Director - Financial Services (London)

This role can be based in either London or Darlington, with an expectation of regular travel to the London office and to the City of London, where in-person meetings are likely to be required. There is scope for some hybrid working.

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.

This is an exciting and challenging leadership role as one of the Directors of Financial Services and a part of the collective leadership of the Treasury. The Director jointly leads the Financial Services Group, which collectively advises the government on how to promote a stable and efficient Financial Services sector, to deliver excellent outcomes for consumers and businesses, and enhance the UK's position as a global hub for financial services and support economic growth across the country.

The postholder will be responsible for leading on the domestic side of the Financial Services agenda, including:

• Reforming the regulatory framework for Financial Services.
• Improving outcomes for consumers and business users of Financial Services.
• Driving forward the competition agenda, including how to adapt regulatory policy to keep pace with the rapid pace of technological change in the Financial Services industry.
• Ensuring the growth of the sector.

You will also be responsible, with the Co-Director (Richard Knox), for leading a large and dynamic Group which has inclusion, diversity and belonging at its core. The postholder will report to the Director General of Financial Services, Gwyneth Nurse.

Key Responsibilities:

• Advising the Chancellor and Economic Secretary on financial services policy, taking account of the Treasury’s fiscal and economic objectives and helping them to achieve their mission to grow the sector.
• Delivering new policies to drive the Chancellor’s financial services strategy forwards including on the regulatory environment, domestic competition, payments, innovation, consumer issues and financial technology (FinTech).
• Jointly leading the Financial Services Group and its Group Management Team with the Co-Director.
• This will include direct line management and oversight of Banking and Credit, Financial Services Strategy, Insurance and Pension Markets, Payments and FinTech; and Personal Finances and Funds (currently 6 Deputy Directors).
• Jointly leading the delivery of HM Treasury’s Spending Review settlement for the Financial Services Group.
• Undertaking a significant representational function with the top players in the financial services industry including banks, insurers, asset managers, building societies and financial technology firms.
• Leading the Treasury’s relationship with the Financial Conduct Authority, the Financial Ombudsman Service and jointly leading Treasury’s relationship with the Prudential Regulatory Authority.
• Building relationships with Ministers, special advisers, other government departments, financial services firms, and consumer groups on financial services issues.

As a Director, you will also be part of the visible leadership of HM Treasury as a whole.

Person specification

When in post, the successful candidate will be expected to perform well across the full range of Senior Civil Service behaviours set out in the Success Profile framework and demonstrate commitment to the Civil Service values.

Essential Criteria:

• A detailed understanding of financial regulation and the financial services industry.
• Outstanding leadership skills including a proven track record of leading high-performing, inclusive teams to deliver in a complex, fast-paced environment.
• Strong strategic vision and the ability to develop creative, innovative policy in an environment of rapid technological change.
• Proven ability to operate in a policymaking environment and the ability to lead a large, technical and complex portfolio of policy development and legislation.
• Proven track record of working successfully and influencing senior industry leaders either in the field of financial regulation or a similarly technical environment.

Behaviours:

• Leadership
• Seeing the Big Picture
• Delivering at Pace
• Communicating and Influencing

Alongside your salary of £100,000, HM Treasury contributes £28,970 towards you being a member of the Civil Service Defined Benefit Pension scheme.

25 days’ annual leave (rising to 30 after 5 years).