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Our Purpose

We work to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. We cultivate a culture of inclusion for all employees that respects their individual strengths, views, and experiences. We believe that our differences enable us to be a better team – one that makes better decisions, drives innovation and delivers better business results.

Title and Summary

Senior Vice President, Global Open Banking & API Risk and Compliance

Who is Mastercard?

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential.

Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Overview:

At Mastercard we are committed to the highest standards of ethics and integrity. Ethics and Compliance are at the core of our company values and are essential to both the personal success of every Mastercard employee and to the success of the company. The SVP, Global Open Banking & API Risk and Compliance will be responsible for leading, strengthening, extending and sustaining a successful risk and compliance program working across various stakeholders.

Open Banking is strategically evolving across several key areas as it maximizes growth across various uses cases and creates new value with (and for) Mastercard assets. The business is growing across initiatives, products, partnerships, market entries, etc. and with that comes an emerging risk and compliance landscape. In Europe we are subject to regulatory obligations as an AISP and PISP in the EU (Aiia), and to further scale the business model, it will also need to become licensed as an AISP/PISP in the UK. These licenses bring significant compliance obligations inclusive of AML regulations, requiring the licensed entities to have comprehensive AML Programs and on-soil money laundering reporting officers. Additionally, in some markets, like the US, the Open Banking business has compliance obligations in relation to credit reporting and the regulatory environment continues to evolve (i.e. CFPB open banking rule making (1033), etc.) Therefore, this role is crucial to ensuring that the business is compliant with all relevant regulations, to mitigate the risks associated with financial crime and export controls violations, and to build and scale an efficient global/local compliance model in support of the business.

The SVP provides global ownership and strategy, management, and single point of senior management liaison. They will work closely with executive stakeholders across the business spanning product, sales, and heads of the Open Banking business engaging as a true business partner helping us balance what is needed for compliance but also understanding business risk and influencing product and business decisions. The SVP will also lead a hybrid compliance structure with a mix of centralized services and management along with localized compliance officers and SMEs. As part of this, they will be responsible for developing and implementing policies, procedures, and controls that are tailored to the company's business and comply with global standards and local regulations. In addition to providing guidance and training to the business on AML, Sanctions, and Export Controls compliance matters. By having a dedicated SVP, Global Open Banking & API Risk and Compliance, the company demonstrates its commitment to compliance and builds trust with regulators, customers, and other stakeholders, ultimately safeguarding the long-term success of the business.

Role:

  • Provide comprehensive subject matter expertise to support development and implementation of business strategy
  • Drive a well-balanced risk framework navigating a new and evolving business model spanning both regulated and non-regulated markets
  • Lead and manage a dedicated, 1st-line operational compliance function to effectively and efficiently manage complex and growing compliance obligations
  • Develop and further build the existing risk and compliance team and program inclusive of strategic leadership and oversight, entity specific compliance officers and managers, and centralized/local compliance functions
  • Manage and provide ongoing development of a global compliance team, with a focus on The Mastercard Way principles and behaviors.
  • Manage relationships with regulators, auditors, and other internal and external stakeholders.
  • Remain current with changes in AML, Sanctions, and Export Controls regulations and industry best practices.
  • Develop and implement AML, Sanctions, and Export Controls policies, procedures, and controls in line with global standards and local regulations.
  • Ensure that all business activities, customers, transactions, and third-party relationships are appropriately, assessed, screened and monitored for AML, Sanctions, and Export Controls risks.
  • Conduct risk assessments and provide guidance and training to the business on AML, Sanctions, and Export Controls compliance matters.
  • Investigate and report suspicious activity and potential sanctions violations or export control breaches to the relevant authorities.

All About You

  • Bachelor's degree, Law degree preferred.
  • Strong capability in assessing, directing, building/remodeling compliance programs spanning diverse, complex or high-risk business areas, geographies, products and services.
  • Proven track-record in leveraging various risk management techniques to align business to group standards, while establishing frameworks which create the required room for local regulatory flexibility.
  • Extensive experience executing compliance programs, including design, implementation and oversight of controls.
  • Must be able to work on highly complex issues of significant importance.
  • Experience in AML, Sanctions, and Export Controls compliance in a global financial institution, multinational corporation, or card network company.
  • Strong knowledge of AML, Sanctions, and Export Controls regulations and industry standards, including OFAC, EU, UN sanctions regimes, and US and EU export control laws and regulations.
  • Excellent analytical, communication, and interpersonal skills.
  • Proven ability to work independently and manage multiple projects simultaneously.
  • Strong business acumen and solutions orientated.
  • Experience interacting with senior management and board.
  • Experience managing budget.
  • Strong written and verbal communication skills.
  • Attention to detail is critical.
  • Ability to demonstrate thought leadership.
  • Fluent in English, additional languages are a plus.

Corporate Security Responsibility

Every person working for, or on behalf of, Mastercard is responsible for information security. All activities involving access to Mastercard assets, information, and networks comes with an inherent risk to the organization and therefore, it is expected that the successful candidate for this position must:

  • Abide by Mastercard’s security policies and practices;
  • Ensure the confidentiality and integrity of the information being accessed;
  • Report any suspected information security violation or breach, and
  • Complete all periodic mandatory security trainings in accordance with Mastercard’s guidelines.

In the US, Mastercard is an inclusive Equal Employment Opportunity employer that considers applicants without regard to gender, gender identity, sexual orientation, race, ethnicity, disabled or veteran status, or any other characteristic protected by law. If you require accommodations or assistance to complete the online application process, please contact reasonable_accommodation@mastercard.com and identify the type of accommodation or assistance you are requesting. Do not include any medical or health information in this email. The Reasonable Accommodations team will respond to your email promptly.

Corporate Security Responsibility

All activities involving access to Mastercard assets, information, and networks comes with an inherent risk to the organization and, therefore, it is expected that every person working for, or on behalf of, Mastercard is responsible for information security and must:

  • Abide by Mastercard’s security policies and practices;
  • Ensure the confidentiality and integrity of the information being accessed;
  • Report any suspected information security violation or breach, and
  • Complete all periodic mandatory security trainings in accordance with Mastercard’s guidelines.

In line with Mastercard’s total compensation philosophy and assuming that the job will be performed in the US, the successful candidate will be offered a competitive base salary based on location, experience and other qualifications for the role and may be eligible for an annual bonus or commissions depending on the role. Mastercard benefits for full time (and certain part time) employees generally include: insurance (including medical, prescription drug, dental, vision, disability, life insurance), flexible spending account and health savings account, paid leaves (including 16 weeks new parent leave, up to 20 paid days bereavement leave), 10 annual paid sick days, 10 or more annual paid vacation days based on level, 5 personal days, 10 annual paid U.S. observed holidays, 401k with a best-in-class company match, deferred compensation for eligible roles, fitness reimbursement or on-site fitness facilities, eligibility for tuition reimbursement, gender-inclusive benefits and many more.

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