Director General, Financial Services
The post can be based in London (1 Horse Guards Road) or Darlington (our interim office is Bishopsgate House until the temporary office in central Darlington is established in 2022). All staff follow government guidance about working from home during the pandemic. Once Covid-19 restrictions ease, most Treasury employees will be working a hybrid pattern, spending 2-3 days a week (pro rata) in an office, on average.
About the job
ABOUT HM TREASURY:
If you’re interested in making a difference to people’s lives across the country, the Treasury is the department for you! We sit at the centre of everything that the Government does and have provided advice on economic policy and decisions that affect the public finances throughout the country’s history. A Treasury career continues to offer an exciting opportunity to be part of the decision making that affects the whole of the UK.
Working at the heart of government, we collaborate with other departments to ensure public money is spent well and to drive strong and sustainable economic growth. Our work ranges from protecting customers through to the regulation of the financial sector, helping to reduce carbon emissions and creating a greener economy, supporting people across the country through the COVID 19 furlough scheme and Plan for Jobs as well as helping first time buyers buy their first home.
Financial Services and Financial Stability are two dynamic, fast-paced and outward facing groups of the Treasury. The Director General (DG) post will have a critical role in leading these groups at a particularly important time. Over the coming years, there is significant volume of legislation to enshrine the new UK framework for financial regulation now that we have left the EU, and to update this legislation for the rapid pace of technological change in the financial services industry.
This role will provide an exciting and challenging opportunity to lead the agenda to secure financial stability, improve outcomes for consumers and business users of financial services, and to enhance the competitiveness of the financial services industry. The DG will play a central role in defining our new approach to financial services regulation in the UK and to drive through broader policy changes to secure the success of this critically important industry. Consumer issues will be another high priority given the continuing need to ensure that the financial services industry treats customers fairly and provides innovative new products and services to deliver better consumer outcomes. The DG will oversee our work on financial services trade, investment, and international competitiveness, as well as our work on domestic competition, innovation, and financial technology (FinTech).
The Director General role includes a significant representational function and requires close working relationships with other Government Departments, the Bank of England and the Financial Conduct Authority, consumer groups, major financial institutions, trade associations and other external stakeholders in the financial services sector. The role will include some international travel to conduct negotiations and build relationships with other national Finance Ministries, the European Commission and international organisations such as the IMF and FSB.
As a member of the Treasury’s Executive Management Board (EMB), which acts as the collective leadership of HMT, the Director General, Financial Services and EMB colleagues will be expected to actively and visibly shape the department’s forward work plan and monitor and manage the delivery of the whole range of HMT business. This will include horizon-scanning and addressing risks, ensuring resources are allocated efficiently and flexibly to priorities, in the best interests of the department as a whole.
The post-holder will need to demonstrate Civil Service and HMT values, and leadership behaviours which include: setting a clear vision and direction for the department; engaging its people; developing their capability; and managing a culture of high performance to enable the delivery of its objectives.
The post-holder will report to the Second Permanent Secretary of the Treasury, Charles Roxburgh. The post-holder will be responsible for supporting the relevant Directors by providing strategic leadership to three Directors in the following Treasury Groups: Financial Stability and Financial Services.
When in post, the successful candidate will be expected to perform well across the full range of Senior Civil Service behaviours and demonstrate a commitment to the Civil Service values. The essential criteria for the purpose of selection are:
– outstanding leadership skills, including a proven track record in leading an agenda in a complex environment;
– significant financial, economic and analytical expertise;
– detailed understanding of domestic and international financial regulation and the financial services industry;
– strong influencing and negotiating skills that achieve results, ideally in the field of financial regulation;
– a proven track record of working with senior leaders in a complex environment; and
– excellent representation and interpersonal skills.
FLEXIBLE WORKING ARRANGEMENTS:
HM Treasury views flexible working as essential in enabling us to recruit and retain talented people, ensuring that they are able to 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; working from home, compressed hours and job sharing. Additionally, we operate flexitime systems, allowing employees to take up to an additional 2 days off each month, providing you work enough hours to meet business need.
We also offer a generous maternity/ paternity and adoption leave package.
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 are able to realise their potential and achieve a healthy work-life balance.
• 25 days’ annual leave (rising to 30 after 5 years), plus 8 public holidays and the Queen’s birthday (unless you have a legacy arrangement as an existing Civil Servant)
• Flexible working patterns (part-time, job-share, condensed hours)
• Access to a generous Defined Benefit pension scheme with employer contributions.
• 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 (e.g. analysts, music society, sports and social club) and diversity (e.g. women in the Treasury, ethnic minority network, LGBT* network, faith and belief network)
Things you need to know
Successful candidates must meet the security requirements before they can be appointed. The level of security needed is developed vetting.
People working with government assets must complete basic personnel security standard checks.
Selection process details
As part of our pre-employment security checks, if you are invited to interview and are not a current HM Treasury member of staff, you will need to bring:
• Proof of identity, e.g. your passport or driver’s licence. Documents must be in date and valid.
• Proof of address, e.g. a utility bill or bank statement issued within the past 3 months
• Proof of your National Insurance (NI) number, e.g. letter from DWP confirming your NI number, or P60
• If you do not bring a UK or EU passport, you will need to bring other documentation of your right to work in the UK, e.g. your visa, biometric residence permit or birth certificate.
Further details regarding acceptable documents will be provided in the invitation to interview.
Please let us know if your contact details change at any time during the selection process.
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.
If you are shortlisted, you will be asked to take part in a staff engagement panel exercise and an individual leadership assessment. These assessments 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. More details will be provided to shortlisted candidates.
Feedback will only be provided if you attend an interview or assessment.
Open to UK nationals only.
Working for the Civil Service
The Civil Service Code 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.
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.
Apply and further information
Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.
Contact point for applicants
Name: HR Recruitment
Email: [email protected]
Email: [email protected]
Complaints Process: Our recruitment process is underpinned by the principle of appointment based on fair and open competition and appointment on merit, as outlined in the Civil Service Commissioners’ Recruitment Principles. If you feel your application has not been treated in accordance with these principles and you wish to make a complaint, you should in the first instance contact HMT by email at: [email protected] If you are not satisfied with the response you receive, you can contact the Civil Service Commission, which regulates all Civil Service recruitment