Senior Policy Adviser

About the groupThe 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 teamThe Prudential and Sustainability Team has a varied and high profile remit. We develop policy on prudential banking and sustainable finance. We are made up of two units. One unit leads on prudential issues (which this role will be based in). The other unit focuses on sustainability issues.The team has taken forward significant amounts of legislation in the last few years and advised the Chancellor on high profile announcements on reforms brought in following the financial crisis. We are also delivering significant work to amend legislation which was inherited from the UKs membership of the EU. This is to ensure legislation operates effectively for the financial services sector.About the jobThis is a stretching role in a friendly and high performing team. The post holder will have significant autonomy to deliver important legislation and build a wide stakeholder network.The team is responsible for policy contained in the Capital Requirements Regulation and Securitisation Regulations. Following the 2008 financial crisis, these regulations aimed to protect households and investors by ensuring that banks hold enough capital to protect against the risk of loss and by introducing new safeguards for securitisation products being bought and sold in the market. The post holder will be expected to adapt to changes in the regulatory and policy environment for banking prudential regulation and securitisation regulation, but key responsibilities will include:Preparing legislation to transfer bank capital and liquidity regulation to regulator rulebooks and ensuring the delivery of advice and briefing to ministers throughout the legislative process.Advising seniors and ministers on how the UK financial regulators (the Financial Conduct Authority and Prudential Regulation Authority) are implementing new rules on capital requirements for banks and securitisation.Setting the direction for, and delivering, policy development regarding overseas regimes related to capital regulation.Leading policy development related to securitisation, including advising seniors and ministers on legislative requirements to support regulator rulemaking.Leading significant engagement with the Prudential Regulation Authority, Financial Conduct Authority, industry and teams across the Treasury, building strong relationships to support policy making.Line management of one SEO.Advising ministers and seniors on ad hoc policy issues related to banking prudential regulation and securitisation. This could include, for example, issues related to remuneration rules that banks must adhere to.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. The drop-in session will be held at 12pm on Friday 25 October. Join the meeting nowIf 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 Jeanie Watson at [email protected].