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Payments Compliance Manager (Compliance Advice Manager)

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Nationwide

1mo ago

  • Job
    Full-time
    Senior Level
  • Government & Politics

AI generated summary

  • You must understand Payment Services Regulations, have strong analytical skills, advise on compliance, and communicate effectively with stakeholders at all levels.
  • You will provide regulatory guidance, interpret payment regulations, engage in risk assessments, prepare governance reports, collaborate with stakeholders, and manage compliance issues effectively.

Requirements

  • Deep knowledge and understanding of Payment Services Regulations such as PSD2 and how this fosters innovation, enhances security, and improves consumer protection in the payments industry.
  • Strong analytical skills to assess risks, identify compliance gaps, and propose effective solutions.
  • A detail-oriented mindset with the ability to interpret complex information and navigate ambiguity.
  • Have experience of advising colleagues on compliance or regulatory-related issues within your current or previous roles.
  • Be forward looking and strategic minded with an eye on current as well as emerging regulation, identifying and weighing possible alternatives and making decisions based on customer and compliance risk.
  • Be a strong communicator with a proven track record and ability to influence across the Society and with associated stakeholders at an executive level.

Responsibilities

  • Provide regulatory expertise and advice to guide, support, validate and challenge business areas in embedding the Payments policy, Payment Services Regulations 2017 (PSR 2017) Assessment Framework and consult on regulatory interpretation, application and controls.
  • Interpret complex and sometimes conflicting regulation, giving attention to both the detail and the big picture of the regulator’s agenda, identifying and weighing up possible alternatives and providing advice and challenge based on customer and compliance risk.
  • Represent Payments on strategic change initiatives and at senior management team meetings to ensure regulatory requirements are identified, understood and addressed.
  • Plan, lead and deliver bespoke payments risk, controls and compliance assignments to a high standard and within timescale tolerances, identifying opportunities to improve effectiveness and efficiency.
  • Support the completion of first line customer and compliance risk assessments and the documentation of key risks, controls and monitoring, providing advice on the interpretation and application of specific payment services regulation.
  • Prepare detailed reports for internal governance committees, which may include updates on compliance activities, risk assessments, policy breaches and / or forward looking and emerging scenarios.
  • Collaborate with key stakeholders within the Payments team and across the Society (e.g., Legal, Economic Crime, Retail, and 2LOD) on all payments-related compliance topics. Utilise insights and data to inform the compliance risk profile (emerging risks and horizon scanning) and advise on how any control or compliance gaps can and should be addressed.
  • Support in the identification, management, action planning and closure of compliance related dispensations, waivers and breaches aligned to the Payments Policy. Ensure all compliance gaps are fully understood, have robust, timely and appropriate action plans in place and are proactively managed to be completed within agreed timescales.

FAQs

Do we support remote work?

Yes, we offer hybrid working wherever possible, allowing colleagues to work from home while spending at least two days per week in the office or 40% of working time if part-time.

What is the primary focus of the Payments Compliance Manager role?

The primary focus is to ensure the Society meets the highest standards of regulatory compliance regarding payment services, particularly under the Payment Services Regulations 2017 (PSRs), to protect members and mitigate risks.

What qualifications are necessary for this role?

A deep knowledge and understanding of Payment Services Regulations such as PSD2, strong analytical skills, experience advising on compliance issues, and the ability to interpret complex information are essential.

What benefits do employees receive at Nationwide?

Employees enjoy a personal pension plan, life assurance, annual performance-related bonuses, training opportunities, 25 days of holiday, and access to health and wellness programs.

What key responsibilities does this role involve?

Responsibilities include providing regulatory expertise, interpreting regulations, preparing reports for governance committees, leading compliance assignments, and collaborating with stakeholders on compliance topics.

How does Nationwide differ from traditional banks?

Nationwide is the world’s largest building society, owned by its members, allowing it to prioritize customer interests and operate differently from traditional banks.

What attributes are valued in candidates for this position?

Candidates should demonstrate strong communication skills, strategic thinking, attention to detail, and a proactive approach in identifying and addressing compliance risks.

How does the application process work?

Interested candidates can apply by clicking the ‘Apply Now’ button, attaching their up-to-date CV, and answering a few quick questions. All applications are reviewed individually, and every applicant will be contacted regarding the outcome.

What kind of work environment can I expect?

You can expect a collaborative and supportive work environment that values employee input, encourages problem-solving, and fosters relationships among colleagues through both in-office and remote work.

Is there a focus on personal and professional development?

Yes, Nationwide provides access to training to help employees develop and progress in their careers, along with opportunities for volunteering and personal growth.

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Nationwide

Helping protect families, businesses and futures

Finance
Industry
10,001+
Employees
1925
Founded Year

Mission & Purpose

Nationwide is a financial services company that offers a wide range of products, including insurance, banking, investments, and retirement solutions. Their ultimate mission is to help individuals, families, and businesses achieve financial security and peace of mind by providing reliable and comprehensive financial services. The purpose of Nationwide is to protect what matters most to their customers, offering tailored solutions and exceptional service to meet their unique needs. They aim to build long-term relationships with their clients, supporting them through every stage of life with trusted advice and financial products designed to safeguard their future.