Payment Scheme (FPS & CHAPS) Assurance Executive in London City

Payments Recruitment; City Of London; Hybrid; GBP 40,000 - 50,000; Full time

Job summary

A leading bank in the City of London is seeking a compliance professional to join their security & risk team. The role focuses on ensuring operational and technical processes align with regulatory standards and best practices. The ideal candidate will have 2-3 years of experience in scheme assurance and a strong understanding of payment schemes like FPS and CHAPS. Competitive salary of £40-50k with hybrid working options after training.

Benefits

Competitive salary

Benefits & bonus

Hybrid working after training

Qualifications

• Minimum 2-3 years experience within a scheme assurance, compliance, or related role.
• Strong understanding of payment schemes, especially FPS and CHAPS.
• Commitment to continuous improvement and staying up to date with industry changes.

Responsibilities

• Conduct thorough assessments for scheme compliance.
• Monitor and verify adherence to regulatory requirements.
• Identify improvements for operational efficiency.
• Develop understanding of FPS and CHAPS scheme requirements.

Skills

Scheme assurance experience

Payment schemes knowledge

Attention to detail

Analytical skills

Communication skills

Regulatory interpretation

Organizational skills

Job description

Overview

Challenger Bank based in Canary Wharf; £40-50k basic + benefits & bonus; Office based until end of training & probation, then hybrid working available.

Our client is a high growth challenger bank, with an office in Canary Wharf, who are keen to add a new member to their security & risk team. The role is to ensure that the bank's operational and technical processes align with scheme requirements, regulatory standards, and industry best practices. This will involve:

Responsibilities

• Scheme Compliance: Conduct thorough assessments based on scheme requirements to verify that the bank's operations meet the specified criteria, ensuring compliance with industry standards and regulatory guidelines.
• Regulatory Adherence: Continuously monitor and verify that the bank's processing activities adhere to relevant regulatory requirements. Promptly address any non-compliance issues and collaborate with internal teams to implement corrective actions.
• Continuous Improvement: Actively contribute to the bank's efforts to enhance operational efficiency and scheme compliance. Identify areas for improvement in processes, procedures, and systems and work towards their implementation.
• Scheme Expertise: Develop a deep understanding of the Faster Payments Service (FPS) and CHAPS scheme operational and technical requirements. Provide guidance and training to internal teams to ensure comprehensive compliance with these schemes.
• Documentation and Reporting: Maintain detailed records of compliance assessments, findings, and action plans. Prepare reports and documentation for internal and external audits to ensure transparency and accountability.
• Collaboration: Collaborate closely with cross-functional teams, including IT, operations, risk management, and compliance, to facilitate a unified approach to scheme assurance and compliance, fostering effective teamwork and communication.
• Scheme Changes: Stay updated with any changes or updates to scheme requirements and ensure that the bank's operational processes are adjusted promptly to remain compliant.
• Risk Mitigation: Identify and assess potential risks related to scheme compliance and work proactively to mitigate these risks, safeguarding the bank's reputation and customer satisfaction.

Your background

• Minimum 2-3 years experience within a scheme assurance, compliance, or a related role within the financial industry / banking
• Strong understanding of payment schemes, with a focus on FPS and CHAPS.
• Excellent attention to detail and analytical skills.
• Effective communication and interpersonal skills to work collaboratively with cross-functional teams.
• Ability to interpret and apply complex regulatory requirements.
• Strong organizational and documentation skills.
• Commitment to continuous improvement and staying up to date with industry changes.