Gilt Dealer x2

Job Description

Vacancy summaryReporting to:Co-Heads of Gilt DeskSalary Range:£60,000 – £70,000Team: Dealing DeskAbout the UK Debt Management OfficeThe DMO is an Executive Agency of HM Treasury. We are responsible for debtand cash management for the UK Government, lending to local authoritiesand managing certain public sector funds.About the RoleThe core purpose of the role is, as part of the team rota, to be able to support all of the DMO’s gilt market operational activities including: the preparation and conduct of gilt issuance operations; the Desk’s ongoing market monitoring; relationship managementwith primary dealers and others; and DMO’s trading activities in gilts.About the TeamThe successful candidate will be joining a respected team of (currently) six other dealers and analysts, who are responsible for DMO’s market-facing issuance, trading and associated relationship management activities in the wholesale sterling bond and moneymarkets. The team conducts auction and syndication operations to ensure that the Government’s annual borrowing requirement is met in full, and is active in the money market on a day-to-day basis to lend/borrow any surplus/deficit funds to meet a daily end-of-daytarget balance at the Bank of England. All activities are conducted with a view to achieving DMO’s operational targets and best value for money, within pre agreed risk tolerance limits.Key Responsibilities/Accountabilities

• Participation in the conduct of gilt auctions and syndications; bid monitoring and other operational aspects of supply events.
• Operation of the DMO’s Purchase and Sale service, including risk management of the associated trading book.
• Publication of market announcements and auction results.
• Production of regular and ad hoc, desk-led research and analysis for senior management, other teams within the DMO and HM Treasury, based on data and information held by, or gleaned by, the DMO’s dealing desk.
• Production of presentations for market practitioners, overseas visitors, conferences etc.
• Written and verbal reporting on daily market developments, news and auction outcomes.
• Principal responsibility for the production, distribution and presentation of monthly turnover trading, volatility and development reports for senior management
• Building trading relationships with DMO counterparties and market platform providers or other participants on the gilt market, including booking of transactions executed, plus any margin trades and other similar activities, monitoring of cash and securitiespositions and any associated limits.
• Execution of twice-a-day rate-setting procedures, plus recording of closing prices and execution of other procedures, including the updating of yield curves
• Collation of pre- and post-auction and syndication data submitted by Primary Dealers. Maintenance of all relevant databases, ensuring accuracy, timeliness and completeness, and the ability to respond to ad hoc queries for such data and analysis as and whennecessary.
• Making DMO colleagues aware of significant market or other developments in a proactive manner.
• Developing and maintaining good working relationships with reporting contacts at counterparty firms.
• Co-ordination of, and active participation in, business continuity cover for auction operations and other activities. Maintenance of up-to-date procedures’ documentation and filing systems.
• To assist in any project work, user acceptance testing or disaster recovery planning, where relevant to these roles and responsibilities.

Sift CriteriaFor this vacancy, we will use the Civil Service Success Profiles to assess you against the following Behaviours, Experience and Technical Skills:Technical – Degree-level or beyond education in any subject, but preferably in a Finance, Economics, Business, Computing or Mathematics discipline, alongside any evidence (e.g. cover letter) of written and grammatical competence and motivation for application.Experience – Several years working in relevant financial marketsExperience – Experience and detailed knowledge of money market and fixed-income financial markets and instruments.Experience – Advanced knowledge and skills with Excel and other Microsoft Office applicationsCandidates – Please note, you will be asked to give evidence in your application of how you meet these criteria.Interview ProcessAt interview stage, we will use the Civil Service Success Profiles to assess your behaviours, strengths, technical skills, experience and ability as part of the interview.Behaviours

• Changing and Improving
• Making effective decisions
• Communicating and Influencing
• Working Together
• Managing a quality service
• Delivering at pace

StrengthsThe interview panel will ask you questions about what you enjoy doing and what you do well and often.When looking at your strengths, we want to find out whether you, the organisation and the job will be a good fit.By ensuring that the role is the right fit for you, you are more likely to enjoy it and perform well.Technical skillsThe interview panel will ask you questions about your understanding of technical and practical operation on a range of relevant areas.ExperienceThe interview panel will ask you questions about what you have previously achieved or your knowledge in a particular field. The questions will relate to the areas of work outlined in the ‘Key Responsibilities/Accountabilities’ section above.AbilityThe selection process may involve some skills, aptitude and psychometric testing for which you will be given prior notice.Interview – Information for candidatesThere will be a one stage interview process for this vacancy. As part of our assessment candidates will be offered a fireside chat with Jo Whelan, Deputy Chief Executive and Co- Head of Policy and Markets and Jessica Pulay, Co-Head of Policyand Markets.Applicants for this post will be assessed against the elements of Success Profiles listed above. Candidate guidance on Success Profiles, and how you will be assessed, is available here:https://government/publications/success-profiles

Stage 1: Applicants for this post will be assessed against the elements of the Success Profiles recruitment framework listed above.</