Senior Policy Adviser, Asset Management Unit
HM Treasury
Apply before 11:55 pm on Sunday 20th October 2024
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About the job
Job summary
About HM Treasury
If you’re interested in making a difference to people’s lives, the Treasury can offer you an exciting opportunity to influence decision making that affects the whole of the UK. Working at the heart of government, we collaborate across government to promote responsible public spending and drive strong and sustainable economic growth.
Our work ranges from protecting customers through the regulation of the financial sector, helping to reduce carbon emissions and creating a greener economy, to promoting British trade around the world and supporting people across the country on jobs, growth and more.
We are part of the Darlington Economic Campus, a pioneering new cross-government hub which brings people together to play an active role in the most important issues of the day whilst working closer to the communities we serve. The campus provides the opportunity for people from all over the UK to help shape the future of the country, and our flexible working practices ensure you can collaborate effectively with our partners. It’s central government, made more accessible to you!
Job description
About the Group
The Financial Services Group advises the government on how to promote a stable and efficient financial services sector, to deliver excellent outcomes for consumers and business, enhance the UK’s position as a global hub for financial services and support economic growth across the country.
The financial services sector is important to the UK economy – providing significant numbers of jobs and making a large contribution to the UK’s economic output. It also provides essential services to individuals – for example, helping them to purchase goods with ease, buy their first home, and plan for their retirement. During the COVID pandemic, it played a critical role in supporting individuals and businesses – for example, in providing payment holidays for individuals and businesses affected by the pandemic and working with the government to deliver Bounce Back Loans.
We ensure that financial services businesses such as banks, investment firms, financial advisors and insurers are well-regulated. Ensuring firms treat customers fairly, customers have access to a range of financial services as a result of competition in the market, and there are appropriate remedies in place when things go wrong.
We work on a significant international agenda which includes promoting openness and trading links between the UK and countries all around the world, including through Free Trade Agreements and other international dialogues and negotiations. To do this we work closely with colleagues in offices overseas from the Foreign Commonwealth & Development Office and the Department for International Trade.
Working with stakeholders is key in Financial Services – for example, we work closely with the independent regulators to help them fulfil their roles, consult consumer groups on issues affecting them, and work with the sector on wider issues like the net-zero agenda.
About the Team
Personal Finances and Funds team brings together the strategic oversight of the asset management and consumer credit sectors in the UK, with responsibility for the protection of consumers to whom they provide services. Our work is challenging, fast-paced and high profile, but we are a fun, friendly and inclusive team with consistently high staff engagement. The team consists of three units:
- The Consumer Credit Unit, which leads government policy towards the £200bn consumer credit market.
- The Financial Inclusion, Capability and Consumer Debt Unit, which ensures that financial services are available and affordable to all, consumers are equipped to navigate them, and appropriately supported where they fall into debt.
- The Asset Management and High Risks Investments Unit, a team of seven which sets HMT’s strategy for the UK’s £10.3 trillion asset management industry.
We are home to the second-largest asset management centre in the world. The sector is crucial to London’s success as a global financial centre and is the largest outside the US. The asset management industry operates globally, and the unit looks at policy changes needed to ensure that this industry can continue to thrive.
About the Job
This is an exciting, stretching, and varied leadership role. The successful applicant will be heading a branch to deliver the government’s priorities and shape the long-term domestic framework for the sector, ensuring it remains the global powerhouse that it is today.
The post includes line management responsibility and will involve core civil service policy making skills, including developing and implementing policy measures to protect UK consumers and boost the competitiveness of the sector. It will require managing a lively and varied portfolio, and will also provide an opportunity for strategic policy development, shaping the future of the UK’s fund regime using sound evidence and analysis.
The post holder will also need to develop strong relationships with a range of stakeholders including industry, external regulators, and cross-Whitehall stakeholders to understand and craft the role of asset managers in tackling some of society’s pressing challenges, such as climate change and pensions reform. In particular, you will work closely with the Financial Conduct Authority (FCA) – one of the UK’s independent financial services regulators – to develop a robust framework for refreshing and modernising the regime for the asset management industry and leading the strategy for Ministerial engagement for this crucial sector.
You don’t need to be a policy professional or have any specific qualifications to apply to work as a Senior Policy Adviser at HM Treasury. We are looking for people who have the right set of skills for the role, who demonstrate the values of our organisation, and who are motivated to come and work with us on a range of issues that are at the heart of how we spend money and deliver public services.
Key accountabilities include:
- Building effective relationships with a wide range of stakeholders to develop a strong understanding of the UK asset management sector’s priorities and identifying policy opportunities and risks. This includes engaging with industry, trade bodies, the regulators, as well as key colleagues within HM Treasury and across Whitehall.
- Leadership on policy issues affecting the sector - including sustainable finance, tax and corporate governance reforms - to ensure they are compatible with HMT’s overall strategic objectives for the asset management sector.
- Ensuring the domestic framework is delivering for industry by continually reviewing the UK’s funds regime – the legislative, regulatory and tax framework underpinning the asset management sector – and where necessary developing and implementing innovative new measures to enhance the UK sector’s international competitiveness. This includes introducing the Reserved Investor Fund (a brand-new type of investment vehicle) and helping the sector harness the benefits of innovative new technologies.
- Ensuring that domestic asset managers are meeting government objectives by convening ministers, industry leaders and senior regulators to set the strategic direction of the asset management sector. This includes designing and delivering the Asset Management Taskforce – a ministerial forum – and creating and driving a work programme for the Taskforce which focuses on the key policy issues of the day.
- Ensuring that the domestic regulatory framework delivers the right outcomes for consumers and financial markets. This includes leading on the Treasury’s response to the Competition and Market Authority’s recommendation that investment consultants be regulated, work with other teams to consider how to improve outcomes for pension fund beneficiaries, and overseeing the impact of the regulation of the funeral plan sector.
- Advising Ministers, special advisers, senior officials and colleagues on a range of issues within your portfolio. This includes rapidly upskilling on developing and emerging issues, describing complex areas of policy in a clear and concise fashion in both written and verbal form, making well evidenced and informed recommendations, and communicating government positions publicly in an effective manner.
- Providing direct line management for at least x1 Range D (HEO/SEO) and managing future resourcing requirements. This will involve contributing to the overall management of the Asset Management Unit, in which we are committed to developing an inclusive environment where all members of staff can thrive. You will also be expected to make a broader corporate contribution across the Personal Finance and Funds team and wider Financial Services Group.
Candidate Drop-In Session – Microsoft Teams
The hiring manager will be running a candidate drop-in session for this role to give you greater insight about the role as well as the chance to learn more about HM Treasury and ask any questions you may have. If you would like to join us, then use the link below to join the call at the right time.
Monday 14th October at 12:30 – 13:00: Join the meeting now
If you would like to speak to the hiring manager informally prior to the closing date for applications to find out more about the job, please contact Mrudula Podila (mrudula.podila@hmtreasury.gov.uk).
Person specification
We are looking for the below skills, experience and behaviours and we will ask you to demonstrate these in your application form. Please review the Candidate FAQ document that is attached to the advert for guidance on how to complete your application form.
- Making Effective Decisions: proven ability to solve complex problems while understanding stakeholder needs and expectations. Able to make decisions at the right level, in a timely manner, using information from variety of sources to inform and support decision making. Ability to make decisions confidently, even in ambiguous or uncertain environments.
- Delivering at Pace: The ability to work independently at pace on a number of complex issues, prioritising effectively, demonstrating excellent resilience and intellectual curiosity to respond to shifting requirements. Collaborate as part of a team in a changing environment, taking responsibility for delivering timely and quality results.
- Communicating and Influencing: A confident, persuasive communicator with the ability to set out complex ideas with clarity and be able to convey these to a variety of partners including seniors through excellent written and verbal communication skills. The ability to build strong relationships of trust with an array of stakeholders both internally and externally.
The lead criterion is: Making Effective Decisions - Ability to analyse a range of information and evaluate evidence to reach clear recommendations
If we receive large volumes of applications, we will conduct an initial sift on the lead criterion only.
Candidate Guidance Support Session – Microsoft Teams
We will be running an overview of Success Profiles and the STAR approach including top tips for the application and interview process and an opportunity to ask general questions around our recruitment practices. Please note that this session is not role specific, so we will be unable to answer specific questions about roles we are advertising. If you would like to join us, please use the link below to join the call at the right time.
Thursday 17th October at 12:30: Join the meeting now
Behaviours
We'll assess you against these behaviours during the selection process:
- Making Effective Decisions
- Delivering at Pace
- Communicating and Influencing
- Seeing the Big Picture
We only ask for evidence of these behaviours on your application form:
- Making Effective Decisions
- Delivering at Pace
- Communicating and Influencing
Benefits
- 25 days’ annual leave (rising to 30 after 5 years), plus 8 public holidays and the King's birthday (unless you have a legacy arrangement as an existing Civil Servant)
- Flexible working patterns (part-time, job-share, condensed hours)
- Generous parental and adoption leave package.
- A Civil Service Pension which provides an attractive pension, benefits for dependants and average employer contributions of 28%
- Onsite restaurant and coffee bar. The London office also offers a gym, showers and prayer room
- Access to a cycle-to-work salary sacrifice scheme, season ticket advances and payroll giving
- Access to a retail discounts and cashback site
- A Rental Deposit Advance Scheme to help meet the total costs of deposits for privately rented homes
- A range of active staff networks, based around interests and diversity
Flexible Working Arrangements
HM Treasury views flexible working as essential in enabling us to recruit and retain talented people, ensuring that they can enjoy a long-lasting career with us. All employees have the right to apply for flexible working and there are a range of options available including; part-time, compressed hours and job sharing. Additionally, we operate flexitime systems, allowing employees the flexibility to adjust their working patterns throughout the week which is subject to operational needs and line management approval.
At HM Treasury we have an incredibly broad remit; our work touches every citizen of the country. So, it’s important our employees come from the widest possible range of backgrounds, bringing us the widest possible range of perspectives and ways of thinking. We are committed to ensuring that all staff can realise their potential and achieve a healthy work-life balance.
HM Treasury operates an office based working approach across all Treasury sites - Darlington, London, and Norwich, and along with the rest of the Civil Service, has an expectation of a minimum of 60% attendance in the office, along with working remotely. This blended working approach allows you to work collaboratively, meet stakeholders face to face, support others and promotes a healthy work life balance (please be aware that this role can only be worked in the UK and not overseas). Some roles will not be suitable for Hybrid Working. Similarly, Hybrid Working will not suit everyone’s circumstances. Arrangements will be discussed and agreed with the successful candidate(s) and subject to regular review. All our offices have been recently modernised and designed to collaborate and connect with colleagues as well as desk and quiet space to allow a range of ways to work.
The office working expectation is linked to the location of the role. If you apply to a post in a single location, then you will not be able to meet this expectation at any of our other sites or move your role to another location.
Things you need to know
Selection process details
Recruitment Timeline
Closing date: 20 October 2024
Shortlisting: w/c 21 October
Interviews: w/c 28 October
This timeline is indicative and may be subject to change. We will inform you if there is a substantial change to the recruitment timeline.
If your contact details change at any time during the selection process, please ensure you update your Civil Service Jobs Profile.
Please note that only applications submitted through Civil Service Jobs will be accepted.
Eligibility Statement
A candidate is not eligible to apply for a role in the Civil Service if the application is made within a 5 year period following a dismissal for carrying out internal fraud against government. Checks will be performed as part of pre-employment checks in line with this. Please refer to the Candidate FAQ document attached to the advert for more information.
Everyone working with government assets must complete Baseline Personnel Security Standard (BPSS) checks. Additionally, individuals appointed to the Treasury group will be subject to National Security Vetting. The level of security vetting required for this role is Counter Terrorist Check (CTC)
To allow for meaningful checks to be carried out, applicants will need to have lived in the UK for at least 3 out of the past 5 years. In exceptional circumstances, a lack of residency would not be a bar to security clearance however the Department will need to consider eligibility on a case by case basis once the advert closing date has passed.
Please read the Vetting Charter for information on what to expect during the vetting process and what will be expected from you. Many areas of your life may be explored during your vetting journey, and it is important that every individual, regardless of their background and experiences, should feel comfortable going through this personal process, whilst having confidence that it is fair, proportionate, and inclusive.
These short videos address common concerns and preconceptions which applicants may have about national security vetting. If you have questions relating to security clearances, please contact HMTSecurityVetting@hmtreasury.gov.uk
Feedback will only be provided if you attend an interview or assessment.
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Working for the Civil Service
We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles (opens in a new window).
Diversity and Inclusion
Apply and further information
Contact point for applicants
Job contact :
- Name : Mrudula Podila
- Email : mrudula.podila@hmtreasury.gov.uk
Recruitment team
- Email : hrrecruitment@hmtreasury.gov.uk
Further information
