Policy Adviser - Prudential Banking

Policy Adviser
- Prudential Banking
Salary:
National: £43,090 - £46,500. If the successful candidate is a current Civil Servant joining on level transfer, HM Treasury will honour their current substantive salary if higher.
Contract Type:
Permanent
Working Pattern:
This post is available on a full time, part time or job share basis, and flexible working hours can be accommodated.

Location:

Darlington (Feethams House) only

Do you want an exciting, multifaceted role at the heart of economic and financial policy making, at a time when the legislative framework for financial services is evolving significantly?

This role offers the successful candidate the opportunity to develop strong policy, legislative, and stakeholder engagement skills, while working on high-profile issues affecting the UK’s financial system.

About the Team
The Prudential and Sustainability Team has a varied and high-profile remit. We develop policy on prudential regulation and sustainable finance. We are made up of two units. One unit leads on prudential issues, which this role sits in. The other unit focuses on sustainability issues.
The team has taken forward significant amounts of legislation in recent years, including the Chancellor’s announcement of the UK’s approach to the final post-crisis reforms brought in following the financial crisis. We are also making major changes to how UK banks and investment firms can operate in overseas jurisdictions, significantly affecting the UK’s international trade. We are also delivering a programme of work to amend legislation which was inherited from the UK’s membership of the EU to ensure it operates effectively for the financial services sector.

The key responsibilities of the post-holder will be:
The team is responsible for policy relating to the Capital Requirements Regulation, Securitisation Regulations, the Investment Firms’ Prudential Regime, and the Capital Requirements Directive. This legislation, developed in response to the 2008 financial crisis, ensures that banks hold sufficient capital against risks and that securitisation markets operate safely and effectively.
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:
Leading on key aspects of HM Treasury’s work on the Financial Policy Committee (FPC) review of bank capital.
Leading HMT’s work on the prudential treatment of cryptoassets, in collaboration with the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).
Advising senior officials and Ministers on how UK regulators are implementing new rules on bank capital requirements and securitisation.
Supporting HM Treasury’s work assessing the impact of EU banking regulation on the UK and identifying appropriate mitigants to support the growth and competitiveness of the UK banking sector.
Developing and maintaining a strong understanding of prudential regulation, including frameworks such as Basel 3.1 (the final set of post-crisis reforms relating to bank capital), and monitoring developments in other jurisdictions’ implementation and the implications for the UK.
Supporting the development of securitisation policy, including providing advice to senior stakeholders on legislative requirements to enable regulator rule making.
Building and maintaining strong relationships across the PRA, FCA, industry, and HM Treasury to support effective policy making.
Contributing to the wider work of the department to ensure financial regulation and policy supports competitiveness and growth, while maintaining financial stability.
This job requires:
Good verbal and written communication skills to provide the best quality advice to seniors and ministers.
Interpersonal skills to be able to take forward challenging long-term policy projects while delivering short-term tasks - such as briefing requests,  ability to develop and maintain working relationships with internal and external stakeholders to support and influence policy development.
Sound judgement to make effective policy decisions and progress policy work in a fast-paced environment.

About…