How payments work affects the society we live in; the challenges faced by the vulnerable; how likely we are to fall victim to fraud; and how easily we can manage our money. Payments underpin our
Behind these payments are several important payment systems. We rely on these systems to support markets, facilitate competition and drive innovation. This helps to deliver new products, find new ways to protect people from harm, and deliver services that give people and businesses more choice and control about how to pay and be paid.
We need the technology, the rules governing the use of these systems and the markets they support, to all work well. This is where the PSR plays an important role – we are the economic regulator of, and competition authority for, those systems. We protect people and businesses. We also promote and safeguard competition and innovation in these systems and the markets that they support.
Our work is high-profile and fast-moving, within a dynamic environment. You and your team will support the whole organisation to deliver our work effectively. In particular, by advising on how best to use our formal legal powers to improve outcomes for people and businesses and helping us to understand and manage the legal risks we take, including through robust and proportionate decision-making. In the last two years we have concluded a major competition enforcement case, a number of sectoral enforcement cases, and have issued a wide range of directions that place additional obligations on most payment firms in the UK (including remedies to make it easier for businesses to switch supplier and to make payments safer for customers). The legal team also provides advice on a wide range of the PSR’s policy and strategy initiatives. We have set out proposals for a step-change in the prevention of fraud and protection of victims, backed by our legal powers.
We are looking to build our legal function with wellbeing-confident thought-leaders, who will foster a constructive, collaborative and respectful culture, while delivering technical and professional excellence.
These roles will support, and work closely with our General Counsel and will be responsible for the provision of legal advice across the PSR – including the PSR Board and Executive Committees – to support the PSR with improving outcomes while managing its risks.
Including these two new roles, the Legal division will have around 19 staff, the majority of whom are experienced technical lawyers, managing the provision of legal advice which supports a wide range of projects across the organisation, and advises on all aspects of law applicable to the PSR including competition law, regulatory law and public law. The PSR’s powers include powers of direction under FSBRA 2013, concurrent competition powers, and a number of additional sectoral powers, notably originating from the Second Payment Services Directive (PSD2) and Interchange Fee Regulations (IFR). The Financial Services and Markets Bill contains a number of provisions that extend and modify our powers, and place additional obligations on us in respect of our accountability to Parliament.
The Deputies will play a vital, strategic role as part of the senior leadership of the Legal division, in collaboration with the General Counsel, fostering a positive culture, nurturing talent, effectively managing resources, harnessing knowhow and expertise, and setting direction. Reporting into the General Counsel, day to day leadership of the teams will be shared between the two Deputy General Counsel roles. As part of the senior leadership team, the Deputies will bring their experience and skills to maintain and build professional excellence, and support the PSR’s values and commitments, including wellbeing, ongoing learning and development, diversity, equity and inclusion, and respect. This role also involves representing the PSR externally, and confidently and responsibly managing a variety of stakeholder engagement.
While operating as a joined-up team, the two Deputies will have complementary and overlapping knowledge and specialisms, with each Deputy leading specific areas of responsibility. All candidates will be expected to have sound knowledge of public law and bring strong commercial acumen. We expect to hire one Deputy with significant competition experience and another with significant payments systems specialism, or significant relevant public law, legal reform or regulatory experience.
Throughout their career with the PSR, the selected Deputies will have the opportunity to broaden their skills-sets and work on a rich portfolio. We welcome candidates from a range of professional backgrounds, including private practice, regulatory, public sector, and in-house.
- Provide strategic leadership to the respective teams providing legal advice which supports a wide range of projects across the organisation and advising on all aspects of law applicable to the PSR – competition law, regulatory law, payments sector and public law. Actively supporting and advising theMD, board members and PSR employees on all legal-related matters.
- Both roles will be responsible for leading and developing the PSR’s legal teams, including by supporting the ongoing professional development of the PSR’s lawyers, ensuring that appropriate arrangements are in place for quality assurance, as well as knowledge-capture, and supporting effective collaboration and team working across the PSR.
- Being an active role model for PSR colleagues and promoting the PSR values and commitments, including wellbeing, diversity, equity and inclusion, and respect.
- Maintaining a visible PSR presence with our external stakeholders, as key ‘faces’ of the PSR. Building effective relationships with key senior stakeholders internally and externally. These may include stakeholders from payment system operators, HM Treasury, Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA), and the Competition and Markets Authority (CMA).
- Contributing to
- Qualified lawyer with significant post qualification experience.
- Sound knowledge of public law and significant experience of regulatory, competition, relevant corporate governance, and/or payments or financial services law.
- Thought leader, with experience of leading technical teams and leading them in ways that constructively support effective working with project teams and other experts across the organisation.
- Role model strong leadership and management behaviours in line with the PSR values, commitments and in support of the delivery of the PSR strategy and work programme. This includes wellbeing and diversity, equity and inclusion.
- Evidenced experience of leadership and team development at a senior level, whether through direct line/team management, project management, and/or playing a leading role as part of a multi-disciplinary team.
- Excellent stakeholder management skills with the ability to influence and gain the trust of the board, peers, wider colleagues within the internal and/or external stakeholders.
- Ability to provide robust, constructive challenge and support.
- Experience leading legal staff and teams in ways that support effective delivery and collaborate constructively across the organisation.
- High level of personal resilience and the ability to support the resilience of others.
- Proactive and innovative thinker with a track record for seeking out ways to improve, including new ways to improve effectiveness and decision making.
- Excellent problem-solving skills and a mature understanding of risk (including legal risk, reputational risk, resource risk and outcome risk), proportionality and prioritisation.
- Excellent communication skills both written and verbal.
- Knowledge of the regulatory landscape and public policy within payments industry and/or payment systems.
- Knowledge and/or experience of economic regulation and/or competition policy.
- Litigation experience.
In order to represent the people and organisations that we serve, we are committed to building and sustaining a diverse and inclusive workplace. Our commitment includes disability, ethnicity, LGBT and gender identity through to mental health and social mobility issues.
As an inclusive employer, we are open to considering flexible working arrangements. Please contact our recruiter if you wish to apply for this role on a flexible basis.
- This role is graded Senior Manager - Practicing Legal
- The role is based in London
- This role offers a competitive salary plus benefits and non-contributory pension.
- Applications for this role close on 3rd July 2023
- Want to know what it is like to work at the PSR? Check out this