Details

Reference number

385707

Salary

£41,630 - £47,500

London: £44,630 - £47,500 / National: £41,630 - £44,500. If the successful candidate is a current Civil Servant joining on level transfer, HM Treasury will honour their current substantive salary if higher.

A Civil Service Pension with an employer contribution of 28.97%

Job grade

Senior Executive Officer

Contract type

Permanent

Business area

HMT - Fiscal

Type of role

Policy

Working pattern

Flexible working, Full-time, Part-time

Number of jobs available

Contents

Location

About the job

Benefits

Things you need to know

Apply and further information

Location

This post can be based in London (1 Horse Guards Road) or Darlington (Feethams House).

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

Fiscal Group works on a wide-ranging set of issues at the heart of the Treasury’s objectives and of fiscal events such as Budgets. We are responsible for ensuring the sustainability of the government’s finances, overseeing its macroeconomic policy framework, and stable and efficient financing of government liabilities. Work includes advising the Chancellor on the appropriate levels of borrowing and debt (as well as broader commitments like guarantees & insurance), providing analysis of the government’s finances, overseeing financing raised for the government by the Debt Management Office and National Savings & Investments. We work with teams across the Treasury to support decisions on the full range of policy. We also have a particularly wide and deep range of relationships beyond the Treasury including the Office for Budget Responsibility, Bank of England, and the Office for National Statistics.

Delivering these objectives requires a range of skills and backgrounds, and we are proud of our diversity.

About the Team

The Debt & Reserves Management (DRM) team manages key financial assets and liabilities on the public sector balance sheet – using analysis, oversight and our stakeholder links to Bank of England, the Debt Management Office, National Savings & Investments (NS&I) and the Royal Mint.

This role is part of the Retail Debt and Cash Issuance (RDCI) branch in DRM, a friendly, supportive and dynamic team leading on a wide ranging, and high profile set of policy issues, with significant engagement from ministers and Special Advisers. The branch is responsible for developing strategy and legislation related to banknote and coins; working closely with the Bank of England and the Royal Mint; and sponsorship, policy and spending for NS&I. The post holder will be working in the NS&I side of the branch.

About the Job

NS&I is one of the largest savings organisations in the UK with 25 million customers and more than £220 billion invested. It plays a crucial role in raising finance to meet the government’s annual borrowing requirement, raising several billions of pounds a year for the government by issuing savings products like Premium Bonds and ISAs.

As an organisation, NS&I is part way through a major long-term transformation which will lead the business into a flexible scalable operation that can continue to serve savers and the government for generations to come.

As NS&I’s sponsor and spending team, RDCI supports NS&I in developing the strategic, operational, and financial framework it operates under. This covers a range of areas such as supporting NS&I in developing its strategy to raise finance, ensuring NS&I is adequately funded to deliver its objectives, reviewing NS&I’s performance against service delivery measures, budgets etc. RDCI is also responsible for advising Ministers on this framework and any wider policy or operational measures that impact NS&I’s performance and debt-raising role.

This is a stretching and exciting role with significant autonomy and exposure to seniors in NS&I. The successful candidate will:

Lead on government’s retail financing policy, including analysing information relating to proposed interest rate changes on NS&I’s savings products, assessing the cost effectiveness of NS&I as a source of finance, advising seniors and Ministers on the annual retail financing requirement and considering the future role of retail debt financing. This will require working closely with private offices and leading the relationship with NS&I’s Retail Directorate to critically assess policy options and provide detailed and impactful advice to Ministers which balances HMT and NS&I’s views and interests. At present, this involves advising Ministers on proposed changes to interest rates on a near monthly basis.
Develop, implement, and monitor the next phase of the Green Savings Bonds introduced at Budget 2021. This involves strategically assessing how this product sits alongside NS&I’s other products and creating and assessing policy options to integrate the product into NS&I’s product offering whilst maintaining transparency and meeting the requirements of the Green Financing Programme.
Challenge and support NS&I in the delivery of its major transformation programme, a multi-billion-pound change programme currently in flight. This requires close and collaborative work with NS&I to monitor programme delivery and spend against agreed timelines and budgets whilst maintaining sight of risks and as needed, challenging risk management strategies or other elements of the programme. The post holder will often work closely with HMT’s central spending team and branch members who focus on overall NS&I spending to proactively manage any risks of over/under spending. As needed, the post holder will also lead HMT approval processes at key stages of the programme to ensure compliance with Green Book procedures and outcomes balance programme delivery with the interests of the taxpayer. This programme is a key interest for Ministers and the post holder will have the opportunity to lead on advice to Ministers.
Lead policy and the relationship with the Bona Vacantia division of the Government’s Legal Department. This division is responsible for disposing of ownerless properties and estates and dissolved businesses which revert back to the state. This element of the role involves representing DRM at quarterly meetings to monitor inflows from the Bona Vacantia division and supporting the team as needed on ad-hoc policy issues relating to Bona Vacantia.

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.

Tuesday 14th January 2025 @ 15:30 - 16:00 - Join the meeting now (Meeting ID: 322566267519, Passcode: 9bv6Ri9j)

Friday 17th January 2025 @ 11:00 - 11:30 - Join the meeting now (Meeting ID: 331451322966, Passcode: SH695rv7)

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 alysha.kassam@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.

Excellent interpersonal skills and an ability to build constructive stakeholder relationships and to work collaboratively to resolve policy issues (Communicating and Influencing)
Ability to prioritise and progress varied pieces of work in a timely and effective way (Delivering at Pace)
Ability to collaborate effectively with a range of stakeholders, including other organisations (Working Together)

The lead criterion is Communicating and Influencing

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:

Communicating and Influencing
Delivering at Pace
Working Together
Seeing the Big Picture
Making Effective Decisions

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. Interviews will be carried out via Microsoft Teams.

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.

Thursday 16th January 2025 @ 12:30 - 13:15 Join the meeting now

Behaviours

We'll assess you against these behaviours during the selection process:

Communicating and Influencing
Delivering at Pace
Working Together
Seeing the Big Picture
Making Effective Decisions

We only ask for evidence of these behaviours on your application form:

Communicating and Influencing
Delivering at Pace
Working Together

Benefits

Alongside your salary of £41,630, HM Treasury contributes £12,060 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.

25 days’ annual leave (rising to 30 after 5 years), plus 8 public holidays and the King's birthday (unless you have a legacy arrangement as an existing Civil Servant)
Flexible working patterns (part-time, job-share, condensed hours)
Generous parental and adoption leave package.
A Civil Service Pension which provides an attractive pension, benefits for dependants and average employer contributions of 28%
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 and diversity

Flexible Working Arrangements

HM Treasury views flexible working as essential in enabling us to recruit and retain talented people, ensuring that they can 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; part-time, compressed hours and job sharing. Additionally, we operate flexitime systems, allowing employees the flexibility to adjust their working patterns throughout the week which is subject to operational needs and line management approval.

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 can realise their potential and achieve a healthy work-life balance.

HM Treasury operates an office based working approach across all Treasury sites - Darlington, London, and Norwich, and along with the rest of the Civil Service, has an expectation of a minimum of 60% attendance in the office, along with working remotely. This blended working approach allows you to work collaboratively, meet stakeholders face to face, support others and promotes a healthy work life balance (please be aware that this role can only be worked in the UK and not overseas). Some roles will not be suitable for Hybrid Working. Similarly, Hybrid Working will not suit everyone’s circumstances. Arrangements will be discussed and agreed with the successful candidate(s) and subject to regular review. All our offices have been recently modernised and designed to collaborate and connect with colleagues as well as desk and quiet space to allow a range of ways to work.

The office working expectation is linked to the location of the role. If you apply to a post in a single location, then you will not be able to meet this expectation at any of our other sites or move your role to another location.

Things you need to know

Selection process details

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

Recruitment Timeline

Closing date: Tuesday 21st January 2025
Shortlisting: From 22nd January 2025
Interviews: w/c 10th February 2025

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.

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.

Those on the reserve list may also be approached for similar roles at a lower grade. If you are offered a role at a lower grade and choose to decline, you can remain on the reserve list.

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, for example if you have been working abroad on a government posting, 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.

Diversity and Inclusion

The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see the Civil Service People Plan (opens in a new window) and the Civil Service Diversity and Inclusion Strategy (opens in a new window).

Apply and further information

This vacancy is part of the Great Place to Work for Veterans (opens in a new window) initiative.

The Civil Service welcomes applications from people who have recently left prison or have an unspent conviction. Read more about prison leaver recruitment (opens in new window).

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

Job contact :

Name :

Alysha Kassam

Email :

alysha.kassam@hmtreasury.gov.uk

Recruitment team

Email :

hrrecruitment@hmtreasury.gov.uk

Further information

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: hrrecruitment@hmtreasury.gov.uk. If you are not satisfied with the response you receive, you can contact the Civil Service Commission, which regulates all Civil Service recruitment.

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