Deputy Director, Banking Assets and Resolution Strategy Recruitment

You will be successfully leading and providing direction to a diverse and fast-paced team (leadership)

About the Group

The Financial Stability Group has the aim of securing the stability of the UK financial sector for the benefit of the economy. It does this through identifying and analysing emerging risks to the financial stability of the UK and the global financial system, and preparing and responding appropriately. As part of this, it is responsible for intervening directly to manage the provision and withdrawal of public support for the financial services sector including the effective stewardship of the Government’s interests in NatWest bank. It is also responsible for ensuring the authorities have the appropriate toolkit for dealing with future failures and planning for future stability events. The Group works cooperatively with the Bank of England, the financial regulators (mainly Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)) to develop and maintain effective systems to monitor and assess financial stability risks, and ensure they are fully taken into account in the Treasury’s risk management framework. It manages the macroprudential framework, including the Bank of England’s Financial Policy Committee (FPC) remit and tools, and coordinates the Treasury’s interests in the global Financial Stability Board.

Please see below for a video introduction to the Treasury and the role

About the Team

The Banking Assets and Resolution Strategy team is a friendly and inclusive team of 15 people, with a varied and interesting range of work within the Financial Stability Group.  The team has a full and active forward agenda, with significant exposure to Ministers and senior officials.

The team comprises two units – the State-Owned Banking Assets unit and the Resolution Policy Unit.

The State-Owned Banking Assets unit is responsible for policy for exiting the government’s shareholding in NatWest Group and for handling the government’s exposures to the legacy liabilities of Northern Rock and Bradford & Bingley.  The unit is responsible for designing and delivering multi-billion pound sale transactions, working closely with UK Government Investments, and advising Ministers on the sales.

The Resolution Policy Unit is responsible for developing the UK’s resolution regime, which handles the failure of financial sector firms.  The unit ensures the UK authorities have the legal powers and tools they need to manage the failure of financial sector firms, in a way that protects the wider economy and public funds. We do this by working with the Bank of England, PRA, FCA, financial sector, and Parliament to deliver the vital legal powers and tools. We also work with our international counterparts to craft international standards for resolution regimes.