View Vacancy – SRR – Financial Services Policy Adviser (HEO)

The British Embassy Riyadh has a vacancy for a Financial Services Policy Adviser on a fixed-term contract until 31 March 2025. There is a strong possibility of extension of the contract depending on performance and operational requirements.

This is an exciting time of change in Saudi Arabia, with Vision 2030 economic reforms providing unprecedented opportunities for the UK’s financial services sector. Saudi Arabia is a high priority bilateral relationship for the UK on a range of areas, including security and prosperity. We already have a strongly developing relationship on trade and investment; however, there is also growing appetite for greater policy cooperation, particularly on financial services.

Saudi Arabia is looking to become a regional hub for financial services, and the country already has one of the largest banking sectors in the Gulf, as well as a young and tech-savvy population.  Given the UK’s expertise on financial services, it is in a prime position to support Saudi Arabia with their economic and financial reforms to meet international standards, creating potential for UK firms to enter the market.

The British Embassy in Riyadh is a large and diverse team, delivering key priorities against a wide range of UK Government objectives. The environment is challenging, and the issues can be complex and fast-moving.

The jobholder will work with the Head of Economic Diplomacy and HM Treasury’s Regional Director to coordinate the UK Government’s engagement with Saudi Arabia on policy issues covering financial services. To achieve this, the jobholder will be expected to develop a good understanding of the governance structure in KSA, as well as a detailed understanding of KSA’s policy aims for the financial services sector (including capital markets, insurance, fintech, and asset management). You will also need to be familiar with the UK’s priorities in this area and interact with the UK’s regulators for financial services and industry. The knowledge that you develop will be used to work with the Regional Director to identify areas where closer government-to-government collaboration would be beneficial.

You will also act as the Secretariat for the broader UK engagement with the Vision 2030 reforms in Saudi Arabia and will work closely with other Embassy officers and the Department for Business and Trade (DBT). You will need to be comfortable with both policy issues with project management, as well as able to bring a strategic approach.

This is a visible role across the Embassy and with a wide range of UK Government partners. You will have the opportunity to gain political analysis and project delivery experience, as well as develop economic and wider prosperity skills, influencing and public diplomacy capabilities.

About the team:

FCDO: The Foreign, Commonwealth and Development Office (FCDO) is the UK government department responsible for protecting and promoting British interests around the world. It works closely with HM Treasury and the Department of Business and Trade (DBT) in building the UK’s prosperity by increasing exports and investment, opening markets, ensuring access to resources, and promoting sustainable global growth.

His Majesty’s Treasury: HM Treasury leads the development of HM Government’s policy on financial services. HM Treasury has seconded a Regional Director for Financial Services (FS) to the Gulf who leads on overall policy strategy and engagement with governments and firms across the region. This role will work closely with HMT’s Regional Director.

Prosperity Team, British Embassy Riyadh: The Prosperity team sits at the heart of the British network in Riyadh. The team leads on developing the UK-Saudi bilateral economic relationship, providing analysis and reporting, and engaging with key stakeholders in Riyadh. The team also works closely with DBT colleagues at Post in pursuit of regional economic and financial priorities for the UK through engagement with businesses and governments. The jobholder will formally sit within the Prosperity Team.

Duties and responsibilities

– Political/ Analytical

• Deliver in-country prosperity components of the UK Government’s Gulf Strategy, specifically those related to financial services policy.
• Act as a docking and coordination point between various UK institutions focused on financial services (including the Bank of England, HM Treasury, DBT, Financial Conduct Authority, and the City of London Corporation) and the British Embassy in Riyadh.
• Working closely with the Regional Director of Financial Services and the Head of Economic Diplomacy, ensure UK activities on financial services are joined up across the Saudi network and key institutions.
• Conduct political engagement related to financial services and support DBT’s commercial events.
• Engage, analyse, and regularly report on developments in financial services policy, with a view to identifying risks and opportunities for the UK.
• Coordinate UK Government Ministerial and senior official visits to Saudi Arabia on financial services.
• Lead on translating the Saudi Vision 2030 programme, National Transformation Plan, and other relevant programmes into UK policy engagement.
• Keep abreast of developments in the UK financial services space.
• Develop and feed into HM Ambassador’s external communications on financial services.
• Provide a secretariat function on the wider UK-Saudi financial services dialogue and workplan

– Projects

• Bid for and manage bilateral Prosperity-related projects under specified HM Government funds.
• Support collaboration between UK and Saudi financial services entities to facilitate capacity building between the two countries, focusing on Vision 2030 opportunities.
• Support engagement of the UK financial services sector, working closely across UK Government departments in London and DBT in Saudi Arabia to facilitate trade visits and secure commercial opportunities.

– Communications

• Inform and steer financial services policy communications widely at post.
• Convey UK policy positions to Saudi entities during meetings, high-level visits, and events.
• Report to Whitehall departments and a range of London financial services entities on Vision 2030 activity.

The above list is not exhaustive, and the jobholder will be required to be flexible as specific responsibilities could change in the future, and this would be at the discretion of the line manager and Senior Management. The job description may be reviewed to meet changes in business needs. The jobholder may also take on other ad hoc tasks as and when required, including participating in the Embassy’s emergency planning and any response to a crisis.

Key behaviours required:

• Communicating and Influencing – Communicate purpose and direction with clarity, integrity, and enthusiasm. Respect the needs, responses, and opinions of others.
• Delivering at Pace – Take responsibility for delivering timely and quality results with focus and drive
• Making Effective Decisions – Use evidence and knowledge to support accurate, expert decisions and advice. Carefully consider alternative options, implications, and risks of decisions.
• Working Together – Form effective partnerships and relationships with people both internally and externally, from a range of diverse backgrounds, sharing information, resources, and support.

Eligibility:

• The successful candidate must be able to secure a local residence and work permit in Saudi (iqama) OR already have the right to work and reside in Saudi.
• The British Embassy provides visa sponsorship. The successful candidate will be required to transfer their visa under the Embassy’s sponsorship.

• Previous experience in the financial services sector (or something closely related), ideally in the UK or KSA.
• Understanding of government policy-making and international collaboration on economic issues.
• Awareness of KSA’s Vision 2030 objectives and how the financial services sector plays an integral role.
• High standard of project and programme management skills and track record of successful project delivery.
• Excellent relationship development and management skills, capable of operating at all organisational levels.
• Experience of developing relationships and building influence with multiple stakeholders in public and private sectors. Recognises the importance of developing a strong business network.
• Cultural awareness and business knowledge of the relevant market. Functional knowledge of local business community and trends.
• Excellent communication skills in English, both verbal and spoken. Able to express ideas and messages confidently, clearly, and concisely, both orally and in written communication.
• Ability to coordinate and contribute to strategy development and business planning.
• Flexible, resilient, decisive, and calm under pressure. With a proven track record of delivering results to a high standard within tight deadlines.
• Excellent organisational ability, with proven ability to manage, plan, and prioritise tasks and workload; and a proactive approach to problem solving.
• Team player who is capable of working on their own initiative as well as managing others.
• Strong IT skills and literacy in Microsoft Office applications (Word, Excel, PowerPoint, Outlook, Teams).