Whole Lifecycle Costing Specialist

£35,582 - £40,029 yearly
  • Network Rail
  • The Quadrant, Elder Gate, Milton Keynes, UK
  • 21 Mar, 2024
Full time Administration and Secretarial Banking & Financial Services Finance Head Office

Job Description

Brief Description

We are looking for a Mathematical Modeller (official job title: Whole Lifecycle Costing Specialist) on a permanent role.

You will support the implementation of one or more areas of Network Rail’s strategy for whole lifecycle costing, from the development of the models through to the embedding of whole life decision making in the company’s strategic and investment planning processes, supporting both central functions and the operating routes.

Location

The successful candidate’s first year in role will likely involve a reasonable amount of face-to-face training within our modelling team based at Milton Keynes (approximately 2 days per week). However, once the candidate is established in the role and able to work independently, then greater flexibility is available.

 

About the role

  • The average day of a Mathematical Modeller will vary from one day to the next and include (but not limited to) the following:
  • Collaborate with (central and regional) engineering teams to understand the key processes of maintaining specific railway assets (asset characteristics, condition metrics, asset deterioration and life cycle, application of railway standards, interventions, costs).
  • Perform/scope out pieces of analysis to understand asset behaviour and thus advise asset forecasting models.
  • Design and develop appropriate asset modelling methodologies.
  • Apply whole lifecycle costing principles to find the best asset strategies (i.e., inspection, maintenance, and renewals) to manage different assets in different situations.
  • Implement large scale portfolio-level (network-wide) models for use in Network Rail’s investment planning process.
  • Produce analysis, tools, and documentation to aid the understanding of asset model outputs for engineering, finance, planning and regulators.
  • Maintain awareness of developments in whole lifecycle costing, e.g., via the Institute of Asset Management and university activities.

 

Person Specification

The successful candidate should have some (we do not expect anyone to have all) of the following skills:

  • Ability to understand sophisticated engineering processes or physical systems.
  • Handle, combine and cleanse large data sets from different sources.
  • Write ad hoc code for model prototyping, ideally with experience of Object-Oriented coding (Python, R, C#, VBA are typically used within the team and training is encouraged).
  • Design and construct mathematical models of railway assets.
  • Understand how to use statistical methods.
  • Ability to write detailed documentation that is easy to read and interpret.
  • Communicate model methodologies and results to people with little modelling knowledge such as Asset Engineers.
  •  

What skills and experience are required?

  • Degree in numerate field (such as Mathematics, Statistics, Physics, Engineering or Computer Science).
  • Experience of working to demanding timescales.

Vacancy Type: Permanent, Full-Time role

Location: At present the role is located at the Network Rail offices based in Milton Keynes. Please note, the successful candidates first year in the role will likely involve a reasonable amount of face-to-face training within our modelling team based at Milton Keynes (approximately 2 days per week). However, once established in the role and able to work independently, then greater flexibility is available.

Closing date: 15th April 2024 - Late applications will not be accepted

Interviews: In Milton Keynes from the 17th April onwards (The date may change according to business needs)

Band & Salary: 4B - £35,582 - £40,029 per annum, plus benefits depending upon experience