Reporting to: Head of Cash Dealing

Team: Dealing Desk

Closing Date: 23:55 on Monday 28 July 2025

Interviews w/c 4/08/25 and 18/08/25 (indicative)

Salary Range: £70,000-£85,000

Contract Type: Permanent

About the Role

The UK DMO is an Executive Agency of Her Majesty's Treasury. It is responsible for debt and cash management for the UK Government, lending and borrowing to local authorities and managing certain public sector funds.

We are seeking a highly motivated and detail-oriented Senior Cash dealer to join the Cash Management desk. The desk operates in the centre of financial markets where it interacts with major financial institutions to balance the daily cash flow needs of Government. The role is heavily focused in key operational areas, such as lending and borrowing in the gilt repo and sterling money markets, cash flow forecasting, the conduct of UK government bill sales, and other dealing desk areas of responsibility. These include the administration and analysis of data and reports collected and collated by the DMO for both internal and external publication. It is a busy desk with an annual turnover of around £5 trillion (2023-2024).

The successful candidate will be joining a respected team of two other dealers, who are responsible for all DMO market-facing issuance, trading and relationship management activities in the wholesale sterling bond and money markets.

Main Responsibilities include

• Devising and the implementation of dealing and position taking strategies using a wide range of financial instruments to minimise the cost of Cash Management within agreed counterparty, risk and liquidity limits.
• Assist in the establishment and building of strong bilateral dealing relationships and support and enhance the DMO’s professional image with the market.
• To represent the DMO on various market-wide liaison groups.
• To keep abreast of economic and market developments, providing commentary and/or reporting developments to DMO management and HM Treasury.
• To deputise as chair at Cash Management Committee meetings.
• To co-maintain daily and monthly cash trading spreadsheets, providing updated short- and long-term cashflow forecasts to DMO management where appropriate.
• Responsibility for the conduct of Treasury bill tenders using the Bloomberg platform and internal applications to verify and contribute results and other cash market announcements.
• To maintain and/or propose improvements to BAU procedures and effective disaster recovery planning.

Essential Skills

• Strong understanding and experience of fixed income money markets, preferably in the repo sectors, in addition to other aspects of financial markets.

• Proven interpersonal, communication and presentation skills in addition to handling sensitive information.
• Knowledge of Bloomberg and Reuters, Microsoft products, specifically Excel, Power Bi and Power point. Exposure to repo trading platforms is desirable.
• Ability to make quick, logical decisions in a time pressured environment.
• Ability to demonstrate a strong understanding of, and commitment to, operating with a public sector ethos in a market-facing role
• Degree or equivalent, in a mathematics, business or finance-related subject

Desirable Skills

• Ability to work in small teams and build informal and formal relationships in a professional setting

Sift Criteria

For this vacancy, we will use the Civil Service Success Profiles to assess you against the following Behaviours, Experience and Technical Skills:

• Experience –Previous experience working in fixed income markets, knowledge of money market, repo and financial instruments. Lead Criteria
• Technical – Advanced knowledge and application of Excel, Power BI and other Microsoft Office applications with experience of using Bloomberg.
• Behaviours- Making Effective Decisions – Ability to demonstrate decision making and accuracy at pace.
• Behaviours – Communicating and Influencing - Ability to communicate financial concepts clearly to both technical and non-technical audiences and demonstrate influencing skills.
• Technical – A degree-level or higher qualification in any subject, preferably in Finance, Economics, Computing, Mathematics or similar discipline.

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

The supporting statement and CV will be assessed.

If we receive a large number of applications, applications will be assessed against the lead criterion alone first. They will then be assessed against the other criteria if they have met the minimum score on the lead criteria

Application details

Stage 1 Application:

- CV & Supporting Statement (750 word max)

- Send all Recruitment@dmo.gov.uk in either Word or PDF formats

Stage 2 Shortlisting:

- Please note that only candidates shortlisted for interview will be informed of the progress of their application.

- Feedback will only be provided to those invited to attend an interview

Stage 3 First interview

- In person / via teams

Stage 4 Interview:

- In person/via teams

- Presentation

- Role specific Competency Test/ Exercise

Stage 5 Interview Feedback:

- Feedback on the interview and your performance provided

- If successful you will be required to gain Security Clearance before a start date can be agreed

Supporting statement and CV

It is essential when submitting your personal statement that you provide as much detail as possible, and utilise the full word count given, explaining your motivation for the role and against the essential criteria outlined above as this will be used in conjunction with your CV to assess candidate suitability to move to the next stage of the recruitment process. Incomplete applications will not be reviewed.

Interview

Applicants for this post will be assessed against the elements of the Civil Service Success Profiles.

Candidates who are successful in shortlisting will be asked to attend an initial interview.

Candidates who are successful at first interview will be invited for a second interview where they will be asked to make a presentation. The topic of the presentation will be provided prior to the interview be conducted.

Candidates will also be asked to complete a role specific competency test as part of the selection process.

Interview

At interview you will be assessed on the following behaviours

• Changing & Improving
• Making effective decisions
• Communicating & Influencing
• Delivering at pace

Please visit the following pages to find out more:

• UK DMO Careers
• Career FAQ Page

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 Recruitment@dmo.gov.uk. A reserve list may be held for up to 12 months from which further appointments may be made for the same or similar roles at a lower grade than what was advertised.

Timetable

Applications close at 23:55 on Monday 28 July 2025

Sifting Wk. 28 July 2025

First interviews wk. 4 August 2025

Second interviews wk.18 August 2025

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

Working arrangements

Hours of work/Hybrid working

Working hours will reflect the business hours of the financial market that the DMO operates in. The working hours of this post are 36 hours per week excluding lunch breaks. This post is available on a full-time basis although part time/job share/flexible working hours may be considered.

We are an operational business and delivery of our Remit is a priority. We are a London based organisation and our contracts reflect that our place of work is our London office.

We work a hybrid pattern. From 1st April 2024 our expectation is for employees to work remotely at least 60% of their time in the office and up to 40% of their time remotely. This is in line with the rest of the Civil Service and much of the private sector. We measure this over a rolling month so that individuals can plan their time, in agreement with their line manager, and in order to meet business need. These percentages may change as expectations change across the Civil Service

UKDMO is a flexible employer. We work in small teams and individuals have a say in how they do their work. Where employees have health or caring responsibilities, we are empathetic to different situations.

In agreeing how we work, UKDMO has to balance the need to meet all business objectives, including working collaboratively, with our understanding of individual circumstances.

Eligibility Statement

Individuals appointed to the DMO will be subject to National Security Vetting. 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.

Data Protection

The DMO will keep your personal details and other information relating to your application for a maximum of two years following the close of the campaign, for audit purposes only after which time it will be securely destroyed. All data is held securely and takes account of our obligations under the General Data Protection Regulation (GDPR).

Civil Service Commission

The DMO’s recruitment processes are underpinned by the recruitment principles of the Civil Service Commissioner, which outline that selection for appointment is made on merit on the basis of fair and open competition. https://civilservicecommission.independent.gov.uk/recruitment/recruitment-principles/