Policy Adviser, Asset Management

About the GroupThe Financial Services Group advises the government on how to promote a stable and efficient financial services sector. As a Group, we strive to deliver excellent outcomes for both consumers and businesses, enhance the UKs position as a global hub for financial services, and support economic growth across all nations and regions of the country. The financial services sector is critically important to the UK economy: it creates a significant number of jobs and makes a large contribution to the UKs 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 management firms, financial advisors and insurers are well-regulated. We ensure that firms treat customers fairly, that customers have access to a range of financial services as a result of competition in the market, and that 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 Business and 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 TeamPersonal Finances and Funds team brings together the strategic oversight of the asset management and consumer credit sectors in the UK, with responsibility for the protection of consumers to whom they provide services. Our work is challenging, fast-paced and high profile, but we are a fun, friendly and inclusive team with consistently high staff engagement. The team consists of three units: The Consumer Credit Unit, which leads government policy towards the 200bn consumer credit market. The Financial Inclusion, Capability and Consumer Debt Unit, which ensures that financial services are available and affordable to all, consumers are equipped to navigate them, and appropriately supported where they fall into debt. The Asset Management Unit, which sets HMTs strategy for the UKs 10.3 trillion asset management industry.The asset management sector is critical to the UKs economic success. With 10.3 trillion of assets managed in the UK its the second largest sector of its kind globally, and it plays a central role in growing the savings of UK citizens, and channelling investment into key Government priorities such as major infrastructure projects, innovative growing companies, and the transition to Net Zero. The role of the Asset Management Unit is to ensure this sector continues to flourish and work effectively in the best interests of consumers and the economy.About the RolePolicy making in Government, and the actions we take as policy advisers, set the course for the whole UK economy and for peoples everyday lives.Great policymaking is about understanding what needs to change, what problems need to be solved and supporting Ministers to arrive at the best solution to deliver the change. Policy also means working out how we are going to make the changes or solve the problems, and then delivering on those plans. To do all this, we need to build relationships with Ministers, Civil Service colleagues, groups with expertise and the public.This exciting and stretching role provides the opportunity to see the policymaking process through from beginning to end, developing, testing, and implementing proposals to improve the key asset management regulations to boost the competitiveness of the sector applying to alternative asset managers (including private equity and hedge fund managers).The post holder will lead the delivery of flagship reforms to regulations apply to alternative asset managers (including managers of hedge funds and private equity funds), and work across a range of other exciting policy areas affecting the asset management sector, including regularly advising senior civil servants and ministers on a range of policy areas. This role entails core civil service policy-making skills. It would suit someone who is familiar with managing a busy workload, is comfortable delivering a project through from beginning to end and can communicate complex concepts easily to non-experts. The role does not require any previous experience or knowledge of financial services.Key accountabilities include:Designing and implementing policy to ensure the UK has a robust and internationally competitive framework for alternative fund managers. This will involve developing expertise on relevant asset management regulation, conducting analysis and undertaking engagement to test proposals, as well as providing clear and comprehensive advice to Treasury seniors and ministers.Lead on scoping and delivering this ambitious and cross-cutting programme of reform for asset management regulation, from consultation to legislative phase, working closely with lawyers and ensuring key milestones are mapped out and adhered to.Leading on engagement with the Bank of England, Financial Conduct Authority and industry stakeholders, to ensure the Governments approach to asset management regulation is effective and proportionate. This will involve forging close relationships to build consensus across organisations acting as a credible partner and challenger to deliver policy in areas where there are competing objectives and interests.Maintaining an international outlook, closely tracking international developments related to the asset management sector, engaging on an international level with your policy counterparts and overseas delegations, and co-ordinating the Asset Management Units input into set piece international events to ensure the UKs interests are best represented.Working closely with colleagues in Financial Stability group to track and influence UK and international proposals to improve the resilience of the asset management sector and ensure this work aligns with wider Government objectives for the sector.Promoting the UKs approach to asset management regulation both domestically and internationally, through preparing Ministers and seniors to engage with leading industry figures, at international forums, and with Parliament. Candidate Drop in SessionWe will be running a session to provide an opportunity to discuss the role, and meet the hiring manager. If you have any questions about HM Treasury, the team, or the specifics of the role do come along, using the link below.Monday 7th October @12.30 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 [email protected]