The PSR is covering larger and more complex areas of work than ever before. Through active monitoring, supervision and enforcement, we will make sure people and businesses can continue to have confidence in the payment systems they use every single day.
Supervision: develops relationships with those we regulate to understand how they take decisions, manage risk and deliver the right outcomes for users of payments systems
Compliance Monitoring: focuses on ensuring compliance with the PSR's directions, requirements and regulations through the gathering of evidence, fieldwork and data analysis. We use this knowledge to ensure that any non-compliance is quickly resolved and to decide if formal regulatory intervention is more appropriate
Enforcement: investigates potential breaches of our directions, requirements and regulations, with the power to impose fines and publish details of identified breaches.
You will focus on driving better outcomes for people and businesses by improving compliance with the rules contained in law, PSR Directions and other legal obligations. You will do this by monitoring compliance of the UK's regulated payment systems with the PSR's rules and regulations. You will also work closely with other members of the SCM leadership team and other colleagues within the PSR's Policy Division to monitor compliance with rules and take steps to secure improved compliance (for all firms subject to our rules or directions).
To do this, you will support the Manager (Compliance Monitoring) in developing and implementing a monitoring strategy for organisations regulated by the PSR, that reflects our strategic priorities and drives an improvement in outcomes, through compliance with the PSR's new and existing rules.
You will work closely with colleagues in SCM, including the Regulatory Enforcement Team, and you will coordinate your team's work with the PSR's strategy and policy work, to define monitoring objectives and priorities that support the wider work of the PSR.
Key accountabilities:
As a Lead Associate you will play a leading role in the PSR's monitoring and will be accountable for, and regularly report on, progress internally
You will be a senior member of the team and an active role model for PSR colleagues demonstrating behaviours in line with the PSR values and capabilities
You will actively contribute to the development and implementation of the PSR's compliance monitoring strategy and framework
You may have direct line management and mentoring responsibility for junior colleagues
You will be responsible for building effective relationships with key senior stakeholders internally and externally to support the delivery of the PSR's strategic objectives
You will lead on interacting with external firms to assess the level of compliance that has been achieved and ensure that the PSR takes a risk-based approach to its compliance monitoring activities to ensure that it is efficient in its use of resource
You will take a lead role in the PSR's emerging Monitoring and Compliance work. Working with the SCM leadership team and colleagues in Policy and Strategy to set priorities for monitoring and compliance work
The skills and experience you will have
We are a signatory to the Government's Disability Confident scheme. This means that we will offer an interview to disabled candidates entering under the scheme, should they meet the minimum criteria for a role.
Minimum
Demonstrable significant experience of working in a regulator or regulated environment ideally within the payments or financial services sector
Previous line management experience with ability to direct the work of and coach colleagues, monitoring their progress against deadlines and managing operational risks
Experience of operating in a role with significant internal and external influence
Essential
A demonstrable understanding of compliance and compliance monitoring and the role it plays in promoting effective and proportionate regulation; this could include experience from credit institutions, payment institutions or from a payment systems operator
An ability to lead, oversee and contribute to the successful delivery of major projects and programmes within tight timescales; delivering work effectively through periods of change; dealing with a wide range of issues and managing competing priorities effectively
Proven experience of strong decision-making and innovative problem-solving skills, robustness in the face of challenge, and the ability to balance analytical rigour and pragmatism, while exercising excellent judgement
An ability to analyse large amounts of information, drawing out key findings and producing formal written reports including making recommendations
Excellent communication and stakeholder management skills, with the ability to influence, negotiate and collaborate effectively internally and across a wide range of external organisations
An ability to manage, motivate and develop more junior staff to meet organisational objectives through delegation, support and coaching of case team members.
Desirable
Experience of the regulatory landscape in a sector relevant to payments and payment systems
Understanding of data management principles, and how these can be used to support supervision and compliance monitoring
Knowledge of the financial services industry or another regulated industry
Our Recruitment Delivery Team are committed to offering an inclusive recruitment experience to all candidates. If you require any accommodations or adjustments as a result of disability, impairment, or health condition, please do not hesitate to let me know.