Senior Modeller

Morson Group
City of London, London
11 Jun 2017
11 Jul 2017
Contract Type
Full Time

Morson International is pleased to be offering this exciting opportunity on behalf of our client, Low Carbon Contracts Company (LCCC), who will play a key role in the delivery of Electricity Market Reform (EMR), the biggest change to the electricity market since privatisation. LCCC require a Senior Modeller based in Central London on a Permanent basis. In order to perform the modelling role, the team has a Supplier Obligation Forecasting Model (SOFM). The role will interact with industry modeller's to discuss and communicate the modelling decisions taken by the Forecasting Team, and internal and/or external audit on matters of model quality. This role reports into the Head of Forecasting and Supplier Levy Lead and will have no direct reports.

Essential Skills, Knowledge and Certifications:

  • Proven modelling experience.
  • Significant experience of stochastic simulation and uncertainty modelling concepts.
  • Strong influencing and analytical skills.
    • Strong written and verbal communication skills.
  • Strong commercial and financial skills.
  • Strong attention to detail and a passion for quality.
  • Strong intuitive understanding of probability.

Key Accountabilities:

The key accountabilities of the role are outlined below covering both LCCC and ESC. This is an overview of the role and is not exhaustive. LCCC reserves the right to assign other duties commensurate with the role as required.

Key accountabilities:

  • Overall responsibility for modelling key inputs to SOFM, and in particular plant load factor and demand.
  • Review of the modelling algorithm including stochastic market price simulations.
  • Demonstrate and maintain excellence and overall quality of the model including review and amendment of the Quality Log.
  • Development and maintenance of a check model.
  • Overall responsibility for testing updates to SOFM.
  • Production and the review of forecasts and ad-hoc modelling as required.
  • Assisting with reporting KPIs and other performance metrics.
  • Investigating and reporting on variances between forecast and out-turns.
  • Be responsible for providing good quality, timely modelling advice in a way that non specialists can readily understand.

Person Specification:

  • Degree qualified with academic distinction in a mathematical or statistic subject.
  • 5 years+ expertise in a modelling, forecasting or analytical function.
  • Practical experience could be gained in a variety of environments such as Financial Services, Academia, Utilities, Government, Retail etc.
  • Understanding of main drivers of electricity demand is desirable.
  • Electricity expertise in midstream, transmission or generation is desirable.
  • Strong Excel skills and Working knowledge of Microsoft Visual Basic for Applications (VBA).
  • C# is desirable but not essential.

The Low Carbon Contracts Company (LCCC) and the Electricity Settlements Company (ESC) sit at the heart of the delivery of the UK's goals for secure, affordable and sustainable electricity. These two private limited companies, wholly owned by the Secretary of State for Energy and Climate Change, were created to deliver key elements of the government's Electricity Market Reform (EMR) programme.

The biggest change to the electricity market since privatisation, the EMR programme is designed to attract the £110 billion investment needed this decade to replace the UK's ageing energy infrastructure with a more diverse and low-carbon energy mix. EMR will facilitate this vital investment through the introduction of two new schemes: the "Contract for Difference" (or "CFD"); and the "Capacity Market".

LCCC is the counterparty to CFDs, a role which involves management of the contracts as well as the Supplier Obligation Levy that funds CFD payments. LCCC is currently managing over 30 CFDs relating to new generation projects covering technologies including onshore and offshore windfarms, biomass and solar . In all of its operations, LCCC is led by its guiding principle to "maintain investor confidence in the CFD scheme and minimise costs to consumers". LCCC also runs Capacity Market settlement operations on behalf of the ESC.

ESC's role is to oversee the settlement of the Capacity Market to ensure that regular payments are made to capacity providers who have agreed to provide capacity at times of system stress. These capacity arrangements help to keep the lights on across Great Britain

Location: London EC4Y

Salary: Dependant on Experience plus Excellent Benefits including 5% Bonus, 25 days Holidays plus public holiday, x4 Life Assurance, Contributory Group Pension Scheme, Income Protection, Medical Insurance and an extensive Voluntary Benefits package including Bike to Work and Childcare Vouchers. Please note that you must have the right to work in the UK without restrictions or requirement of sponsorship for this position.It is a requirement of this role to be able to obtain Baseline Referencing and Checks as well as a basic Disclosure Scotland.

Morson International has been awarded Approved Recruitment Partner status through an open tender process.

Due to the number of CVs received, should you not hear back from Morson within 14 days, your application has been unsuccessful on this occasion.