About Vijay Ray

Vijay Ray is part of RSM’s Financial Services Regulation and Compliance team, which advises clients on FCA regulatory requirements across sectors including banking, wealth and asset management, consumer credit, insurance, payment services and mortgage lending. The team supports firms through regulatory assurance, remediation, co-sourced compliance monitoring, skilled person reviews, target operating model design, secondments, regulatory training, and safeguarding and CASS 15 work. Vijay’s focus is on payments firms, with particular expertise in safeguarding and risk management. He helps clients understand their regulatory obligations, strengthen governance and controls, and develop practical approaches that support good customer outcomes.

Vijay is a regulatory professional with experience across financial services compliance and risk management, specialising in payments, e-money and fintech. Before joining RSM, he advised major financial institutions at EY on authorisations, governance and regulatory strategy. His work included supporting Tier 1 institutions, financial services business model transformation for a global OEM, and international regulatory matters. He also contributed to the UK Regulation Committee of the International Regulatory Strategy Group. Prior to EY, Vijay worked at the FCA, supervising retail banking and payments firms, leading safeguarding and prudential reviews, and assessing regulatory risk. He holds legal qualifications and professional credentials in securities, investment and banking operations.

"As a former regulator, I understand the significant effort required to maintain compliance in one of the world’s most tightly regulated sectors. Payments firms operate in a complex and fast-moving environment, where regulatory expectations, operational resilience and customer protection all need to work together. I enjoy helping firms navigate that complexity, bringing clarity to challenging issues and finding pragmatic solutions that meet regulatory expectations while supporting their commercial objectives. For me, the most rewarding part of the role is helping clients move from uncertainty to confidence.”

Outside work, Vijay spends much of his time creating adventures with his two young children, travelling as a family, encouraging their curiosity and finding as many varied ways as possible to tire them out.

RSM timeline:

• 2026: promoted to Director
• 2024: joined RSM as Associate Director