CHAPS CO: Non-Executive Director and Chair of the CHAPS Service User Group

Non-Executive Director and Chair of the CHAPS Service User Group

One of the UK’s systemically important Payment System Operators, CHAPS Co is one of the principal electronic payment schemes and, as such, is critical to the operation of the economy. It handles over £68 trillion of payments every year.  CHAPS Co is owned by its banking users and is subject to oversight by the Bank of England and the Payment System Regulator.

CHAPS Clearing Company Ltd is seeking to appoint a fourth Independent Non-Executive Director (INED) to the Board. This is to ensure continued compliance with Corporate Governance Best Practice and that appropriate focus is given to public interest issues. The new INED will also be required to Chair the Company’s Service User Group which has the aim of helping CHAPS Co to drive positive change and to deliver business benefits to the payment ecosystem.

The NED will be expected to help ensure that the scheme operates effectively and efficiently whilst safeguarding the public interest. As one of four INEDS, they will lead in promoting openness and innovation in payments and access to this vital system.

The position will require a time commitment of three days per month and will be competitively remunerated.

All candidates will need extensive experience of stakeholder management and will be joining the Board at a time of considerable change in the Payments Industry (as highlighted by the Payment Systems Regulator’s core objectives around Competition, Innovation and the Service User). They should either have experience in payments, banking or financial services, or in a complex technology or systems based industry.  Board experience and experience chairing a committee or a Board is essential.

An understanding of payment and settlement systems and processing is highly desirable.

If you are interested in applying, please send a covering letter and copy of your CV to [email protected]

The closing date for applications is 16^th May 2016