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Job at UK Power Networks in Greater London Check similar jobs near me

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Risk & Value Engineer

Job at UK Power Networks in Greater London


Risk & Value Engineer

Reporting to

Risk & Investment Manager


Asset Management


Various / EPN, LPN or SPN

Reference Number


Employment Period


Contract Type


CiP Level / Bonus


Starting Salary

£64,497 – Plus bonus and benefits

Closing Date


All applications will be reviewed after the closing date

We also offer :

Annual leave 25 days

Personal Pension Plan – Personal contribution rates of 4% or 5% (UK Power Networks will make a corresponding contribution of 8% or 10%)

Tenancy Loan Deposit scheme

Tax efficient benefits: cycle to work scheme

Season ticket loan

Occupational Health support

Switched On – scheme providing discount on hundreds of retailers products.

Supplier discounts, such as O2, EE, Vauxhall cars, Universal tyres

Discounted access to sports and social clubs

Employee Assistance Programme.

Job Purpose

Through the application of Risk & Value (R&V) techniques ensure the efficient and effective planning and delivery of the projects within our Asset Portfolio Plan (APP).

As we head into a new Regulatory Period (RIIO ED2), our ambition is to build on the successes of ED1 and drive further cost efficiencies. Risk & Value has transformed the way UK utilities make investment decisions. Since being launched in UKPN the process has delivered financial savings in ED1, however a huge opportunity exists to develop the process of Risk & Value further and to use this to drive efficiency across the wider business, into asset standards, and into the planning and delivery of ED2.

An ability to challenge the status quo and traditional methods is essential, as is having the personal drive to do that in workshops and meetings at all levels across the business. This role requires an individual who can conceptualise and deliver business change.

Day to Day

Working as part of a small dynamic team, the role holder will lead on engaging with stakeholders both within Asset Management and across directorates, particularly Capital Programme, to develop, manage and promote the R&V process.

This role holder will also take the lead in engaging and collating information from stakeholders that is required for unit cost reporting. This is a new initiative related to how UKPN will measure the engineering and delivery efficiency in ED2; requiring engagement across directorates (Asset management, Capital Programme, Finance, Network Operations and Strategy & Regulation).

A good level of technical knowledge within an electrical engineering background may provide confidence, however this is not necessary to be a successful Risk & Value Engineer. More important is your ability to grasp a good understanding of the R&V techniques and apply this to generate collaborative challenge and objective decision making between stakeholders.

Principal Accountabilities

Assist the Risk & Investment Manager in making go / no-go decisions on proposed projects. Undertake R&V workshops to identify opportunities, drive efficiency, and generate good value for money decisions on project scope. Work with the Risk & Investment Manager to develop and train a pool of volunteer R&V facilitators and maintain an active relationship with them. Record and track identified opportunities and efficiencies achieved by the R&V process. Encourage the realisation of R&V identified efficiencies through the improved use of existing UKPN governance and delivery processes. Provide input into the development and rollout of further R&V techniques not yet established in UK Power Networks. Maintain and as necessary develop the UKPN Cost of Failure matrix which underpins our common currency of risk calculations. Maintain good communications within Asset Management and across directorates (Capital Programme, Finance, Network Operations and Strategy & Regulation). Ensure timely collation of information required for unit cost reporting. Continually assess compliance with the R&V process on capital projects. Develop mechanisms for capturing and acting on customer feedback in order to continuously improve our processes. Liaise with the Governance Manager within the wider Investment & Programme Management team on aspects of Network Design Review and Portfolio Governance. Promote and participate in knowledge sharing across the organisation.

Knowledge, Attributes and Experience

A people orientated person. Ideally educated to a degree level in a relevant scientific, economic or engineering discipline. With analytical and decision-making skills. Experience of structured problem solving. Some experience of Risk & Value or other lean techniques ideal. An excellent facilitator and communicator. Enthusiastic.

Should you not have the full range of competencies listed above, there may be the chance for further training to equip you appropriately. If you do not have all relevant competencies for the core grade, it will be appropriate to appoint at a lower grade until you have developed the required competencies.

Health & Safety Responsibilities

Managers and supervisors carry both legal and company responsibilities for ensuring the health and safety of their employees, those under their control and those who might be affected by the work undertaken, i.e. public, visitors and employees of other organisations. This includes briefing individuals working for them and ensuring there is the necessary understanding, competence and application of requirements to work safely and without harming the environment.

Employees will ensure they fully understand the health and safety risks involved in their work activities and their responsibility to apply the controls needed to manage those risks to acceptable levels. Similarly where work activities can have an adverse impact upon the environment, and particularly where there are legal requirements, employees will understand those impacts and the controls they must ensure are applied.

Employees need to be aware that for some craft and operational roles that work at height, or use fall arrest devices, there is an upper weight limit of 116Kg due to maximum safe working load of the safety equipment that is used.

If in doubt ask!

We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender, gender identity or expression, or veteran status. We are proud to be an equal opportunity workplace.

ID 136223 Sectors:
in London, Greater London, England

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