Policy Adviser, Asset Management
HM Treasury
Apply before 11:55 pm on Wednesday 16th 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!
We are really to encourage applications for upcoming roles on Campus and as such we are holding a Careers Day on 1st October which we thought might be of interest to you.
There will be multiple sessions throughout the afternoon to help you better understand our recruitment process and perfect your examples when it comes to application and interview. The sessions will begin at 1pm so arrival for 12:45 at the latest, they will be running until 4:30pm. You will leave the day with a greater understanding of what is expected from our Success Profiles approach and a relevant buddy who will be able to help you on the day and moving forwards. If this would be of interest to you, please contact daniel.wood@businessandtrade.gov.uk for further details.
Job description
About the Group
The Financial Services Group advises the government on how to promote a stable and efficient financial services sector. As a Group, we strive to deliver excellent outcomes for both consumers and businesses, enhance the UK’s position as a global hub for financial services, and support economic growth across all nations and regions of the country.
The financial services sector is critically important to the UK economy: it creates a significant number of jobs and makes 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 management firms, financial advisors and insurers are well-regulated. We ensure that firms treat customers fairly, that customers have access to a range of financial services as a result of competition in the market, and that 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 Business and 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 Unit, which sets HMT’s strategy for the UK’s £10.3 trillion asset management industry.
The asset management sector is critical to the UK’s economic success. With £10.3 trillion of assets managed in the UK it’s the second largest sector of its kind globally, and it plays a central role in growing the savings of UK citizens, and channelling investment into key Government priorities such as major infrastructure projects, innovative growing companies, and the transition to Net Zero. The role of the Asset Management Unit is to ensure this sector continues to flourish and work effectively in the best interests of consumers and the economy.
About the Role
Policy making in Government, and the actions we take as policy advisers, set the course for the whole UK economy and for people’s everyday lives.
Great policymaking is about understanding what needs to change, what problems need to be solved and supporting Ministers to arrive at the best solution to deliver the change. Policy also means working out how we are going to make the changes or solve the problems, and then delivering on those plans. To do all this, we need to build relationships with Ministers, Civil Service colleagues, groups with expertise and the public.
This exciting and stretching role provides the opportunity to see the policymaking process through from beginning to end, developing, testing, and implementing proposals to improve the key asset management regulations to boost the competitiveness of the sector applying to alternative asset managers (including private equity and hedge fund managers).
The post holder will lead the delivery of flagship reforms to regulations apply to alternative asset managers (including managers of hedge funds and private equity funds), and work across a range of other exciting policy areas affecting the asset management sector, including regularly advising senior civil servants and ministers on a range of policy areas. This role entails core civil service policy-making skills. It would suit someone who is familiar with managing a busy workload, is comfortable delivering a project through from beginning to end and can communicate complex concepts easily to non-experts. The role does not require any previous experience or knowledge of financial services.
Key accountabilities include:
- Designing and implementing policy to ensure the UK has a robust and internationally competitive framework for alternative fund managers. This will involve developing expertise on relevant asset management regulation, conducting analysis and undertaking engagement to test proposals, as well as providing clear and comprehensive advice to Treasury seniors and ministers.
- Lead on scoping and delivering this ambitious and cross-cutting programme of reform for asset management regulation, from consultation to legislative phase, working closely with lawyers and ensuring key milestones are mapped out and adhered to.
- Leading on engagement with the Bank of England, Financial Conduct Authority and industry stakeholders, to ensure the Government’s approach to asset management regulation is effective and proportionate. This will involve forging close relationships to build consensus across organisations acting as a credible partner and challenger to deliver policy in areas where there are competing objectives and interests.
- Maintaining an international outlook, closely tracking international developments related to the asset management sector, engaging on an international level with your policy counterparts and overseas delegations, and co-ordinating the Asset Management Unit’s input into set piece international events to ensure the UK’s interests are best represented.
- Working closely with colleagues in Financial Stability group to track and influence UK and international proposals to improve the resilience of the asset management sector and ensure this work aligns with wider Government objectives for the sector.
- Promoting the UK’s approach to asset management regulation both domestically and internationally, through preparing Ministers and seniors to engage with leading industry figures, at international forums, and with Parliament.
Candidate Drop in Session
We will be running a session to provide an opportunity to discuss the role, and meet the hiring manager. If you have any questions about HM Treasury, the team, or the specifics of the role do come along, using the link below.
Monday 7th October @12.30 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 matilda.embling@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: The ability to put forward sound policy recommendations based on a range of evidence which may be incomplete.
- Delivering at Pace: The ability to drive forward a long-term project while also delivering short-term work, often under time pressure.
- Communicating and Influencing: The ability to distil technical detail into clear messages to convince seniors and ministers.
The lead criterion is: Making Effective Decisions
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 3rd October 2024 @ 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: 16th October 2024
Shortlisting: From 17th October 2024
Interviews: From 31st October 2024
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 Security Check (SC)
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.
Feedback will only be provided if you attend an interview or assessment.
Security
Nationality requirements
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 : Matilda Embling
- Email : matilda.embling@HMTreasury.gov.uk
Recruitment team
- Email : hrrecruitment@hmtreasury.gov.uk
Further information
