Nottingham City Council
Head of Capital Treasury
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Head of Capital and Treasury
Shape how we invest in tomorrow. Build a sustainable financial future for Nottingham.
📍 Nottingham / Hybrid
💰 Salary: SLMG 4 (£64,902 - £70,912)
🏢 Finance & Resources Directorate
Reports to: Director of Finance Operations
Closing date: 19th October 2026
PLEASE NOTE - applications must be sent here: CV and SUPPORTING STATEMENT to resourcingsupport@nottinghamcity.gov.uk
A strategic leadership opportunity at the heart of one of the country's most ambitious finance improvements.
Nottingham City Council has travelled one of the most remarkable journeys in local government. From scrutiny and challenge to becoming one of the most financially stable authorities in the country, we've proven that fundamental change is possible. We cleared the backlog, strengthened our controls, built substantial reserves, and restored public accountability.
But stability was never the finish line – it was the starting point. Now, we're building something new. Something ambitious. And we need exceptional leaders to help us do it.
This is your chance to determine the strategic direction for capital investment and treasury management at a pivotal moment. You'll shape how the council funds its ambitions, manages risk, and builds a sustainable future for 331,077 residents.
At Nottingham City Council, finance isn't just about numbers – it's about making decisions that shape services, support communities, and deliver real change. As our Head of Capital and Treasury, you'll ensure that every pound we invest delivers maximum value, now and for future generations.
About the Role
The Head of Capital and Treasury is a senior finance leadership role responsible for providing strategic leadership for the Council's capital programme, treasury management, borrowing and investment activities. The postholder will ensure that capital resources are planned, financed and managed effectively to support the Council's strategic priorities whilst maintaining financial sustainability and regulatory compliance.
Working closely with Corporate Directors, Executive Members, the Section 151 Officer and external partners, the role will lead the development of the Capital Strategy, Treasury Management Strategy and associated investment programmes, ensuring robust governance, affordability and value for money.
The postholder will act as the principal financial advisor on capital investment, infrastructure projects, regeneration schemes, asset management and treasury matters, supporting informed decision-making and long-term financial resilience.
You'll provide strategic leadership for treasury management, borrowing, investments cash management, capital financing and related corporate governance – managing relationships with external fund managers, overseeing cashflow forecasts, lending limits, and ensuring every investment decision is underpinned by robust due diligence.
Your work will shape how the council funds its ambitions. You'll be influencing the direction of capital investment across the city. And you'll build and lead a team that shares your commitment to excellence, integrity, and innovation.
The reality of the role: Nottingham has undergone one of the most dramatic debt reductions in local government. Our external debt has fallen from £932.8m in 2021 to £435.7m by March 2026 – a 53.3% reduction. The Capital Financing Requirement has reduced by 17.1%, from £1,411.0m to £1,169.2m. This has been driven by a Voluntary Debt Reduction Policy and an outright prohibition on new borrowing. The council repaid £287m of long-term loans during 2025/26.
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The council's capital programme for 2025/26 to 2029/30 stands at £746.779m, funded entirely from grants, capital receipts, revenue contributions, and reserves – with no borrowing. Your challenge will be to manage this programme within a fully funded envelope, ensuring the council continues to invest in its priorities while maintaining the discipline that has restored financial credibility.
The programme includes £129.7m for meeting the Decent Homes Standard, £150.5m from the Major Repairs Reserve, £68.5m for energy efficiency and tackling fuel poverty, and £105.5m for additional tenant priorities. The council's investment priorities are clear: security, liquidity, then yield. With a 6% hurdle rate to justify investment, the council will continue to seek external funding and to use internal resources as the first option.
Your Influence and Responsibility
Strategic direction
- You'll work with directors to develop the council's Capital and Treasury strategies – shaping how we invest in Nottingham's future.
Financial stewardship
- You'll manage the council's cash position, lending limits, and investment risk – ensuring financial sustainability.
Investment decisions
- You'll provide expert guidance on capital investment and treasury management – influencing decisions worth millions.
Leadership impact
- You'll build and lead a high-performing team, developing the next generation of public finance professionals.
What You'll Lead and Influence
- The development and management of all Capital finance policies and practices, including the Capital Strategy
- The development and leadership of the council's Treasury function – supporting capital investment and minimising net borrowing costs
- The management of the council's overall cash position and oversight of cashflow forecasts and lending limits
- Expert guidance on treasury management, corporate governance, and investment risk
- Relationships with external fund managers – monitoring investment performance
- The coordination of revenue and capital monitoring in collaboration with Strategic Business Partners
- The development and motivation of a team of finance professionals
Who We're Looking For
You're an experienced, qualified accountant who combines financial expertise with strategic vision and commercial awareness. You thrive on complexity, influence with authority, and inspire those around you to deliver excellence.
You'll bring:
- Clear capital finance, Treasury and investment management with risk management competencies
- Detailed knowledge of financial regulations and the ability to influence strategic direction across a range of services
- Proven leadership capability – you've built and developed high-performing teams
- The ability to influence strategic direction across a range of services
- CCAB qualified with evidence of continuing professional development.
You'll also bring the behaviours that make a great local government finance leader:
- A commercially astute, investment driven mindset – you understand how to effectively mitigate investment risk in the tumultuous global capital market
- A risk-aware, not risk-averse approach – you instinctively spot financial risks and control weaknesses early, but focus on managing those risks rather than shutting down progress entirely
- The ability to lead under difficult circumstances – you remain calm under pressure during high-stakes situations like external audits or scrutiny, and you have a natural instinct to mentor and coach those around you
- A pragmatic, innovative approach – you don't rely on "the way things have always been done"; you proactively look for ways to automate, simplify, and optimise reporting and system usage
- Political astuteness – you understand the friction between political aspirations and financial realities, and you have the confidence to constructively challenge when required
- A mission-driven, public service orientation – you're genuinely motivated by stewardship and the assurance that every pound of taxpayer money is maximised to best serve the community
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Why Nottingham, Why Now?
Few councils have undergone a change of this scale. Having rebuilt financial resilience and restored confidence, we're now focused on long-term excellence.
Nottingham is a city of significant contrasts. The council manages 24,073 council homes and is investing £129.7m over five years to meet the Decent Homes Standard, alongside £150.5m from the Major Repairs Reserve. The capital programme includes £68.5m for energy efficiency and tackling fuel poverty. The Head of Capital and Treasury will be central to ensuring these investments are affordable, sustainable, and deliver real value for residents.
The council's Treasury Management Strategy has been recognised for its disciplined approach. The Voluntary Debt Reduction Policy remains in place, with no new borrowing permitted for the capital programme. The council's investment priorities are clear: security, liquidity, then yield. Managing a shrinking but still significant debt portfolio – £435.7m at March 2026 – requires technical expertise, commercial acumen, and the ability to navigate complex regulatory requirements. This is a role for someone who understands that in local government, every investment decision has a service consequence.
The council is also at the forefront of Local Government Reorganisation, with £28m set aside for transition costs. The new operating models that will emerge from LGR will require significant capital investment, and the Head of Capital and Treasury will be central to ensuring the council is ready to meet those challenges.
These roles offer the opportunity to shape major strategic decisions and help design the future of public finance in Nottingham.
We offer:
- Local Government Pension Scheme – one of the most generous in the country
- Hybrid working – flexibility to balance office and home
- Flexible working arrangements
- Ongoing learning and development
- A supportive, inclusive culture
- Up to 26 days annual leave, plus bank holidays increasing with time served
- Professional subscriptions paid
- Employee wellbeing support
Our Commitment to Inclusion
We are proud to be an inclusive employer where everyone is valued and respected. We want our workforce to reflect the communities we serve.
We particularly welcome applications from:
- Black, Asian and Minority Ethnic communities
- LGBT+ communities
- Disabled people
♿ Disability Confident Employer – guaranteed interview scheme available
🎖️ Armed Forces Covenant signatory
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