Senior Policy Adviser, Asset Management Unit

About the Group The Financial Services Group advises the government on how to promote a stable and efficient financial services sector, to deliver excellent outcomes for consumers and business, enhance the UKs position as a global hub for financial services and support economic growth across the country. The financial services sector is important to the UK economy providing significant numbers of jobs and making 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 firms, financial advisors and insurers are well-regulated. Ensuring firms treat customers fairly, customers have access to a range of financial services as a result of competition in the market, and 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 International 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 Team Personal 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 and High Risks Investments Unit, a team of seven which sets HMTs strategy for the UKs 10.3 trillion asset management industry.  We are home to the second-largest asset management centre in the world. The sector is crucial to Londons success as a global financial centre and is the largest outside the US. The asset management industry operates globally, and the unit looks at policy changes needed to ensure that this industry can continue to thrive. About the JobThis is an exciting, stretching, and varied leadership role. The successful applicant will be heading a branch to deliver the governments priorities and shape the long-term domestic framework for the sector, ensuring it remains the global powerhouse that it is today.   The post includes line management responsibility and will involve core civil service policy making skills, including developing and implementing policy measures to protect UK consumers and boost the competitiveness of the sector. It will require managing a lively and varied portfolio, and will also provide an opportunity for strategic policy development, shaping the future of the UKs fund regime using sound evidence and analysis.  The post holder will also need to develop strong relationships with a range of stakeholders including industry, external regulators, and cross-Whitehall stakeholders to understand and craft the role of asset managers in tackling some of societys pressing challenges, such as climate change and pensions reform. In particular, you will work closely with the Financial Conduct Authority (FCA) one of the UKs independent financial services regulators to develop a robust framework for refreshing and modernising the regime for the asset management industry and leading the strategy for Ministerial engagement for this crucial sector.  You dont need to be a policy professional or have any specific qualifications to apply to work as a Senior Policy Adviser at HM Treasury. We are looking for people who have the right set of skills for the role, who demonstrate the values of our organisation, and who are motivated to come and work with us on a range of issues that are at the heart of how we spend money and deliver public services. Key accountabilities include:  Building effective relationships with a wide range of stakeholders to develop a strong understanding of the UK asset management sectors priorities and identifying policy opportunities and risks. This includes engaging with industry, trade bodies, the regulators, as well as key colleagues within HM Treasury and across Whitehall. Leadership on policy issues affecting the sector - including sustainable finance, tax and corporate governance reforms - to ensure they are compatible with HMTs overall strategic objectives for the asset management sector. Ensuring the domestic framework is delivering for industry by continually reviewing the UKs funds regime the legislative, regulatory and tax framework underpinning the asset management sector and where necessary developing and implementing innovative new measures to enhance the UK sectors international competitiveness. This includes introducing the Reserved Investor Fund (a brand-new type of investment vehicle) and helping the sector harness the benefits of innovative new technologies. Ensuring that domestic asset managers are meeting government objectives by convening ministers, industry leaders and senior regulators to set the strategic direction of the asset management sector. This includes designing and delivering the Asset Management Taskforce a ministerial forum and creating and driving a work programme for the Taskforce which focuses on the key policy issues of the day. Ensuring that the domestic regulatory framework delivers the right outcomes for consumers and financial markets. This includes leading on the Treasurys response to the Competition and Market Authoritys recommendation that investment consultants be regulated, work with other teams to consider how to improve outcomes for pension fund beneficiaries, and overseeing the impact of the regulation of the funeral plan sector. Advising Ministers, special advisers, senior officials and colleagues on a range of issues within your portfolio. This includes rapidly upskilling on developing and emerging issues, describing complex areas of policy in a clear and concise fashion in both written and verbal form, making well evidenced and informed recommendations, and communicating government positions publicly in an effective manner. Providing direct line management for at least x1 Range D (HEO/SEO) and managing future resourcing requirements. This will involve contributing to the overall management of the Asset Management Unit, in which we are committed to developing an inclusive environment where all members of staff can thrive. You will also be expected to make a broader corporate contribution across the Personal Finance and Funds team and wider Financial Services Group.  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.  Monday 14th October at 12:30 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 Mrudula Podila ([email protected]).