Job Title: Regulatory Financial Economist (Senior Analyst)
Job Description:
About the CRU
The Commission for Regulation of Utilities (CRU) is Ireland’s independent energy and water regulator. The work of the CRU impacts every Irish home and business ensuring safe, secure and sustainable energy and water supplies for the benefit of all customers.
Ireland’s ambitions for renewable energy deployment in Ireland necessitate a step-change in the pace of policy decision-making and delivery of actions and statutory duties by the CRU. The CRU is leading significant programs of work in the areas of Security of Energy Supply, the Climate Action Plan 2023 and the Clean Energy Package. New work areas include the development of regulatory frameworks for offshore wind; hydrogen; district heating; and, critically, engaging active customers and communities.
As a Senior Analyst, you will be challenged to develop your technical knowledge while assisting the CRU to achieve its strategic objectives. The CRU will provide you with ongoing support and training and there will be ample opportunity for professional development allowing you to maximise your potential in shaping and implementing complex regulatory policy.
Networks and Economic Regulation
The CRU’s Networks and Economic Regulation Division is responsible for the economic regulation of water, gas and electricity networks ensuring that they support customers, underpin economic growth and play a transformational role in climate change adaptation and mitigation.
The Division is responsible for regulating the activities of the electricity and gas distribution and transmission operators and asset owners, setting allowed revenues and annual tariffs within appropriate incentive frameworks to ensure that all investment in networks is efficient and delivers the best outcome for customers.
The economic regulation of services provided by Uisce Éireann seeks to ensure that Uisce Éireann is run as efficiently as possible while providing appropriate water and wastewater services to its customers. The CRU approves Uisce Éireann’s Water Charges Plan which reflects the allowed revenue, connection charging policy and the approved tariff regime.
The Division is made up of 6 teams:
• Electricity networks
• Water revenue and strategic governance
• Gas networks
• Water major projects and connections
• Network tariffs
• Utility performance
The CRU is now seeking regulatory/financial economists (or analysts with a strong financial or economics background). The successful candidates will play an important role in delivering our strategy and will need to be able to respond flexibly to the needs across the organisation.
A panel of suitable candidates may also be established to fill similar roles within the organisation in the future.
Role Description
Reporting to a Manager, the successful candidates will be involved in a varied role working to tight deadlines in a dynamic environment. The CRU Regulatory/Financial Economist (Senior Analyst) roles will include activities such as:
• Leading the delivery of analysis in a specific area of a sectoral price control e.g. the electricity PR5 price control on annual revenue and tariff determinations, incentives, outcomes or cost assessment;
• Leading on key elements in shaping the design and delivery of future sectoral reviews including PR6 for electricity.
• Undertaking (or commissioning) quantitative and qualitative economic or financial analysis to support regulatory monitoring and inform robust policy decisions;
• Engaging with the wider team to identify common economic or financial themes and support development of a robust approach to policy issues across the division;
• Developing improvements to our sectoral approach, including wider improvements to our regulatory approach and incentives across the Division;
• Researching and preparing information and decision papers for the Commission;
• Dealing with internal and external stakeholders in a positive manner in order to further CRU objectives;
• Engaging with NI, GB or EU counterparts on all-island or EU policy or market developments, as required;
• Maintaining an awareness of policy developments to ensure that CRU stays at the forefront of economic or financial thinking within the energy and water industries.
• Mentoring Analysts and Graduate Analysts within the Commission and conducting knowledge transfer sessions in order to share knowledge, expertise and learnings;
• Carrying out such other functions as may be required from time to time to fulfil the business objectives of the CRU and as appropriate to the grade.
The Candidate
Essential requirements
• An honours degree, NFQ Level 8 equivalent, in a relevant discipline with significant economic/accounting/finance content.
• Minimum of 3 years’ work experience applying economics/financial economic/accounting within a sectoral regulator, regulated entity, competition authority, consultancy or similar relevant role.
Relevant competencies
The person appointed will have:
- Practical experience of applying financial and economics concepts to policy issues and/or economic regulation
- A high level of financial numeracy and excellent analytical skills
- Ability to make effective decisions.
- Excellent verbal, written and interpersonal communication skills.
- Motivation and self-management skills.
- Is a versatile self-starter.
Desirable requirements
• NFQ Level 9 equivalent (post-graduate) qualification with a focus on microeconomics, financial economics, accounting, econometrics, statistics or relevant professional experience.
• Ability to take qualitative and quantitative information and analyse/challenge it in a constructive manner.
• Experience of drafting documentation to communicate complex issues/information in a clear and concise manner.
• Experience of working in mixed teams involving engineers, lawyers and policy specialists.
• Ability to forge effective relationships at all levels internally, externally and cross functionally.
• Knowledge/experience of existing and developing policy frameworks in the regulated energy or water sectors.
• Familiarity with the national/EU legal framework under which the CRU operates.
The Package
We are offering an attractive package:
• Starting salary of €55,635 (Salary scale: €55,635 - €70,162)
o Candidates should note that entry will be at the minimum of the scale and the rate of remuneration may be adjusted from time to time in line with Government pay policy.
o Candidates should note that different pay and conditions may apply if, immediately prior to appointment, the appointee is a serving civil or public servant.
• Attractive Pension Scheme
• Increments will be awarded annually subject to satisfactory performance
• Opportunity to work remotely up to 3 days per week
• Opportunity for further education
• Access to Cycle to Work Scheme
• 25 days annual leave on appointment rising to 29 after 5 years’ service and 31 after 10 years’ service
• 10 days bank / public holiday
• Flexible working arrangements
• Tax free bus / Luas to assist with travel costs to and from work
• Access to Employee Assistance Programme
Application Process
Please note, the CRU have engaged RSM Ireland as a data processor to assist the CRU with this recruitment competition. RSM Ireland will collect application information and assess suitability on behalf of the CRU. Information collected by RSM Ireland will be kept for 12 months after the conclusion of the competition
A C.V. along with a cover letter which clearly demonstrates how you meet the key requirements of the role should be sent (by email) to
CRUcareers@rsmireland.ie.
Please reference the position title in the email subject line.
The deadline for applications is the 9 April 2023 (to be received not later than 5pm).
Short listed candidates will be invited to attend for interview and may be asked to make a short presentation on a brief that will be forwarded prior to interview. A two-stage interview process may also be applied. The CRU may establish a shortlist of suitable candidates for potential future positions within the organisation.
