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EU PSD3 and Payment Services Regulation (Proposed) for Risk Managers

What does EU PSD3 and Payment Services Regulation (Proposed) require of a Risk Manager?

The proposed EU Payment Services Directive 3 (PSD3) and Payment Services Regulation (PSR), published by the European Commission in June 2023, will replace PSD2. Under EU PSD3 and Payment Services Regulation (Proposed), a Risk Manager's work is deciding which controls you own outright, which you share and which belong to another team, then holding the evidence for the first group.

Which EU PSD3 and Payment Services Regulation (Proposed) controls land on the Risk Manager

Risk Managers identify, assess, and prioritise organisational risks. They build risk registers, conduct risk assessments, define risk appetite, and ensure that compliance frameworks address the most material threats to the organisation.

EU PSD3 and Payment Services Regulation (Proposed) includes requirements that directly affect the Risk Manager role. Understanding which controls fall within your ownership, which are shared, and which are owned by other teams is the foundation of effective compliance management.

What a Risk Manager is accountable for under EU PSD3 and Payment Services Regulation (Proposed)

1

Conducting enterprise risk assessments and maintaining the risk register

2

Defining risk appetite and tolerance levels with executive leadership

3

Mapping compliance controls to identified risks for coverage analysis

4

Monitoring key risk indicators (KRIs) and escalating emerging threats

5

Integrating compliance, operational, and strategic risk management

Where Risk Managers lose time on EU PSD3 and Payment Services Regulation (Proposed)

These are the most common obstacles Risk Managers face when managing EU PSD3 and Payment Services Regulation (Proposed) compliance, and how to address them:

Challenge 1

Quantifying cyber risk in financial terms that resonate with executives

Challenge 2

Identifying gaps between compliance control coverage and actual risk exposure

Challenge 3

Integrating risk data from siloed tools and departments

Challenge 4

Keeping risk assessments current as the threat landscape evolves

Challenge 5

Prioritising remediation when resources are limited

A working order for a Risk Manager starting on EU PSD3 and Payment Services Regulation (Proposed)

1. Readiness Assessment

Take a 5-minute readiness assessment to identify your organisation's current gap profile against EU PSD3 and Payment Services Regulation (Proposed). Get a prioritised action plan tailored to your specific situation.

2. Cross-Framework Mapping

Use our platform to map EU PSD3 and Payment Services Regulation (Proposed) controls against other frameworks you already comply with. EU PSD3 and Payment Services Regulation (Proposed) maps to 506 other frameworks in our database.

3. Build Your Toolkit

Equip yourself with EU PSD3 and Payment Services Regulation (Proposed) toolkits, self-assessments, and implementation guides from our store. Resources designed specifically for Risk Managers managing compliance programmes.

4. Continuous Monitoring

Establish ongoing compliance monitoring using our platform's gap analysis tools. Track your maturity over time and demonstrate progress to stakeholders.

EU PSD3 and Payment Services Regulation (Proposed) in your sector

EU PSD3 and Payment Services Regulation (Proposed) for Healthcare→EU PSD3 and Payment Services Regulation (Proposed) for Financial Services→EU PSD3 and Payment Services Regulation (Proposed) for Technology→EU PSD3 and Payment Services Regulation (Proposed) for Government→EU PSD3 and Payment Services Regulation (Proposed) for Manufacturing→EU PSD3 and Payment Services Regulation (Proposed) for Energy→EU PSD3 and Payment Services Regulation (Proposed) for Retail→EU PSD3 and Payment Services Regulation (Proposed) for Education→

Who else owns part of EU PSD3 and Payment Services Regulation (Proposed)

EU PSD3 and Payment Services Regulation (Proposed) for CISOsView guide →EU PSD3 and Payment Services Regulation (Proposed) for Compliance OfficersView guide →EU PSD3 and Payment Services Regulation (Proposed) for IT DirectorsView guide →EU PSD3 and Payment Services Regulation (Proposed) for DPOsView guide →EU PSD3 and Payment Services Regulation (Proposed) for AuditorsView guide →

Questions Risk Managers ask about EU PSD3 and Payment Services Regulation (Proposed)

What does a Risk Manager need to know about EU PSD3 and Payment Services Regulation (Proposed)?
As a Risk Manager, your key responsibilities under EU PSD3 and Payment Services Regulation (Proposed) include conducting enterprise risk assessments and maintaining the risk register and defining risk appetite and tolerance levels with executive leadership. Understanding which controls you own versus which are shared with other teams is critical for effective implementation.
How does EU PSD3 and Payment Services Regulation (Proposed) affect the Risk Manager role?
EU PSD3 and Payment Services Regulation (Proposed) directly impacts Risk Managers through conducting enterprise risk assessments and maintaining the risk register, defining risk appetite and tolerance levels with executive leadership, mapping compliance controls to identified risks for coverage analysis. The framework provides structure that helps Risk Managers demonstrate due diligence and report compliance status to stakeholders.
What are the biggest EU PSD3 and Payment Services Regulation (Proposed) challenges for Risk Managers?
Common challenges include quantifying cyber risk in financial terms that resonate with executives; identifying gaps between compliance control coverage and actual risk exposure; integrating risk data from siloed tools and departments. Using cross-framework mapping tools and automated evidence collection can significantly reduce these pain points.
How should a Risk Manager prepare for a EU PSD3 and Payment Services Regulation (Proposed) audit?
Start by conducting a readiness assessment to identify gaps. Then focus on mapping compliance controls to identified risks for coverage analysis and monitoring key risk indicators (kris) and escalating emerging threats. Maintain a current evidence repository and ensure all control owners have documented their processes. Our readiness reports provide a prioritised action plan specific to your gap profile.
What tools help Risk Managers manage EU PSD3 and Payment Services Regulation (Proposed) compliance?
Effective EU PSD3 and Payment Services Regulation (Proposed) compliance management requires tools for gap analysis, control mapping, evidence collection, and reporting. Our compliance platform provides AI-powered gap analysis across 1,120 frameworks with 315K+ verified control-to-control mappings, helping Risk Managers identify overlapping requirements and reduce duplicate compliance effort.

Risk Manager: How ready is your organisation for EU PSD3 and Payment Services Regulation (Proposed)?

Answer 25 questions and get a professional readiness report with gap analysis, maturity scores, and prioritised action items. Results in 5 minutes.

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Written and maintained by Gerard Blokdyk, The Art of Service.