£10.00 per hour plus £1.21 holiday pay
28 Apr 2021

Role & Department Overview

R&D Internship Work Package 2: Analysis and forecasting of real estate energy performance regulation pathways to the 2050 net-zero target.

Cambridge & Counties Bank (CCB) is a UK bank that specialises in providing lending and deposit products for Small and Medium Enterprises (SMEs). The Bank lends to experienced commercial and residential property investors as well as to owner occupied businesses to invest in their own commercial premises. CCB recognises it needs to embed climate change risk across all its operations, especially with regard to credit risk management and its Credit Grading Model, which it uses to assess loan applications.

Through a collaboration between Lancaster University Management School (LUMS) and Faculty for Science & Technology (FST), CCB are providing three paid internships (to be run alongside one another) to help them develop their understanding of how climate change could impact the bank’s business. The internships are as follows:

  1. Develop retrofit menus needed to increase the energy efficiency of the building types found in CCB’s portfolio to specific energy performance levels.
  2. Analysis and forecasting of real estate energy performance regulation pathways to the 2050 net-zero target.
  3. Econometric forecasting of general financial variables (interest rates and inflation) as well as construction- and real-estate sector price inflation 10 years into the future and beyond, incorporating demographic and globalisation trends.

This opportunity is for Internship 2.

Application Closing Date: Wednesday 28th April
Interview Date: w/b Tuesday 4th May
Job Start Date: Mid-May (TBC)
Job End Date: Friday 27th August (estimated – potential for work to extend beyond this date)
Working Pattern: 15-20 hours per week on average
Pay Rate: £10 per hour, plus holiday pay.

To apply, please see instructions after the Person Specification below.

Job Description

This R&D internship will develop plausible scenarios for UK energy performance regulation for real estate (timing, configuration, severity, possibility of exemptions and special treatment for each relevant building type in CCB’s portfolio). The UK’s Paris Agreement (COP21) formal obligations are the same as all other signatories’, but the precise interpretation and translation of these obligations into regulation is the subject matter of UK regulatory politics.

The role requires someone willing to dive deeply into the interest-group politics and the possible energy-performance regulations pertaining to real estate – not just to understand what is on the books now, but scenarios of what we can expect to be on the books over a 10-year horizon and beyond. Someone interested in regulation generally, real-estate-specific energy-performance regulation in particular, and the political economy of regulation would be suitable. The work requires someone who is comfortable bridging and delving deeply into different areas of regulation and regulation politics.

One possible approach would be to develop energy-efficiency pathway scenarios from the plans put forward by major political parties and think tanks, and run an aggregation-of-expert-opinion exercise to determine the relative likelihoods of these pathways. The work will involve:

  • An Induction by CCB covering: CCB’s property portfolio; the data the company holds on the buildings in its portfolio; and the company’s existing Credit Grading Model.
  • An introduction to the CRREM tool by Dr. Kim Kaivanto, Senior Lecturer (MSc Money, Banking & Finance) in Economics at LUMS
  • Desk-based review of UK real estate energy-performance policy development and drivers (political, economic, social and environmental) of energy-performance regulations.
  • Draw upon think tanks, political parties, and governmental bodies’ projections of energy-performance regulation pathways to the ‘net-zero’ target in 2050.
  • Undertake analysis to determine whether some/parts of these regulation pathways are infeasible for reasons that can be widely agreed upon
  • Employ some method (e.g. aggregation of expert beliefs, prediction markets) to develop probability distributions over these regulatory pathways at discrete time intervals.
  • Report containing key findings and recommendations.
  • Integration of energy performance regulation pathways into the CRREM spreadsheet tool. https://www.crrem.eu/.

Person Specification

Key Skills/Knowledge Required

To be successful in this role, you will need:

  • An interest in and understanding of energy-efficiency policy and energy-efficiency regulations pertaining to real estate.
  • Scenario analysis
  • An ability to learn and deploy the techniques and tools used for the aggregation of beliefs
  • Familiarity with the use and development of spreadsheet tools
  • Excellent communication skills
  • Excellent teamworking skills (as the work will be carried out alongside two other complementary internships)
  • Accurate and clear written skills when producing reports
  • Strong organisational skills.

Skills Developed

Working in this role will help to develop the following skills and experience:

  • Energy-efficiency regulation
  • Regulatory politics specific to real estate energy efficiency
  • Business development
  • Commercial awareness
  • Knowledge sharing
  • Teamworking
  • Multi-tasking
  • Planning and organising
  • Problem solving
  • Research
  • Written and verbal communication.

To meet COVID restrictions this is a remote working internship, expected to start mid-May. Research organised around course requirements with a weekly online project contact meeting. Dr. Kim Kaivanto and the company partner will provide ongoing communication and support.

Due to commercial data considerations, applicants must be resident in the UK.

If you are interested in applying, please submit a cover letter (2 pages A4 max) describing why you are interested in this role and the key skillsets you will bring to the role and email to Simon Hallam (s.hallam1@lancaster.ac.uk) by Wednesday 28th April.

If you have any questions about the role please contact Dr. Kim Kaivanto of LUMS (k.kaivanto@lancaster.ac.uk) or Andy Tovey, Head of Credit Risk Monitoring & Control at CCB (Andy.Tovey@ccbank.co.uk).

 
 
 
 
 

You are required to submit a cover letter to support your application. Applications without a cover letter will not be considered.

Under the terms of this work, we endeavour to provide the advertised number of hours however, hours are not guaranteed and that work may cease if there is a fall in demand.

Adverts that display a closing date should be treated as a guide. We reserve the right to close the vacancy once we have received sufficient applications, so we advise you to submit your application as early as possible to prevent disappointment.

Help and advice on making applications can be found on the Lancaster University Careers pages. Visit www.lancaster.ac.uk/careers.