Policy Adviser - National Savings & Investments

Are you looking for a stretching and exciting role working closely with one of the largest savings organisations in the UK? If so, we'd love to hear from you!

About the Team

The Debt & Reserves Management (DRM) team manages key financial assets and liabilities on the public sector balance sheet - using analysis, oversight, and our stakeholder links to Bank of England, the Debt Management Office, National Savings & Investments and the Royal Mint.

This role is part of the Retail Debt and Cash Issuance (RDCI) branch in DRM, a friendly, supportive, and dynamic team leading on a wide ranging, and high profile set of policy issues, with significant engagement from ministers and Special Advisers. The branch is responsible for developing strategy and legislation related to banknote and coins; working closely with the Bank of England and the Royal Mint; sponsorship, policy and spending for National Savings and Investments (NS&I).

About the Job

The post holder will work within the NS&I side of the RDCI branch. As NS&I's sponsor and spending team, RDCI supports NS&I in developing the strategic, operational, and financial framework it operates under. RDCI is also responsible for advising Ministers on this framework and any wider policy or operational measures that impact NS&I's performance and debt-raising role.

In this role, you will:

• Lead on government's retail financing policy, including analysing information relating to proposed interest rate changes on NS&I's savings products, assessing the cost effectiveness of NS&I as a source of finance, advising seniors and Ministers on the annual retail financing requirement and considering the future role of retail debt financing. This will require working closely with private offices and leading the relationship with NS&I's Retail Directorate to critically assess policy options and provide detailed and impactful advice to Ministers which balances HMT and NS&I's views and interests. At present, this involves advising Ministers on proposed changes to interest rates on a near monthly basis.
• Develop, implement, and monitor the next phase of the Green Savings Bonds introduced at Budget 2021. This involves strategically assessing how this product sits alongside NS&I's other products and creating and assessing policy options to integrate the product into NS&I's product offering whilst maintaining transparency and meeting the requirements of the Green Financing Programme.
• Challenge and support NS&I in the delivery of its major transformation programme, a multi-billion-pound change programme currently in flight. This requires close and collaborative work with NS&I to monitor programme delivery and spend against agreed timelines and budgets whilst maintaining sight of risks and as needed, challenging risk management strategies or other elements of the programme. The post holder will often work closely with HMT's central spending team and branch members who focus on overall NS&I spending to proactively manage any risks of over/under spending. As needed, the post holder will also lead HMT approval processes at key stages of the programme to ensure compliance with Green Book procedures and outcomes balance programme delivery with the interests of the taxpayer. This programme is a key interest for Ministers and the post holder will have the opportunity to lead on advice to Ministers.

For a more detailed list of responsibilities please refer to the advert on Civil Service Jobs.

About You

You will have excellent interpersonal skills and an ability to build constructive stakeholder relationships and to work collaboratively to resolve policy issues. You will be able to prioritise and progress varied pieces of work in a timely and effective way and collaborate effectively with a range of stakeholders, including other organisations.

Some of the Benefits our people love!

• 25 days annual leave (rising to 30 after 5 years), plus 8 public holidays and the King's birthday (unless you have a legacy arrangement as an existing Civil Servant). Additionally, we operate flexitime systems, allowing employees to take up to an additional 2 days off each month
• Flexible working patterns (part-time, job-share, condensed hours)
• Generous parental and adoption leave packages
• Access to a generous Defined Benefit pension scheme with employer contributions of 28%
• Access to a cycle-to-work salary sacrifice scheme and season ticket advances
• A range of active staff networks, based around interests (e.g. analysts, music society, sports and social club) and diversity

For more information about the role and how to apply, please follow the apply link.

If you need any reasonable adjustments to take part in the selection process, please tell us about this in your online application form, or speak to the recruitment team at