2024 PSR Policy Graduate Programme

We offer you the chance to start your career and make a real difference.

About the PSR

Every time anyone uses a cash machine, transfers money, uses contactless, or gets paid, they use a payment system. The PSR is here to make sure that payment systems work for everybody that uses them, including by promoting competition and innovation. This is a particularly exciting time to work at the PSR: the use of digital payments is growing fast; new innovations such as Open Banking are starting to take hold; and much of the infrastructure sitting behind inter-bank payments is being renewed. Meanwhile, new forms of payment system are being developed, on the back of so-called stablecoins and other crypto assets. The Bank of England and HM Treasury recently set out plans for a potential Digital Pound. What we do matters and has a tangible impact on people's day to day lives: protecting access to cash for those who need it; tackling payment fraud and ensuring innocent victims get their money back; making sure businesses and their customers benefit from a good choice of how to pay; and supporting innovations that could help us all take more control over our payments. We 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 we are an independent subsidiary of the Financial Conduct Authority, with whom we share an office and other facilities.

We're looking for graduates to join our diverse and highly capable teams across the FCA.

About the Policy Team

The Policy team is focused on delivering our strategy and you will have the opportunity to work on various aspects of policy development and analysis, project delivery and stakeholder management. The policy projects you may be involved in include: Card Fees Market Reviews - debit and credit cards are the most used payment methods by domestic consumers. We are looking at some of the fees paid by different businesses (including merchants and card-issuing banks) when cards are used by customers, to understand whether the markets are working well. Account-to-Account Retail Transactions - in this programme you will work to increase the choices available to people and businesses when they make retail transactions by supporting innovation in account-to-account and open banking payments. You will be allocated to one project, or you may work across more than one. You can also expect opportunities to move between projects as our work priorities shift or as your career with us develops.

About the Programme

Programme Length: Two years

Programme Type: Project based

We are excited to invite graduates to join our Policy team as we continue to grow and evolve to deliver our ambitious strategy. As a Graduate in the PSR Policy team, you will embark on a journey of professional growth and development. You will have the opportunity to work on various policy projects and analysis, contributing to our overall success while building essential relationships both within and outside our organisation. As a graduate in the Policy Team, you will:

• Play an active role in policy development, offering your insights and analytical skills to influence and shape the payment systems landscape.
• Work closely with diverse teams within PSR, collaborating with experts in policy, economics, law, strategy, supervision, and communications to deliver high-quality results
• Interact with a wide range of external stakeholders, including firms, government bodies, fellow regulators, and consumer groups to gather evidence, test policy options and explain our approach.
• Work closely with the rest of the policy team to ensure that our decisions and recommendations are grounded in robust economic analysis and supported by solid evidence.
• Manage the development of policy documents and briefings, often within tight timelines.
• Gain experience in presenting policy recommendations to PSR leadership

You will have the opportunity to work closely with other divisions within PSR, including our Strategy & Intelligence and our Supervision, Compliance & Monitoring departments and develop a breadth of skills and experiences to help you progress your career.

Learning & Development

As a graduate in PSR Policy you will have the opportunity to study towards an Apprenticeship, Professional Qualification or enrol on a development pathway relevant to your graduate programme. We will also give you the support you need to develop your career at the PSR.

What We Look For

Our staff have diverse backgrounds, and no specific degree stands out as being essential for the role. You will learn a lot on the job, so we do not expect you to have a detailed regulatory knowledge, however, you should have an interest in governance and solving complex problems. You will also need to be strategically minded, great at building strong relationships at all levels and be able to communicate your views effectively.

What We Offer

We're committed to making the PSR a great place to work. We do this by:

• Providing a rewarding environment, recognising that our people are motivated by meaningful work
• Maintaining a strong commitment to diversity and inclusion, allowing people to develop and progress without barriers
• Looking after the well-being of our people, ensuring that they are safe and well and appropriately cared for
• Promoting an environment in which people are valued and respected

Beyond this, we offer all our graduates a competitive range of benefits, including:

• Base salary of £36,000
• Flexible working options
• Private health care
• Career and family leave
• Non-contributory pension
• Charity and volunteering initiatives
• Minimum of 25 days' holiday
• Sports and social clubs
• Subsidised on-site fitness centre (London only)
• Free eye tests
• Subsidised restaurant
• Interest-free season ticket loans.

Please note: We only accept ONE application per person for our 2024 programmes, therefore, please apply to your first-choice programme. Any additional applications will not be progressed. Applicants must have obtained, or be on track to achieve, a minimum 2:1 degree from any university. Applicants for the 2024 graduate programmes must have graduated or be in their final year of study. Your application and any work you submit throughout the recruitment process must be all your own. You commit that you will not allow another person to complete any parts of the assessment nor submit responses provided or generated by an AI assistant or other similar software.

This employer is a corporate member of myGwork - LGBTQ professionals, the business community for LGBTQ professionals, students, inclusive employers & anyone who believes in workplace equality.

• Can you tell us about your understanding of payment systems and their importance?
• What interests you about working in the Policy team at the PSR?
• How would you contribute to the promotion of competition and innovation in payment systems?
• Can you provide an example of a policy project you have worked on in the past and explain your role in it?
• How would you approach stakeholder management and building relationships with external parties?
• What skills or experiences do you have that make you well-suited for policy development and analysis?
• Can you give an example of a complex problem you have solved in the past and explain your approach?
• How do you stay informed about the latest developments in the payment systems industry?
• Can you describe a time when you had to work under tight timelines to deliver a policy document or briefing?
• How would you handle presenting policy recommendations to PSR leadership?

• What are the current challenges and opportunities in the payment systems landscape?
• Can you provide examples of recent policy projects that the PSR has worked on?
• How does the PSR collaborate with external stakeholders to gather evidence and test policy options?
• What development opportunities are available within the PSR Policy team?
• How does the PSR support the well-being and career progression of its employees?