Share this Job
Apply now »
Employment Type:  Full Time
Employment Period:  Permanent
Salary:  Starting from £53, 042
Location: 

London, GB

Career Area:  Finance

Institutional Contracts Manager

Vacancy Overview

 

The Nuclear Development Directorate is responsible for the commercial development of new nuclear projects within EDF Energy, encompassing new nuclear plants at Sizewell C (‘SZC’) and Bradwell, small modular reactors and decommissioning.

 

The Institutional Contract & Development (‘IC&D’) team reports to the Nuclear Development Director within the Nuclear Development Directorate, with a dotted line to the Chief Financial Officer, and is responsible for the development and management of a handful of bespoke contracts with the UK Government on the Hinkley Point C (‘HPC’) project, aimed at providing revenue and financing certainty, and for the development of arrangements with UK Government and financing arrangements on the SZC project.

 

The HPC project reached its Final Investment Decision in 2016, and is now in the construction phase, building 2 new EPR reactors of 1600 MW each on the north coast of Somerset.  The project is a complex, long term and large scale (c £19bn) capital investment programme, initially financed through equity (from EDF and its Chinese partner, CGN). It has over 250 supply chain contracts for the delivery of the power plant as well as a handful of bespoke contracts with the UK Government aimed at enabling financing.  It is these bespoke Government contracts that the IC&D team is responsible for.  These encompass the Contract for Difference, securing the price of electricity generated, the Secretary of State Investor Agreement, providing compensation to investors in the event of political shutdown and dealing with gain-share arrangements, the Funded Decommissioning Programme, under which HPC will provide for full decommissioning and waste management costs, and the Infrastructure Projects Authority government guarantee of debt. 

 

The SZC project is at an earlier stage of development, and is expected to take its Final Investment Decision in 2021.  The commercial and financing proposal is still in the development phase, but will take a different form to the HPC structure. 

Nature and Scope

 

The Institutional Contracts & Development Manager will work independently, managing relationships with the respective contract counterparties and other Government bodies.  For HPC, this will involve management of the contracts, reporting, compliance and ensuring rights are protected. For SZC, the focus will be on developing the Institutional Contracts with UK Government within the overall commercial and financing framework.

 

The team comprises both finance and legal professionals, and this role is a finance-focused role which will involve co-ordination and management of financial model updates, tax arrangements, gain share arrangements and financial reporting.  Experience of working with Government, shareholders and financiers for large, infrastructure projects with bespoke financing arrangements is an important requisite for the roles.

Knowledge, Skills, Qualifications, Experience

 

  • Significant experience in major and complex infrastructure projects, including liaison with government and representatives at a senior level, in the context of a project finance structure, gained either with a developer, advisor or within Government.
  • Negotiating and relationship management experience with government bodies and other stakeholders, with an ability to adapt influencing style to meet the situation.  Experience of building effective relationships.
  • A finance professional / accountant by training, experienced with handling complex transactions and legal and financial arrangements.
  • Ability of dealing with detailed topics as well as understanding the bigger picture
  • Experience in and a good understanding of the Energy industry.
  • Capable in report writing and in presenting ideas clearly and effectively.
  • Structured, effective planning and management of projects, collaborative in nature. 
  • Ability to work autonomously and to organise own workload while consistently delivering high-quality work.
  • Experience managing and developing team members is desirable.

Principal Accountabilities

Contract Management and Development

 

  • Lead and manage relationships with and the needs and expectations of key institutional contract counterparties and other key stakeholders, taking account of the role as contract counterparty as well as energy policy setter.
  • Represent New Nuclear in discussions and negotiations with institutional contract counterparties, protecting the position of the project and its shareholders.  For existing arrangements on HPC, to be achieved through a strong understanding of the institutional contracts and financial models, and implementation of systematic processes to ensure contractual rights and interests are protected. 
  • Develop arrangements for the SZC project in accordance with the overall commercial and financial framework to ensure that the project reaches a satisfactory conclusion on its financing arrangements and arrangements with UK Government.
  • For HPC, design and implement the reporting process in line with the obligations and expectations of the institutional contract counterparties, aligning the reporting with other stakeholder reporting within HPC.  Maintain a strong understanding of progress on project to achieve this. 

 

Contract Compliance

 

  • For existing arrangements on HPC, ensure full compliance with the obligations within the Institutional Contracts, working with HPC and shareholder teams to achieve this, putting in place the necessary processes, risk registers and compliance indicators to ensure that obligations are met.
  • Manage the Compliance Book to track NNB’s obligations; including undertakings, representations, confidentiality provisions and intellectual property and manage reporting against this.
  • Ensure executive-level ownership of HPC’s obligations and embed within the business to ensure the risk of non-compliance is mitigated, and ensure there is an appropriate process in place to manage early warnings to prevent breaches of the Institutional Contracts’ requirements
  • Responsible for raising awareness of the Institutional Contracts’ obligations within New Nuclear and its shareholders

 

Line management and other accountabilities

 

  • Responsible for recruiting, managing and developing analysts and interns within the team
  • Manage the delivery of discrete, NNB-wide projects to deliver business improvements such as improvements in communication with key stakeholders
  • Respond to ad hoc requests and support the Development Director and Chief Financial Officer and other senior leaders within the business.


Job Segment: Purchasing, Accounting, Equity, Manager, Supply Chain Manager, Finance, Management, Operations

Apply now »
Find similar jobs: