Product Manager - CHAPS Payments

Our vision is a world where all businesses are powered by embedded payments. Modulr enables businesses, from SMEs to Enterprise, to grow their revenue, drive efficiencies and deliver fantastic customer experiences, by embedding payments into their products and operating systems. We do this by providing products and services which allow our clients to efficiently collect, reconcile and disburse funds instantly via a range of payment schemes, accounts, and card products, fully controllable via API.

Deep knowledge of UK payment schemes with a particular expertise in CHAPS. Strong understanding of regulatory compliance, and the technical and operational processes behind payment initiation, processing, and settlement.

• Own the end-to-end product lifecycle for UK high value payments – from strategy and roadmap creation to delivery and continuous improvement.
• Define product requirements and user stories, balancing business needs, regulatory obligations, and technical feasibility.
• Drive innovation in payment processing, safeguarding, reconciliation, and customer experience.
• Develop an understanding of the value proposition of the products you manage, their positioning in each of our target markets and how they solve our customers’ problems.
• Work closely with technology teams to ensure successful delivery of new payment capabilities and enhancements and launch to market with wider product/marketing team.
• Be a subject matter expert on RTGS schemes such as CHAPS, working with internal and external stakeholders including engineering, compliance, risk, finance, and third-party vendors.
• Manage product performance via KPIs, risk metrics, performance/transaction volumes and service quality to identify areas for proposition development, focus and mitigation.
• Understand governance, regulation, rules and upcoming changes, represent Modulr at industry forums and work with wider stakeholders to ensure change is effectively managed and de-risked.
• Define and support operational readiness, documentation, and incident resolution related to payment services.
• Develop and oversee controls to ensure risks are mitigated adequately.

Required Skills & Experience:

• 3–5+ years’ experience in Product Management within financial services or fintech, ideally in relation to CHAPS scheme with a Direct Participant of the scheme.
• Deep understanding of UK payment schemes, particularly the CHAPS operational models, Bank of England governance and compliance frameworks.
• Proven experience managing relationships including suppliers, scheme, sponsoring banks, and payment service providers.
• Strong analytical and problem-solving skills; able to use data to inform decisions and measure success.
• Excellent stakeholder management and communication skills across technical and non-technical audiences.
• Experience working in agile environments with multidisciplinary teams (engineering, operations, compliance).
• Familiarity with ISO20022 messaging formats and flow, familiarity with API-based payment integration is a plus.
• Understanding of Open Banking and emerging UK payment initiatives advantageous.
• A curious mindset and drive to explore how AI can make a real difference.

What We Offer You:

• Share Options– We offer a Company Share Option Plan (CSOP), giving you the opportunity to benefit from any increase in share value in the event of a sale, merger, or flotation.
• Bonus– Our annual discretionary bonus, paid in May for the previous year, is based on both company and individual performance.
• Flexible benefits – £1000 to spend on benefits to suit you, including private medical insurance, gym membership, dental etc.
• Wellbeing app– confidential, on-demand access to therapy, coaching, counselling, management training or mindfulness sessions with accredited professionals, with company-funded hours and top-up options available.
• Holidays– 33 days annual leave (including bank holidays) plus your birthday off.
• Learning opportunities– Our two-day onboarding program, ModStart, helps equip you for success. Learning doesn’t stop there; we’ll continue to support your development through various channels.
• Company-Wide Events– Participate in collaborative and engaging events with colleagues across the business.
• Bike to work / E-bike scheme.

At Modulr, we’re committed to building a diverse, equitable and inclusive culture where everyone feels they belong and can bring their whole self to work. We welcome applications from candidates of all backgrounds as we believe it’s the right thing for our people, our business, and the community we operate in.