National Savings & Investments - Deputy Spending Principal

HM TREASURY; Darlington; On-site; GBP 45,000 - 55,000; Full time

Job summary

A government department in the UK seeks a candidate for a vital role in managing the financial strategies of NS&I. The successful applicant will oversee spending, engage with stakeholders, and lead on policy development. This role requires strong analytical and collaborative skills, with a focus on compliance and innovative spending solutions. Generous benefits include flexible working and a robust pension scheme.

Benefits

25 days annual leave

Flexible working patterns

Generous parental leave

Defined Benefit pension scheme

Cycle-to-work scheme

Qualifications

• Ability to evaluate differing evidence sources.
• Effective collaboration with stakeholders.
• Prioritizing and progressing varied work.

Responsibilities

• Support NS&I through spending processes.
• Oversee spending on NS&I’s Transformation Programme.
• Scrutinise in-year expenditure of NS&I’s budgets.
• Lead policy development for NS&I’s strategy.
• Advise on NS&I’s workforce and people strategy.

Skills

Stakeholder management

Policy development

Financial evaluation

Collaboration

Job description

Are you looking for a stretching and exciting role working with the sponsor and spending team of 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

As NS&I’s sponsor and spending team, DRM supports NS&I in developing the strategic, operational, and financial framework it operates under. This covers a range of areas such as supporting NS&I in developing its strategy to raise finance, advising Ministers on NS&I’s strategic framework, and ensuring NS&I is adequately funded to deliver its objectives, including delivery of its major transformation programme. Delivery of this programme makes up a significant portion of NS&I’s spending review settlement, and scrutinising programme-related spending will be a key area of focus for the post-holder. DRM is also responsible for advising Ministers on any wider policy or operational measures that impact NS&I’s performance and debt-raising role.

In this role, you will:

• Support NS&I through spending processes, such as Main and Supplementary Estimates. This will involve independently liaising with stakeholders in NS&I’s Finance team and across HM Treasury to ensure delivery is smooth and in line with government priorities.
• Oversee spending on NS&I’s Transformation Programme to ensure compliance with HM Treasury spend controls and the SR25 settlement. This includes keeping track of NS&I’s in-year financial position and advising seniors and ministers on any emerging risks, such as underspends. There will be scope to consider innovative approaches to managing any risks and increasing the effectiveness of spending controls.
• Scrutinise in-year expenditure of NS&I’s capital and resource budgets. This includes evaluating business cases and spending proposals to put forward recommendations based on a deep understanding of NS&I’s financial position. This will require close collaboration with seniors in NS&I and teams across HM Treasury to evaluate the impact of spending decisions and balance HMT and NS&I’s priorities, challenging expenditure where necessary.
• Lead policy development relating to NS&I’s short and long-term strategy. The post-holder will advise the EST on NS&I’s annual service delivery metrics to ensure they are sufficiently stretching and balance outcomes for the consumer, taxpayer and customer. The post holder will also need to work closely with NS&I’s Strategy Directorate to influence the development of NS&I’s medium and long-term strategy to ensure alignment with government and organisational priorities and advise EST on approving this strategy ahead of March 2026.
• Lead appointments to NS&I’s Board and the relationship with NS&I’s People Directorate. This involves advising EST and seniors on all matters relating to NS&I’s workforce and people strategy, such as annual pay remit increases. The post holder will also need to work closely with seniors across NS&I and HMT to lead and advise ministers on recruitment campaigns to appoint additional non-executive directors to NS&I’s board.

About You

You will be able to evaluate different and sometimes competing evidence sources to come to a conclusion and advise senior partners. Collaborate effectively with a range of stakeholders, including other organisations and prioritise and progress varied pieces of work in a timely and effective way.

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 28.97%
• 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 [e-mail].