Director, Risk & Control

Our Purpose Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re helping build a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential. Title And Summary Director, Risk & Control

Overview 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.

Leveraging Mastercard’s global payments network, our account-to-account business provides domestic and cross-border solutions to enable the frictionless future of payments. We help our customers leverage rich messaging functionality and applications to capture business and consumer payment flows both domestically and cross-border; offer solutions to connect, enable, and safeguard the Open Finance ecosystem, and protect banks and their customers from financial crime. All of this is supported by account-based data insights and consulting to help our clients optimise their payment strategies across the world.

Open Finance is a worldwide phenomenon, gathering pace over the recent years and set to transform many aspects of financial services as well as adjacent services. Mastercard has built a suite of Open Finance Solutions designed to connect, enable and safeguard the Open Finance ecosystem and are now in the process of bringing new solutions to market, commercialising and enhancing them. There are a number of markets already live with various forms of open banking offerings and other markets where Open Finance is at earlier stages of development.

The Role

Mastercard’s Open Finance Risk & Control team’s role includes managing and delivering upon key risk advisory and control execution, to ensure the resilience of our products and services and the integrity of our business. This position will play a key role in driving risk strategy and leading programs and projects supporting the initiatives taken by the Open Finance team, to ensure the resilience of the business and to meet regulatory requirements from EU DORA. This position will report to the Vice President, 1st line Risk & Control in the Open Finance Team and will be expected to maintain a close working relationship with the 2nd line Risk team overseeing regulated entities in Europe.

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 Regulatory Compliance Officer, will be responsible for managing, strengthening, extending and sustaining a successful regulatory compliance program particularly in relation to the Open Banking business in Europe. Relevant to this will be regulatory oversight and supervision at national level and how this fits with Mastercard’s broader pattern of regulation as a global business. The successful candidate will design, drive and support regulatory compliance activities for Mastercard open banking operations in Denmark, the United Kingdom and other countries as needed. The successful candidate will work cross-functionally with his / her Mastercard colleagues within the domestic business and within the global structure including, Regulatory Affairs, Legal, Human Resources, Finance, Public Policy, Privacy/Data Usage, Global Ethics and Compliance and Internal Audit.

Key Responsibilities of the role

• Facilitate design, drive and execute Open Finance 1st line Risk & Control strategy
• Design and lead risk programs and projects
• Solid understanding and knowledge of Open Banking tecknology and of payments regulation in Europe
• Support the implementation, update and maintenance of Risk frameworks, specifically focused on 1st line ICT risk management activities
• Produce and maintain procedures, tools and templates to ensure the continuous effectiveness of the relevant risk and control frameworks
• Ensure ongoing maintenance of control libraries by setting direction for risk and control owners in managing effective controls
• Lead the completion of risk assessments across products and processes
• Work closely with senior leadership within Open Finance and enable strong understanding of risk owner responsibilities
• Understand jurisdiction regulatory requirements and work with 2nd Line Risk and Compliance personnel to ensure proper identification, tracking and reporting of issues.
• Work closely with 2nd line risk teams to ensure effective Implementation of operational risk policies & procedures
• Provide support to relevant 2nd line Risk in delivering consistent and clear information to risk committees and board meetings
• Lead relevant 1st line risk forums, enabling clear ownership of relevant control domains
• Oversee remediation of audit findings and risk assessment outcome by proposing new / enhanced controls and oversee implementation, and perform action-tracking of remediation plans
• Support collaborative working relationships with stakeholders, including Regulatory Affairs, Legal and Compliance functions at the local, regional, and global level.

Key Competencies

• Bachelor’s Degree in a relevant field such as Risk and/or Control Management, Finance or Business
• Proven track record in designing and leading successful regulatory and risk programs and projects especially as they relate to control frameworks
• Extensive experience working with risk management in an EU and UK based financial institutionAbility to assess the impact from policy requirements, adapt to local regulationand setup and develop practical operational procedures to ensure effective mitigation of risks
• Solid stakeholder management experience
• Ideally experience working in a multi-matrix organisation with different functional reporting lines
• Critical problem-solving ability
• Strong business acumen and solutions orientated
• Risk management and internal controls focused
• Strong written and verbal communication skills
• Attention to detail

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.