Senior Enforcement Investigator - Wholesale Market Conduct

This role sits at the centre of Ofgem?s work to promote fair, transparent and well-functioning wholesale gas and electricity markets for the benefit of GB consumers. Working within the Wholesale Market Conduct team, you will play a leading role in monitoring wholesale energy markets for potential breaches of REMIT and relevant generation licence conditions, including prohibitions on market manipulation and insider trading. The role requires sound, real-world experience of wholesale energy markets rather than purely academic knowledge, with the ability to understand market fundamentals, trading behaviours and complex commercial strategies as they operate in practice. You will lead and contribute to compliance and enforcement activity, producing robust, timely analysis and clear reports that stand up to scrutiny, and engaging directly with wholesale market participants, exchanges and brokers on conduct issues. A core feature of the role is working with large, complex and often unique datasets covering trading activity and physical asset characteristics, using both qualitative judgement and quantitative analysis to identify risks, investigate issues and support evidence-based recommendations. You will help strengthen the team?s proactive monitoring capability by improving analytical tools and processes, escalating emerging risks, and supporting effective risk management. Alongside investigative work, you will collaborate closely with policy, legal and international colleagues across Ofgem and work with key external stakeholders including the National Energy System Operator, the FCA, ACER and other European regulators. The role also offers opportunities to mentor colleagues, build team capability and contribute to wider projects across the Wholesale Markets Oversight and International portfolio. This is a demanding and influential position for someone who can work independently, think creatively and communicate complex wholesale market issues clearly to non-expert audiences, while operating confidently in a data-rich regulatory environment.

Ofgem has a culture of inclusion that encourages, supports and celebrates the diverse voices and experiences of our colleagues. It fuels our innovation and helps ensure we can best represent the consumers and the communities we serve. Everyone is welcome - as an inclusive workplace, our employees are comfortable bringing their authentic selves to work.

The Wholesale Market Conduct team promotes and protects the integrity and transparency of wholesale gas and electricity markets so that they work for GB consumers. The team?s major functions include:

• Monitoring the markets for potential breaches of REMIT (Regulation on Wholesale Energy Market Integrity and Transparency), which includes prohibitions on market manipulation and insider trading, and certain generation licence conditions such as Transmission Constraint Licence Condition (TCLC) and Inflexible Offer Licence Condition (IOLC).
• Taking action, including enforcement where necessary, to address breaches. This requires understanding market fundamentals and complex trading strategies, and using qualitative and quantitative analysis to support investigations.

This role covers a variety of issues across wholesale markets, with the opportunity to use unique and complex datasets relating to trading activity and producers? physical characteristics, in order to make the market work better for consumers.

You will work with colleagues in other parts of Ofgem, including policy and legal teams. You will engage with Ofgem?s stakeholders such as National Energy System Operator, the Financial Conduct Authority, Council of European Energy Regulators (CEER) and other national regulatory agencies (NRAs) in Europe, as well as gas and electricity stakeholders.

Key Outputs and Deliverables

• Leading on compliance or enforcement activity in relation to wholesale market conduct issues by producing high quality, timely, and robust analysis and reports and by engaging with market participants and market operators on conduct issues.
• Build capability in the team by improving the team?s analytical tools and processes for proactive monitoring of large and complex wholesale transaction datasets for potential regulation breaches.
• Making evidence-based recommendations: identifying and escalating key issues as well as assisting in the management of risk.
• Contributing to learning and development of colleagues, by mentoring and developing team learning materials.
• Contribute to the delivery of wider projects in the Wholesale Markets Oversight and International portfolio.

Essential Criteria:

• Sector knowledge: An understanding of the operation of wholesale energy markets and/or experience of trading (energy, commodities or equities etc) and/or market surveillance systems. (LEAD CRITERIA)
• Excellent analytical and quantitative skills. Experience in analysing complex quantitative and qualitative data and evidence to arrive at conclusions and recommendations. (LEAD CRITERIA)
• Experience of interpreting and applying complex legislation, regulation, rules and processes to deliver effective compliance or enforcement investigations.
• Excellent written and verbal communication skills that effectively communicate complex issues to non-expert audiences
• Demonstrated ability to take initiative, think creatively and work independently.

Desirable Criteria:

• Experience using Python or SQL programming languages to manage large datasets and produce compelling analytical outputs.

We'll assess you against these behaviours during the selection process:

• Changing and Improving
• Making Effective Decisions
• Communicating and Influencing

We'll assess you against these technical skills during the selection process:

• You will be required to prepare a presentation at interview stage

Job contact :

• Name : Lucy Dowding
• Email : Recruitment@ofgem.gov.uk

Recruitment team

• Email : recruitment@ofgem.gov.uk