Lead Associate - Payment Systems Supervision

Department: PSR - Payment Systems Market Interventions

Salary: National (Edinburgh and Leeds) £60,700-70,000; London £66,600-80,000 (based on skills and experience).

About the PSR and Team

Every time anyone uses a cash machine, transfers money, uses contactless, or gets paid, they use a payment system. Payment systems are always evolving and the PSR is here to make sure they work well for everyone. The PSR is an independent economic regulator led by Interim Managing Director David Geale, also FCA Executive Director of Payments and Digital Finance. The PSR is a subsidiary of the FCA, and will consolidate into the FCA by March 2025. The PSR focuses on delivering impactful work, collaborating closely with the FCA. The Payment Services Market Interventions Department (PSMI) you are applying to will ultimately move into the FCA when new legislation takes effect. Candidates should be aware that responsibilities may change during consolidation. The PSMI division maintains confidence in UK payment systems through supervision, monitoring and enforcement. It monitors compliance, addresses emerging risks and drives better outcomes for users of payment systems. The Supervision team oversees key payment systems such as Faster Payments, LINK, Visa, Mastercard and upcoming Open Banking.

Role Responsibilities

• Coordinate and prioritise the Supervision team’s casework, supporting strategic oversight and progression of supervisory cases.
• Manage complex supervisory relationships with one or more payment system operators.
• Support the Manager of Supervision with developing and delivering the overall supervision strategy, including identifying emerging risks and focus areas.
• Champion innovation and continuous improvement in supervisory practice, including developing tools, approaches and ways of working.
• Provide coaching, guidance and informal mentoring to colleagues across the team to support development, consistency and collaboration.
• Build and maintain deep understanding of supervised firms, the environments they operate in and strategic & operational risks they pose.
• Assist senior colleagues in transitioning payment system supervision into the FCA’s supervision framework, including new governance and engagement models.
• Promote a culture of collaboration, inclusion and learning within the Supervision team, acting as a role model for PSR values and behaviours.

Minimum Skills Required

• Demonstrated experience in supervision, monitoring or regulatory relationship management roles within a regulator or regulated environment.
• Experience operating with significant internal and external influence, engaging senior stakeholders.
• Ability to analyse complex information, identify key issues and produce clear, well‑reasoned written outputs, including contribution to strategic assessments.

Essential

• Solid understanding of supervision and its role in delivering effective, proportionate regulation.
• Demonstrable experience managing or coordinating complex regulatory or supervisory casework, including through change or organisational transition.
• Excellent communication skills, both verbally and in writing, on complex issues.
• Clear judgement, decision‑making capability and professionalism when handling sensitive or high‑profile issues.
• Effective organisational and planning skills, balancing strategic work with day‑to‑day priorities.
• Experience leading casework or project‑based teams to achieve good regulatory outcomes.

Benefits

• 25 days annual leave plus bank holidays.
• Non‑contributory pension (8‑12% depending on age) and life assurance at eight times your salary.
• Private healthcare with Bupa, income protection and 24/7 Employee Assistance.
• 35 hours of paid volunteering annually.
• Hybrid model: minimum 40% office each month (50% for senior leaders; 60% for Directors and Executive Directors).
• Flexible benefits scheme designed around your lifestyle.

Disability Confident

We are a Disability Confident Employer. Candidates with disabilities and long‑term conditions who meet the minimum criteria will proceed to the next stage of the recruitment process.