Senior Economist Associate

43000.00 - 70000.00 GBP Annual + + Additional Benefits
07 Aug 2017
15 Aug 2017
Contract Type

The PSR is an independently accountable economic regulator for UK payment systems the 'pipes' that allow the transfer of money between people and institutions, from paying for your coffee by card at a restaurant to receiving your wages or transferring funds to buy a house

We are the first regulator of our kind in the world. Our core role is to promote competition, innovation, and make sure the interests of the people and businesses that use payment systems are kept at the forefront of change. And we are a growing organisation that is always looking for new talent. Currently we have approximately 70 staff working at the PSR across four departments; Policy, Legal, Communications and Operations.

Joining the PSR is an excellent opportunity to play a role in the growth of a new economic regulator in the UK.

What does the job involve?

The policy team analyses the payments industry and markets, and uses that knowledge to develop our policies. The team is composed of economists and policy specialists. Our economists mainly deal with competition issues and quantitative analysis of information. The wider policy team use this work as a foundation for developing policies that advance our objectives.

The team explores topics such as the social impact of payment systems, government concerns, innovation and many more. Much of its work involves working with external stakeholders and keeping up to date with what's happening in the industry and the UK economy.

Purpose of the role

As a member of the PSR Policy team, you will be supporting the development of its strategy, policies and regulatory approach.

Key Accountabilities:

- Performing analysis to identify emerging issues and priorities for the PSR.
- Assisting in developing policy proposals and taking them through internal and external processes (e.g. drafting, governance, consultation, rule-making, etc).
- Assessing of the impact of economic regulation on the industry.
- Delivering a strategy to embed a robust economic and regulatory approach to the PSR's policy work.
- Tackling significant and high profile challenges in the payments industry.
- Contributing to the PSR's wider programme of work.
- Working with external stakeholders (e.g. Industry, HM Treasury, the Bank of England, FCA, European Commission and other overseas regulators) to promote our objectives and advising internal stakeholders within the PSR and the wider FCA.
- Working with and supporting other divisions in the FCA by providing advice and guidance on payments related issues as required.
- Providing briefing for, and supporting, the PSR's senior management.
- Developing policy proposals and regulatory or competition actions - from drafting to consultation through to sign-off.
- Providing robust economic analyses and evidence to support our consultations, investigations, market reviews.
- Applying the PSR's concurrent competition powers.
- Preparing cost-benefit analyses (CBAs).

Minimum, Essential and Desirable Skills


- A postgraduate qualification in economics or a related discipline OR an undergraduate degree in economics with significant relevant professional experience.
- Expertise and experience in one or more of these areas: - economic regulation
- competition policy
- financial markets
- payment services


- Excellent analytical and problem solving skills: the ability to think clearly and rigorously, to draw reasoned and logical inferences from quantitative and qualitative data, to test those inferences and use judgement to reach robust and practical conclusions.
- Awareness and understanding of the key factors/concerns surrounding the payments industry.
- The ability to build and maintain relationships with a wide range of stakeholders, both internal and external.
- Previous experience in gathering, analysing and assimilating information from multiple sources.
- Excellent written and oral communication skills.
- Excellent prioritisation and organisational skills - including the ability to work on a diverse set of projects and work streams.
- The ability to work under pressure and to tight deadlines.


- Experience of other economic regulated sectors.
- Familiarity with the key stakeholders in the UK payments landscape.
- An understanding of competition law/economics.
- An up-to-date understanding of the regulatory developments in the UK payments landscape and knowledge of the Payment Systems Regulator.
- A good understanding of the role of the FCA.
- Basic knowledge of strategy development backed ideally by experience.

What will I get form the role?

The PSR will support your development and provide training and support to enable you to develop your regulatory and economics or policy-making skills within the PSR.


- a minimum of 25 days holiday
- an annual incentive bonus scheme
- an additional flexible benefits allowance
- a competitive non-contributory pension scheme
- access to the FCA Academy
- private medical cover (employee) and annual health screening
- life assurance and income protection cover
- free eye tests
- a subsidised on-site fitness centre
- career and family leave
- flexible working options
- an employee assistance programme
- an interest-free season ticket loan of up to 7,500
- a subsidised restaurant
- sports and social clubs
- charity and volunteer initiatives
- a reflection and multi-faith room

How to apply

Please submit your CV and answers to the following application question:

Why do you believe that you are suitable for this role? (max 300 words)

Please ensure that you specifically relate your answer to the criteria listed in the job advert, covering your relevant skills, technical knowledge and competencies.

If you have applied for a role related to the PSR within the last three months, please make contact prior to submitting applications.

Additional Information

The deadline for applications is midnight on the 20th August 2017.

As an inclusive employer, we are open to considering flexible working arrangements. Please contact our recruiter if you wish to apply for this role on a flexible basis.

This position falls within the POL C salary banding. The salary range is 43,000 to 70,000.

Please note that this is a permanent vacancy, but we would consider internal applications for a 12 month secondment also. Please specify in your cover letter if you are applying for an internal secondment.

In 2018 our head office will move from Canary Wharf to a new location in The International Quarter, Stratford, London. This new site will offer a compelling mix of a quality building, excellent facilities and the right infrastructure to meet our future needs.