Payments SME – Banking Licence & Payments Transformation

Location: London (Hybrid Working)

Contract: Initial 6 Months (Likely Extension)

Day Rate: Competitive

We are supporting a leading Wealth & Investment Management organisation as they embark on a major strategic transformation programme to establish a new banking capability and support a banking licence application.

As part of this initiative, we are seeking a highly experienced Payments Subject Matter Expert to take ownership of the payments architecture, operating model, and strategic delivery roadmap. This is a senior advisory and delivery-focused role requiring someone who can operate independently, engage with executive stakeholders, challenge third-party vendors, and drive key decisions across payments, banking operations, and regulatory workstreams.

Key Responsibilities

Lead the design and development of the organisation's future payments strategy and operating model.
Provide subject matter expertise to support banking licence and regulatory initiatives.
Produce key artefacts including target-state architectures, process flows, requirements documentation, decision papers, and executive presentations.
Engage with senior stakeholders across Operations, Technology, Risk, Compliance and Executive Leadership.
Evaluate and challenge vendors, banking partners, and payment service providers.
Support the design of scalable, resilient, and compliant payment operations.

Required Experience Payments & Banking Operations

Deep expertise across UK payment operations, including:
Faster Payments
Bacs
CHAPS
Client money and nominated account structures
Card payment networks
FX settlement and treasury-related payment flows
Savings and deposit operations

Banking & Regulatory Expertise

Strong understanding of banking operating models and payment infrastructure.
Experience supporting banking licence, digital banking, e-money or payments transformation programmes.
Knowledge of PSD2 and associated regulatory requirements.
Experience selecting, integrating and managing PSD2-licensed payment partners.
Understanding of operational resilience requirements and how payments architecture supports regulatory compliance.

European & Cross-Border Payments

Experience operating across multi-entity European environments.
Knowledge of correspondent banking models, intragroup arrangements and cross-border payment structures.
Expertise in liquidity management, account placement strategy and reconciliation frameworks.

Clearing & Banking Partner Selection

Proven experience leading clearing bank selection exercises, including:
Requirements gathering
Market assessment and vendor shortlisting
Commercial evaluation
Due diligence
Contract negotiations and onboarding

Custody & Wealth Management Operations

Understanding of custody and banking operating models.
Experience with:
Client money segregation
Sub-custodian arrangements
Banking and custody control frameworks
Payment design considerations within regulated wealth management environments

Technology & Platform Knowledge

Strong understanding of payments architecture and banking technology ecosystems.
Experience with Avaloq is highly desirable, including:
Avaloq operating model and architecture
Front-office, middle-tier and back-office integration
Payments and banking workflow connectivity

Ideal Background

We are particularly interested in individuals who have delivered similar initiatives within:

Wealth Management
Private Banking
Digital Banking
Custody Services
Asset & Investment Management
Challenger Banks
Payment Service Providers (PSPs)

This role requires a hands-on SME who can combine strategic advisory capability with practical delivery experience and operate credibly at executive level while driving detailed workstreams independently.

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