Managing Director- Financing Strategy

City of London

Job Summary
An exceptional opportunity to influence the UK's sovereign financing strategy has arisen,working at the interface of government and global financial markets

This is a pivotal executive leadership role in a high-performing, purpose-driven organisationwith a world-class reputation for excellence and integrity.

Reporting directly to the Chief Executive, you will co-lead the Financing Strategy function,shaping and delivering the UK Government's debt and cash management strategy.

*About The DMO*
The DMO is an Executive Agency of HM Treasury, responsible for managing the Government's debt and cash, administering local authority lending, and overseeing certain public sector funds. Since its inception in 1998, the DMO has raised over £3.7 trillion in gilt issuance and manages annual cash operations exceeding £5 trillion.

The Financing Strategy area plays a central role in delivering the DMO's mandate, with responsibilities spanning debt issuance, cash management, policy development, investor engagement, and strategic research.

*About The Role Of Managing Director, Financing Strategy*
You will be a key member of the Executive Committee and Advisory Board, contributing to strategic decision-making across the organisation and representing the DMO at the highest levels externally.

This role works in partnership with the other Managing Director, Financing Strategy with whom there are a number of shared, complementary and jointly owned areas of responsibility, to provide senior day-to-day management and oversight of the Policy, Research, Gilt Desk, Cash Desk, Business Operations and Business Development areas of the DMO, working closely in conjunction with the DMO's senior team and the Executive Committee.

The Purpose Of The Role Is:

• To lead the DMO's Markets, Gilts, Cash, Business Operations and Development teams that interact with the financial market primarily to deliver its core debt and cash management remits as mandated by Ministers.
• To lead the Policy and Research teams at the DMO, which includes interacting regularly with HM Treasury and other core external stakeholders.

To contribute to the wider management of the DMO as a member of the DMO's Executive Committee and its Advisory Board, which involves providing strategic direction to a wide array of operational and policy issues affecting the DMO, including across Government and the financial market.

To develop and maintain excellent internal and external relationships, representing the DMO at the most senior levels, to ensure that its reputation for professional excellence, integrity and cooperation is maintained and enhanced.

Job Description
Key Focus
Working In Partnership With The Other Managing Director, Financing Strategy On The Strategic Management Of The Key Business Areas And Its Business Objectives, The Day-to Day Focus Of The Role Is To:

• Provide leadership of the policy and markets teams operating in a rigorous and thorough working environment.
• Together with the other Managing Director, Financing Strategy, manage the policy and markets teams, with a particular focus on developing and deploying DMO's policy and analytical resources.
• Provide direction to, and quality assurance of, policy and markets teams' outputs, in particular those relating to policy and analysis and applying these, as appropriate, to the DMO's key activities and issues relevant to HM Treasury. This requires the development of written analysis and advice and developing proposals to be presented within government and externally.
• Engage at a senior level with stakeholders including HM Treasury and other public authorities, financial market participants including banks and investors and international counterparts.
• Sponsor key business initiatives and provide guidance to the DMO's project work plan.

Key Focus
Working In Partnership With The Other Managing Director, Financing Strategy On The Strategic Management Of The Key Business Areas And Its Business Objectives, The Day-to Day Focus Of The Role Is To:

• Provide leadership of the policy and markets teams operating in a rigorous and thorough working environment.
• Together with the other Managing Director, Financing Strategy, manage the policy and markets teams, with a particular focus on developing and deploying DMO's policy and analytical resources.
• Provide direction to, and quality assurance of, policy and markets teams' outputs, in particular those relating to policy and analysis and applying these, as appropriate, to the DMO's key activities and issues relevant to HM Treasury. This requires the development of written analysis and advice and developing proposals to be presented within government and externally.
• Engage at a senior level with stakeholders including HM Treasury and other public authorities, financial market participants including banks and investors and international counterparts.
• Sponsor key business initiatives and provide guidance to the DMO's project work plan.

Person specification

*Essential Criteria:*

• High degree of familiarity with the technical issues associated with fixed income markets and a strategic understanding of factors affecting market conditions and developments.
• Analytical skills and technical insight that can be applied to the DMO's core activities.
• Excellent oral and written communication skills, in particular to synthesise complex technical matters for a non-technical readership and audience.
• Strategic understanding of drivers which would affect policy advice around the implementation of debt financing programmes
• Ability to draft and review policy, with experience of presenting policy advice and analysis of options to a wide variety of stakeholders.
• Broad leadership skills. Able to manage small specialist teams and operate at executive level to set strategy and direction.

Desirable

• Experience of managing public sector stakeholders.
• Previous experience of operating collaboratively at senior level.

*Experience
Experience, Skills and Knowledge*

• Significant experience of working in a senior position in a financial market related role in the private or public sector, with a high degree of familiarity with the technical issues associated with fixed income markets and, above all, a strategic approach to, and understanding of, factors affecting public debt management, including market conditions and investor developments.
• A strong appreciation for current strategic issues affecting financial markets, for example, regulatory matters and the increased use of technologies and their application across different areas of finance.

Technical

• Excellent analytical skills and demonstrable track record in providing an analytical evidence base and technical insight with practical application to the DMO's core activities, to ensure the provision of high quality, objective policy advice in the public interest on debt financing programmes and their implementation, as well as other policy matters arising.
• Substantial familiarity with money markets and the implementation of central bank monetary policy and a strategic understanding of liquidity risk and cash flow management as it applies to sovereigns.
• Strong oral and written communication skills, in particular to synthesise complex technical matters for a non-technical readership and audience.
• A strong understanding of the context and considerations that government has to navigate. The ability to develop, draft and review policy, with experience of presenting policy advice and analysis of options to a wide variety of stakeholders.
• Excellent management and interpersonal skills, based on experience of having led a team, with the capability to motivate and develop staff and maximise their potential. Strong teamwork experience with the ability to work at all levels, in partnership with the other Managing Director, Financing Strategy, as part of the core executive team, as well as leading multiple teams.

Management/Leadership

• Senior level experience in financial markets, including successful experience in managing a small team and/or market specialist staff.
• A track record of successfully influencing stakeholders.
• A track record of working collegiately in teams in a fast-paced environment; particularly relevant is experience of leading teams delivering time critical, high-profile transactions.
• Demonstrable experience of leadership for staff and managing/supporting their development.

Conduct

• Commitment to the Principles of Public Life/Civil Service Code, operating to the highest standards of integrity, and a strong appreciation of the DMO's mandate and ethos as well as the ability to instil the ethos across the teams and their work.
• Understand implicitly the importance of, and always adhere strictly to, confidentiality, given the sensitivity of DMO information.
• Fully appreciate the need for scrupulous fairness and objectivity in all DMO relationships and decisions, and demonstrate a consistent, diplomatic approach, as well as always upholding the principles of public service.
• Demonstrate allegiance to objectivity and an evidence-based approach to decision making, in particular a focus on considering the long-term implications of decisions and fairness across stakeholder groups.
• Possess a clear focus on delivery and working at pace with complete accuracy, as well as being able to inspire this in a team.

Candidates – Please note that you will be asked to give evidence in your application of how you meet these criteria.

Alongside your salary of £160,000, UK Debt Management Office contributes £46,352 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.

• Learning and development tailored to your role
• An environment with flexible working options
• A culture encouraging inclusion and diversity
• A Civil Service pension with an employer contribution of 28.97%
• Annual Leave - You will have an annual leave allowance of 27.5 days (pro-rata, dependent on start date) plus paid bank holidays.
• Subsidised gym membership
• Interest free season ticket loan
• Family friendly HR policies including paid maternity, paternity and adoption leave

Selection process details

Timetable
These dates are indicative and are subject to change

• Application deadline: 23:55 on Sunday 7 December 2025 Shortlisting: Week commencing 8 December 2025
• Psychometric tests/informal conversations: Week commencing 15 December 2025
• 1st stage Interviews: Week commencing 5 January 2026
• Informal conversations week commencing 12 December 2026
• 2nd stage Interviews: Week commencing 19 January 2026

Sift Criteria
*Essential Criteria*
In selecting interview candidates for this vacancy, we will use the Civil Service Success Profiles to assess you against the following:

• Experience:High degree of familiarity with the technical issues associated with fixed income markets and a strategic understanding of factors affecting market conditions and developments. (Lead)
• Technical:Analytical skills and technical insight that can be applied to the DMO's core activities including financial analysis, data interpretation, and economic insight.
• Communicating & Influencing: Excellent oral and written communication skills, in particular to synthesise complex technical matters for a non-technical readership and audience.
• Experience: Strategic understanding of drivers which would affect policy advice around the implementation of debt financing programmes.(Lead)
• Communicating and influencing :Ability to draft and review policy, with experience of presenting policy advice and analysis of options to a wide variety of stakeholders.
• Leadership:Broad leadership skills. Able to manage small specialist teams and operate at executive level to set strategy and direction.

Desirable

• Experience of managing public sector stakeholders.
• Previous experience of operating collaboratively at senior level.

Qualifications
Degree-level education, preferably in a numerate discipline.

Please ensure your supporting statement and CV clearly demonstrate how you meet the Essential skills in the Sift criteria. The supporting statement and CV will be assessed.Incomplete applications will not be reviewed

A sift based on the lead criteria may be conducted if in the event of a large number of applications being received. Candidates who pass the initial sift may be progressed to a full sift or progressed straight to interview.

Feedback will only be provided if you attend an interview or assessment.

Interview Process
Interview-
There will be a two-stage interview process for this vacancy.

Stage 1: Shortlisted candidates will be invited to take part in the following:

• An informal conversation (not assessed) with senior members of the DMO. This is an opportunity for candidates to learn more about the role and the organisation. This conversation is informal and not assessed.
• Psychometric testing
• A formal interview

Stage 2: Candidates who are successful at Stage 1 will be invited to the final stage, which will include:

• A Second informal discussion with senior members of the DMO. This provides a chance to reflect and ask further questions, and gain deeper insight into the role and the organisation's culture. This conversation is informal and not assessed.
• A presentation
• A formal interview

Informal conversations will be with: Jo Whelan Deputy Chief Executive & Co-Head of policy and markets & Martin Egan Non Executive Director. Further details will be shared with shortlisted candidates ahead of each stage.

Behaviours Assessed At Stage 1 Of Interview:
At interview, we will use the Civil Service Success Profiles to assess you against your Experience, Strengths, Technical Skills, and the following Behaviours:

• Managing a quality service
• Leadership
• Working Together
• Changing and improving

Behaviours Assessed At Stage 2 Of Interview:

• Making Effective decisions
• Communicating & Influencing
• Seeing the bigger picture

*Selection Panel:*
(In exceptional circumstances it may be necessary to alter the membership of the panel, if this happens you will be informed at the earliest opportunity)

*1st Stage Interviews:*
Paul Canty Managing Director, Financing Strategy

Sharmin Takin, General Counsel

Gary Admans, Non-Executive Director

Peter Robinson , Human Resources

*2nd Stage Interview:*
Jessica Pulay, Chief Executive Officer

Paul Canty Managing Director, Financing Strategy

Stephen Farrington, Director, HM Treasury

Farrah Chishty, Human Resources

*How To Apply
Hays, an Executive Search firm, have been appointed to assist with this recruitment campaign. To apply for this post, you will need to submit documentation below via the following link,
by no later than 23:55pm on Sunday
7th December 2025.
Please follow link to apply: Managing Director - Financing Strategy application portal*
If you have any issues with the link or questions regarding the documentation, please contact:

• Andrew Timlin: ,
• Owen Quant:

*Your Application Should Include:*

• The reference number and role title.
• Your CV, with educational and professional qualifications and full employment history, including an explanation of any gaps in your employment history, and details where possible of budgets and numbers of people.
• A short covering statement of no more than two A4 sized pages explaining why this appointment interests you and how you can evidence your suitability for the role, using specific examples with particular reference to the essential criteria outlined on the Sift Criteria page. If this type of statement is unfamiliar to you, please contact for more details.Incomplete applications will not be reviewed
• A Diversity Monitoring Form. You will find this as part of the application process in the link above. All applicants are invited to complete this information to assist the Civil Service with monitoring its recruitment process. All data is reported in an anonymous and aggregate format and will not be seen by anyone assessing your application.
• We are a Disability Confident Employer. This means we've been recognised as an employer which is confident and leading the way in recruiting and retaining staff with disabilities. We will offer an interview to any applicants with a disability who have indicated they wish to take part in the disability confident scheme, provided they meet the sift criteria set out for this post.

If you need any reasonable adjustments to take part in the selection process, please tell us about this in your application form. If you would like to speak to the DMO recruitment team regarding this, you can contact them via email at

Please see the Candidate Information pack for further information on the vacancy and the recruitment process.

Eligibility Statement
Individuals appointed to the DMO will be subject to National Security Vetting. The level of security needed for this role is Security Check (SC) level clearance. More information about the vetting process can be found here.

To allow for meaningful checks to be carried out applicants will normally need to have lived in the UK for at least 3 out of the past 5 years. A lack of UK residency in itself is not always a bar to security clearance but the Department will need to consider eligibility on a case-by-case basis using all information that can be obtained following a successful application.

The role is open to UK and non-UK nationals, who pass security vetting.

Employees are not permitted to hold additional employment, including non-executive directorship without prior agreement.

Feedback will only be provided if you attend an interview or assessment.

Security

Successful candidates must undergo a criminal record check.

Successful candidates must meet the security requirements before they can be appointed. The level of security needed is security check (opens in a new window).See our vetting charter (opens in a new window).

People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Successful candidates must undergo a criminal record check.

Successful candidates must meet the security requirements before they can be appointed. The level of security needed is security check (opens in a new window).See our vetting charter (opens in a new window).

People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This Job Is Broadly Open To The Following Groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements (opens in a new window)

Working for the Civil Service

The Civil Service Code (opens in a new window) sets out the standards of behaviour expected of civil servants.

We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles (opens in a new window).

The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.

The Civil Service Code (opens in a new window) sets out the standards of behaviour expected of civil servants.

We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles (opens in a new window).

The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.

Diversity and Inclusion

The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see the Civil Service People Plan (opens in a new window) and the Civil Service Diversity and Inclusion Strategy (opens in a new window).

Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.

Contact point for applicants

Job Contact :

• Name : Hays Executive Recruitment Team
• Email :
• Telephone :

Recruitment team

• Email :

Further information

If you feel at any time your application has not been treated in accordance with the values in the Civil Service Code and/or if you feel the recruitment has been conducted in such a way that conflicts with the Civil Service Commissioner's Recruitment Principles, you may make a complaint, by contacting us at in the first instance. If you are not satisfied with the response you receive you can contact the Civil Service Commissioners via , alternatively they can be contacted at the following address: G/8, 1 Horse Guards Road, London, SW1A 2HQ