Job title: In period ODI and Price Review Modelling Senior Associate
Position type: Fixed Term
Job reference: 470738
Location: Birmingham (B5 4UA) or London (E14 4HD) based with hybrid working
Salary: £40,024 - £50,000
Closing date: Sunday 26th July 2026 at 23:55
Join Ofwat’s Price Review Directorate as an In period ODI and Price Review Modelling Senior Associate
We have 1 Fixed Term contract until the end of December 2027 available
*Office Location: London (E14 4HD) or Birmingham (B5 4UA) with hybrid working*
About Us
We are Ofwat, the Water Services Regulation Authority, a non-ministerial government department responsible for regulating the water sector in England and Wales.
The water sector is entering a new chapter. The government has set out a bold new direction, bringing together expertise from across the sector to deliver better outcomes for customers and the environment. We are collaborating with fellow regulators to respond to recommendations in The Independent Water Commission Report, the Welsh Government’s response to the Green Paper, Shaping the Future of Water Governance in Wales, and the Government’s White Paper, A new vision for water.
Ofwat is working with the government and other regulators to help create a new body for England, bringing together our strengths with those of the Drinking Water Inspectorate, the Environment Agency and Natural England. We are also continuing to work with the Welsh Government to support decisions on the future arrangements for Wales.
While these changes take shape, our mission remains the same: to hold water companies to account, drive performance, and ensure the sector delivers real value for customers, communities, and the environment. If you’re passionate about making a difference, this is a unique moment to join us and help shape the future of water, and together we can continue to make a positive impact.
The Role
The senior associate in-period outcome delivery incentives (ODI) and price review modelling will make an important and valuable contribution to enable us to deliver on our goals and regulatory commitments.
This is a multi-faceted role. The postholder will be expected to make a significant contribution performing modelling processes across the in-period ODIs, cost change and PR24 reconciliation policy areas. Where required, the postholder may be expected to assist with modelling in areas of the price review.
Key deliverables:
In this role you will be expected to:
- You will work closely with the principal, in-period ODIs PR24 to ensure that the in-period ODI determinations, cost change determinations and PR24 reconciliations are delivered accurately, effectively and on time. Your responsibilities will include:
- building / amending, running and quality assuring reconciliation models;
- ensuring that agreed policy interventions are accurately reflected in our models;
- assisting with planning and preparation as well as monitoring and tracking the delivery of modelling processes;
- contributing to the drafting of in-period determination publications;
- leading on specific areas of policy within the in-period ODIs modelling area;
- liaising with teams to obtain the inputs needed to run the in-period adjustments models including the cost change team, C-MeX, D-MeX and BR-MeX teams and risk and return team (for inflation and tax assumptions);
- designing and carrying out appropriate quality assurance processes for modelling;
- working with the data management team to ensure models are linked to the Ocean Fabric database;
- preparing models for publication in accordance with the required publication checklist and liaising with publications team to ensure they are published on time;
- deputising for the principal, in-period ODIs PR24 when they are on leave to support continued modelling work;
- contribute to drafting slides for project and Ofwat governance meetings;
- presenting findings and recommendations to senior stakeholders on assigned areas to obtain the required modelling decisions,
Another key part of your role will be to support the principal, in-period ODIs PR24 in ensuring that the Water Company Performance Report Team (WCPR) uses consistent ODI data and to help develop policy and processes for the PR29 and 2029-30 blind year reconciliations.
About You
Below are some of the key essential experience, skills & knowledge required for this post:
- Lead criterion: Experience of designing, building and working with Excel data models, as well as a good understanding of Microsoft applications including PowerBi and Fabric.
- Graduate qualification and/or equivalent professional experience relevant to the role discipline.
- Proven experience of a process/es that involve(s) the coordination and delivery of multiple complex models, with appropriate quality assurance and to tight timescales.
- A good understanding of how outcomes frameworks, performance commitments and ODI are used to incentivize companies to deliver more for customers and the environment.
- Experience of price reviews and a good understanding of price review modelling processes.
Why You Should Join Us
- People Centric: Our people are at the heart of Ofwat and everything we do - we ensure all voices are heard and treat each other with respect; you'll be given the autonomy and the support to do your role in the best way.
- Innovative Work Environment: We embrace agile and new ways of working and have a culture build on trust, flexibility, and collaboration.
- Development Opportunities: Gain valuable experience and develop your skills in a supportive and dynamic setting.
- Work-Life Balance: Enjoy the flexibility of working from home combined with the benefits of in person collaboration in our Birmingham and London offices.
- Good employer pension contributions.
- 25 days’ annual leave, increasing to 30 with each year of service, plus bank holidays and an extra 2.5 days of privilege leave.
- Access to exclusive discounts on a variety of goods and services, including retail outlets, theatre tickets, holidays, insurance, and a gym membership.
- Fees paid for membership of relevant professional bodies.
- Up to 3 volunteering days per year.
- Recognition vouchers scheme rewarding your hard work.
- Generous shared parental leave and pay supporting your family life.
Follow the link to apply for full details about the role. Please ensure you have submitted your application in full before the below deadline.
Closing date: 23.55 on 26 July 2026
