Jun 132020

Chair and Non-Executive Director - Pay.Uk

Recruiter: Pay.Uk
Location: Nationwide
Salary: Competitive remuneration
Posted: 12 Jun 2020
Closes: 06 Jul 2020
Job Function: Chair
Industry: Not-For-Profit, Public Services

Chair and Independent Non-executive Director (INED) for Pay.UK


Payments underpin nearly every transaction we make; how we receive our salaries; how we pay for coffee in the morning; how we keep the wheels of commerce turning. Around 39 billion payments were made in the UK last year. Created from the consolidation of the three main UK Retail Bank to Bank Payment Systems (FPS, BACS, ICS), Pay.UK is now the sole UK Retail Payment Systems Operator for intra bank payments.

As the UK's leading Retail Payments Authority, Pay.UK maintains and develops core retail payment systems and standards that are vital to the economy being able to function on a day-to-day basis. We are charged with the responsibility of being systemic risk managers for a financial market infrastructure and we seek to be the guardians of a fast evolving payments ecosystem. Pay.UK puts the needs of consumers, businesses and financial institutions at the heart of everything we do, working in the public interest to ensure that the systems the country relies on for its payments transactions are safe, open, innovative, and resilient.

The on-going transformation of the organisation needs to be led in a way that maintains and promotes the robustness and resilience of the three existing payment systems and wider financial stability. The New Payments Architecture (NPA) currently being developed will be the most significant change to the way payments are processed in the UK since the 1960s, ensuring payments are safe while also encouraging competitive innovation and unlocking new business opportunities in everything from smarter uses of banking and payment data through to new transactional services.

For more information about Pay.UK please go to www.wearepay.uk.

Skills and Experience

Pay.UK is looking to appoint a new independent Chair and INED to their Board. Both individuals will have proven and extensive Board experience in leading organisations across the public or private sectors and through their experiences will command the respect of multiple internal and external stakeholders as well as End User bodies and Participants (UK banks and other payment providers).

It is vital that these individuals possess extensive commercial acumen and the ability to understand the structural and commercial dynamics of the payments industry in relation to the provision of core services to a multi-dimensional stakeholder base. The successful candidates will have a strong understanding of market dynamics and the strategic imperatives of a fast-evolving and competitive marketplace.

An understanding and appreciation of the broader Financial Services industry or another heavily regulated industry in the UK is crucial. Previous Payments experience is not essential, however an understanding of the significant role that Payments plays in the wider economy is.

Specifically, the Chair will need to influence internally and externally and to enable consensus building as Pay.UK is an organisation created for the delivery and development of services for its participants, whilst also seeking to engage its mandate to drive standards, compliance and change that will benefit the wider market. As such, candidates for the Chair role will need to have significant previous Chair experience and the gravitas and confidence to lead the Board effectively. They will need to have the interpersonal skills to engage with the most senior leaders within the Financial Services industry as well as with, policy makers, Regulators and End Users.

The INED will have strong non-executive experience as well as experience leading industry wide transformations, in multi-stakeholder environments, including but not limited to critical national infrastructure. Candidates will need to have a strong strategic mindset, and a proven ability to be part of a high calibre Board. Proven experience in a highly regulated environment is also essential, ideally from both a prudential and competition perspective.

The successful candidates will be appointed for an initial period of three years, at a competitive remuneration.

Time commitment for the Chair role is circa 2 days a week.

Time commitment for the INED role is circa 56 days per annum, including membership and/or chairing of appropriate Board Committees.

Further enquires and applications (CV and covering letter) should be sent to: pay.uk@moloneysearch.com.

The closing date for applications is 23:55 on July 6th 2020.

Please state on your application whether you would like to be considered for the Chair or INED role or both.

We welcome applications from all and Pay.UK is fully committed to diversity and equality as an equal opportunities employer.

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