Ofcom

Finance Analyst

ID
2017-1636
UK-Edinburgh or London
Group
Competition
Salary Details
Competitive
Job Type
Full Time - Permanent
Job Level
Associate
Contract Duration
Full Time - Permanent
Closing Date
10/11/2017

About the Job

We are looking for candidates with with accounting, corporate finance or similar qualifications, or experience in consulting and relevant industries, to join the financial economics team within Ofcom’s Competition Group.

 

Ofcom is the independent regulator and competition authority for the UK communications sectors and we are globally respected for the work we do. We regulate the TV and radio sectors, fixed line and mobile telecoms, postal services, plus the airwaves over which wireless devices operate, always with the aim of furthering the interests of UK citizens and of consumers. As part of Ofcom, the Competition Group is focused on identifying and responding to competition issues in all these sectors. We prefer to allow markets and competitive forces to determine outcomes and only intervene with regulation if this is unsuccessful.

 

As part of the financial economics team, you will help ensure that our policies have a sound financial basis by delivering trusted financial insight and robust analysis and modelling. You will have the opportunity to work across different industry sectors and will be able to further develop your financial expertise through working on a wide range of novel and challenging issues.

 

We recognise that not everyone has the same needs and we strive to offer flexible working arrangements to help manage work and personal commitments. We have family friendly policies that actively seek to support our colleagues and enable our teams to work in the most effective way.

What you will be doing

Your work will be project based, with a mix of short assignments, small projects with teams made up of a few people and larger, and longer projects with teams of ten or more colleagues. You will work collaboratively with other financial experts, as well as economists, lawyers, technical experts and policy specialists to provide relevant and reliable financial analysis in a straightforward and robust manner. To do so, you will need to define the financial information we need to underpin our decisions, and ensure that the necessary information is obtained, challenged and correctly interpreted.

 

Colleagues in the financial economics team have recently contributed to Ofcom’s work in the following ways:

  • Ensuring that Ofcom and our stakeholders understand the commercial and financial issues facing our stakeholders and the impact of our decisions. Recent projects include a review of the appropriate method to assess financial sustainability and efficiency of Royal Mail[1], and assessing the profitability of fixed and mobile telecom operators[2]
  • Advising on corporate finance matters including stakeholders’ cost of capital[3] and the interest rates to be applied to repayments on overcharges following the determination of disputes[4].
  • Delivering financial analysis that supports our periodic market reviews [5] and developing price control modelling approaches in order to implement charge control remedies [6],
  • Our assessment of Local TV and radio licence applications[7] and determining the financial terms for the ITV and Channel 5 TV licences[8].
  • Building and maintaining a fit for purpose regulatory regime for BT and Royal Mail that ensures we have the financial information we need to make our decisions. Recent projects include a fundamental review of BT’s regulatory reporting requirements[9] and a detailed assessment of the way BT allocates its costs in its Regulatory Financial Statements[10];
  • Developing the financial framework to meet Ofcom’s new responsibilities in regulating BBC[11];
  • Explaining accounting principles and methods to colleagues.

The team is made up of colleagues with backgrounds in accountancy, consultancy, at other regulators and in industry. Associates have typically worked for a few years in a financial or economic modelling role and may have recently qualified as an accountant or gained a similar level of expertise and experience in a financial role. They will lead the delivery of the financial input to smaller projects and participate in stakeholder meetings. They will act as a point of contact for project teams on finance issues. As part of their work, they may need to manage the inputs of others.

 

[1] https://www.ofcom.org.uk/__data/assets/pdf_file/0033/97863/Review-of-the-Regulation-of-Royal-Mail.pdf

[2] See Section 4 of our Strategic Review of Digital Communications http://stakeholders.ofcom.org.uk/binaries/consultations/dcr_discussion/summary/digital-comms-review.pdf

[3] https://www.ofcom.org.uk/__data/assets/pdf_file/0032/54977/final-annexes-29-30.pdf

[4] http://stakeholders.ofcom.org.uk/binaries/enforcement/competition-bulletins/open-cases/all-open-cases/1492838/CW_01149_Ethernet_provisional_conclusions_public.pdf

[5] https://www.ofcom.org.uk/consultations-and-statements/category-1/narrowband-market-review[

[6] https://www.ofcom.org.uk/consultations-and-statements/category-1/business-connectivity-market-review-2015

[7] https://www.ofcom.org.uk/about-ofcom/latest/media/media-releases/2016/rock-radio-scotland

[8] https://www.ofcom.org.uk/consultations-and-statements/category-3/renewal-independent-national-radio-licences

[9] http://stakeholders.ofcom.org.uk/binaries/consultations/bt-transparency/statement/financial-reporting-statement-may14.pdf

[10] http://stakeholders.ofcom.org.uk/consultations/cost-attribution-review/

[11] https://www.ofcom.org.uk/__data/assets/pdf_file/0015/105162/The-BBCs-trading-activities-statement-on-requirements-and-guidance.pdf

Essential Skills / Experience

  • Professional accountancy or corporate finance qualifications (ACA, ACCA, CIMA or similar) or equivalent experience in regulated industries
  • Excellent analyitical skills and experience of applying evidence based financial analysis to new issues
  • Ability to develop and apply analytical approaches to tackle new complex problems
  • Willingness to consider creative and innovative ways to help teams achieve their objectives
  • Strong financial modelling skills
  • Ability to present complex financial analysis in a clear, straightforward manner.
  • Ability to draw complex ideas into clear and focused documents
  • Ability to justify your views but also be willing to consider and respond to alternative views offered by colleagues and stakeholders
  • Intellectual curiosity necessary to identify, investigate and resolve novel financial issues and take responsibility for delivering your work to a very high standard
  • Appreciation of and desire to promote Ofcom's values of excellence, agility, empowerment and collaboration

Desirable Skills / Experience

Experience of regulation and the industries we regulate could be an advantage, but there will be opportunities to develop this expertise in role.

Qualifications

To deliver the necessary financial insight you are likely to have relevant experience in consulting, industry, city or accounting environments and may have accounting, corporate finance or other related qualifications.

Further Information

Ofcom offers competitive salaries plus pensions and flexible benefits package.                                   

 

Ofcom is an equal opportunities employer and committed to equality of opportunity for all. As a disability confident employer, all disabled candidates who meet all the essential criteria of a job description will be guaranteed an interview. If you have a disability or special need and wish to request a reasonable adjustment at any stage of the recruitment process please do so by contacting Recruitment@ofcom.org.uk or calling us on 020 7783 4050.

 

Find out more about our approach to diversity and inclusion

 

 

 Stonewall BITC - Gender BITC - Race FINAL Top50Employers 2017 Business Disability Forum Disability confident IET-YWE-Award-2016-SPONSOR-lge

 

 

 

 

 

 

 

Options

Sorry the Share function is not working properly at this moment. Please refresh the page and try again later.
Share on your newsfeed