Cash Dealer

UK Debt Management Office
London, United Kingdom
£50k - £55k
28 Jun 2022
28 Jul 2022
Job Function
Foreign Currency
Industry Sector
Finance - General
Employment Type
Full Time
About the Team

The successful candidate will be joining a respected team of (currently) eight other dealers and analysts, who are responsible for all DMO market-facing issuance, trading and relationship management activities in the wholesale sterling bond and money markets. The team runs all auction and syndication operations to ensure that the Government's annual borrowing requirement is met in full, and, on a day-to-day basis to lend/borrow any surplus/deficit funds to meet a daily end-of-day target balance at the Bank of England. All activities are conducted with a view to achieving best value for money, within pre-agreed risk tolerance limits. The successful candidate will be fully assisted and trained by supportive colleagues in the core and more unique aspects of the role.


To assist in the execution of money-market dealing and position-taking strategies, utilising a wide range of financial instruments, in order to minimise the costs of CM within agreed counterparty, risk and liquidity limits. To become familiar with all aspects of deal input and the various outputs from the DMO's trading system and all other tools and systems employed.

To assist in the establishment and maintenance of productive bilateral dealing relationships with market counterparties and brokers, and to support and enhance the DMO's professional image with the market.

A shared responsibility for the execution, allocation and announcement of weekly sales by auction of UK Treasury Bills, and other related primary and secondary market activities.

To keep abreast of economic and market developments, providing commentary and/or reporting to DMO management and HM Treasury as required.

To act as support in managing daily and monthly cash flow spreadsheets, including in-house applications, providing updated short- and long-term cash flow forecasts to other cash dealers, liaising closely with the EFA team at HMT and dealers at the Bank of England.

To prepare for and deliver the weekly presentation to Cash Management Committee on a rota basis.

To cover other dealers' responsibilities at times of absence, in order to ensure the continued smooth running of all operations and strategies.

To maintain, and propose improvements to, effective business continuity processes. Testing of any new processes and procedures to enable a seamless transition, where necessary.

Sift Criteria

In selecting interview candidates for this vacancy, we will use the Civil Service Sucess Profiles to assess you against the following:

Technical - Degree level education or equivalent.

Experience - Previous experience working in a relevant financial market and knowledge of money market and fixed-income financial markets and instruments.

Experience - Advanced knowledge and skills with Excel and other Microsoft Office applications.

Experience - of Bloomberg and/or Reuters systems and applications.

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

Interview Process

At 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.


Seeing the big picture

Changing and Improving

Making effective decisions

Communicating and Influencing

Working Together

Developing self and others

Delivering at Pace

Interview - Information for candidates

Depending on the number of applications received from suitable candidates, there may be a two stage interview process for this vacancy.

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.

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

Stage 2: Candidates will be asked to undertake a test/presentation/ psychometric test and will be assessed against the elements of the Success Profiles listed above.

Application deadline: 23:55 on 18/07/2022
Shortlisting: Week commencing 25/07/2022
Interviews: Week commencing 01/08/2022

These dates are indicative and may change

Application details

To apply, please send a CV and covering letter to

The candidates who are assessed, from the information provided as best meeting the requirements of the role will be invited to interview. 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.

As part of our pre-employment security checks, if you are invited to interview, you will need to bring:

Proof of identity, e.g. your passport or driver's license. Documents must be in date and valid.
Proof of your National Insurance (NI) number, e.g. letter from DWP confirming your NI number, or P60

If you do not bring a UK or EU passport, you will need to bring other documentation of your right to work in the UK, e.g. your visa, biometric residence permit or birth certificate.

Further details regarding acceptable documents will be provided in the invitation to interview.

For more information on the DMO visit:

Working arrangements


The post will be based at in the DMO's office in the City of London.

Hours of work

The working hours of this post are 36 hours per week excluding lunch breaks. It is likely to include early starts (c7:00am) and/or late finishes (c6.00pm) on a rotational basis.
This post is available on a full-time basis although part time/job share/flexible working hours may be considered.


Annual Leave - You will have an annual leave allowance of 27.5 days (pro-rata/ length of contract/dependent on start date) plus paid bank holidays.
Civil Service Pension
Subsidised gym membership
Interest free season ticket loan
Family friendly HR policies including paid maternity, paternity and adoption leave
A working culture which encourages inclusion and diversity

Investors in People

As an Investor in People, the DMO values skills and expertise and is committed to training and development. It is a rewarding place to work, respecting people, with an open management culture and a common sense of purpose.

Professional Qualifications, Training & Development

The DMO provides financial support to employees undertaking professional qualifications, skills training and development that are relevant to the role. The DMO will also pay individual subscriptions to professional bodies.

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.


DMO has a strong commitment to equality and diversity. Our aim is to be a department which is open and accessible, recruiting and retaining a diverse, talented and high-performing people who support and develop one another.

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

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 Code

The Civil Service Code sets out the standards of behaviour expected of civil servants. The Civil Service Commission has two important roles in relation to the Civil Service Code. The Commission hears complaints under the Code from civil servants. The Commission also works with Departments to help them with their promotion of the Code.

The Civil Service Code outlines the core values of the Civil Service:


It describes the standards of behaviour expected of individual civil servants against each of these four values.

Complaints Procedure

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.

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

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.

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