Economist / Economic Analyst

*This vacancy will be based in Leeds or Sunderland dependent on the successful candidates home address*

The Role

We have an amazing opportunity for someone to work with our team to implement best-practice economic evaluation methodologies, models, and metrics to support investment decision-making, and to quantify the value impact of NGNs strategic investment programme.

We are looking for a self-starter, who can pick up and develop new concepts quickly and work as a part of an agile and supportive team. Ideally you will have a sound grasp of economic and mathematic principles, however, we understand that a range of experience can add value to developing in this role.

Key Aspects of your Role:

• Lead the development and improvement of NGN economic modelling techniques and methodologies.
• Lead the ongoing improvement and development of the Value Framework with our partner Copperleaf Technologies
• Align economic methodologies with the Network Output Measures approach
• Develop the methodology to allow the trade-off and prioritisation of investments between asset classes, rather than performing economic analysis in isolation.
• Extend the company's existing Cost Benefit methodology to include un-valued benefits (as a quantity) as per the recommended approach in the Government Treasury Green Book
• Ensure that the economic appraisal methodology incorporated is in-line with best practice and meets the business and stakeholder needs.
• Incorporate customer valuation into economic analysis to ensure customer priorities are reflected and embedded into investment planning.

Principle Accountabilities

Define and lead the economic appraisal of the company's approach to decision making for all asset classes, and assist the Asset Strategy and Investment Teams in the planning, delivery and optimisation of Investment Plans.

To support the Asset Strategy and Investment Planning teams in the development and application of economic valuation and whole life cost assessment to inform investment decisions and the creation of investment strategies for all asset classes.

The development and application of robust economic assessment of investment proposals and longer term investment strategies will be a key enabler to the delivery of NGN's Asset Management & Corporate Objectives.

The Economic Evaluation Lead will be required to:

• Develop and implement economic models and valuation techniques to quantify the value delivered by the company's Investment programme
• Work with the business to understand how economic analysis can improve business decision making to deliver value.
• Provide guidance to the Asset Strategy and Investment Teams and Head of Asset Strategy.
• Work directly with Investment Team Leaders (ITLs) and Investment Teams to develop economic appraisals for asset classes to inform NGN's short, medium and long term investment strategies.
• Ensure investment plans and decisions are consistent with longer term view of asset and network requirements
• Identify value creating opportunities within the RIIO regulatory framework for asset classes (Incentive, Output Delivery, Expenditure requirements).
• Work with a wide range of disciplines across NGN and additionally represent NGN with external stakeholders such as DECC, Ofgem, HSE, other utilities and academic organisations.

Knowledge, Experience and Technical Know How

• Knowledge and experience of economic modelling and benefit valuation.
• Proven ability to combine intellectual rigour with effective communication, clearly explaining technical issues and drafting and presenting to a range of audiences.
• Ability to plan, organise and prioritise pieces and programmes of analytical work to deliver high-quality work to strict deadlines.
• Excellent interpersonal skills and capable of working within a team and ability to build effective relationships.
• Knowledge and application of investment appraisal methodologies
• Ability to challenge normal engineering and investment practices against alternative scenarios
• Develop scenarios and think longer term and develop strategic plans that can deliver on NGN's core obligations and objectives
• Knowledge and understanding of the UK Gas Industry regulatory framework and principles
• Ability to represent NGN at external meetings and industry working groups.

Qualifications Required

• Degree educated in Economics, Mathematics (or similar) or evident relevant experience. (MSc Desirable)
• Applied experience of economic appraisal or the development and application of cost benefit analysis methodologies within the commercial or regulated sector

The Package

• Permanent, Personal Contract
• Competitive salary
• 10% Bonus
• SSP for first 7 calendar days then occupational sick pay
• 25 days holiday per year, plus 8 days bank holiday, plus 2 half days (Christmas Eve and New Year's Eve)
• Stakeholder 5/10 pension scheme
• Flexible benefits including salary sacrifice options such as cycle to work, childcare vouchers, gym membership and many more
• Plus other family friendly policies, maternity/paternity pay, volunteering etc.
• Flexible working policies