Co-Head of Policy and Markets

Location : DMO London (City) headquarters An executive leadership role has arisen, reporting directly to the Chief Executive Officer (CEO), in one of the most important financial institutions in the United Kingdom. This is a high profile role acting to promote and safeguard the UK's reputation and credibility as a borrower of the highest international standing. The Organisation As an Executive Agency of the Treasury, the DMO acts as the Government's debt and cash manager. It aims, with the Treasury, to lead, develop and deliver the Government's debt and cash management objectives. It also administers the Public Works Loan Board's lending facility 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 implementing the Government's annual gilt sales programme. The DMO has advised governments on the financing strategy for, and raised, in excess of £3.1 trillion in total gilt issuance since its inception. Its annual turnover in its cash management operations is currently around £5 trillion. The Role Reporting directly to the CEO and sitting on the DMO's Advisory Board, this is a senior executive role co-heading the Policy and Markets team of the DMO. The Co-Heads of Policy and Markets contribute to ensuring that the Government is able to meet its financial obligations smoothly and cost effectively. You will act as a trusted advisor on the gilt market, as well as being responsible for the Government's continued ability to run a world class debt management programme. This team is responsible for providing advice to the Treasury on debt, cash and balance sheet management policy issues and the implementation of the government's financing programme and other operational activities. The role will focus on the strategic management of this area and its business objectives. In particular you will ensure the DMO is able to work effectively with both the public sector (especially HM Treasury and the Bank of England) and private sector institutions (notably the Gilt-Edged Market Makers (GEMMs), gilt investors and the DMO's counterparties in the money markets. You will build credible relationships with Ministers, the top officials in HM Treasury and senior leaders in market participant firms alike. You will be a key public representative of the gilt market, advocating for the DMO and the UK's interests. The Person The DMO is seeking applications from individuals with experience in a senior position in a financial markets role, preferably with a high degree of familiarity with the technical and operational issues associated with fixed income and money markets. Additionally, we require strong communication skills in order to synthesise complex technical matters for a range of stakeholders, as well as excellent management and interpersonal skills with the capability to develop staff and maximise their potential. A collegiate approach is essential as the role requires interaction with senior stakeholders in the market and government. Similarly, we need candidates to demonstrate a commitment to civil service values, operating to the highest standards of integrity, and with a strong appreciation of the DMO's mandate and ethos. The role works alongside a Co-Head, the Deputy CEO, with whom there are a number of shared areas of responsibility. For more information please see our microsite: or contact our retained consultants – Andrew Timlin or Owen Quant on The closing date is 15 November 2024. Initial interviews are likely to take place in week commencing 25 November. Final interviews likely to take place in week commencing 9 December. Diversity is vital to the success of this role, and to the Civil Service as a whole. We actively welcome applications from candidates from all backgrounds, with different experiences and perspectives – and we are committed to ensuring that we work in an inclusive way that means everyone in the Civil Service can perform at their best. TPBN1_UKTJ