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 Banking and Credit Team is a high-profile and friendly team of about 20 people with interests across a range of financial services issues. The team leads the Treasury’s policy work on retail banking, mortgages, business lending, building societies and mutuals, dormant assets, and the Government’s strategy for competition in financial services. The team works closely with a number of Treasury teams (in the Financial Services and Financial Stability Groups, the Fiscal Group and the Enterprise and Growth Unit), other government departments and with a wide range of partners, including all the major banks. 

About the Job

We are recruiting for a Policy Advisor for the Retail Banking branch of the Banking and Credit Team, which is responsible for policy relating to the UK retail banking sector. This includes the legislative and regulatory regime around supporting access to banking channels, current accounts and overdrafts. We are also responsible for the Governments relationships with the UK retail banks, and you will be required to develop extensive working-level relationships to support seniors and ministers delivering an effective engagement strategy with this sector.

The retail banking sector is one of the most critical in the UK economy, providing essential financial services for millions of people. The role is varied and high-profile, with significant ministerial, parliamentary and press interest and engagement. You will be the day-to-day lead for HM Treasury’s (HMT) work in this area, while also leading pieces of work on longer term priorities to ensure HMT has an effective and coherent medium-to-long term strategy for the sector.

1. 1. Lead on the development and delivery of retail banking policy (covering policy areas such as physical and digital access to banking, personal current accounts and competition, access to basic bank accounts and overdrafts) to develop policy options, advising ministers and leading on delivery of those policies including through legislation, guidance and voluntary industry initiatives.
   2. Manage a wide-ranging and high-profile portfolio, delivering high quality work across short and long term objectives, in the face of a dynamic and changing work environment.
   3. Forge strong and collaborative relationships with partners, across industry, financial regulators and across government policy teams, to support policy development and senior/ministerial engagement.
   4. Produce high-quality support and briefing for senior and ministerial engagement with the UK retail banking sector, including through written and verbal briefings and navigating lobbying on key issues, ensuring their engagement strategy is effective.
   5. Respond to parliamentary, public and press activity/enquiries on the policy area, including supporting ministers in parliamentary debates, and use these channels to identify and monitor developing policy issues.
   6. Act as a key point of contact for the retail banking policy area, dealing with issues and queries as they arise.

Candidate Drop-In Session

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 appropriate link below to join the call at the right time. 

Thursday 04 July – 13:00-13:45

Tuesday 09 July – 13:00-13:45

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 James.Rattigan@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.  

1. Ability to evaluate complex information and evidence, balancing trade-offs to develop evidence-based policy advice, and communicate a recommendation in an accessible way to senior decision makers (Making Effective Decisions).
2. Ability to autonomously deliver high quality work across short and long term objectives, in the face of a dynamic and changing work environment (Delivering at Pace).
3. Strong communication skills, with an ability to develop a meaningful partner network across government and industry to progress policy areas and represent government positions (Communicating and Influencing).

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

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.

04 July 2024 – 12:30 to 13:15

Benefits

Alongside your salary of £39,500, HM Treasury contributes £11,060 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.

Recruitment Timeline 

Closing date: 14 July 2024

Shortlisting: week commencing 15 July 2024

Interviews: week commencing 22 July and 29 July 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.

Location-Based Reserve Lists 

You will be placed on a reserve list if your application is successful, but we cannot offer you a post immediately. Where more than one location has been advertised, candidates will be approached for roles in merit order according to the first preferred location stated on your application form. 

Please note that a place on the reserve list does not guarantee an offer. We would still encourage you to apply for other HM Treasury opportunities that you are interested in. If you are offered a role in your first preferred location and you decline the offer or you are unable to take up the post within a reasonable timeframe, you will be removed from the reserve list, other than in exceptional circumstances. 

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.

Security

Successful candidates must meet the security requirements before they can be appointed. The level of security needed is counter-terrorist 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.