The FCA has retained Odgers Berndtson to advise on this appointment. For further information about the position and additional details on qualifications, requirements, terms and conditions of service and how to apply, please contact Harriott.Brigden@odgersberndtson.com and use this link to apply, providing both a CV and a cover letter www.odgers.com/93008 .
About the FCA & PSR
The FCA is creating a fair and more resilient financial system and establishing more transparent relationships between financial services and customers; building trust in financial markets, protecting vulnerable consumers and supporting international competitiveness and growth of the UK economy.
The organisation is currently on an exciting journey as it builds on a significant transformation agenda across people, process, and technology to become a more forward-thinking, proactive regulator. The aim is to use data more effectively to drive better regulatory decisions and build greater cohesion across their broad financial services remit.
Significant improvements in digital enablement, business intelligence, market data and information management maturity are all being pursued to maintain their position as a world leader in financial services regulation.
The Payments and Digital Assets directorate focuses on reducing harm and delivering the FCA objectives in the payments and digital assets sectors. Four departments make up the directorate; two Market Intervention departments supervise payments and crypto assets firms, the Policy department develops policy to address the challenges and opportunities in the sectors and the Cross-Cutting Market Analysis and Strategy department develops sector-wide strategies and provides the analysis and data to identify risks, opportunities and trends to support supervision and policy making.
The directorate supervises over 1,250 non-bank payments providers, including payments, e-money and open banking firms. It also oversees the crypto sector for money laundering and counter-terrorist financing purposes, and for compliance with the financial promotions regime. It is focused on driving up standards in both sectors.
Background to the appointment
This is a newly created Executive Director position, fulfilling the role of Managing Director of the Payment Systems Regulator (PSR) and overseeing the wider payments portfolio across the Financial Conduct Authority (FCA).
As an Executive Committee member in both regulators and as a member of the PSR Board, the successful candidate will take on a strong leadership role at the heart of payments in the UK and internationally at a time of substantial change and growth.
The Role
What will the candidate get from the role?
* Joining the Senior Leadership Team at the FCA during an exciting and challenging time of great change in financial services and its regulation.
* Leading a division of talented and committed people through significant projects whilst also delivering on business-as-usual objectives.
* Exposure to strategic issues and key players in the world of finance, both nationally and internationally.
Key responsibilities:
* Ensure that the PSR and FCA promote and bring change to the payments and digital finance industries, injecting competition and innovation whilst protecting the needs of end users.
* Join the Executive Committee for the FCA and chair of the Executive Committee for the PSR – with collective leadership responsibility for the success of both organisations.
* Shape and lead both regulators’ roles in delivering the National Payments Vision to modernise the UK’s payment infrastructure and services.
* Oversee the wider Payment and Digital Finance portfolio. Develop policy and supervision capability across both regulators to promote innovation and competition and reduce harm in these dynamic and fast-evolving sectors.
* Line manage the PSR Executive team and FCA Director of Payments and Digital Assets. Provide executive leadership to the wider senior leadership team across around 10 departments comprising over 300 people.
* Play an ambassadorial role for both organisations; drive a culture of high performance, forward-thinking and innovation to enhance our agility and impact in the changing payments landscape.
* Build a strong and inclusive culture that attracts and develops diverse talent in support of the PSR and FCA’s diversity, equality and inclusion commitments.
* Fulfil the role of Managing Director of the PSR – reporting to the PSR Board and ensuring that the regulator meets its statutory objectives.
Skills/Experience Required
Minimum
* Significant experience of managing and influencing key stakeholders, including senior decision makers internally and externally.
* In-depth experience in the payments sector, the UK regulatory and competition framework and the operations of both the FCA and PSR.
* Proven capabilities in creating vision and shaping strategy with evidence of successful operational delivery.
* A proven leader with an outstanding track record of managing high performing multidisciplinary teams.
* Significant stakeholder management skills, ability to negotiate with and influence senior people in private and public sectors.
Essential
* Strong commitment to the aims and objectives of the FCA and PSR.
* Highly collaborative approach as part of a leadership team with an ability to motivate and carry a large organisation through a period of immense change.
* Significant regulatory or payments industry-based experience including complex strategic issues.
* Ability to influence and build credibility with national and international opinion makers.
* An understanding of the UK legislative framework and international standards.
* Excellent analytical skills, the ability to make difficult and complex judgements.
* Excellent communication skills with the ability to articulate complex decisions and concepts.
* The drive and tenacity to maintain focus and performance in the face of public criticism.
* Embody integrity, bring determination and resilience.
The FCA’s Values & Diversity
The FCA is committed to achieving greater diversity across all levels of our organisation. Given this, we particularly welcome applications from women, disabled, and minority ethnic candidates, as under-represented groups.
Application Support
If you have an accessibility requirement, disability, or condition that means you might require changes to the recruitment process, please contact your recruiter to discuss this further.
Benefits
Core benefits that you will receive as standard are:
* 30 days holiday per year plus bank holidays.
* Private healthcare with Bupa.
* A non-contributory Pension of at least 8% of basic salary each month.
* Life assurance of eight times your basic salary.
* Income protection.
Useful information
* The closing date for this role is 23:55 on Sunday 9th February.
* Selection will be via a two-stage interview and psychometric assessment.
* If successful, you will be required to obtain and retain SC Clearance.
* We operate a hybrid working policy with an expectation that senior leaders spend a minimum of 50% of their working time each month in the office.
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