Policy Adviser - State-Owned Banking Assets

About the Group The Financial Stability Group advises government on ensuring the stability of the UK financial system and economy. We track new and existing risks to the financial stability of the UK and the global financial system, taking action to mitigate risks and combat these when needed. We intervene directly to manage any public support for the financial services sector including stewardship of (and exit from) the governments interests in NatWest Bank. Were also responsible for ensuring that the financial authorities have the appropriate legal powers and resources to deal with future failures in the financial sector, as well as planning for future stability events. The Group works with the Bank of England, the Prudential Regulation Authority, the Financial Conduct Authority, the intelligence agencies and international partners, to build and maintain systems to monitor assess and deal with financial stability risks. About the TeamThe Banking Assets and Resolution Strategy team is a friendly and inclusive team of around 15 people, with a varied and interesting range of work within the Financial Stability Group. The team has a full and active forward agenda, with significant exposure to ministers and senior officials. The team comprises two units the State-Owned Banking Assets unit and the Resolution Policy Unit. The State-Owned Banking Assets unit is responsible for policy relating to financial sector assets taken on as a result of the 2007-2009 financial crisis, including the Treasurys shareholding in NatWest Group (NatWest) and ongoing interest in UK Asset Resolution (UKAR, a government owned company handling the governments exposures to the legacy liabilities of Northern Rock and Bradford & Bingley). The unit works closely with UK Government Investments (UKGI) as it develops and advises Ministers on policy to exit these multi-billion pound interventions in the financial sector. The Resolution Policy Unit is responsible for developing the UKs resolution regime, which handles the failure of financial sector firms. The unit ensures the UK authorities have the legal powers and tools they need to manage the failure of financial sector firms, in a way that protects the wider economy and public funds. The unit works closely with the Bank of England, Prudential Regulatory Authority, Financial Conduct Authority, industry, and Parliament to deliver the vital legal powers and tool; and also with international counterparts to craft international standards for resolution regimes. About the JobThe primary focus of the role will be to support policy for the governments shareholding in NatWest, one of the largest banks in the UK. The government recapitalised the bank, acquiring an 84% shareholding, as part of a number of interventions made as a result of the global financial crisis to restore economic and financial stability to the UK economy. With that objective long achieved, the policy objective is to fully return the bank to the private ownership through sales of the governments shareholding. Significant progress has been made against this objective in recent years, with the shareholding now reduced to below 18%. The government intends to fully exit this shareholding by 2025/26, subject to market conditions and achieving value for money. You will be supporting delivery of this objective, with sales of the shareholding raising billions of pounds in revenue to support the delivery of wider public services.In addition to the work on the NatWest shareholding you may also support the work of the team in delivering a managed wind down of the UK Asset Resolution (UKAR) intervention. This involves assessing the best way to resolve a number of complex liabilities, including policy to defund and transfer the companys pension schemes to central government.Role OverviewYou will be responsible for facilitating the policy and operational preparedness for NatWest share disposals. You will lead on critical aspects of share sale preparations and supporting their careful execution (recent sales have been among the largest transactions in UK markets), and on issues related to the management of the shareholding.The role will provide you with experience of: close working with senior officials and ministers in the Treasury to develop and agree appropriate disposal options; exposure to market-facing commercial decisions and actors; and management of a range of critical relationships, including with UK Government Investments (UKGI, who manage the shareholding on behalf of the Treasury), NatWest and other external advisers and interested parties from inside and outside government.Key Accountabilities for this role include:Sales strategy working with UKGI to assess the viability and feasibility of options for selling down the governments shareholding. You will advise senior officials and ministers on the most appropriate strategy and adapt the approach to changing circumstances as required.Sale preparation and execution co-ordinating and managing the process of preparing and implementing sale options, working closely with UKGI to ensure we are collectively prepared to execute sales in a professional and effective manner.Shareholding management advising ministers on issues relating to the management of the shareholding and issues relating to the intervention in the bank.Building and maintaining positive relationships with colleagues across the Civil Service and public sector, and with external advisers and other organisations from the private sector.Providing clear advice and briefings to the Treasury Accounting Officer and ministers and handling ministerial and other correspondence on issues relating to the NatWest shareholding, working closely with others, including our Press Office, to ensure accurate and timely responses are provided.Preparing for fiscal events (e.g. Budgets), working with colleagues across the Treasury and at the Office for Budget Responsibility (OBR) to produce forecasts for sales of the governments financial assets.In addition, you should be prepared to be flexible, with options to support the wider work of the team and group, in particular supporting policy work on the wind-down of the governments interest in UKAR should it be required.Candidate Drop-In Session Microsoft Teams 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 link below to join the call at the right time.  Tuesday 17th September 12:00 13:00: 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 Georgia Anderson [email protected]