Controls Manager

Controls Manager, Hybrid, Permanent, London

 

The Rules team own the Rules documentation which is a key part of the customer facing documentation framework that underpins the payment systems and services that Pay.UK operate.

The role holder will deliver documentation assigned to them to time, cost, priority, and quality as directed by the Senior Manager and Head of Payment Ecosystem Rules.

Provide analysis of best practice, industry standards, control frameworks, and other information repositories in order to create best in class Rules documentation.

This role holder will be providing content knowledge, collaboration, and management support to enable the identified documentation to be designed, ensuring that controls are articulated in accordance with Pay.UK’s obligations as Payment Systems Operator, mitigate the risk and have traceability across the document framework.

The role holder will work on projects and collaborate within the team and with a range of internal and external stakeholders.

 

Key Accountabilities

• Authoring the Rules documentation – This will involve working with Legal (including external Legal Counsel), Product Development, Security, Operational colleagues, and all other relevant stakeholders using their experience of working in/with a Financial Market Infrastructure. 
• Ensuring adherence to relevant PFMI Principles and General Direction 2 & 4.
• Responding to feedback from Regulators and customers.
• Ensuring traceability between rules and systemic / service risks.
• Ensuring traceability across the different layers in the payment system / service documentation framework.
• Authoring a Regulatory Non-Object for the Rules if required.
• Ensuring that documentation satisfies the required governance.

  

Skills, Experience & Qualifications

• Experience working in / with a Financial Markets Infrastructure under a systemic risk framework.
• Experience managing risks and operating controls in / with a Financial Markets Infrastructure.
• Experience of working within a governance framework, meeting audit and traceability requirements.
• Experience in at least one of the following: designing, writing, implementing and/or managing payments systems rules and other controls (not all are applicable) within a documentation framework.
• Experience of working with or developing documents for industry consumption.
• Experience in working with a range of internal and external stakeholders of differing regulatory, technical, product, commercial and legal backgrounds.
• Experience in the complexity and opportunities of transformational change.
• An understanding of the UK payments industry with Faster Payments / Bacs / ICS knowledge highly desirable.
• Experience working with or drafting legal contracts within the UK payments industry is desirable.
• Understanding of and operation within a systemic risk management framework; and application of Risk and Control Management practices generally (including risk identification and escalation where required).
• Problem solving and the ability to consider different perspectives. Seeking clarity from multiple sources and being able to understand and simplify complex scenarios.
• Sound interpersonal skills to interact effectively across stakeholder groups and generate understanding of deeply technical concepts.
• Effective communication skills with an ability to influence stakeholders at all levels of seniority, including regulators.
• Exemplary document production, grammatical and MS Office application skills.
• Be able to work in detail but identify, and communicate, the key information at a high level.
• Be proactive and capable of working individually, as well as collaboratively within a team.
• Experience in one of the following is desired: payments controls management, payments risk management, payments law, business analysis/functional design experience within payments, payments service management and/or payments product

At Pay.UK, we value diversity and inclusivity. Research has shown that candidates from underrepresented groups may hesitate to apply unless they meet all the requirements listed. We encourage all qualified candidates to apply, regardless of how closely their skills and experience match the requirements. We are committed to supporting accessibility needs and creating a welcoming environment for all employees. Become part of our team and contribute to the creation of an inclusive work environment that values everyone's unique input.

 

About Us

Pay.UK maintains and develops the UK retail payment systems and standards that are core to the economy being able to function on a day-to-day basis.

From Bacs to Faster Payments and cheques – we act as the single operator for all UK retail payments. We put the needs of consumers and businesses at the heart of everything we do, working in the public interest to ensure that the systems the country relies on for its banking transactions are safe, open, innovative and resilient.

Our payment systems underpin the services that enable funds to be transferred between people and institutions. In 2023, the UK's retail payment systems processed 11.4 billion transactions worth £9.3 trillion through Bacs Direct Credit, Direct Debit, Faster Payments, and cheques, and our Current Account Switch Service has facilitated over 10.2 million switches since its launch in 2013.

Every day, people and businesses use the services we provide to get their salaries, pay their bills and make online and mobile banking payments. Our vision for the future is to enable a vibrant economy, with Pay.UK delivering the best-in-class payment infrastructure and standards for the benefit of consumers and businesses nationwide.

 

 

Benefits & Additional Information

• 12% Non-contributory pension
• Discretionary annual bonus 
• 30 days annual leave (excluding bank holidays)
• Private medical insurance, life assurance, income protection, health cash plan, dental insurance, Bupa medicals etc
• Employee assistance programme
• Cycle to Work Scheme
• Season ticket loan
• Annual fitness subsidy of up to £500 per annum
• Working from home policy - minimum 40% in the office (eg. 2 days in the office over a 5 day working week)

Please note: Benefits for FTC roles may vary