What you’ll be doing as Director of Regulatory Reporting & Assurance
As Director of Regulatory Reporting and Assurance, you will be accountable for delivering the Company’s Regulatory Reporting requirements, including the twice-yearly delivery reports required by Ofwat in the PR24 determination, the annual performance reports to Ofwat, including management of financial and non-financial submissions, and working with the communications and investor relations team to ensure effective messaging and engagement.
You will be responsible for ensuring that with teams across Thames Water are aware of what they need to do to enable the delivery of reports to the Company’s regulators (Ofwat, Environment Agency, Drinking Water Inspectorate) in a timely fashion and to a high quality that inspires confidence in the Company’s progress.
You will be accountable for developing and implementing processes to assure price review and any IDoK submissions, including analysis and materials supporting board assurance statements, assurance of data table submissions and any other assurance requirements, including provision of third-party assurance as appropriate.
You will also be accountable for developing and implementing processes to assure submissions provided to Ofwat as part of the various gated processes and contingent funding applications put in place as part of PR24, including provision of third-party assurance as appropriate.
As a member of the Strategy and External Affairs (S&EA) leadership team, you will support Thames Water to improve its relationships with all our regulators and key external stakeholders and will work actively to support the culture change needed to achieve this. You will also work in this capacity to disseminate the work of the S&EA team across Thames Water and build effective relationships for the team.
Main Accountabilities & Outputs
- Design and implement Regulatory Reporting process to deliver all performance and delivery reports to meet regulatory and corporate governance requirements. This includes being accountable for ensuring the Company’s reporting meets all requirements to a high level of confidence, and operationalising processes across the business that are efficient and effective.
- Build effective reporting mechanisms to capture all activities to be reported to our regulators ensuring those mechanisms meet the requirements of both Thames Water and the regulators: as a minimum this includes the River Health Action Plan, Delivery Action Plan, Pollution Incident Reduction Plan, Service Commitment Plan, and twice-yearly delivery reporting to Ofwat.
- Develop and implement processes, working closely with Economic Regulation, Asset Operations and Capital Delivery, and Finance teams, to assure submissions provided to Ofwat as part of the various PR24 gated processes and contingent funding applications, as well as performance and delivery reports. This will include provision of third-party assurance as appropriate.
- Design and deliver assurance processes for the provision of all data and information provided to our regulators including ad-hoc requests and submissions and including Internal Integrity Declarations, considering not only the accuracy of facts and data provided but also the context in which they are provided and the use to which they will be put.
- Lead the presentation to the Thames Water board and relevant board committees of material and analysis to support their decisions in respect of submission of relevant reports to the Company’s regulators.
- Design and manage assurance processes to support the assurance of data provided to our regulators as part of PR29, including data tables, board assurance statements and other external requirements, including third party assurance as appropriate.
- Manage the reporting requirements to support an effective working relationship with the Monitor appointed by Ofwat, this will include supporting the Chief Risk and Compliance Officer in their role as Compliance Officer in respect of the Company’s credit ratings undertakings to Ofwat, and main point of contact with the Monitor appointed by Ofwat in respect of those undertakings.
- Working with the Communications team to enable the use of regulatory reporting information to build trust and confidence in the Company (for example by allowing tracking of performance over time).
- Lead negotiations with our regulators (at Senior Director level) to influence their reporting requirements, acceptance of our proposed approach and ensure understanding of our reports and their implications. These regulators will include Ofwat, the Environment Agency and the Drinking Water Inspectorate.
- Liaise with teams across Thames Water, communicating effectively to ensure the requirements, priorities and accountabilities are understood and that key dependencies are reflected.
- Lead and manage the Regulatory Reporting and Assurance team, including setting vision and direction, developing capability, and ensuring appropriate professional development.
What you should bring to the role
- Successful track record of building and delivering on complex, high-profile company-wide programmes to challenging deadlines.
- Proven stakeholder management skills at a senior level, with the ability to navigate complex external environments and also large organisations and different interests.
- Proven track record in promoting successful collaborative working and delivering through others, including delivering outside the line and building consensus in the face of competing interests.
- Excellent influencing and advocacy skills, appropriate to different audiences and levels, including credibility in recommending action at executive and board level, and with key external stakeholders.
- Ability to assimilate large quantities of technical information and data, and articulate key conclusions and issues for non-technical audiences.
- Proven ability to evaluate problems and identify solutions.
- Ability to prioritise tasks and workloads.
- Ability to lead and manage delivery in the face of ambiguity and through change.
- Excellent written and oral communication skills, high level of numeracy, first class presentation skills.
What’s in it for you?
- Competitive Salary
- Annual Leave -26 days holiday per year increasing to 30 with the length of service (plus bank holidays)
- Car Allowance
- Performance Related Pay Plan
- Personal Medical Insurance – Family cover
- Pension – 12% non-contributory pension
- 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
Find out more about our benefits and perks
Who are we?
We’re the UK’s largest water and wastewater company, with more than 16 million customers relying on us every day to supply water for their taps and toilets. We want to build a better future for all, helping our customers, communities, people and the planet to thrive. It’s a big job and we’ve got a long way to go, so we need help from passionate and skilled people, committed to making a difference and getting us to where we want to be in the years and decades to come.
Learn more about ourpurpose and values
Working at Thames Water
Thames Water is a unique, rewarding and diverse place to work, where every day you can make a difference, yet no day is the same. As part of our family, you’ll enjoy fast-tracked career opportunities, flexible working arrangements and excellent benefits.
Whether you’re interested in a role in one of our call centres or science labs, we’re looking for people like you with real passion and a burning desire to make things better.
So, if you’re looking for a sustainable and successful career where you can make a daily difference to millions of people’s lives while helping to protect the world of water for future generations, we’ll be here to support you every step of the way. Together, we can build a better future for our customers, our region and our planet.
Real purpose, real support, real opportunities. Come and join the Thames Water family. Why choose us? Learn more.
Our overarching aim is to ensure that Thames Water is great, diverse and inclusive place to work. We welcome applications from everyone and offer extra support for those who need it throughout the recruitment process. Our aim is to remove any real or perceived barriers to success, so if you need assistance, we’re here to help and support.
When a crisis happens, we all rally around to support our customers. As part of Team Thames, you’ll have the opportunity to sign up to support our customers on the frontline as an ambassador. Full training will be given for what is undoubtedly an incredibly rewarding experience. It’s also a great opportunity to learn more about our business, meet colleagues and earn some extra money along the way.
Disclaimer: due to the high volume of applications we receive, we may close the advert earlier than the advertised date, so we encourage you to apply as soon as possible to avoid disappointment.
