Policy Manager – Regulatory Affairs, Hybrid, Permanent, London
The role holder will take responsibility for assessing, managing, and guiding regulatory policy, specific regulatory deliverables, and regulatory engagement through an extensive and holistic knowledge of Pay.UK’s strategic initiatives and business operation combined with proficient guidance and project management skills.
They will be required to create independent recommendations on regulatory policy – consistent with wider directorate and company strategy - and organise cross cutting organisational wide work to deliver high quality, insightful and compelling submissions to our regulators.
Through appropriate engagement and stakeholder consultation, they will identify and manage regulatory risks, within their projects. They will provide advice on regulation, interpreting regulatory expectations and requirements, and advocate Pay.UK’s view to our regulators. They will also work with the Regulatory Affairs leadership team to steer the direction of Pay.UK’s work to support management of regulatory risk. This will all support delivery of Pay. UK’s regulatory strategy.
They will need to develop and deliver solutions to specific regulatory policy issues and risks to Pay.UK. These issues could cover economic or macroprudential policy issues or be related to the supervision of our business or regulatory action against us.
Partnering with senior stakeholders within Pay.UK, they will ensure efficient management and communication between Pay.UK and its regulators (and alignment with other stakeholder communications). Ensuring that specific positions are supported by robust analysis and evidence based on internal senior stakeholder strategy and SME advice, and consistent with wider directorate and company strategy.
They will provide motivation, guidance, and key analytical resource to the Head of Regulatory Affairs and wider leadership team. They will be required to interact with members of the Executive, and Colleagues across the business to establish company positions and determine an appropriate approach to selling these to our regulators.
Key Accountabilities
* Provide extensive subject matter knowledge and advice across allocated projects and programmes focusing on regulator objectives, whilst providing proportionate challenge to deliver Pay.UK objectives aligned with operational capability.
* Create and provide submissions to regulators that will allow Pay.UK to present and discuss key aspects of the projects/programmes being delivered; the robust process of production, assurance and governance underpinning the project/programme; and alignment with regulatory expectations and Pay.UK’s strategic objectives.
* Identify and assess options to address Pay.UK regulatory policy risks and issues.
* Responsible for answering key regulatory policy questions or managing regulatory issues within allocated project or programmes.
* Undertake analysis and make well-reasoned and informed recommendations to the executive and Board-level committees.
* Coordinate the development of strategies to keep regulators informed of progress and developments on future products (e.g. through teach-ins, and regular reporting).
* Facilitate regulatory engagement across a range of regulatory policy issues. Advise the Head of Regulatory Affairs (and Senior Managers) on setting the agenda, tone, and content of interactions. Ensure messages are aligned across the business.
* Facilitate the engagement with regulators on regulatory policy/issues they are responsible for, ensuring Pay.UK’s outcomes are well documented and communicated.
* Horizon scan, research and analyse regulatory developments to determine any implications for Pay.UK.
* Liaise and consult with internal and external stakeholders on regulatory policy matters, ensuring that an ongoing relationship is maintained and that the received recommendations are taken forward.
* Manage the production of compelling responses to regulatory consultations and reviews, that can be shown to persuade regulators for the benefit of Pay.UK.
Skills, Experience & Qualifications
* Educated to a degree level or equally relevant experience.
* Understanding of payments industry developments both UK and internationally.
* Extensive stakeholder and relationship management experience in a regulated environment in the UK, preferably in the payments industry.
* Comprehensive experience in analysing, developing, and implementing policy initiatives, preferably in financial services or comparable regulated environment.
* Experience of directing colleagues on projects, ensuring quality and supporting development.
* Sound technical understanding in relevant regulation (e.g. economic regulation, prudential regulation) and understanding of the regulatory environment and developments related either to the financial services, the payment industry, and/or other regulated markets.
* Good presentational and communication skills (both oral and written) with the ability to get messages across clearly and concisely and convince a wide range of stakeholders.
* Problem solving and analytical skills. Seeking clarity from multiple sources of information.
* Ability to provide high quality and timely outputs to the team.
* Experience and understanding of the UK payments industry; Pay.UK’s payment systems and/or the UK payments regulatory framework would be preferable.
* Stakeholder and relationship management experience in a regulated environment in the UK, preferably in the payments industry.
* We would also welcome applicants with experience from another FMI and/or other markets subject to a similar regulatory framework (e.g. broader financial services; energy; telecoms etc).
At Pay.UK, we value diversity and inclusivity. Research has shown that candidates from underrepresented groups may hesitate to apply unless they meet all the requirements listed. 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. Become part of our team and contribute to the creation of an inclusive work environment that values everyone's unique input.
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. In 2023, the UK's retail payment systems processed 11.4 billion transactions worth £9.3 trillion through Bacs Direct Credit, Direct Debit, Faster Payments, and cheques, and our Current Account Switch Service has facilitated over 10.2 million switches since its launch in 2013.
Every day, people and businesses use the services we provide to get their salaries, pay their bills and make online and mobile banking payments. Our vision for the future is to enable a vibrant economy, with Pay.UK delivering the best-in-class payment infrastructure and standards for the benefit of consumers and businesses nationwide.
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)
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