Head of Department - Policy, PSR

About the role

About the FCA/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 (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 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. 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 help determine and communicate trends, forward views and gauge the horizon of risks in the market. 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. This will involve taking a lead during a time of significant change and innovation in the PSR/FCA and the payments arena. The role requires an individual who will be able to lead a team of both experienced colleagues and new recruits to understand and incorporate 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. In essence, we are looking for someone who can take a pragmatic approach to using the PSR/FCA's powers to protect people in the payments space through robust, creative policy development and excellent stakeholder engagement. What you will be doing (the role) 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. Reflecting the changing payments landscape the nature of the responsibilities will develop over time to reflect new issues and challenges. Leading on regulatory policy for the PSR and being open to a wide variety of approaches to improve outcomes for

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