Senior Regulatory Finance Manager
Location: Perth and Kinross, Renfrewshire
Job Type: Full time
SSE has big ambitions to be a leading energy company in a low carbon world. Following our commitment to invest £18 billion in low carbon projects to 2027, we have significant growth plans and are well on our way to achieving our ambition to build a world that's more sustainable and inclusive for you, your family, the community you live in and for generations to come.
About the Role
Base Location: Perth/Glasgow
Salary: £51,600 - £77,400 + performance-related bonus + a range of benefits to support your finances, wellbeing and family.
Working Pattern: Permanent | Full Time | Flexible First options available
This role is an exciting and challenging opportunity which plays a key part in driving engagement with cross functional directorate business teams and Operational Directors to create greater awareness and ownership of the financial processes, regulatory funding complexities and outcomes for Distribution. It is very much seen as a key regulatory, financial and strategic role, that will support the Head of Finance – Regulation and Strategy and Finance Director for Distribution with recommendations and solutions to complex problems, whilst building relationships and trust across all business teams.
The successful candidate will be required to work on their own initiative, understand complex issues, and convey this succinctly and clearly to aid decisions on both financial control process issues and medium to long term goals.
The Senior Regulation Finance Manager (Distribution) will be part of our Finance team supporting the Electricity Distribution business. We are at a time of significant growth and transformation both internally and in the external environment we operate. As a natural monopoly, our Distribution business is subject to regulatory oversight by the industry regulator, Ofgem. As such we have a ‘Regulatory Contract’ (referred often to as a Regulatory Licence) in which we are required to comply with a number of obligations and underpins our financial and business performance drivers. On a regular basis we agree with Ofgem our output targets and associated funding, referred to as the Price Control.
We are in our new 5 year price control, RIIO-ED2 (2023-2028), and finance will play a key role in supporting the business in maximising our current settlement and setting financial strategies for future price controls. This role will have a broad and technical remit, covering a range of activities including:
- Primary lead on the annual and regular regulatory reporting including the Ofgem defined Regulatory Reporting Packs (RRPs) working with the wider business.
- Benchmarking analysis and provide key recommendations for senior leadership. Working with external consultants to build knowledge, which informs our strategy and possibly the industry as well.
- Preparing, coordinating & leading robust short (current year) and long term (5-10 year) price control forecasts for the Distribution business using knowledge of the price control financial mechanisms to inform senior management within the business and finance.
- Enhance management information focussed on Regulatory Accounts in order to provide relevant insight, knowledge and recommendations at Head of / Director level.
- Supporting regulatory submissions such as reopeners and ensuring definitions and cost estimations are clear and fully documented in line with Ofgem definitions for costs.
- Reviewing CBAs and other investment appraisals as part of regulatory submissions and business plan documentation including working with Distribution Finance colleagues across Capital Investment throughout price control periods.
What do I need?
To be considered for this role, we would love you to have experience of:
- Operating within a capital intensive business, or experience and knowledge of a complex regulatory environment;
- Relevant finance expertise including working on financial models and cash flow projections to provide recommendations on project options to aid and challenge the capital programme;
- Co-ordinating, collating and reviewing financial forecasts and delivering reports and regulatory performance / commercial insight.
- Managing and leading the regulatory financial audit and reporting for SSE Networks including regulatory reporting.
- Reviewing legal / contractual/ regulatory documentation (primarily financial related elements).
- Appropriate Accounting qualification (ICAS, ICAEW, ACCA, CIMA or CIPFA).
About our Business
Our SSE Finance function has a key part to play in fulfilling SSE's obligations as a UK-listed company, providing expertise and services that can be shared across the SSE Group, and working in partnership with all businesses to provide services tailored to their specific needs. SSE operates in a highly regulated and increasingly competitive environment, and our role is to ensure that we gather, compile, analyse and recommend on the financial strategy for our businesses, identifying opportunities to drive efficiencies and create value for SSE now, and in the future.
What's in it for you?
We offer an excellent package with 34 days annual leave entitlement. Enhanced maternity/paternity leave, discounted healthcare, salary sacrifice car leasing and much more, view our full benefits package on our careers site.
As an equal opportunity employer we encourage diversity and are committed to creating an inclusive environment for all employees. We encourage applicants from all protected characteristics and commit to providing any reasonable adjustments you need during the application, assessment and upon joining SSE. Search for 'Inclusion & Diversity at SSE' to find out more.
What happens now?
All applications should be made online, and I'll be back in touch after the vacancy closing date to let you know the outcome.
If you would like to discuss any working flexibly requirements or adjustments you may require throughout the recruitment and selection process, please contact email@example.com / 01738 344763.
EXTERNAL: Before commencing your role with SSE, you'll need to complete our pre-employment screening process. This will consist of a criminality and credit check.
INTERNAL: As a courtesy, please let your current line manager know you are applying.