Senior Compliance & Policy Manager London

This role in the 2nd Line of Defence at Pay.UK reports directly into the Head of Third-Party Risk & Compliance and has one direct report. The role holder works closely with business policy owners, regulatory and legal SMEs, and colleagues in the CRO directorate to develop and implement effective, industry best practice Compliance and Policy Frameworks at Pay.UK. The role holder is also responsible for delivering the annual Compliance Assurance programme to provide company insight on the strength of our compliance with the regulation and legislation that applies to Pay.UK, through thematic reviews and validation of the design and operating effectiveness of enterprise-wide compliance controls.

Key Accountabilities

• Develop and ensure implementation of the Pay.UK Compliance and Policy Frameworks, processes, and procedures to enable high standards of compliance across the enterprise.
• Proactively work with the Legal, Risk, Security & Technology, Operational Resilience, Strategic Change Risk and Data Protection teams to understand the key compliance risks impacting Pay.UK, identify any new or emerging risk areas within the policy suite, and advise on the application of suitable mitigating controls.
• Communicate, enterprise-wide, changes to policies that define the requirements and control environments in which Pay.UK should operate.
• Plan and deliver a risk-based annual programme of compliance assurance to monitor the effectiveness of Pay.UK compliance and policy controls.
• Present findings and recommendations for improvements to the CRO and relevant executive committees.
• Support 1st line control owners in setting compliance control thresholds and developing monitoring activities.
• Ensure business adherence to the Policy Framework requirements through quality assurance, so that policies are developed to a high standard, are implemented with relevant governance approval, and are refreshed appropriately to remain a fit for purpose compliance control for Pay.UK.
• Support the Head of Third-Party Risk & Compliance with Third Party Risk Management (TPRM) policy compliance monitoring and assurance; and act as the compliance risk domain owner in the company’s TPRM process, performing second line Compliance oversight of Pay.UK supplier assurance.
• Support development of the compliance strategy, identification of priorities, and creation of and reporting on compliance and policy plans.
• Work closely with the Risk team on the CRO Directorate RCSA and to perform oversight of 1st line root cause and impact analysis of compliance risk events and issue management.
• Develop risk-based criteria for mandatory compliance training and policy attestation for all colleagues, including contractors.
• Develop/ support development of mandatory compliance training material.
• Track and report on training and policy attestation completion rates.
• Provide compliance and policy subject matter expertise, oversight, advice and guidance in BAU and to Pay.UK Change initiatives, including to senior management, ExCo and Board as necessary.
• Build and maintain a positive perception of the Compliance team within Pay.UK and raise colleague awareness and understanding of their role in ensuring continued compliance for the enterprise.

Key Skills, Qualifications & Experience

• A degree in a relevant subject or an equivalent professional qualification and experience of working within financial services or Fintech.
• Experience in Compliance Management Programmes including compliance monitoring and assurance regimes, particularly in financial services.
• Proficiency in risk management, development of policy frameworks, implementation of associated controls, along with the ability to adapt, construct, and maintain industry-standard good practice policies.
• General awareness and working knowledge of regulation and laws relating to the payments industry.
• Ability to interface with senior stakeholders effectively to establish relationships and become a trusted advisor.
• Ability to produce Board and Executive level compliance reports.
• Independently minded, critical thinker able to challenge constructively and professionally.
• Proven experience in structuring personal work tasks effectively amid high-pressure situations.

At Pay.UK, we value diversity and inclusivity. We encourage all qualified candidates to apply, regardless of how closely their skills and experience match the requirements. We are committed to supporting accessibility needs and creating a welcoming environment for all employees.

About Us

Pay.UK maintains and develops the UK retail payment systems and standards that are core to the economy being able to function on a day-to-day basis. From Bacs to Faster Payments and cheques – we act as the single operator for all UK retail payments. We put the needs of consumers and businesses at the heart of everything we do, working in the public interest to ensure that the systems the country relies on for its banking transactions are safe, open, innovative and resilient. Our payment systems underpin the services that enable funds to be transferred between people and institutions.

Benefits & Additional Information

• 12% Non-contributory pension
• Discretionary annual bonus
• 30 days annual leave (excluding bank holidays)
• Employee assistance programme
• Cycle to Work Scheme
• Season ticket loan
• Annual fitness subsidy of up to £500 per annum
• Working from home policy - minimum 40% in the office (eg. 2 days in the office over a 5 day working week)