Vice President, Legal Compliance-R-246826
Join to apply for the Vice President, Legal Compliance-R-246826 role at Mastercard
Vice President, Legal Compliance-R-246826
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Join to apply for the Vice President, Legal Compliance-R-246826 role at Mastercard
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
Vice President, Legal Compliance
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
Vice President, Legal Compliance
Job Title: Vice President, Mastercard Transaction Services (Europe), Compliance Officer (CO) and Money Laundering Reporting Officer (MLRO)
MTS Overview
Mastercard Transaction Services (MTS) and its subsidiaries are the legal entities under which all of Mastercard’s licensed money transfer and payment initiation services will be conducted, reporting into the Commercial and New Payments Platform (CNPF) division. The MTS business unit and the MTS shared services functions are housed under the umbrella of MTS and are comprised of components central to the activities of a licensed payment services firm. These components include:
* Payment/Money transmitter licenses for operating payments business in defined jurisdictions
* Contract definition (associated T&Cs) specific to the MTS entity and its umbrella geographies
* Associated settlement accounts and other services for the relevant MTS entity
* Compliance services including, but not limited to, due diligence, real-time sanctions screening/AML/fraud management, etc.
* Regulatory reporting to the relevant regulators on behalf of the regulated business and its subsequent activities
MTS US is the authorized and regulated licensed entity within Mastercard Transaction Services (MTS) through which regulated payments activity is undertaken for our US-based customers and others around the world. MTS is a division within Mastercard that undertakes payments business wherever a product or business function requires regulated support.
MTS is seeking a Compliance Officer and Money Laundering Reporting Officer (MLRO) based in Waterloo, Belgium, who will coordinate and maintain a robust AML/CFT/Sanctions program in alignment with the EU AML Directives, NBB regulatory requirements and regional sanctions reporting obligations
Additionally, the candidate will drive our customer experience strategy forward by consistently innovating and problem-solving in the Compliance arena. The ideal candidate is passionate about the customer experience journey, highly motivated, intellectually curious, analytical, and possesses an entrepreneurial mindset.
Role Summary
The MTS EU CO and MLRO must be knowledgeable and skilled in the relevant AML/CFT/Sanctions Compliance areas and report quarterly to the MTS EU Board and Management Committee on the status of the Compliance program and its organization. MTS serves customers based in the EU and several other countries around the world. This role requires working as part of a geographically diverse team and a matrix structure serving multiple stakeholders across MTS and the wider Mastercard organization. This high-profile role demands excellent, clear, and articulate communication skills and the ability to influence senior-level stakeholders convincingly. MTS is poised for further expansion and now requires a seasoned European MLRO and CO to elevate the MTS EU control framework.
Key Responsibilities
* Report and work closely with the MTS Chief Compliance Officer to determine the effectiveness of the Compliance Program and its ability to identify, detect, deter, and report suspicious activity.
* Review laws and regulations that impact the MTS compliance requirements, with emphasis on the EU AML Directives and EU Sanctions requirements.
* Undertake comprehensive risk assessments to determine AML/CFT/Sanctions and other risk exposures through collaboration with other functions to develop mitigating controls as required.
* Maintain compliance policies, programs, and procedures to ensure ongoing review by the MTS EU Board of Directors as necessary.
* Ensure all staff, up to and including the Board, are adequately trained in the AML/CFT/Sanctions, and other relevant regulations.
* Disseminate information, answer questions, and serve as a subject matter expert for MTS on Compliance related issues.
* Lead MTS EU regulatory examinations and audits, including gathering requested information and developing and coordinating responses to such reviews as necessary.
* Support the business in an advisory capacity, manage customer due diligence escalations, and where necessary, enhanced due diligence of customer relationships to determine risk and mitigating controls.
* Review regulatory findings against other financial institutions for lessons learned, share with the Board, and complete gap analysis against MTS Compliance program as necessary.
* Contribute, as a key member of the Compliance leadership team, to the development and implementation of the wider compliance strategy, including staffing.
* Manage and oversee the Open Banking Settlement Solution project and ensure MTS is meeting the business and regulatory requirements for the Open Banking product.
* Collaborate with Legal, Regulatory, Compliance, and Product/Shared Services, as well as the wider business, on strategic cross-functional implementation and improvement activities.
Qualifications
* Excellent written and oral communication skills for documentation, reports, and presentations
* Working knowledge of a regulated environment
* Capable of process identification and mapping
* Working knowledge of SharePoint development
* Digitally aware and experienced with process improvement, automation of manual processes, and use of technology to generate efficiencies and scalable outcomes
* Highly competent in the use of MS Office tools (PowerPoint, Excel, Visio)
* Confident communication skills (English is a must but also French and/or Dutch) with the ability to deliver consistent messages to all levels of the company
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.
R-246826
Seniority level
* Seniority level
Director
Employment type
* Employment type
Full-time
Job function
* Job function
Legal
* Industries
Financial Services, IT Services and IT Consulting, and Technology, Information and Internet
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