The UK Debt management Office (DMO) is an executive agency of His Majesty’s Treasury. We are responsible for debt and cash management for the UK government, local authority lending operations and managing certain public sector funds. The DMO’s remit is to carry out the government’s debt management policy of minimising financing costs over the long term, taking account of risk, and to minimise the cost of offsetting the governments net cash flows over time, while operating within a risk appetite approved by ministers in both cases.
Since its creation in 1998, the DMO has successfully established itself as an integral part of wholesale financial markets, raising in excess of £3.1 trillion in total gilt issuance, while annual turnover in its cash management operation is currently around £8 trillion.
The DMO employs around 140 people. Approximately one third work within the Financing Strategy area, which is responsible for debt, cash and balance sheet management teams, and related transactions, as well as local government lending operations and the management of certain public sector funds.
The remaining staff work in the Operations directorate which comprises Finance, Settlements, Risk Management, Business Delivery, and Facilities teams. Business Delivery is the term used in the DMO to cover the Technology teams including Infrastructure, Applications, Testing, Business Analysis, Project & Programme management and Service Desk functions. It comprises approximately 60 staff.
Although structured into a number of functional teams, the DMO operates with a flat management structure and a collaborative, flexible approach. This enables teams to respond quickly to operational demands and evolving business needs. All staff have access to and are encouraged to undertake training and development opportunities
Job description
This is a new role for the organisation. The DMO is looking to enhance and develop its technology service to ensure that it continues to support the delivery of the DMO’s critical business objectives, whilst providing a clear strategy and roadmap for the future.
Maintaining the resilience, availability, standards and security of the systems that support the DMO’s market-facing operations is critical. The ability to operate seamlessly with Market Counterparties is paramount, and the safe and reliable delivery of these services will always be the DMO’s highest priority.
Alongside this, the DMO requires a forward-looking technology strategy to modernise, enhance and facilitate the implementation of new tools and services to support the delivery of the DMO’s mission-critical objectives. This includes further controlled adoption of automaton, business and data analytics, a strategy for further use of the cloud and artificial intelligence.
The DMO requires a technology leader who will lead the design and delivery of the technology strategy, ensuring the DMO continues to benefit from modern technologies and ways of working while preserving the resilience, security and reliability of its critical operations. This is a new role, reflecting the importance the DMO places on both current and future technology.
Key Focus
The Managing Director, Technology (MD, Technology) is a senior leadership role that is accountable for setting out a medium and long-term technology strategy, driving innovation and digital transformation, alongside overseeing the maintenance of a secure, resilient, and scalable technology environment that meets the critical business needs of the UK Debt Management Office (DMO).
The role provides strategic leadership for the technology function and contributes to the management and delivery of the broader business aims and objectives. The role reports jointly to the Deputy CEO, Operations and the Deputy CEO, Financial Strategy, which reflects the significance of the role across all parts of the DMO.
The MD, Technology has overall accountability for the DMO’s technology architecture, platforms, data, and infrastructure, ensuring they continue to meet the highest standards of resilience and operational performance. The role is also responsible for ensuring the DMO is well positioned to adopt new technologies and services to meet current and future business objectives.
The technology area within the DMO covers both operational and strategic activities, with the MD, Technology being directly responsible for the technology strategy. The MD, Technology will be supported by a deputy in the role of Head of Business Delivery, who is in turn responsible for leading the DMO’s technology operational delivery capability.
