About the PSR
The PSR is an independent economic regulator led by Managing Director, David Geale – who is also Financial Conduct Authority (FCA) Executive Director, Payments and Digital Finance. The PSR is a subsidiary of the FCA. In March 2025 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 (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 to operate as an independent subsidiary with its own Board until new legislation comes into effect. The role/directorate you are applying to join will move 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’re creating a fair and more resilient financial system. We’re establishing more transparent relationships between financial services and their customers, building trust in financial markets and protecting vulnerable consumers. The work of the PSR/Payment Systems Directorate has a significant impact on millions of consumers and businesses as well as UK and international markets.
The team/department
The Department has undergone a period of significant change in the last few years, including the restructuring of existing departments and the establishment of new teams and capabilities. The emphasis of the role is now on ensuring effective cross‑team delivery alongside focused external engagement and stakeholder management. Playing a key role in building relationships with senior industry stakeholders, the job holder will need to represent the PSR/FCA within the industry as well as delivering on a portfolio of projects that have an external impact and a significant domestic profile. The Policy team’s role is fundamental to delivering impact in multiple key areas of our updated Strategy. This includes completing our critical work on card fees, variable recurring payments and Authorised Push Payment fraud. The role requires an individual who will be able to lead a team of both experienced colleagues and new recruits, incorporating expert legal and economic advice into policies that reflect our strategic priorities and statutory responsibilities to promote competition and innovation, while demonstrating our reputation as a leading regulatory body.
What you will be doing
The Head of Policy leads this team and is a member of the Payment Systems Regulator’s Executive Team. The role-holder will be responsible for making decisions that influence and impact the organisation and the UK’s payments systems, as part of the PSR’s Executive Team. They will also be responsible for leading the development and delivery of policy for the PSR and providing high quality advice to the PSR Executive. They will also represent the PSR at Board level and with executive levels of major banks and payment firms; the Bank of England and FCA; and will engage with Parliament (MPs and Select Committees). As a member of the Executive, the job holder will be a key contributor to the delivery of our current strategy and in developing our new strategy, as well as the PSR’s Annual Business Plan. Therefore, the job holder will not only need to lead and give direction within their department (circa 40 people) but to embrace responsibility for working with the PSR leadership team to set direction for the wider organisation. They will lead regulatory policy for the PSR, be open to a wide variety of approaches to improve outcomes for people and businesses using payments within our remit, and actively work with the Deputy Managing Director and wider PSR Executive Team to advise the Managing Director and Board members on regulatory policy matters. They will sponsor key policy initiatives and projects, work across organisational boundaries to develop a unified PSR approach, and take a confident, collaborative approach towards stakeholders and delivery partners to ensure high quality outcomes.
These initiatives include taking action to address harm, to support improvements in payment systems and to take steps to increase choice and competition. The role may also involve leading market reviews or investigations into market disputes or competition issues. Establishing strong, working relationships with our external stakeholders is a core part of this role. Working closely with the Financial Conduct Authority will be a core aspect of the role. The job holder will contribute to the PSR’s vision and strategy, implementing the recent Strategy update, and provide exceptional leadership and management of the Policy Department, developing and supporting a high performing management team and encouraging team working and collaboration across all areas of the PSR. They will be an active role model for PSR colleagues across the organisation and a visible member of the PSR Executive leadership team. They will build a strong and inclusive division that attracts and develops diverse talent.
What will you get from the role
- Joining the Senior Leadership Team (SLT) at the PSR during an exciting and challenging time in financial services and its regulation
- Leading a department of talented and committed people through significant, high profile projects while also delivering on business‑as‑usual objectives
- Exposure to strategic issues and key players in the world of finance and regulation, both nationally and internationally
Minimum criteria
- Ability to lead the development of regulatory policy in a complex and fast‑moving sector. This would likely be through significant policy‑making experience within a regulator, government body, or other public body; or working closely with such organisations from within a regulated firm, consumer body, think tank, consultancy, or trade association.
- Proven experience of team and corporate leadership and team development at a senior level.
- Excellent stakeholder management skills, with experience of building effective, mutually collaborative relationships and influencing senior stakeholders at all levels, internally and across a wide range of organisations externally.
- Ability to demonstrate responsiveness to stakeholder feedback while making effective judgments about when to stand one’s ground.
- Exceptional problem‑solving skills, excellent written and verbal communication skills.
- A proven track record in overseeing the successful delivery of complex policy within tight timescales, prioritising resources as appropriate and working at pace whilst mitigating risk.
Diversity, Equity and Inclusion (DEI) at the PSR
As a diverse, forward‑facing organisation which is continually working to drive improvements for everyone who uses payment systems, we’re looking for people who share our openness and determination. We are committed to building and sustaining a diverse and inclusive workplace. We are proud signatories of the Women in Finance Charter. We are an inclusive employer and are open to considering flexible working arrangements. In order to represent the people and organisations that we serve, we’re committed to building and sustaining a diverse and inclusive workplace, taking into account the social, environmental and financial impacts of our decisions and actions so we contribute positively to the wider community and our environment.
Conflict of Interest
All applicants to the PSR are required to demonstrate that they do not have other interests likely to conflict with their responsibilities as an employee of the PSR. You should declare any potential conflict of interest as early as possible in the selection process, and disclose information or personal connections that might be open to misperception. Any potential conflicts of interest will not prevent candidates going forward to interview but may, if appropriate, be explored during the interview to establish how the candidate would address the issue(s) if appointed in this role. For more information on conflicts please visit https://www.fca.org.uk/publication/corporate/conflict-of-interests.pdf.
Useful information
Closing date: 23:55 on Sunday 21st June 2026. Selection will be via a two‑stage interview and psychometric assessment. Salary: £140,000–£170,000 for London, £126,000–£153,000 nationally. Successful candidates will be required to obtain and retain SC Clearance. The role operates in a hybrid model, working a minimum of 40% in the office each month (50% for senior leaders). From September 2026, FCA employees will be required to spend a minimum of 50% of their working time in the office. Executive directors and directors will be expected to be in a minimum of 60% of the month. The role is based in Stratford, Leeds and Edinburgh; a minimum of 50% of time will be spent in the office for senior leaders from September 2026.
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