Principal Economist and Regulatory Specialist

Overview

As a Principal Economist and Regulatory Specialist, your role involves leading the standards delivery workstream. You will apply regulatory and policy knowledge concerning railway standards, spearhead the creation of economic impact assessments and business cases, and foster cross-industry agreement. Additionally, you will offer strategic guidance to the team’s other two workstreams.

One of RSSB’s core functions is the development of railway standards for the railway industry in Great Britain. These standards represent an established method for performing tasks, supporting the railway’s operation as an integrated system, aiding risk management, promoting market access, and minimizing costs by avoiding redundant efforts.

The Standards Management, Policy and Strategy team oversees three workstreams to facilitate the development of railway standards.

The ‘standards management’ workstream maintains and enforces the governance framework for standard development and monitors adherence. It also formulates, oversees, and continuously enhances internal policies, processes, and procedures.

The ‘standards delivery’ workstream takes the lead on economic evaluations and assists in developing business cases for modifying standards. It contributes technical expertise on regulatory policy to various projects and cross-industry committees.

The ‘policy and strategy’ workstream defines the strategic path for the future evolution of standards. Its proficiency in regulatory policy helps shape legislative changes related to standards. This workstream collaborates closely with industry entities such as the Department for Transport (DfT) and the Office of Rail and Road (ORR).

Responsibilities

• Guide the strategic direction for business cases related to creating or altering railway standards, ensuring they remain suitable and sound. Oversee the quality and appropriateness of content in business cases, standards, and related documents, advising on the viability of moving forward.
• Engage proactively with stakeholders across the industry to ensure RSSB outputs align with their requirements, maintain high quality, yield concrete benefits, and gain acceptance from cross-industry groups and committees.
• Deliver expert economic and regulatory counsel to both internal and external stakeholders.
• Lead the formulation of economic assessments, best practice models, and methodologies, including cost-benefit analysis, to evaluate the value of railway standards and the industry cost of their implementation. Also, provide this expert input to other directorates and the national research, development, and innovation program.
• Stay informed about best practices in decision analysis techniques, methodologies, and applications, especially those used in the transport sector, and pinpoint opportunities for enhanced methodologies applicable to rail standards and other RSSB initiatives.
• Prepare and articulate economic and analytical concepts to non-technical audiences in a manner that engages, informs, and facilitates decision-making.
• Support the execution of RSSB’s commercial work agenda.
• Lead the team in executing the Rail Standards Strategy and achieving RSSB’s Business Plan objectives regarding time, quality, and budget constraints.
• Offer direction, advice, and coaching to foster the development of direct reports. Lead the enhancement of competence throughout the Directorate in the knowledge, comprehension, and application of economic and regulatory issues.

Qualifications

Essential:

• A bachelor’s degree in a relevant discipline or equivalent practical experience.
• Strong analytical skills to synthesize complex and varied information sources and large datasets, providing insights within the railway system context.
• Experience applying rail industry and broader forecasting and appraisal guidelines (e.g., TAG, PDFH, Green Book).
• Proven experience writing and reviewing technical documents, demonstrating meticulous attention to detail.
• Proficiency with the Microsoft Office 365 suite.
• Understanding of the regulatory framework for standards applicable to the GB rail industry, especially interoperability and safety regulations.
• Ability to cultivate positive working relationships with colleagues from diverse disciplines across the organization, facilitating goal achievement and appreciating varied perspectives and concerns.
• Capable of prioritizing tasks, working efficiently and productively under pressure.
• Effective communication abilities, including conveying complex technical subjects to senior cross-industry groups and committees using appropriate methods.
• Ability to adapt and respond constructively when facing new opportunities, changes, and uncertainty.
• Actively collaborates within a team environment towards shared goals and outcomes.
• Dedicated to customer service, ensuring customer satisfaction is central to achieving shared objectives.
• Employs an inclusive leadership style, nurturing talent, and constructively questioning established practices while ensuring all voices are heard.
• Acts and makes decisions based on a solid understanding of the organization’s current and future needs to maintain high performance standards and focus on delivering results.

Desirable

• Some background in rail modelling, such as economic appraisal, performance analysis, crowding assessment, cost estimation, revenue forecasting, or wider economic benefit analysis.
• Comprehension of project management principles and the capacity to assist project managers in project delivery.

We are dedicated to investing in our employees and provide both formal and informal learning avenues for professional growth.

We champion diversity and equal opportunities in employment and are committed to fostering an inclusive workplace for everyone. As a Disability Confident Scheme member, we invite candidates with disabilities who meet the minimum requirements to apply. If you have applied under the Disability Confident Scheme, please inform us beforehand by emailing vacancies@RSSB.CO.UK. Learn more about Diversity and Inclusion at RSSB: Rail Safety and Standards Board Careers – VERCIDA

Should you need any reasonable adjustments for our selection process, including information in alternative formats, please contact us at vacancies@rssb.co.uk

Recognizing the importance of work-life balance, we offer our staff flexibility within core hours and the choice to work from the office or home. If you need further flexibility, please discuss it during the interview stage for consideration.

We value our staff and offer a competitive benefits package, including 30 days of annual leave (plus bank holidays), a holiday purchase/sale scheme, private medical and dental insurance, a season ticket loan and travel subsidy, cycle to work scheme access, volunteer leave, a performance-related bonus, and pension plan.

Tagged as: +10 years