset risk. You will also develop outline solutions and assess costs and benefits.
Key Responsibilities:
1. Analysing and collating data from various sources within Thames Water to enhance the development of asset risk models, asset plans, maintenance programmes, monitoring systems, and system plans.
2. Develop an understanding of the underlying risk of asset groups and systems by collating, analysing, and interpreting data from a variety of sources across Thames and use this insight to set out the activities needed to balance cost, performance and risk.
3. Developing and maintaining a consistent and auditable set of Risk Models to underpin strategic risk management, resilience and investment decision making. This will include modelling of the likelihood and consequence of failure in a range of investment scenarios.
4. Demonstrating a culture of excellence and asset stewardship through collaboration with other functional teams across Thames Water, such as Asset Planning, Operations, Engineering, Delivery Partners, Regulation, and Health and Safety.
5. Developing and producing reports that will be used to communicate risks in stakeholder-friendly formats. These may include reports on equipment status, monitoring data, and leak assessments, spatial reports utilising GIS skills, and monthly reporting to the critical asset meetings.
6. Providing strategic direction to Asset Planning to embed the foundations of asset risk assessments into the investment plans for regional systems and the Price Reviews, Drainage and Wastewater Management Plans (DWMPs) and Water Resource Management Plans (WRMPs).
7. Collaborating and liaising with a wide range of external stakeholders such as Network Rail, London Underground, local authorities and other utilities.
8. Adopting best practice frameworks (consistent with ISO 55000 standards) as part of our overarching Asset Management System.
Base location: Hybrid - Clearwater Court - RG1 8DB
Working pattern or hours: 36 Hours, Monday- Friday
Other requirements for the role: Ideally, have a full driving licence and access to your own car as travel across our operational area will be required.
What you should bring to the role
To thrive in this role, the essential criteria you’ll need is:
9. A strong background in Asset Management or Engineering (Degree or relevant experience).
10. Be a subject matter expert for your asset groups to ensure we have the right balance of long, medium and short-term investment choices.
11. Able to interpret complex data and make recommendations by using your strong communication, influencing, negotiation and analytical skills.
12. Have a strong interest in data analytics, statistical modelling and reporting insights.
13. Have a robust knowledge of asset management principles and techniques and an understanding of the regulatory landscape in which we operate.
14. Experienced user of ArcGIS and other ESRI packages, Microsoft Office, statistical modelling (e.g. R, Python)
15. The ability to build a network with different stakeholders. Engage and liaise across the business and wider industry to understand and apply best practice and emerging technologies for assessing asset risk.
What’s in it for you?
16. Competitive salary up to £47,318.20 per annum, depending on experience.
17. 26 days holiday per year, increasing to 30 with the length of service (plus bank holidays)
18. Performance-related pay plan directly linked to company performance measures and targets.
19. Generous Pension Scheme through AON.
20. Access to lots of benefits to help you take care of you and your family’s health and wellbeing, and your finances – from annual health MOTs and access to physiotherapy and counselling, to Cycle to Work schemes, shopping vouchers and life assurance.