Managing Director – Financing Strategy Full Time

An exceptional opportunity to influence the UK’s sovereign financing strategy has arisen, working at the interface of government and global financial markets. This is a pivotal executive leadership role in a high-performing, purpose-driven organisation with a world-class reputation for excellence and integrity. Reporting directly to the Chief Executive, you will co-lead the Financing Strategy function, shaping and delivering the UK Government’s debt and cash management strategy.

About the DMO
The DMO is an Executive Agency of HM Treasury, responsible for managing the Government’s debt and cash, administering local authority lending, and overseeing certain public sector funds. Since its inception in 1998, the DMO has raised over £3.7 trillion in gilt issuance and manages annual cash operations exceeding £5 trillion.

The Financing Strategy area plays a central role in delivering the DMO’s mandate, with responsibilities spanning debt issuance, cash management, policy development, investor engagement, and strategic research.

About the role of Managing Director, Financing Strategy

You will be a key member of the Executive Committee and Advisory Board, contributing to strategic decision-making across the organisation and representing the DMO at the highest levels externally.

This role works in partnership with the other Managing Director, Financing Strategy with whom there are a number of shared, complementary and jointly owned areas of responsibility, to provide senior day-to-day management and oversight of the Policy, Research, Gilt Desk, Cash Desk, Business Operations and Business Development areas of the DMO, working closely in conjunction with the DMO’s senior team and the Executive Committee.

The purpose of the role is:

• To lead the DMO’s Markets, Gilts, Cash, Business Operations and Development teams that interact with the financial market primarily to deliver its core debt and cash management remits as mandated by Ministers.
• To lead the Policy and Research teams at the DMO, which includes interacting regularly with HM Treasury and other core external stakeholders.

To contribute to the wider management of the DMO as a member of the DMO’s Executive Committee and its Advisory Board, which involves providing strategic direction to a wide array of operational and policy issues affecting the DMO, including across Government and the financial market.

To develop and maintain excellent internal and external relationships, representing the DMO at the most senior levels, to ensure that its reputation for professional excellence, integrity and cooperation is maintained and enhanced.

Job description

Key Focus

Working in partnership with the other Managing Director, Financing Strategy on the strategic management of the key business areas and its business objectives, the day-to day focus of the role is to:

• Provide leadership of the policy and markets teams operating in a rigorous and thorough working environment.
• Together with the other Managing Director, Financing Strategy, manage the policy and markets teams, with a particular focus on developing and deploying DMO’s policy and analytical resources.
• Provide direction to, and quality assurance of, policy and markets teams’ outputs, in particular those relating to policy and analysis and applying these, as appropriate, to the DMO’s key activities and issues relevant to HM Treasury. This requires the development of written analysis and advice and developing proposals to be presented within government and externally.
• Engage at a senior level with stakeholders including HM Treasury and other public authorities, financial market participants including banks and investors and international counterparts.
• Sponsor key business initiatives and provide guidance to the DMO’s project work plan.

Person specification

Essential Criteria:

• High degree of familiarity with the technical issues associated with fixed income markets and a strategic understanding of factors affecting market conditions and developments.
• Analytical skills and technical insight that can be applied to the DMO’s core activities.
• Excellent oral and written communication skills, in particular to synthesise complex technical matters for a non-technical readership and audience.
• Strategic understanding of drivers which would affect policy advice around the implementation of debt financing programmes
• Ability to draft and review policy, with experience of presenting policy advice and analysis of options to a wide variety of stakeholders.
• Broad leadership skills. Able to manage small specialist teams and operate at executive level to set strategy and direction.

Desirable

• Experience of managing public sector stakeholders.

• Previous experience of operating collaboratively at senior level.

Experience, Skills and Knowledge

Experience

• Significant experience of working in a senior position in a financial market related role in the private or public sector, with a high degree of familiarity with the technical issues associated with fixed income markets and, above all, a strategic approach to, and understanding of, factors affecting public debt management, including market conditions and investor developments.
• A strong appreciation for current strategic issues affecting financial markets, for example, regulatory matters and the increased use of technologies and their application across different areas of finance.

Technical

• Excellent analytical skills and demonstrable track record in providing an analytical evidence base and technical insight with practical application to the DMO’s core activities, to ensure the provision of high quality, objective policy advice in the public interest on debt financing programmes and their implementation, as well as other policy matters arising.
• Substantial familiarity with money markets and the implementation of central bank monetary policy and a strategic understanding of liquidity risk and cash flow management as it applies to sovereigns.
• Strong oral and written communication skills, in particular to synthesise complex technical matters for a non-technical readership and audience.
• A strong understanding of the context and considerations that government has to navigate. The ability to develop, draft and review policy, with experience of presenting policy advice and analysis of options to a wide variety of stakeholders.
• Excellent management and interpersonal skills, based on experience of having led a team, with the capability to motivate and develop staff and maximise their potential. Strong teamwork experience with the ability to work at all levels, in partnership with the other Managing Director, Financing Strategy, as part of the core executive team, as well as leading multiple teams.

Management/Leadership

• Senior level experience in financial markets, including successful experience in managing a small team and/or market specialist staff.
• A track record of successfully influencing stakeholders.
• A track record of working collegiately in teams in a fast-paced environment; particularly relevant is experience of leading teams delivering time critical, high-profile transactions.
• Demonstrable experience of leadership for staff and managing/supporting their development.

Conduct

• Commitment to the Principles of Public Life/Civil Service Code, operating to the highest standards of integrity, and a strong appreciation of the DMO’s mandate and ethos as well as the ability to instil the ethos across the teams and their work.
• Understand implicitly the importance of, and always adhere strictly to, confidentiality, given the sensitivity of DMO information.
• Fully appreciate the need for scrupulous fairness and objectivity in all DMO relationships and decisions, and demonstrate a consistent, diplomatic approach, as well as always upholding the principles of public service.
• Demonstrate allegiance to objectivity and an evidence-based approach to decision making, in particular a focus on considering the long-term implications of decisions and fairness across stakeholder groups.
• Possess a clear focus on delivery and working at pace with complete accuracy, as well as being able to inspire this in a team.

Candidates – Please note that you will be asked to give evidence in your application of how you meet these criteria.

Benefits

Alongside your salary of £160,000, UK Debt Management Office contributes £46,352 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.

• Learning and development tailored to your role
• An environment with flexible working options
• A culture encouraging inclusion and diversity
• A Civil Service pension with an employer contribution of 28.97%
• Annual Leave – You will have an annual leave allowance of 27.5 days (pro-rata, dependent on start date) plus paid bank holidays.
• Subsidised gym membership
• Interest free season ticket loan
• Family friendly HR policies including paid maternity, paternity and adoption leave

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