Reference number
388093
Salary
£31,000 – £31,000
Please read the attached Candidate Pack for more details on salary and pensions.
Job grade
Other
Associate
Contract type
Fixed term
Length of employment
2 years
Type of role
Economist
Working pattern
Flexible working, Full-time, Part-time
Number of jobs available
3
Location
Birmingham (B5 4UA) or London (E14 4HD) based with hybrid working
About the job
Job summary
We are Ofwat, the Water Services Regulation Authority, a non-ministerial government department responsible for regulating the water sector in England and Wales.
We are at the source of everyday life. We help the sector build trust and confidence with customers, the environment and wider society: keeping water flowing, ensuring water bills don’t cost a penny more than needed, holding water companies to account. We push hard to improve day-to-day water company performance for customers, including on leakage, sewer flooding and customer service. We drive the sector to take a longer-term view and to take steps now to protect and enhance the environment, using digital and data innovations and making sure our water supplies are secure for future generations. Through our five-yearly price reviews, we oversee billions of pounds of investment into the water sector across England and Wales.
Our work is high-profile and fast-moving, within a dynamic and agile environment. The work that you’ll be involved in every day will help us to deliver our strategy, to make us the regulator we want to be and help the sector to deliver for customers and society.
Job description
About the Programme
Join us as an Ofwat graduate and step into a world where you are empowered and encouraged to use the economic tools developed in your degree to help us solve problems in the water industry from the very start. Our graduate programme will offer a truly versatile role, great insights into how a regulator works with excellent training enabling you to create a solid foundation for your economic career.
With the opportunity to support work in a range of areas, you’ll develop a broad skillset, important to many roles in the world of regulation. You’ll be part of a multi-disciplinary team and apply the principles of regulatory economics, competition economics, industrial organisation, and financial economics in the real world. The work we do is complex and has direct implications for the customers and the environment. You’ll be given the opportunity to demonstrate your potential from the outset and your passion for economics will see you relish the opportunity!
We offer rotational and static opportunities, which both provide the same learning, development and support. Further information about the Learning and Development opportunities can be found in the attached Candidate Information Pack, or at our website: Graduates and apprentices – Ofwat
Person specification
Qualifications
We are looking for colleagues with a strong academic foundation in economics. You will need to have (or be on target to achieve) at least a 2:2 degree in economics, or a subject with a significant microeconomics component. We’re also keen to hear from you if you have a relevant post-graduate degree in economics or a subject with a significant industrial organisation or financial economics component. As this is a graduate programme, you must have graduated already, or be due to graduate in 2025, and have no more than three years’ work experience following your graduation.
Experience, Skills and Knowledge
- A strong understanding of key microeconomic concepts, in particular why, when and how Governments intervene in markets. An ability to communicate this knowledge and its application clearly and effectively.
- A strong interest in various economic concepts, with a particular motivation for working in regulatory economic environments.
- An enthusiasm for using data analysis and modelling to solve problems.
- A strong ability to apply economic knowledge to solve problems, think critically, manage conflicting timelines, and successfully deliver diverse project outcomes.
Attributes and Values
Values: Throughout the selection process, we will be looking for evidence of our SAILOR values.
Attributes: We will also assess you on the following attributes and behaviours that are essential for success on the programme. These are defined more fully in our Framework for Success. The attributes which will be assessed are:
- Committed Learner
- Makes Relationships Court
- Creates Clarity
- Adaptable Thinker
- Delivers Outcomes
Qualifications
Possession of (or predicted to have) a minimum of a 2:2 degree in economics with substantial content covering microeconomics, industrial organisation, financial economics, competition or regulation in 2025?
Benefits
Why You Should Join Us:
We’re forward-thinking, creative, innovative, and ambitious. We constantly push the boundaries and embrace new ways of working.
With us, your work matters, your voice is heard, and your impact is felt. Ours is a culture of trust, flexibility, autonomy, collaboration, and innovation. We all want positive change for water customers, the environment, and the future of water.
But for us, change is more than what happens on the outside – we’ve always pushed boundaries internally, too. From becoming the first Civil Service organisation to achieve ‘Smarter Working’ status, to gaining our prestigious ‘Smarter Working Maturity’ award, we’ve consistently demonstrated our commitment to embracing innovative ways of working. Our people do their best work when given freedom over where, when, and how they work. Which is why we trust our teams to balance meaningful collaboration in the office with the flexibility of working from home.
You will also benefit from:
- Excellent employer pension contributions of 28.97% (around £8,980 for this role). You can find further details about pension schemes under Terms and Conditions in the Candidate Pack.
- 27.5 days leave (25 days annual leave + 2.5 days privilege leave) increasing to max 32.5 days with each year of service, plus bank holidays
- Access to exclusive discounts on a variety of goods and services, including retail outlets,
theatre tickets, holidays, insurance, and a gym membership - Flexible working arrangements that suit your lifestyle
- Fees paid for membership of relevant professional bodies
- Up to 3 volunteering days per year
- Recognition vouchers scheme
- Generous shared parental leave and pay
- Enhanced sick pay
- Regular development opportunities
- Health and wellbeing initiatives
- Cycle-to-work scheme
- Season ticket loan for home-to-office travel
- Free eye tests and contribution to lenses/spectacles for VDU users
Things you need to know
Selection process details
How to apply
Apply through the Civil Service Jobs website where you’ll be asked to create an account and complete an application form. If you’re unable to make an electronic application, please contact earlycareers@ofwat.gov.uk and we will support you in completing your application.
Please ensure you have submitted your application in full ahead of the deadline listed below. Unfortunately, we won’t be able to consider late applications.
Selection timetable
- Closing date: 23.55 on 02 March 2025
- Video Interviews Close: 09 March 2025
- Birmingham Assessment Centre: Week commencing 07 April 2025 (please note that assessment centre will be held in Birmingham for both London and Birmingham location preferences).
Assessment process
The selection process includes;
- A candidate application form assessing the qualification requirements and some of our attributes and SAILOR values outlined in the table below.
- Video interview assessing SAILOR values and the attributes set out in the table below.
- Successful candidates will then be invited to an assessment centre, week commencing 7th April 2025. The in-person assessment centre will assess the criteria outlined in the table below.
The assessment centre includes;
- A group exercise
- An interview
- A Presentation (topic to be shared in advance)
- A written assessment
Please ensure that anything submitted as part of your application is factually accurate, and you are not presenting the ideas and experience of others, or generated by AI, as your own.
Please note that if a high volume of candidates meet the minimum pass mark at sift stage, we will only progress the highest scoring candidates to interview. Candidates not invited to interview, who have achieved the minimum pass mark, will be placed ‘on hold’ until the final stage of the assessment process is completed. Should the role/s remain unfilled, candidates placed ‘on hold’ may be invited to interview in merit order.
If the assessment process identifies more appointable candidates than roles available, a reserve list will be created for 12 months from which further appointments in merit order can be made.
Please ensure anything you present in your interview answers is factually accurate, and you are not presenting the ideas and experience of others, or generated by AI, as your own. You may expect follow up questions.
If you have any queries about any aspect of this role, selection process, or you require any reasonable adjustments please email earlycareers@ofwat.gov.uk.
Please read the attached “Candidate Information Pack” for details on terms and conditions.
Feedback will only be provided if you attend an interview or assessment.
Security
Successful candidates must undergo a criminal record check.
People working with government assets must complete baseline personnel security standard (opens in new window) checks.
Nationality requirements
This job is broadly open to the following groups:
- UK nationals
- nationals of the Republic of Ireland
- nationals of Commonwealth countries who have the right to work in the UK
- nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
- nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
- individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
- Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service
Further information on nationality requirements (opens in a new window)
Working for the Civil Service
The Civil Service Code (opens in a new window) sets out the standards of behaviour expected of civil servants.
We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission’s recruitment principles (opens in a new window).
The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.
The Civil Service also offers a Redeployment Interview Scheme to civil servants who are at risk of redundancy, and who meet the minimum requirements for the advertised vacancy.
Diversity and Inclusion
The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see the Civil Service People Plan (opens in a new window) and the Civil Service Diversity and Inclusion Strategy (opens in a new window).
Apply and further information
This vacancy is part of the Great Place to Work for Veterans (opens in a new window) initiative.
The Civil Service welcomes applications from people who have recently left prison or have an unspent conviction. Read more about prison leaver recruitment (opens in new window).
Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.
Contact point for applicants
Job contact :
- Name :earlycareers@ofwat.gov.uk
- Email :earlycareers@ofwat.gov.uk
Recruitment team
- Email :earlycareers@ofwat.gov.uk
Further information
Complaints procedure – The process of recruitment and assessment embraces the principles of fair and open competition and best practice. The first is to maintain the principle of selection for appointment to the Civil Service on merit on the basis of fair and open competition as outlined in the Civil Service Recruitment Principles. The second is to promote an understanding of the https://www.gov.uk/government/publications/civil-service-code/the-civil-service-code which sets out the constitutional framework in which all civil servants work and the values they are expected to uphold, and to hear and determine appeals made under it. If you feel your application has not been treated in accordance with the recruitment principles and you wish to make a complaint, you should contact recruitment@ofwat.gov.uk in the first instance. If you are not satisfied with the response you receive from us, you can contact the Civil Service Commission at info@csc.gov.uk
Attachments
Candidate Information Pack, Graduate Economics, Jan25 Opens in new window(pdf, 850kB)
