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Senior Associate – Supervision

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    Senior Associate – Supervision

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      Senior Associate – Supervision

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        Senior Associate – Supervision

        Job number NT-SA-R

        Salary

        £70,000 - £75,000 per annum

        Sector

        Regulator

        Function

        Legal & Governance

        Location

        Hybrid / London

        Job Type

        Permanent

        Allen Lane are delighted to exclusively support the Payment Systems Regulator in their search for a permanent Senior Associate – Supervision.

        Purpose of role:

        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.

        The Supervision and Compliance Monitoring (SCM) Division is responsible for ensuring that the PSR’s regulatory requirements are complied with and improving outcomes for everyone that uses payments systems by challenging poor practice within firms. The SCM Division was established in June 2023 and carries out three main functions:

        • 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.

        We are recruiting for a Senior Associate to work in our Supervision team within the SCM Division. You will work closely with the Senior Manager, Supervision to implement asupervision strategy for organisations overseen by the PSR, that reflects our strategic priorities and drives an improvement in outcomes. This supervisory work would typically focus on the designated payment systems, including Faster Payments, the LINK cash machine network, Visa, Mastercard and the newly designated Fnality system.

        Supervision will be central to how we manage the relationships with those we regulate, how we monitor and evaluate the impact of our policy initiatives and how we understand how the market responds to risks and opportunities that arrive.

        This is an exciting opportunity to join at the start of the establishment of a new function within the PSR. You will be able to shape the role and to contribute to developing the new Supervision Team. The role requires considerable external engagement, playing a key role in ensuring that the PSR is a strong, confident, outwardly facing regulator, building effective relationships with senior industry stakeholders and across the wider family of regulators and public bodies.

        Key Responsibilities:                          

        • You will play an important role in the PSR’s Supervision team, working with the payment systems designated for the PSR’s oversight, including Faster Payments, the LINK cash machine network, Visa, Mastercard and the newly designated Fnality system.
        • You will be responsible for managing the active supervisory relationship with one or more payment system operators. You will need to build a strong understanding of those firms, the environments they operate in, their business strategies and how they make decisions . This understanding will be key to the PSR’s ability to achieve the best outcomes for all of us that use payment systems.
        • You will also need to build effective relationships with key senior stakeholders internally; engaging across the PSR to understand the work of other Divisions that is material to the supervision of regulated firms.
        • You will be an active role model for PSR colleagues demonstrating behaviours in line with the PSR values and capabilities.

        Knowledge & Experience:                    

        Essential:

        • A demonstrable understanding of supervision and the role it plays in promoting effective and proportionate regulation.
        • Demonstrable experience of developing and maintaining strong and effective relationships with the ability to influence, negotiate and collaborate effectively internally and across a wide range of external organisations.
        • Ability to make clear, concise, logical and persuasive oral and written presentations on complex subjects drawing out key findings and producing written reports including making recommendations.
        • Proven experience of 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.
        • A pro-active working style with the focus on achievement and identification of priority work.
        • Excellent project management and planning skills including the ability to successfully organse and prioritse work to meet expected works standards and deadlines

        Desirable:          

        • Experience of the regulatory landscape and public policy issues relating to economic regulation and competition policy, ideally in a sector relevant to payments and payment systems.
        • Knowledge of the financial services industry or another regulated industry.

         

        Contact Niraj Thakkar to discuss this fantastic opportunity.

        Alternatively, if you want to see more legal and governance positions, view our latest jobs.

        Recruiting for this role:

        Niraj Thakkar

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