About the job

Job summary

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.  

HM Treasury is proud of a diverse and inclusive work environment, committed to fairness and the promotion of equality of opportunity for all. We know that having a range of experiences, ways of working and thinking makes us stronger and better at developing policy that reflects the needs of every community. We embrace different views and experiences and value the new perspective that people from a variety of circumstances bring to the work we do. We welcome applications from candidates who have not previously worked for the Civil Service, mid- and late-career changers with transferrable skills, people from all backgrounds and circumstances regardless of disability, gender, age ethnicity, LGBT+ identity and socio-economic status.  

We are part of the , 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 2.3 million jobs and representing over 10% of tax receipts, making a huge contribution to the UK’s economic output. It also provides essential services to individuals – for example, helping them to purchase goods, buy their first home, and plan for their retirement. 

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 collaborate 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 Financial Services Strategy (FSS) team is a diverse, collaborative and inclusive team of 19 people. It sits in the centre of the Financial Services Group and is responsible for ensuring a coordinated approach to the department's overarching financial services strategy. The team provides a central hub to develop and drive overarching strategy and co-ordination on a range of sector wide initiatives. This includes leading the group's input into key events in the financial services and economic calendar such as Mansion House and Budget. We are also responsible for the group’s governance structures and programme management processes to monitor the delivery of financial services priorities.

The team also has responsibility for the Treasury’s regulatory strategy for financial services. This includes the relationship and key accountability mechanisms between the government and the financial services regulators. We also lead on the government’s financial services legislative programme. This includes delivering the legislative programme to replace the very large body of assimilated EU law relating to financial services with rules and regulations designed specifically for the UK. It involves determining and delivering the future legislation necessary to support the Treasury’s strategic priorities for the future of financial services.

The work is fast-paced and wide-ranging. The team works very closely with Treasury Ministers and senior leaders, setting strategic direction for the group and supporting the implementation of the government’s objectives across the financial services sector.

The Deputy Director of FSS is expected to take an active leadership role in Financial Services Group (around 150 people), alongside your DD and Director colleagues in the Group Management Team. Our Group is a supportive and exciting place to work, one which takes diversity and inclusion and staff wellbeing very seriously, championing these through its Great Group programme.

About the Job

Key responsibilities of the role include:

1. Playing an active role in the leadership of the Financial Services Group through membership of the Group Management Team. This will include leading on key corporate projects, change management, and playing a visible role connecting the Group with colleagues across the Treasury.
2. Leading the FSS team of around 19 FTE, setting a strong strategy for government’s priorities in financial services policy, helping the team deliver its policy objectives, and fostering a high-performing and supportive team.
3. Building relationships of trust with Ministers, supporting them to meet their goals with evidence-led advice and providing appropriate challenge.
4. Building outstanding and influential relationships with senior leaders at the financial services regulators, in industry and across Whitehall, to further HMT’s objectives on financial services.
5. Balancing competing objectives and priorities in making strategic recommendations to Ministers, undertaking horizon-scanning to spot upcoming opportunities and risks that the group should prepare for.
6. Developing and delivering strategies for ensuring the effective functioning of the Financial Services Group, ensuring a joined-up approach to strategy, policy and delivery across the group.

Candidate Drop-In Session 
We 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 the recruitment process. If you would like to join us, then use the appropriate link below to join the call at the right time. 

Join the meeting now

Meeting ID: 372 577 281 957

Passcode: qgxGX2

If you would like further details prior to the closing date for applications, please contact hrrecruitment@hmtreasury.gov.uk 

Person specification

Please review the Candidate FAQ document that is attached to the advert for guidance on how to complete your application.

Required Skills, Experience and Behaviours:

For your application, please send us a CV and a statement of suitability setting out how you meet the following behaviours and experience. This should be no longer than 1,500 words, and include no more than 250 words on each criteria below;

1. Ability to lead and motivate a team within a demanding, changeable and highly political environment 
2. A track record of working across a large, complex and often technical area of policy to identify key issues and opportunities and develop creative policy responses
3. Work across team and organisational boundaries to develop strong partnerships that enable you to deliver a joined-up and strategic approach to financial services policy
4. Translate strategic priorities into clear, outcome-focused objectives and workplans, responding quickly and effectively to changing circumstances and cutting through ambiguity to set clear direction for the team and wider group 
5. Ability to build excellent and influential relationships with very senior stakeholders across a range of sectors and on a very diverse set of issues A track record of public policy-making and working closely with regulators, in financial services or a similarly technical and highly-regulated area 
6. A track record of public policy-making and working closely with regulators, in financial services or a similarly technical and highly-regulated area 

At interview stage, you will be assessed on the below criteria: 

• Experience
• Strengths
• Behaviours:
  • Seeing the Big Together
  • Delivering at Pace
  • Leadership
  • Communicating and Influencing

Interview Task

Prior to your interview, we will contact you about a task that the interview panel would like you to complete as part of the assessment. The exact details will be communicated to you nearer the time. 

Benefits

Alongside your salary of £75,000, HM Treasury contributes £20,250 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.

Things you need to know

Selection process details

This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours, Strengths and Experience.

Scenario-based leadership exercise

If you are shortlisted, you will be asked to undertake a scenario-based leadership exercise as part of the interview process. This assessment will not result in a pass or fail decision. Rather it is designed to support the panel’s decision making and highlight areas for the panel to explore further at interview.  

At the interview stage, applicants for this post will be assessed against the same criteria as detailed in the candidate assessment of skills and experience section of this job description which may include Experiences and Behaviours – however the panel will ask you about different aspects of these at the interview.

The interview panel may, where appropriate, add additional behaviour-based criteria at interview. Where this is done, this will always be advertised to you before you apply, details of the behaviours being assessed at interview are below.

Recruitment Timeline 

Closing date: 19th May 2024

Shortlisting: w/c 20th May 2024

Leadership Exercise: w/c 27th May 2024

Interviews: w/c 17th June 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. 

Individuals appointed to the Treasury Group will be subject to National Security Vetting. To allow for meaningful checks to be carried out applicants will normally need to have lived in the UK for at least 3 out of the past 5 years. A lack of UK residency in itself is not always a bar to security clearance but the Department will need to consider eligibility on a case by case basis using all information that can be obtained following a successful application. 

Everyone working with government assets must complete Baseline Personnel Security Standard (BPSS) checks.  

For many roles, security clearance is also required. Successful candidates must meet the security requirements of the role before they can be appointed. The level of security clearance required for this role is Security Check (SC)  

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.

Security

Successful candidates must meet the security requirements before they can be appointed. The level of security needed is security check (opens in a new window).

See our vetting charter (opens in a new window). People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements (opens in a new window)

Working for the Civil Service

The Civil Service Code (opens in a new window) sets out the standards of behaviour expected of civil servants.

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). The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria. The Civil Service also offers a Redeployment Interview Scheme to civil servants who are at risk of redundancy, and who meet the minimum requirements for the advertised vacancy.