Head of Research Strategy
- London, England, United Kingdom
- Permanent, Full time
- UK Debt Management Office
- 04 Jan 18 2018-01-04
As the Government’s debt and cash manager, the DMO aims, with HM Treasury, to lead, develop and deliver the Government’s debt, cash and balance sheet management objectives. It also administers the Public Works Loan Board’s lending to local government and provides fund management services for a number of public sector clients.
The DMO operates at the centre of the financial markets, interacting with major financial institutions to balance the cash flows to and from Government on a daily basis and transacting in Government bonds (gilts) and Treasury bills to meet the Government's financing requirements. It is based in the City of London and its turnover in 2016-2017 was around £3.7 trillion.
The DMO has around 114 staff. About a third of the staff work in the Policy and Markets area which is responsible for debt, cash and balance sheet management policy and related transactions as well as for local government lending and for fund management. The rest of the office work in the Operations and Resources team which comprises finance, settlements, risk management, business delivery, HR and facilities teams. Although organised into a number of functional teams, staff operate flexibly to deal with issues as they arise and the office operates with few management layers. All staff have access to training and development opportunities and are encouraged to take them; the DMO is an accredited "Investor in People".
The DMO website (www.dmo.gov.uk) contains further information including details of our business plan.
The DMO is looking to recruit a new Head of Research Strategy (“HoRS” or “Chief Strategist”), which is a permanent management role with the opportunity to contribute at a senior level to the DMO’s overall business strategy and agenda, as well as leading the DMO’s research priorities.
As Chief Strategist, your role will be to lead a small team of research strategists, economists and quantitative analysts, providing both regular analysis and longer-term specialist research in relation to the DMO’s debt management function and other core activities. You will provide thought-leadership to the DMO’s research function, ensuring that research outputs are highly relevant, rigorous and effectively communicated.
Areas of significant research focus and outputs for the DMO include contributing to an assessment of the cost/risk trade-offs when developing the DMO’s annual financing remit. Examples of these outputs may be found in the Government’s annual Debt Management Report (specifically in Annex B), accessible via the following weblink:
The successful candidate will enjoy the intellectual challenge of developing and driving forward a research agenda which is highly relevant to the operational requirements of the DMO. The HoRS will be adept at leading a small team in which professionalism and collaborative working are highly valued. The team currently consists of six staff. In addition, the HoRS will contribute to the management of a wider group of staff in the Policy and Markets area.
The main qualities that the successful candidate will possess are the ability to lead a team with energy and vision, to think creatively, to appreciate the culture of the DMO and its research priorities and to have the persistence and dedication to drive forward the research agenda. Furthermore, the successful candidate will take a collaborative approach with colleagues across the Policy and Markets area to contribute to the development of a relevant research agenda in support of the DMO’s goal of being the centre of excellence in UK debt management.
The successful candidate will have relevant experience in either the private or public sectors (including in managing teams), excellent analytical ability, very strong communication skills, including both (i) an ability to communicate complex research strategy clearly and concisely in writing and (ii) the capacity to put forward ideas persuasively to senior colleagues orally both internally and externally.
Key Competencies for this role
Strategic Cluster / Setting Direction
- Seeing the Big Picture
- Changing and Improving
- Making Effective Decisions
People Cluster / Engaging People
- Leading and Communicating
- Collaborating and Partnering
- Building Capability for All
Performance Cluster / Delivering Results
- Achieving Commercial Outcomes
- Delivering Value for Money
- Managing a Quality Service
- Delivering at Pace
- A good first degree (minimum classification of 2.i) gained in a numerical/scientific, economics or finance-related discipline
- Familiarity with computer modelling An appreciation and understanding of recent developments in financial technology
- Ten years professional work experience gained in either the public or private sectors
- Experience with managing a small team
- Experience in producing written information/reports analysing and interpreting economic and/or financial market developments
- Experience with gathering, analysing and interpreting data (including economic and/or financial market data) using financial models, Excel or similar software
- Experience in making formal presentations to specialist and non-specialist audiences
- Ability to understand the wider context for your work and how this role would contribute to achieving the DMO’s/HM Treasury’s strategic objectives
- Previous exposure to sovereign debt management issues
- Strong aptitude for research in financial markets, including government bond and other fixed income markets.
- Some familiarity with the UK Government’s debt management policy, fiscal policy, and monetary policy, and the respective roles of the institutions involved.
Responsive and outward looking – communicating, persuading and influencing; thinking:
- Able to develop and manage relationships and strategic interactions with key stakeholders
- Demonstrable ability to communicate complex and technical information/ideas verbally and in written form to specialist and non-specialist audiences
- Very high standard in drafting written material
- Excellent attention to detail
- Experience of persuading and influencing senior management on the basis of an evidence-based approach.
- Experience of negotiating with external stakeholders whilst showing respect for and understanding of the positions of others.
Goal oriented – managing information; decision-making; analytical; planning/organising; focussing:
- Ability to work under pressure, sometimes to very tight deadlines, whilst maintaining high quality outputs
- Ability to manage and organise your own work programme and plan effectively to meet sometimes competing deadlines
- Experience in leading a small team, including managing performance and setting agendas and priorities
- Willingness to take ownership and drive through to conclusion the production of key outputs of the team, to the agreed deadlines
Team working and flexibility:
- Ability to work collaboratively in a team environment including across different teams
- Ability to work flexibly including capacity to: (i) alter work priorities rapidly/at short notice; and (ii) be responsive to the requirements of key stakeholders
Creating and excellent place to work – Maximising potential; motivating self and others:
- Bringing a professional and enthusiastic approach to your work and a proactive approach to new challenges
- Looking out for and taking-up opportunities to develop professional knowledge and skills.
This post will be based in the DMO’s office in the City of London. This is a full time post.
To apply, please email your CV and a covering letter (detailing examples that demonstrate your relevant experience and skills in support of your application) to HR@dmo.gsi.gov.uk
The candidates who are assessed, from the information provided as best meeting the requirements of the role, will be invited to interview. Please note that only candidates shortlisted for interview will be informed of the progress of their application.
The selection process may involve some skills or aptitude testing for which you will be given prior notice.
There will be some checks on the nationality, health and other matters before an appointment is formally offered. To assist these enquiries you will be asked to produce your passport.
The UK Debt Management Office values diversity and we aim for our workforce to reflect the society we serve. We guarantee an interview to any candidate with a disability who meets the essential requirements for the post.
This post is subject to a full open competition and will be advertised internally and externally via a civil service trawl and media advert. All are eligible to apply regardless of employment/contract status.
Civil Service Trawl
This post is being advertised internally and via a civil service trawl. Only permanent employees and staff employed on a fixed term basis via open competition are eligible to apply for this post.
Open on Promotion? Yes
Benefits and Terms
Pensions - The DMO offers a choice of pension arrangements giving you the opportunity to choose the pension that suits you best. More details are available on www.civilservice-pensions.gov.uk
The salary for the role is between £80,000-90,000 - only in exceptional circumstances would more be available.
Leave - You will have an annual leave allowance of 27.5 days on appointment (pro-rata to length of contract) plus paid bank holidays.
Probation - You will normally be subject to a period of probation for the first six months of the appointment. The DMO may exercise its discretion in extending the probationary period beyond three months where considered necessary.
Investors in People – As an Investor in People, the DMO values skills and expertise and is committed to training and development. It is a rewarding place to work, respecting people, with an open management culture and a common sense of purpose.
Appropriate training will be provided if this is required to fulfil the objectives of the role.