Location: London (E20), UK (likely to start remotely due to Covid situation)
Start Date: Variable
Opportunity: Supported hire into permanent roles with flexible working
Closing date for applications: 31 March 2021
Applications are now closed
The Payment Systems Regulator (PSR) is partnering with Women Returners to seek qualified and experienced economists for permanent roles as Senior Associate – Economists.
The PSR welcomes professionals who have taken an extended career break to apply for these roles. Successful hires who have taken a career break of 2+ years will receive coaching support through the transition period from Women Returners. You may have taken time out for childcare or eldercare, for relocation, or for other reasons. You may have been working on a small-scale basis to fit around your other commitments or have not done any paid work for a number of years. Flexible working options are available, including part-time working.
The salary range will be approximately £46,000 to £70,000 plus a competitive benefits package and non-contributory pension
About the Role
The PSR is recruiting for several senior associates to join their Policy team, including economists. They’re keen to talk to economists who are used to applying and explaining economic concepts, in particular those with experience of industrial organisation, regulatory and/or anti-trust economics. You will be joining an established economics function, which is embedded within the Policy team providing economic advice and input across all of the PSR’s work.
The role of a senior associate at the PSR involves collaborating with economists and non economists, which needs flexibility and good communication skills. As a Senior Associate Economist you could lead on the delivery of specific parts of the PSR’s policy work programme, lead economic work streams or provide expert economic advice. You’ll work alongside other economists as well as wider teams (in a matrix structure) providing economic input into projects which could encompass any part of the PSR’s work programme. This means you can work in flexible ways and they are happy to discuss different working patterns. You may also provide the economic input on enforcement or competition cases. It is a relatively small team so you will need to be a self-starter and comfortable working in cross disciplinary environments
The Policy team is composed of economists, technical payments experts and policy specialists. You’ll also work with colleagues from the Legal, Communications and Operations teams.
Examples of the work you will do in this role are:
- Designing and executing pieces of economic analysis to underpin the PSR’s work on promoting competition, innovation and the interests of those making and receiving payments
- Leading projects or economic workstreams involved in market reviews, enforcement investigations and other policy initiatives, requiring you to manage multi-disciplinary project teams and deliver high quality work
- Working with a wide variety of stakeholders, including firms, government, other regulators and consumer groups, to gather evidence, test policy options and explain the PSR’s approach
- Ensuring decisions and recommendations are underpinned by robust economic analysis and evidence
- Providing robust economic analysis and evidence to support the PSR’s work and being responsible for managing the development of policy documents. You’ll also need to draft briefings to explain complex issues, often within tight timeframes and to non-economists
- Presenting policy recommendations to the PSR Board and Executive Committee
- Previous experience in economic analysis in at least one of economic regulation; competition policy; financial markets; payment services or other regulated industries
- A graduate or postgraduate qualification in economics or a related discipline, or equivalent experience
- Pragmatic understanding of both relevant economic theory and how it is applied in relation to regulatory work
- Experience of microeconomic analysis in the context of regulatory projects such as market studies, investigations, actions and appeals or similar
- Comfortable collecting and using different forms of evidence to support economic analysis, with good Excel skills
- Excellent written and oral communication skills, including experience of explaining technical economics to both other specialist economists and non economists in succinct messages, and the ability to present confidently to a variety of internal and external stakeholders.
- Strong relationship and influencing skills and an ability to work collaboratively at senior levels internally and externally
- Excellent prioritisation skills with the ability to define priorities and provide a quality contribution where it is most needed
- Excellent reporting skills in order to prepare and present Board level communications authoritatively
- An understanding of the wider impact of regulation on consumers and businesses, and the ability to look at issues from the perspective of the consumer
- An ability to identify and exercise judgement in collaboration with a multi-disciplinary team, including economists, lawyers, payment specialists as well as policy advisors
- Experience of other sectors subject to economic regulation and the economic analysis involved
- Experience of quantitative analysis such as detailed cost modelling or econometric analysis, potentially including experience in using statistical software packages
- Experience and knowledge of competition law (and the economics relevant to it)
- An up-to-date understanding of the regulatory developments in the UK payments landscape and knowledge of the Payment Systems Regulator
- Familiarity with the key stakeholders in the UK payments landscape
About the PSR
Every time anyone uses a cash machine, transfers money, uses contactless, or gets paid, they use a payment system. Payment systems are always evolving and the PSR makes sure they work well for everyone.
In a fast-moving environment, the PSR challenges the industry to adapt by supporting innovation and improving competition so that the UK benefits from world-leading payment systems. They encourage collaboration to help solve problems and when they need to, they take difficult decisions and use their powers. They change their approach to get the best outcome for everyone.
The PSR is an independent economic regulator. Everything they do is guided by their statutory objectives: to promote competition and innovation and the interests of people and businesses that use payment systems. They are directly accountable to Parliament and the Courts and funded by the payments industry. They work closely with other regulators involved in this sector, notably the Financial Conduct Authority, the Bank of England and the Competition and Markets Authority. Operationally they are an independent subsidiary of the Financial Conduct Authority.
The PSR’s values & diversity
In order to represent the people and organisations that the PSR serves, they are committed to building and sustaining a diverse and inclusive workplace. Their commitment includes disability, ethnicity, LGBT and gender identity through to mental health and social mobility issues.
The PSR is a signatory to the Government’s Disability Confident scheme. This means that they will offer an interview to disabled candidates entering under the scheme, should they meet the minimum criteria for a role. A minimum criterion needs to be measurable from reviewing a candidate’s CV. Exceptions may apply if due to the volume of applications they are not able to interview all eligible candidates who qualify under the scheme.