Lead Associate - Payment Systems Supervision in Leeds

Department: PSR - Payment Systems Market Interventions

Salary: National (Edinburgh and Leeds) ranging from £60,700 to £70,000 and London from £66,600 to £80,000 (salary offered will be based on skills and experience)

This role is graded as: Lead Associate – Regulatory

Applications must be submitted through our online portal. Applications sent via social media or email will not be accepted.

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 – who is also FCA Executive Director, Payments and Digital Finance. Operationally the PSR is currently an independent subsidiary of the Financial Conduct Authority (FCA), however in March 2025 the Prime Minister announced that the PSR would be consolidated into the FCA, a pragmatic next step in simplifying regulation of payments. This transition will likely take some time and will follow a Government consultation, although the Government has already been clear that payment systems must continue to be effectively regulated. For the time being, therefore, the PSR continues to focus on delivering its important and impactful programme of work, collaborating closely with the FCA.

The Payment Services Market Interventions Department (PSMI) you are applying to join will ultimately move into the FCA when the new legislation takes effect. Candidates should be aware, therefore, that there may be changes to their responsibilities as consolidation into the FCA progresses. The PSMI division helps maintain confidence in UK payment systems through supervision, monitoring and enforcement. The division monitors compliance, addresses emerging risks and drives better outcomes for users of payment systems. The Supervision team oversees key payment systems, including Faster Payments, LINK, Visa, Mastercard and, following legal cutover, systems such as Open Banking. Supervision plays a vital role in managing regulatory relationships, assessing market developments and ensuring regulatory interventions deliver positive outcomes.

Role responsibilities

• Acting as coordinator across the Supervision team’s casework, supporting strategic oversight, prioritisation and progression of supervisory cases
• Managing and handling complex supervisory relationships with one or more payment system operators
• Supporting the Manager of Supervision with development and delivery of the overall supervision strategy, including identification of emerging risks and areas of focus
• Championing innovation and continuous improvement in supervisory practice, including development of tools, approaches and ways of working
• Providing coaching, guidance and informal mentoring to colleagues across the team, supporting development, consistency and collaboration
• Building and maintaining a deep understanding of supervised firms, the environments they operate in and the strategic and operational risks they pose
• Supporting senior colleagues in the transition of payment systems supervision into the FCA’s supervision framework, including new ways of working, governance and engagement models
• Promoting a culture of collaboration, inclusion and learning within the Supervision team, acting as a role model for PSR values and behaviours

Skills required

Minimum:

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

Essential:

• A solid understanding of supervision and its role in delivering effective, proportionate regulation
• Demonstrable experience of managing or coordinating complex regulatory or supervisory casework, including through periods of change or organisational transition
• Ability to communicate clearly and persuasively, both verbally and in writing, on complex issues
• Clear judgement, decision making capability and professionalism when working on sensitive or high-profile issues
• Effective organisational and planning skills, with the ability to balance strategic work with delivery of day-to-day priorities
• Experience of leading casework or project-based teams in achieving 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 where employees work a minimum of 40% in the office each month (expectation of 50% for senior leaders). Changing from September to a minimum of 50% in the office each month (expectation of 60% for Directors and Executive Directors)
• A flexible benefits scheme designed around your lifestyle

For a full list of our benefits and our recruitment process as a whole visit our benefits page.