Head of Economic Crime Reform & Funding

Do you want to advise ministers on promoting and protecting the UK’s economy and its competitiveness internationally in a fast-changing environment? If so, read on!

International Group provides opportunities to work on areas including spending control on international development, trade policy, climate change, health, cooperation on Ukraine, economic security, financial sanctions, and tackling illicit finance. We also manage economic relationships with Europe, US, China, and other advanced economies and emerging markets.

We build relationships with external and international partners and represent the UK in a range of international groupings and institutions, including the G7, the G20, the International Monetary Fund, and at some of the Multilateral Development Banks. We also analyze international comparisons and the wider global economic context, including for fiscal events. Although international travel is an important part of some roles, it is not required for every role in the group and will be specified if required.

Economic Crime and Sanctions Group

The Economic Crime and Sanctions (ECAS) Group is part of the International family of groups in HMT. ECAS brings together HMT’s interests in promoting the UK’s prosperity, competitiveness, and economic security by combatting economic crime through effective but proportionate policy, regulation, and enforcement.

ECAS includes two teams: the Sanctions and Illicit Finance Team (SIF), and the Office of Financial Sanctions Implementation (OFSI). SIF leads policy to tackle economic crime and illicit finance, protecting growth and the financial system, including designing financial sanctions to counter threats to the UK. OFSI implements financial sanctions and works to ensure they are properly understood, implemented, and enforced in the UK.

About the Team - Sanctions and Illicit Finance

The Sanctions and Illicit Finance team (SIF) is a friendly, busy, outward-facing team of approximately 30 people. We develop policies and legislation to address economic crime and illicit finance in the UK and overseas, to help protect the stability of the global financial system.

The team is made up of 5 branches:

1. Economic Crime Strategy Unit (ECSU), one of the team’s domestic-focused branches, which works with the Home Office, DBT, law enforcement, and the private sector to deliver economic crime strategy.
2. Anti-Money Laundering Unit (AMLU), which owns the Money Laundering Regulations and the supervisory system that oversees compliance with them.
3. Sanctions and Counter Terrorist Financing branch, which works with the Foreign, Commonwealth and Development Office (FCDO), the Office of Financial Sanctions Implementation (OFSI), and others to craft financial sanction regimes.
4. Financial Action Task Force (FATF) and International branch. This branch leads our strategy towards UK preparations for, and input into, meetings of the Financial Action Task Force (FATF) and leads work on tackling international illicit finance.
5. Technical Assistance Unit, which works with developing countries to assist their compliance with international standards on countering illicit finance.

The branches of the SIF team work closely together, and you will be encouraged to work flexibly with other branches in response to particular pressures. SIF encourages flexible working arrangements. We put a high importance on wellbeing and a good work-life balance, with regular team social activities. We are committed to being an open and inclusive team; please speak to the hiring manager about our approach to fairness and diversity in recruitment.

About the Job

This is an exciting domestic-facing role, focused on ensuring the government, law enforcement agencies, and private sector deliver critical economic crime reforms ahead of the UK’s next assessment by the Financial Action Task Force (FATF); and that our economic crime reform agenda is proportionately and sustainably funded in the years ahead.

First, the context. Economic crime and illicit financial flows from money laundering, terrorist financing, and proliferation financing (the funding of nuclear, chemical, or biological weapons) pose a significant risk to the UK. These threats harm UK citizens, economic security and growth, the integrity of the financial system, and our reputation as a great place to invest and do business.

The public and private sector work closely together to tackle these threats. HM Treasury and Home Office are responsible for developing and driving ambitious reforms to the UK’s system to cut economic crime, protect national security, and support the UK’s legitimate economic growth and competitiveness. These reforms are underpinned by various funding commitments, including a new economic crime (anti-money laundering) levy.

Who are we looking for? You must have strong collaboration skills and an ability to work collegiately across multiple departments, industry groups, and governance structures to develop and deliver policy in an environment where you do not always hold all of the hard levers to drive progress. You will need to be able to identify key priorities and risks across different strands of work and think strategically about your department’s objectives and the best way to achieve them.

Previous knowledge of government spending processes or tax policy development would be very useful, as the ability to navigate HMT processes and make effective judgments on funding and value for money will be key. Experience of anti-money laundering or economic crime is not essential, provided you are comfortable picking up new technical areas; you would also be supported with training and development opportunities to get to grips with the subject matter.

Key accountabilities for this role include:

1. Working collaboratively with Home Office, law enforcement, Department for Business & Trade, and the private sector to drive and deliver economic crime reforms. This includes taking a strategic approach to prioritizing key reforms and advising Ministers on where they could go further; and leveraging relationships, public and private governance structures, seniors, and Ministers to support delivery.
2. Leading on implementation and evaluation of an innovative new economic crime levy. This will include managing a novel levy collection model across three different organizations (HMRC, Gambling Commission, and Financial Conduct Authority); monitoring receipts to ensure sufficient funding for economic crime reform; ongoing evaluation of levy-funded projects and spending bids to deliver value for money; and leading policy development for any future levy amendments, including preparing for the planned review of the levy in 2027.
3. Ensuring economic crime reform is appropriately funded beyond the levy, including through the next Spending Review. This will include working with Home Office and other departments, HMT spending leads, and the wider SIF team to develop the funding strategy for economic crime reform in the next Spending Review period, as well as looking at more innovative funding sources from suspended criminal funds, fees, and the Asset Recovery Investment Scheme (ARIS).
4. Helping prepare for the UK’s next FATF assessment, including tracking law enforcement outcomes and the impact of the UK’s economic crime reforms. This includes developing an understanding of law enforcement strategies to counter economic crime and the ways to measure their effectiveness, and of international FATF standards. This will be critical to preparing for FATF’s next assessment of the UK’s ability to prevent criminal abuse of the financial system.
5. Line management of at least 1 HEO, and potential matrix management responsibilities for 1-2 HEO/SEOs. The postholder may need to take a flexible approach to matrix management, depending on HEO and SEO resource demands across the branch/wider team if new pressures emerge.
6. Acting as a role model in a diverse and inclusive team, including by taking an active role in contributing to corporate activities at branch, team, group, or HMT level.

Candidate Drop-In Session – Microsoft Teams
The hiring manager will be running a candidate drop-in session for this role to give you greater insight about the role as well as the chance to learn more about HM Treasury and ask any questions you may have. If you would like to join us, then use the link below to join the call at the right time.

If you would like to speak to the hiring manager informally prior to the closing date for applications to find out more about the job, please contact Sarah Schofield (***************@hmtreasury.gov.uk).

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