Non-Executive Director

Payments are crucial for everyone in society; supporting domestic and international trade and providing major opportunities for the UK’s world-leading fintech sector as well as existing participants across the payments ecosystem.  Last year people in the UK made around 46 billion payments worth over £109 trillion. Innovation in payments continues to progress rapidly, with many people and businesses adopting digital options as part of their payment journeys. Alongside these domestic changes, there are significant global developments. As alternative payment systems emerge across the world, with increasing levels of interoperability between them, these developments provide important opportunities, as well as challenges to which regulators must respond.

The Payment Systems Regulator (PSR) is an independent economic regulator which became fully operational in 2015 and is a firmly rooted part of the regulatory infrastructure of the UK.

The Role:

The PSR is looking to appoint a new non-executive director. This is a unique opportunity to join the board of a regulator of a sector that underpins the UK economy and affects many aspects of people's everyday lives.

The topics board members discuss and decide on are complex, varied and shape the future of payments in the UK. They range from how best to tackle payment fraud, the upgrade of the UK’s core payment systems, how to support emerging payments business models (including access to the payment systems) and the impact of cryptocurrencies and central bank digital currencies on outcomes for people and businesses. The PSR also has an important regulatory enforcement role and is a concurrent competition authority.

Responsibilities of a Non-Executive Director

• Constructively challenging and developing the strategic direction of the organisation.
• Scrutinising the performance of the organisation in meeting agreed goals and objectives and monitoring reporting.
• Holding the executive team to account for the PSR’s performance and providing appropriate challenge, leadership and mentoring.
• Ensuring that the regulatory powers and responsibilities specifically reserved to the Board by legislation are exercised appropriately.
• Have oversight of sound risk management and internal controls within the PSR.
• Ensuring the PSR complies with all relevant good governance practices and legislative requirements and acts within the provisions of its Articles.
• Developing, promoting and acting at all times in the best interests of the PSR.
• Ensuring appropriate policies and a framework of prudent and effective controls are in place which enables risks to be assessed and managed appropriately to achieve the organisation’s operations and its strategic objectives.
• Devoting time to developing and refreshing their knowledge and skills.
• Working with the executive and other board members on key issues. #

The Individual:

Successful candidates will be inclusive leaders with demonstrated experience engaging with varied stakeholder groups on complex strategic issues. They will bring:

• Knowledge of the payment requirements of business end users, and in particular merchants.
• Experience reviewing, implementing and/or developing payment solutions for a range of UK and/or international merchants (including B2C and/or B2B payments across different channels).
• Understanding of end-to-end customer journeys in a B2B and B2C environment.

The closing date for applications is: 23.55 Thursday 13^th June 2024.

For more information and to apply please visit www.odgers.com/91489