Water industry regulator Ofwat has launched its search for a new Chief Executive to replace the outgoing Regina Finn – and is prepared to consider an appointment on secondment if necessary.

Ofwat is using specialist executive headhunters Saxton Bampfylde Ltd to handle the recruitment process. The salary on offer is in SCS payband 2 range £82,900 - £162, 500. Although the role is intended to be permanent, the Ofwat Board has said it would also consider a secondment or a fixed term appointment for candidates interested on that basis.

Setting the context of the role as “an exciting time to be joining the water sector and the (Ofwat) board”, the job description says that senior management experience within an economic regulator, experience in undertaking and leading regulatory reviews (price reviews in particular) and significant experience of managing large, complex projects are essential requirements for the successful candidate.

Key skills needed include senior leadership and management skills, “particularly the ability to inspire and lead an organisation”. Qualities which will undoubtedly be needed - not least because low morale amongst the 200-strong Ofwat workforce appears to be an open secret at the moment.

Speculation about the choice of timing for Finn’s departure in the run-up to PR14, coupled with upcoming wide-ranging legislative and regulatory change for the UK water sector, continues. The regulator’s preamble in the job description says the combined agenda will require “deep and significant cultural change in the sector” and describes Ofwat as at “a critical stage of delivering the 2014 price review”. On that basis Ofwat said that priority will be given to candidates available during or before September 2013 - closing date for applications is Monday 17 June with interviews to be held on Thursday 4 July.

Yet another tight timetable for a regulator already under considerable pressure to grapple with – there is general acknowledgement in the sector that the PR14 business planning process is operating under tight time constraints. The new Chief Executive will also have to ensure that “Ofwat maintains a strong reputation for regulatory practice, particularly through the delivery of the 2013-14 pricing review”.

Whether the UK water sector will get the tough, able and outstanding replacement needed to deliver the goods remains to seen. Given the demands of the role, there must at least be a question over whether “secondment for at least 18 - 24 months from an appropriate regulatory, government or industry organisation” will be enough at such a critical time.

On the other hand, the ability to keep other doors open might flush out applicants who might otherwise not even be prepared to consider taking the job on.