Head of Regulatory Risk (Gas & Power Trading)
The Head of Regulatory Risk is responsible for overseeing, monitoring and reporting all aspects in regard to UK industry (and international if applicable) and other regulatory requirements and their changes and conducting the risk assessments and reviews and identifying the key regulatory risks the Company is facing.
The Head of Regulatory Risk is required to have an understanding of the regulatory guidelines and legislation:
1. Related to electricity and gas industry as required by Electricity/Utility Act, Department of Energy and Climate Change, Ofgem, Elexon and any other industry regulatory bodies
2. Related to any other regulatory bodies and initiative including without limitation Financial Services Authority (and its successors), MiFID, EMIR, Money Laundering and Data Protection.
The Head of Regulatory Risk shall ensure that all the required industry regulatory licenses and permits are valid, updated and sustained.
Summary of main duties:
- Monitoring of UK (and international if applicable) industry regulatory requirements and their changes and inputs from external regulatory bodies and initiatives including without limitation DECC, Ofgem, Elexon in relation to the Company’s business.
- Conducting risk assessments and reviews, and identifying the key industry regulatory risks.
- Preparation and presentation of industry regulatory risk reports to the Executive Committee.
- Ensuring that all the required industry regulatory licenses and permits are valid, updated and sustained, including without limitation the Balancing and Settlement Code, Master Registration Agreement, Carbon Reduction Commitment Energy Efficiency Scheme and Distribution Connection and Use of System Agreement.
- Managing Elexon audit and Ofgem FiT audit and dealing with the requests for information from Ofgem, DECC and other industry regulatory bodies.
- Monitoring of UK (and international if applicable) other regulatory requirements and their changes and inputs from external regulatory bodies and initiatives including without limitation FSA (and its successors), MiFID, EMIR, Money Laundering and Data Protection in relation to the Company’s business and conducting the risk assessment and reviews and identifying the key regulatory risks.
- Preparation and presentation of regulatory risk reports for the above 6.
Key skills and experience sought:
- Significant experience of the UK energy industry, understanding of the energy markets, detailed knowledge of the regulator regimes and environment to which utilities are exposed to (Essential).
- Understanding of the regulatory guidelines and legislation related to any other regulatory bodies and initiative including without limitation Financial Services Authority (and its successors), MiFID, EMIR, Money Laundering and Data Protection (Preferable).
- Ability to timely monitor and understand the complex regulatory requirements and their changes through the external and internal sources. Interpersonal skills and ability to synthesis complex risk profile into summaries that can be generally understood by non-specialists within the Company.
- Ideally educated to Post Graduate level (minimum Graduate level), with further relevant professional or academic qualifications.
For more information, please e-mail through an up-to-date copy of your CV to d.smith@bramwithconsulting.co.uk
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