Policy Adviser, Cryptoassets
HM Treasury
Apply before 11:55 pm on Sunday 24th November 2024
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About the job
Job summary
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
The Cryptoassets Unit leads on HM Treasury policy development for cryptoassets as financial services, including work to update the UK's regulatory framework address the risks and opportunities posed by this new asset class. The Unit consists of one Grade 6/E2, two Grade 7s/E, one HEO, and one SEO (the post being advertised here). We sit within a welcoming, friendly wider Payments and Fintech (PAF) team within the HMT Financial Services Group. The PAF team leads on:
- payments systems and services policy, including all the ways you can make a payment, such as cash, card, and the 'plumbing' which enables the payment to be made;
- financial technology innovation, known as 'FinTech', which refers to both technological innovation across financial services (such as Open Banking) and to a specific group of firms that combine innovative business models with technology to enable, enhance, and disrupt the financial services sector; and
- financial services policy for cryptoassets.
About the job
This role provides the opportunity to develop specialist expertise in cryptoassets, whilst building a strong transferable toolkit in critical central government functions, such as ministerial advice and developing legislation. Cryptoassets have become a high-profile issue within financial services. They have significant implications for consumers and the financial system more broadly. The post holder will join a high-performing team advising ministers on how best to manage these rapid developments and deliver a regulatory framework fit for the future.
The successful candidate will support the Cryptoasset Unit’s objective to advance the UK's thinking on cryptoasset policy and supporting the safe adoption of new technology. Key post-holder accountabilities could include:
- Policy development: Cryptoassets is a fast-evolving sector. You will work with others in the branch to formulate policy proactively and in response to international and domestic developments. This will also include actively monitoring developments in the cryptoassets space to identify and respond to emerging issues (for example, the emergence of decentralised finance – or Defi - financial products and services built on the blockchain).
- Producing legislation: The role is expected to involve substantial legislative work to update the UK’s framework for financial services regulation, to ensure that consumers are protected from the worst harms associated with cryptoasset investment, and that the UK has the right conditions for cryptoassets firms to innovate and grow.
- Engaging externally: Ongoing engagement with the cryptoasset sector is an important part of this role, in order to build expertise and ensure that HMT policy reflects the latest sector developments. The role also involves close working with the Financial Conduct Authority (FCA) and Bank of England, with which you will need to build and maintain robust functional networks.
- Advising ministers: The postholder will be responsible for briefing Treasury ministers, both in writing and verbally, to assist Ministers with decisions on cryptoasset policy and in dealing with parliamentary, media, and external engagement.
- Collaborating across government: A number of teams across government have established work to respond to specific challenges posed by blockchains and cryptoassets. We work closely with other parts of the Treasury and wider government to ensure a coherent policy response to a wide range of issues, including but not limited to the use of distributed ledger technology in financial markets, tax, competition, financial inclusion, and anti-money laundering.
Experience of working in or studying the field of digital currencies, fintech, economics or financial services regulation would be desirable but is not crucial, as is an interest in developing personal expertise and understanding of cryptoassets! There will be flexibility to adapt areas of responsibility depending on post holder experience and interest as well as business need.
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.
Friday 15th November 2024 @ 12:00Join 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 role, please contact Tal Renouf, taliesin.renouf@hmtreasury.gov.uk.
Person specification
We are looking for the below 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.
- Working Together : the ability to work effectively with professional partners both internally and externally to deliver complex policy outcomes.
- Making Effective Decisions : the ability to use evidence and knowledge to support accurate, expert decisions and advice.
- Delivering at Pace : the ability to take responsibility for delivering timely and quality results with focus and drive.
- Experience: Please outline your prior experience in one or more of the following areas (i) policy development, (ii) financial services, or (iii) cryptoassets.
The lead criterion is : Working Together.
If we receive a large number 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 15th November 2024 @ 12:30 - 13:15 Join the meeting now
Behaviours
We'll assess you against these behaviours during the selection process:
- Working Together
- Making Effective Decisions
- Delivering at Pace
- Seeing the Big Picture
We only ask for evidence of these behaviours on your application form:
- Working Together
- Making Effective Decisions
- Delivering at Pace
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: Sunday 24th November 2024 at 23:55
Shortlisting: w/c 25th November 2024
Interviews: w/c 2nd December 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 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
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Contact point for applicants
Job contact :
- Name : Tal Renouf
- Email : taliesin.renouf@hmtreasury.gov.uk
Recruitment team
- Email : hrrecruitment@hmtreasury.gov.uk
Further information
