Overview
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. The role works in partnership with the other Managing Director, Financing Strategy 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.
Key Responsibilities
* Lead the DMO's Markets, Gilts, Cash, Business Operations and Development teams that interact with the financial market to deliver its core debt and cash management remits as mandated by Ministers.
* Lead the Policy and Research teams, interacting regularly with HM Treasury and other core external stakeholders.
* Contribute to the wider management of the DMO as a member of the Executive Committee and Advisory Board, providing strategic direction to operational and policy issues affecting the DMO.
* Develop and maintain excellent internal and external relationships, representing the DMO at the most senior levels to ensure its reputation for professional excellence, integrity and cooperation is maintained and enhanced.
* 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, focusing on developing and deploying the DMO's policy and analytical resources.
* Provide direction to, and quality assurance of, policy and markets teams’ outputs, applying analysis to key activities and issues relevant to HM Treasury.
* Engage at a senior level with stakeholders including HM Treasury, other public authorities, financial market participants and international counterparts.
* Sponsor key business initiatives and provide guidance to the DMO's project work plan.
Essential Criteria
* High degree of familiarity with fixed‑income market technical issues and 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, synthesising complex technical matters for a non‑technical audience.
* Strategic understanding of drivers affecting policy advice around the implementation of debt‑financing programmes.
* Ability to draft and review policy, presenting 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.
* Experience of managing public sector stakeholders and operating collaboratively at senior level.
Desirable
* Experience operating in senior public sector stakeholder environments.
* Experience of delivering time‑critical, high‑profile transactions.
* Strong teamwork experience with ability to work across the executive team.
Application Requirements
Supporting statement and CV should clearly demonstrate how you meet the essential skills in the Sift criteria. Incomplete applications will not be reviewed. A sift based on the lead criteria may be conducted if a large number of applications are received. Candidates who pass the initial sift may be progressed to a full sift or directly to interview. Feedback will only be provided if you attend an interview or assessment.
Interview Process
* Stage 1: Informal conversation with senior members of the DMO (not assessed); psychometric testing; formal interview.
* Stage 2: For successful candidates from Stage 1 – second informal discussion; presentation; formal interview.
Informal conversations will be with Jo Whelan (Deputy Chief Executive & Co‑Head of policy and markets) and Martin Egan (Non‑Executive Director). Further details will be shared with shortlisted candidates ahead of each stage.
Behaviours
Stage 1: Managing a quality service, Leadership, Working together, Changing and improving.
Stage 2: Making effective decisions, Communicating & Influencing, Seeing the bigger picture.
Security
Successful candidates must undergo a criminal record check and meet the security requirements before appointment. The level of security needed is a security check. People working with government assets must complete baseline personnel security standard checks.
Nationality Requirements
* UK nationals
* Nationals of the Republic of Ireland
* Nationals of Commonwealth countries who have the right to work in the UK
* Nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS)
* Nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the EUSS
* Individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
* Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service
People and Inclusion
We are a Disability Confident Employer. Applicants with a disability who wish to take part in the disability confident scheme will be offered an interview, provided they meet the sift criteria. A Diversity Monitoring Form is part of the application. All data is reported anonymously and in aggregate.
Salary and Benefits
* Salary of £160,000.
* £46,352 contribution towards the Civil Service Defined Benefit Pension scheme.
* Learning and development tailored to your role.
* Flexible working options.
* Civil Service pension with an employer contribution of 28.97 %.
* Annual leave allowance of 27.5 days pro‑rated, 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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