Treasury eyes new financial services director general to oversee Brexit shake-up

Treasury wants new director general to lead a "change management programme" at the ministry, prompted by Britain's vote to leave the EU

By Matt Foster

09 Aug 2016

The Treasury is on the lookout for a new director general to take on the "exciting and challenging" task of leading the finance ministry's response to the Brexit vote. 

The previous financial services DG, Charles Roxburgh, was promoted to become second permanent secretary at the Treasury last month after John Kingman announced his intention to leave the department for a private sector role.

Writing to potential applicants for the role, which is open both to existing civil service staff as well as outsiders, Roxburgh says the new DG will play "a central role in our work negotiating a new relationship with the European Union in financial services".

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He adds: "We are looking for someone with an outstanding record of leadership and management, and with excellent analytical and communication skills. They must have the credibility to act as the chancellor’s most senior policy adviser on financial services and financial stability, to command the respect of the Treasury’s staff, and to influence senior leaders in other departments, agencies and the multiplicity of stakeholders across the world of finance and business."

The successful candidate will, according to the Treasury job pack, be expected to lead a "change management programme" at the ministry, prompted by Britain's vote to leave the EU.

"The outcome of the EU Referendum will clearly have a significant impact on the Financial Services and Financial Stability Groups. This will mean changes to the way in which these Groups are structured and operate."

The job advert also makes clear that the new Treasury DG will be involved in "significant" international travel "to conduct negotiations and build relationships with the European Commission, Finance Ministries and international organisations".

The Treasury's latest annual report anticipates the referendum result will have "significant staffing implications" for the finance ministry – which currently has just over 1,400 permanent civil servants in its core department – as negotiations for Brexit begin in earnest.

The successful candidate for the Senior Civil Service Pay Band 3 role is expected to command a salary of around £125,000 per year, with the possibility of performance-related bonuses on top of that. 

They will report directly to the second perm sec, and be responsible for providing leadership to three directors working in the Treasury's Financial Stability and Financial Services groups.

Shortlisted candidates will face an interview panel which includes Roxburgh, the Treasury's recently-appointed perm sec Tom Scholar – fresh from serving as the government's top European Union adviser – and the Cabinet Office's director general of the civil service, Indra Morris.

Those interested in applying have until September 1st to throw their hat into the ring.


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