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 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 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 with ease, buy their first home, and plan for their retirement. During the COVID-19 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 (BAC) is a high-profile, friendly and supportive team of about 20 people with interests across a range of important 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 large 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 external stakeholders, including all the major banks. 

About the Job 

The team has a vacancy for a stretching and high-profile role in the Business Lending & Competition Unit; the role will give the post-holder the opportunity to shape Government policy in a wide-ranging and fast-paced area.
 
Since the 2008 financial crisis, businesses lending been near the top of the financial services agenda. Such interest was heightened by COVID-19, in response to which the Government rapidly launched a number of government-backed loan schemes to support businesses through the ongoing disruption and subsequent macroeconomic challenges. Today a keen focus continues on ensuring that the UK has a competitive and well-functioning lending market which is supporting UK businesses to meet cashflow needs, invest and grow – whether big businesses or entrepreneurs just starting out.

The post-holder can expect to shape the Treasury’s assessment of how the business lending market is performing and develop policies to support access to lending for small and medium-sized enterprises, such as the Growth Guarantee Scheme. The post-holder will also lead the Treasury’s oversight of the COVID-19 loan guarantee schemes; around £80bn of lending to 1.5mn businesses through commercial lenders. 

The post-holder can expect significant exposure to ministers and senior officials, with opportunities to work with a broad range of internal and external parties including the major banks and alternative finance providers, industry and consumer representatives, the British Business Bank, the Bank of England and other Government Departments. 

You don’t need to be an experienced civil servant to apply. 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 for this role include:

1.    Lead a branch of two Range Ds, helping them to deliver across the branch’s busy portfolio while supporting personal development, performance and wellbeing. The post-holder will also have the opportunity to contribute to the management of the wider team. 

2.    Proactively monitor and analyse the UK business lending market. This will involve working closely with the British Business Bank, the government-owned development bank, as well as industry and other government departments to assess the demand and supply of capital for businesses and entrepreneurs across the country.

3.    Work closely with other departments and Treasury spending colleagues to design, develop, and introduce policies to support business lending in the UK, such as the Growth Guarantee Scheme. 

4.    Lead the Treasury’s oversight of the government’s COVID-19 loanbook; communicate key developments in repayment rates for ministers and senior officials and draw analytical insights to inform the development of outstanding policy positions. The post-holder will also lead the Treasury’s engagement with the COVID-19 loans counter-fraud strategy, working closely with other government departments and agencies to solve any outstanding issues, and contribute to our submission to the COVID-19 Inquiry.

5.    Develop and implement an analytical work programme. Scope and perform discrete analysis to deliver insights into the performance of the business lending market. The post-holder will also have opportunities to provide analytical support on policy issues across the wider Banking and Credit team, including retail banking, home ownership and mortgages.

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. 
 
16th April at 13:30hrs 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 Victoria Ogden (victoria.ogden@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.    Making Effective Decisions - Strong analytical skills, with an ability to assess a range of information and evaluate evidence to make effective decisions and/or recommendations to seniors and ministers.

2.    Developing Self and Others - Ability to lead, motivate and manage a busy team to deliver across a wide portfolio, demonstrating a commitment to inclusion, development and wellbeing.

3.    Working Together - Ability to represent the Treasury and work with a diverse range of stakeholders at all levels, building relationships proactively to pool expertise to address policy problems.
 
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. 

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

•    Strengths
•    Behaviours:
-    Making Effective Decisions 
-    Developing Self and Others 
-    Working Together  
-    Seeing the Big Picture 

Interview Task/Presentation
Prior to your interview, we will contact you about a task/presentation 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 £52,960, HM Treasury contributes £14,299 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: 21 April 2024

Shortlisting: w/c 22 April 2024

Interviews: w/c 29 April 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 Counter Terrorist Check (CTC) 

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.