Senior Operational Risk Manager

Pay.UK; Aldgate; Hybrid; GBP 85,000 - 110,000; Full time

Benefits offered by this job

30 days annual leave

Employee assistance programme

Cycle to Work Scheme

Season ticket loan

Company funded fitness & wellbeing

Working from home policy

Job summary

Pay.UK is seeking a Senior Operational Risk Manager to steward the organisation's risk framework across payment services and business areas. You will maintain risk processes, review events and drive closure of action plans while preparing concise governance papers for senior leaders.

The role requires strong experience in operational risk within financial services or regulated environments, with the ability to analyze issues, track remediation, and support audits and regulatory reviews.

Qualifications

• Experience managing operational risk in financial services, payments or another regulated environment.
• Working knowledge of risk and control frameworks, incident management and risk reporting.
• Experience preparing clear papers, management information and evidence for governance, audit or regulatory review.
• Ability to analyse operational issues, assess control effectiveness and track remediation actions to completion.

Responsibilities

• Maintain operational risk processes, registers and control assessments across payment services and business areas.
• Review risk events, control gaps and action plans, and record clear follow up through to closure.
• Prepare concise risk reports, dashboards and papers for governance forums and senior stakeholders.
• Analyse incidents, near misses and emerging risks, identify root causes and support corrective actions.
• Work with colleagues across the business to keep risk assessments, policies and evidence current and consistent.
• Support audit, assurance and regulatory activity by providing accurate documentation and timely responses.

Skills

Operational risk management

Risk & control frameworks

Governance reporting

Incident management

Job description

Join Pay.UK as a Senior Operational Risk Manager and use your operational risk experience in an organisation that supports payment services people and businesses rely on every day. You will work in a setting where more than 12.5 billion transactions worth over £11 trillion were processed in 2025, helping keep our risk framework clear, practical and well governed.

Accountabilities

• Maintain operational risk processes, registers and control assessments across payment services and business areas.
• Review risk events, control gaps and action plans, and record clear follow up through to closure.
• Prepare concise risk reports, dashboards and papers for governance forums and senior stakeholders.
• Analyse incidents, near misses and emerging risks, identify root causes and support corrective actions.
• Work with colleagues across the business to keep risk assessments, policies and evidence current and consistent.
• Support audit, assurance and regulatory activity by providing accurate documentation and timely responses.

Qualifications, Skills and Experience

• Experience managing operational risk in financial services, payments or another regulated environment.
• Working knowledge of risk and control frameworks, incident management and risk reporting.
• Experience preparing clear papers, management information and evidence for governance, audit or regulatory review.
• Ability to analyse operational issues, assess control effectiveness and track remediation actions to completion.

Pay.UK Behaviours

At Pay.UK, our behaviours are central to who we are and how we operate. They bring our values to life, shape our culture, and guide how we make decisions, collaborate, and respond to challenges across the payments ecosystem. All interview processes will assess the following behaviours:

• Listen to Find Win-Wins - Empathy, Listening and Understanding
• Influence with Courage - Influence, Courage
• Go Horizontal First - Cross Boundary Collaboration
• Take Ownership - Self Development
• Opportunity Mindset - Initiative
• Simplify - Achievement Orientation

In addition, all leadership roles are expected to lead by example through the following behaviours:

• Set Direction - Strategic Planning, Team leadership
• Hold Colleagues to Account - Accountability
• Coach & Grow Your Colleagues - Develop Others

Inclusivity

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.

Who we are

Pay.UK is the recognised operator and standards body for the UK's interbank retail payment systems. We provide the infrastructure and services that millions of people and businesses rely on every day, including Bacs, Faster Payments and the Image Clearing System for cheques, the Current Account Switch Service and Confirmation of Payee. Together, these services help keep money moving safely, securely and reliably across the UK and play an important role in supporting the economy.

In 2025, the UK's retail payment systems processed more than 12.5 billion transactions worth over £11 trillion. Since its launch in 2013, the Current Account Switch Service has successfully helped consumers and businesses switch more than 12 million current accounts. These services help people receive their salaries, pay their bills, make payments and manage their finances with confidence.

Our purpose is to provide the trusted infrastructure, standards and services that underpin UK retail payments. We deliver safe, resilient and efficient payment systems while working collaboratively with industry, regulators and stakeholders to strengthen resilience, tackle fraud, improve access and support innovation across the payments landscape. As the ecosystem evolves, we are continuing to develop our capabilities in areas such as data and AI, enhancing operational insight and helping to build a modern, trusted payments ecosystem.

• 30 days annual leave (excluding bank holidays)
• Employee assistance programme
• Cycle to Work Scheme
• Season ticket loan
• Company funded fitness & wellbeing subscription
• Working from home policy - minimum 40% in the office (eg. 2 days in the office over a 5 day working week)

Please note: Some of our benefits are only available to colleagues after meeting the requirements of the probationary period.

Pay.UK employee benefits are not available to contractors and are only available to permanent and fixed-term employees.

We are committed to making our recruitment practices barrier-free and as accessible as possible, we are therefore happy to make any reasonable adjustments or changes. Please let us know below If you would like us to do any differently during the application, interview, or assessment process, or if you would like information in an alternative format.