UK Government Investments

Banking and Capital Markets

Introduction

At UK Government Investments (UKGI), we provide the government with expertise in corporate finance and governance. What we do is unique. We are responsible for ensuring the effective governance and stewardship of government owned companies (such as NatWest Group and the British Business Bank), advising the government on corporate finance issues (including interventions into distressed corporate structures, such as Thomas Cook, British Steel or UK’s acquisition of satellite firm OneWeb) and all significant UK government asset sales (for example, the sale of the Green Investment Bank, sale of UK residential mortgages (most recently through a £4.9 billion disposal in 2019), securitisation of the Student Loan book or the IPO of the Royal Mail). The work we do is significant in terms of social, economic and political impact.

Wholly owned by HM Treasury (HMT), UKGI has a team comprised of c.130 experts which is quickly growing, drawn from the private sector (from banks, accountancy and legal firms) and from the Civil Service to ensure we provide government departments with high quality advice that is delivered and acted upon in the best way possible.

The role

The work of UKGI sits at the intersection of the private and public sectors and provides an exciting environment in which to apply your expertise. The work is challenging, fast paced and crucial to the delivery of UKGI’s purpose.

The Financial Institutions Group (FIG) (where this role is based) within UKGI consist of c.8 individuals split between the public and private sector. The Group focusses primarily on the stewardship and divestment of the government’s remaining 62% holding in NatWest Group (NWG or formerly RBS) and the winding down of UK Asset Resolution (UKAR). UKAR is the holding company established on 1 October 2010 to bring together the government owned businesses of Bradford & Bingley (B&B) and legacy Northern Rock. The Group is also responsible for enhancing UKGI’s financial institutions expertise for deployment on a wider range of project and transaction work for the government.

The development of our staff is a top priority, and we aim for everyone who passes through UKGI to leave with a better position than would otherwise have been the case. All our staff have a detailed career development plan, focusing on growing their networks, undertaking formal training and on the job learning.

Further information can be found on the UKGI website: https://www.ukgi.org.uk/

Key Responsibilities

As a Banking & Capital Markets team member, you will support the senior management team within the Financial Institutions Group on strategic and analytical issues relating to NWG and UKAR. Opportunities will also exist to work on the stewardship and sale of a wider portfolio of financial assets across Government, and to support the Government across various corporate finance topics. The role will include engagement with a wide range of stakeholders across both the private and public sector.

Given that the postholder will also support on asset sales, prior experience gained either in a sellside role in an investment bank / boutique or on the buyside as an institutional or private equity investor would be beneficial, but on the job training can also be provided.

Key duties and responsibilities:

• Supporting UKGI’s Financial Institutions Group senior management team in their stewardship of the investee companies providing insight and analysis on key industry and company specific issues;

• The financial analysis of various issues relating to the portfolio companies, including valuation and monetisation strategy;

• Actively contributing to the evaluation of share sale options and participating in project management of potential future transactions;

• Constructively engaging with all internal and external stakeholders;

• Helping to lead UKGI’s ongoing interaction with institutional investors;

The postholder may also get involved in various one-off projects involving financial analysis of historic and projected performance, including interaction with the Office for Budget Responsibility (OBR), reviews of capital structures and strategic analysis (e.g. market sizing, competitor analysis, preparation of case studies etc.) and in supporting specific transactions within UKGI’s portfolio companies.

This list is not exhaustive and the post-holder will be required to carry out other tasks as and when required.

Preferred Experience

• Experience in financial analysis, corporate finance, valuation work and/or balance sheet modelling for a bank • The ability to value assets and manage and contribute to asset sales; • Ability to work independently and project manage

Essential Skills

• Understanding of financial analysis and company valuation; • Relationship management of a range of senior level stakeholders both internally and externally; • Strong written and oral communication skills and ability to convey complex information with clarity, conviction and enthusiasm to non-specialists • Ability to work collaboratively, share information and build supportive, responsive relationships with colleagues and stakeholders, whilst having the confidence to challenge assumptions as part of a team and with colleagues at all levels;

Diversity Statement

At UKGI we place a high degree of value on work life balance and as such applications from individuals seeking flexible working, reduced hours contracts and job shares are actively encouraged.

How to apply

If you would like to be challenged by genuinely fascinating work and work in an environment where work life balance is taken seriously, please apply with your CV to this advertisement by 8th January 2021