Note: All applicants are required to mandatorily fill the complete online Application form including the employment, educational details, behavioural and technical/ professional skills questions. We will be thoroughly reviewing the application forms only with all the required details and the shortlisting is not basis CV/ cover letter. Forms that are incomplete in any respect will not be considered while shortlisting for the next stage.

Main purpose of job:

The UK Foreign, Commonwealth & Development Office (FCDO) is responsible for promoting British interests overseas and for supporting British citizens and businesses around the globe. The British High Commission, New Delhi, is part of the FCDO and is responsible for managing all aspects of the United Kingdom’s relationship with India.

How we approach our work is important. The How We Work Statement (below) sets out the ambition we share across the FCDO for how we lead and behave towards each other, how we make decisions, and how we get the job done. Some aspects may be particularly relevant to this role.  

• We put respect and kindness first. We are inclusive, we get to know each other, and value our diversity and the contribution we each bring. We are fair, act with integrity, and tackle inequality and unacceptable behaviour. We work together and take responsibility to solve problems.
• We draw on the expertise, insight and diverse perspectives of people across the FCDO, the UK government, and beyond. We use the best available data and evidence. We are open to challenge and take a sustainable, long-term approach. We are transparent about the rationale for decisions and smart about taking and managing risks.
• We are agile and alert to emerging opportunities. We encourage learning, innovation and use of data and digital. We are all clear on what we are expected to deliver and support each other in doing so. We look to reduce duplication and unnecessary process. We are committed to transforming both the FCDO and the way the UK government delivers international policy.

The Economics and Finance team sits at the heart of the British High Commission network in India, operating across New Delhi and regional offices, including Mumbai. The Economics & Finance team leads on the UK-India bilateral economic and financial relationship, providing direction, analysis and reporting, and engaging with key stakeholders in business, the UK government and the Government of India.

The jobholder will be an important part of this team and support UK government financial services priorities within India, working directly to the Head of Financial Services engagement based in Mumbai.

In this role you will have the opportunity to work in a fast-paced and energetic policy environment on a complex and challenging policy area at the cutting edge of the UK-India economic and financial services relationship. The jobholder is expected to be the British Deputy High Commission’s expert on the Indian financial sector and provide expertise to the climate finance team.

The jobholder will be expected to expand the established network of leading financial sector contacts within India to inform and deliver an ambitious policy agenda. They will need to build strong relationships working closely with India’s Ministry of Finance and financial regulators including the Reserve Bank of India, Securities Exchange Board of India, International Financial Services Centre Authority and the Insurance regulator.

The jobholder will support the Head of Financial services in advancing UK policy priorities through delivering key dialogues with the Indian Government including the annual Economic and Financial Dialogue between the two countries’ Finance Ministers and the Financial Markets Dialogue. The role will provide an important link to UK commercial objectives working closely with the UK Department of Business and Trade to deliver increased bilateral financial services exports and investment.

 The role will also include leading on high-quality analysis, reporting and briefing of new developments and longer-term trends which drive the policy agenda. This will be for a cross-government audience including senior officials such as the UK’s High Commissioner to India. This analysis is crucial to shaping and delivering the financial services objectives of the UK government’s work in India.

The jobholder will be the lead advisor on financial services programme work under the UK-India Economic Cooperation Programme, which is funded through a combination of Official Development Assistance (ODA) and ad-hoc non-ODA funding. The programmes cover a range of specialised themes including sustainable finance, and pensions work.

As an expert in India’s financial sector policy, the jobholder will deliver the programmes in a way that leverages UK expertise to support India in developing its financial markets. The programmes will also create opportunities for partnerships between international businesses, including those in the UK, and Indian businesses.

We reserve the right to review, revise or amend the roles and responsibilities from time to time reflecting the changing needs of business.

Roles and responsibilities / what will the jobholder be expected to achieve:

1. Financial policy:
   • Act as the UK in India network’s expert on India’s financial policy and regulation, supporting the UK’s strategic engagement with India on financial services issues.
   • Build a strong network of contacts across Indian business, commentators, government and financial regulators including the RBI, SEBI, IFSCA, IRDAI, PFRDA, and IBBI, and work with them to advance UK policy priorities in the financial sector.
   • Develop an in-depth understanding of the UK’s financial services sector and regulatory structure. Work closely with key stakeholders in the UK including UK Government departments (HM Treasury, the FCDO and the Department of Business and Trade (DBT)) and financial services firms to ensure a strong understanding of UK goals and priorities in India.
   • Drawing on this knowledge, be proactive in identifying opportunities for greater collaboration between the UK and India in financial services, in particular through the annual Economic and Financial Dialogues and official-level dialogues such as the UK-India Financial Markets Dialogue, the UK-India Sustainable Finance Forum.
   • Work with British businesses to develop a detailed understanding of market access issues in India’s financial sector. Help UK businesses navigate the Indian financial policy environment, advocating their positions to advance UK commercial interests, in close coordination with DBT colleagues on the team.
   • Lead delivery of key events during high profile bilateral visits of UK Ministers and senior officials, in particular FMD with some support to the Delhi led EFD. In the past, this has included a business roundtable with the Bank of England Governor and lunch with Finance Ministers and the India-UK Financial Partnership.
   • Lead the UK’s strategic engagement on green/sustainable finance policy with Indian authorities, including the Ministry of Finance, regulators, state governments and businesses.
2. Financial services programme:
   • Support the Head of Financial Services in shaping and delivering financial services work under the UK-India Economic Cooperation Programme, working with external implementers to deliver high quality and high impact interventions including public conferences, training programmes, research reports, expert roundtables and study missions.
   • Drive engagement and partnerships on financial services with state governments, coordinating the activities of the UK’s regional network of advisors.
   • Work closely with the Senior Programme Manager and external implementers to ensure effective co-ordination of the team’s technical assistance programmes. This would include active roles in procurement, risk management, communications, financial management and Monitoring, Reporting, Evaluation and Learning (MREL) functions.
   • Work closely with DBT colleagues to leverage the programme to create opportunities for partnerships between international businesses, including those in the UK, and Indian businesses.
   • Develop links with other bodies working on financial services technical assistance including UK trade bodies and multilateral agencies.
3. Analysis of the financial sector and monetary policy
   • Produce authoritative analysis and reporting on key developments in the Indian financial sector and monetary policy for the UK government’s India network. This will include analysis of India’s banking sector, RBI Monetary Policy Committee decisions and significant developments in financial regulation, as well as deep dives into themes such as green finance and digital payments, drawing out the implications for UK policy and business.
   • Ensure that reporting is tailored to the audience, which will include UK Ministers, senior officials, the UK’s High Commissioner to India and UK Trade Commissioner for South Asia, UK business groups, and colleagues across the India network
   • Deliver on an annual strategy for reporting on the financial sector, working with the wider economic team to determine demand and ensuring coverage of immediate developments and medium-term trends, through quarterly updates.
   • Develop a strong network of leading Indian economic and financial sector thinkers to gain expert insights and intelligence that contributes to the UK government’s understanding of India’s economy
   • Ensure that the team’s written output and presentation is sharp and takes a clear position – drawing in stakeholders who are not experts in economics
   • Conduct briefing sessions for UK businesses in India and visiting stakeholders from Government and business.

Resources managed (staff and expenditure):

Policy oversight of financial services programmes (budget TBD)

Learning and development opportunities (if any)

This role provides an excellent opportunity to build up knowledge of India’s financial sector and gain exposure to working across government.  On the programme side, you will have access to existing and new Project & Programme Management L&D.

Additional information:

Travel requirements: Domestic travel within India is expected. 

The UK in India Network ensures staff enjoy a good work life balance and it is a stimulating place to work where we value diversity and inclusion, and care about the development of our people. We embrace flexible working arrangements, and welcome candidates from all backgrounds.

Applicants must demonstrate the capabilities and competencies detailed in The FCDO Economists Technical Competency Framework available here  FCDO technical competency frameworks – GOV.UK

Essential on arrival:

• Degree level qualification in Economics, Finance or a related discipline
• Minimum 5-7 years’ experience in the financial sector or financial policy world
• Experience of working with policymakers, including the Indian government and financial regulators
• Knowledge of Green economy/finance issues
  

Language Requirements:

• Language: English
• Level of Language Required: Expert