Director –PaymentSystems Directorate
The Role
The Director ofPaymentSystemsisasenior leadership roleinitially standing as Deputy Managing Director of the Payment Systems Regulatoras itconsolidatesintothe Financial Conduct Authority. Leading a directorateof c.60to 100people,comprisingseveraldepartmentsand some cross organisational matrix management, the role holder willhave asignificantinfluenceof the future of payments and financial services within the UK.
T he successful candidate will report directly to the Managing Director of the PSR and will work alongside the PSR Board and the leadership teams in both the FCA and PSR. As the PSR’s responsibilities are formally taken on by the FCA, this role will transition to be Director Payment Systems at the FCA.
Paymentsis a key area of focus for the FCA/PSR.The Payment Systems Regulator (PSR) has three core statutoryobjectives: promoting competition in payment markets, fostering innovation, and ensuring payment systemsoperatein the best interests of users (consumers & businesses) by being accessible, reliable, secure, and value-for-money. The PSR aims to make payment systems work well for everyone.
The scope of the role initially includes responsibility for policy and supervision relating to paymentsystemsandother emerging business models across the financial services industry, ensuring the PSR meets itsobjectives.TheDirectorwillberesponsible forensuring there areappropriate policystandards for the market, for the supervisory oversight of activities and for regulatory interventions to prevent harm.The Director will also play a key role in shaping and delivering the organisation’s transformation to into a forward looking and proactive regulator that is innovative,adaptiveand assertive,working closely with the Director of Payments & Digital Assetsona holistic approach.
The successful candidatewillsupport the ED/MDinleading the PSRuntil it is fullyconsolidatedinto the FCA. Thiswill includeacting as deputy Chair for the PSRExCo, attending the PSR Board,taking accountability forthepublic facing work of the PSR, itsoperational focus,driving standards and performance,leading key externalmeetings,regular speaking engagementsandleadingsomeremaining transition activities
What does this job involve?
1. Ensuring the PSR meets itsobjectivesandcommitments. Shapingand influencingthemedium to long termstrategy for thePSR/Payment SystemsDirectorateworking alongside colleagues in the Payments and Digital Assets Directorateand the FCA/PSRas awholetoensure a holistic and coordinated approach toPayment’sregulation. Youwill play a pivotal role in ensuring that the PSRand FCA, throughappropriate crossorganisation programme managementhelpdrive theNational Payments Vision workingcloselywith the Bank of England (BoE)and the Treasury.
2. Lead on specific pieces ofPSRwork including, but not limited to, market studies and interventions,supervision of Payment Systems Operators and firms more broadlyand reforming our Supervisory model.
3. Building a strong,diverseand inclusive directorate through attracting talent and developing existingcolleagues.
4. Maintaining an awareness of emerging business models and, where relevant, the underlying technology, and assessing thelikely impactupon consumers and markets.
5. Leading and executing a data led strategy to systematically assess firms and implementappropriate toolsin the delivery of agreed outcomes,
6. Working closely with internal,externaland international partners ensuringappropriate policystandards are in place and effective
7. Promoting andrepresentingthe FCA/PSRperspective both internally and externally.
8. Ensuring an operating model that delivers the desired market outcomes in the sector to an agreed budget and within deadlines, with a focus on continuous improvement and delivering at pace.
9. Maintaining constructive and effective relationships with firms,tradeand consumer and payment userbodies.
What will the candidate get from the role?
10. Joining the Senior Leadership Team at the FCA/PSRduring an exciting and challenging time ofgreat changein financial services and its regulation.
11. Leading a directorateof talented and committed people through significant projects and programmes whilst also delivering onbusiness-as-usualobjectives.
12. Establishing and growing a new Directorate focused on new,emergingand existingbusiness models, many of which have the potential topositivelydisrupt the UK financial services industryfor years to come.
13. Exposure to strategic issues and key players in the world of finance, both nationally and internationally.
Skills/Experiencerequired
We’reproud to be a Disability Confident Employer, and therefore, people or individuals with disabilities and long-term conditions who best meet theminimumcriteria for a role will go through to the next stage of the recruitment process. In cases of high applicationvolumeswe may progress applicants whose experience most closely matches the role’s key requirements. (To learn more about the Disability Confident Scheme Click Here)
Minimum
14. Exceptionalleadership and people management skills,demonstratingcommitment to diversity and inclusion and empowering leadership
15. Demonstrableoperational delivery skills, with the ability toraise standards anddrive effective operationaland businessperformance across diverse teams
16. Role model for strong leadership behaviours in line with the FCA/PSRvalues and capabilities
17. Strong strategic thinking and problem-solving ability
18. Aptitude for and experience of using data strategically to systematically assess market and/or firm outcomes
19. Ability to drive change and process efficiency/improvements, delivering value for money and innovation
20. Strong stakeholder management and communication capabilities
Essential
21. Experiencedleader with outstandingtrack recordof managing intellectually demanding teams through effective delegated authority
22. Proven capability to lead change, drive effective operational delivery.Experience/knowledge of the regulatory environment and regulatory issues associated with payments systems
23. Ability to weigh up risks and then take a justifiable decision whichdemonstratestransparent decision-making
24. Ability to develop strong understanding across the broad range of the FCA/PSR’s activities and supervision responsibilities
25. Ability to work effectively with senior stakeholders and deliver public accountability
26. Able to lead strategic planning of resources,budgetsand capability strategies to deliver an effective value for money operation aligned to strategic market outcomes
27. Understanding of new or technology-led business models withinpayment services, particularly those heavily reliant on new or emerging technologies, or a proventrack recordof being able to get up to speed with associated risks
28. Ability to influence and work effectively and collaboratively with peers
29. Ability to learn quickly about relevant regulatory issues
Desirable
30. Broad understanding of the international context in which payment systems, schemes and firmsoperate. Likely to have been gained through working in one or more of a payment systems scheme, scheme member,regulatoror consultancy
31. Appreciation of direct and indirect member firms’ business models and commercial pressures
32. An understanding of the role and practice of regulation
About the FCA/PSR
The PSR is an independent economic regulator led by Managing Director, David Geale – who is also Financial Conduct Authority (FCA) ExecutiveDirector, Payments and Digital Finance. The PSR is a subsidiary of the FCA.
In March2025 the Prime Minister announced that the PSR would be consolidated into the FCA, simplifying regulation of payments. The Government has been clear that payment systems must continue to be effectively regulated - see the Government’s consultation (which was published in September 2025) - and so the PSR is continuing to focus on delivering its important and impactful programme of work, collaborating closely with the FCA. The transition is taking place in phases, with some teams already moving to the FCA where they continue to support PSR activity. The PSR will continue tooperateas an independent subsidiary with its own Board until new legislation comes intoeffect.
The role/directorateyou are applying to joinwillmove into the FCA. Candidates should be aware, therefore, that there may be changes to their responsibilities as consolidation into the FCA progresses. All members of PSR staff are FCA employees.
At the FCA/PSR,we’recreating a fair and more resilient financial system.We’reestablishingmore transparent relationships between financial services and their customers, building trust in financialmarketsand protecting vulnerable consumers.
The work of thePSR/Payment Systems Directoratehas a significant impact on millions of consumersand businessesas well as UK and international markets. We use a range of regulatory tools to ensure firms have the interests of their clients and the integrity of the market at the heart of how they run their business. This includes setting the standards we expect firms to meet, exploring and analysing identified risks within firms in our sectors through firm specific and cross-firm work; ensuring firms behave appropriately when detriment arises. We also work closely with trade bodies and other third parties to helpdetermineand communicate trends,forwardviewsand gauge the horizon of risks in the market.
The FCA/PSR’sValues & Diversity
Our ambition is to create a diverse and inclusive workplace that reflects the society we serve, helping us to be a better regulator. We serve thepublicand our decisions directly affect thewellbeingof people,businessesand the UK economy. Soour values matter. Theyrepresentthe culture we aspire to every day, guiding our judgements, buildingtrustand helping us to be ‘At our best’.
All FCA/PSRcolleagues are expected todemonstratebehaviours in line with our five values – Deliver in the public interest, Act with integrity, Be ambitious,Workinclusively andConnectand deliver. These are embedded in all roles, and through the selection process we check for alignment to our values. For more detail on our values and core skills, please see
As an inclusive employer, we are open to considering flexible working arrangements, including job shares. Please contact our recruiter if you wish to apply for this role on a flexible basis.
Application Support
We want to remove anypossible barriersand are committed toprovidinga wide range of reasonable adjustments so that you can keep the focus on your conversations and be at your best.
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. Our aim is to make you application as easy as possible, and your recruiter will be happy to work with you to make any necessary arrangements where possible.
Benefits
Our competitive benefits scheme gives you the opportunity to create a personalised benefits package, tailored to suit your lifecycle. You can this this allowance topurchaseadditionalbenefits such as dental or cycle to work, or you have the option to top up your base salary by taking this as cash.
33. Core benefits that you will receive as standard are:
34. 30 days holiday per year plus bank holidays
35. Private healthcare with Bupa
36. A non-contributory Pension of at least 8% of basic salary each month (there are several contribution levels that increase depending on your age- up to 12% a month once you reach age 35)
37. Life assurance of eight times your basic salary
38. Income protection
Conflicts of interest
All applicants to the FCAare required todemonstratethat they do not have other interests likely to conflict with their responsibilities as an employee of the FCA. You should declare any potential conflict of interest as early as possible in the selection process,and alsodiscloseinformation or personal connections that, if appointed, might be open to misperception.
Anypotential conflicts of interestwill not prevent candidates going forward to interview but may, ifappropriate, be explored during the interview toestablishhow the candidate would address the issue(s) should they be successful in their application.
Useful information
39. The closing date for this role is23:55 on 24th February 2026
40. Selectionwill be via a two-stage interview and psychometric assessment
41. This role can be London, Edinburgh or Leeds based.
42. The salary range for the role for London£200,000to £260,000, and National £180,000to £234,000
43. If successful, you willbe requiredto obtain andretainSC Clearance.
44. We currently operate a hybrid working model, working a minimum of 40% in the office each month (50% for senior leaders). This way of working applies in our Stratford, Leeds and Edinburgh offices. From September 2026, FCA employees will be required to spend a minimum of 50% of their working time in the office. Our Executive Director and Directors will be expected to be in a minimum of 60% per month.
How to Apply
This recruitment process is being led by our search partners at Odgers.
Please submit your CV and cover letter via:
Anne Murphy
Hannah Wade