Director, 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
Director, Legal Compliance
Job Description - Director, FinCrime & MLRO, Open Finance
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
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 this is supported by account-based data insights and consulting to help our clients optimise their payment strategies across the world. The Open Finance team is looking to expand its product offering on a global basis.
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 Director, FinCrime & MLRO, Open Finance will be responsible for leading, strengthening, extending and sustaining a successful compliance program for the Open Finance business in the UK. The role will provide expert compliance leadership and direction in order to identify and implement best practices in compliance and risk. The successful candidate will work cross-functionally with colleagues including, Product, Regulatory Affairs, Legal Counsel, Privacy/Data Usage, Risk & Control, Global Ethics and Compliance and Internal Audit.
Key Role Responsibilities
• Member of the Open Finance Compliance and Risk function globally.• As the Director for FinCrime and MLRO, be responsible for the Mastercard Open Banking Services [MCOBS] AML and sanctions program in the UK as well as have accountability for FinCrime preventive control domains across MCOBS.• The role holder will have the required experience to act as the MLRO. • Oversee execution of compliance processes and controls within the Open Finance business relating to FinCrime broadly across; AML, Sanctions, Fraud with additional domain responsibilities within Export Controls, Anti-Corruption and Ethics.• Lead/oversee KYC and Due Diligence procedures to ensure MCOBS has a consistently strong insight into our client portfolio• Continuously review and advise the business on updated onboarding procedures to ensure KYC and Due Diligence is done in line with policies and regulatory requirements with a view to minimal customer friction and efficient onboarding.• Manage and evolve the global Open Finance AML program in line with global best practice and regulator expectations. • Strengthen the compliance infrastructure within the Open Finance business to ensure the business makes informed risk-based decisions regarding new opportunities, markets, local initiatives and product and service offerings and that appropriate compliance processes and controls are developed, documented and implemented. • Conduct regular compliance gap analysis of internal controls to ensure compliance with various applicable laws; recommend and implement remedial actions and improvements.• Update and maintain relevant compliance policies and departmental procedures. • Review and assess new business projects and design of AML related controls to ensure adherence to company policy and procedures; delivery appropriate solutions to ensure robust and appropriate compliance controls are implemented.• Produce regular MI for management and other internal stakeholders and present as part of ExCo meetings, Risk Committee etc. as required• Act as an escalation point for compliance queries from other business areas. • Provide compliance guidance and act as a role model for proper conduct for other business areas.• Develop relationships with product development, business, sales and senior management within Mastercard's Open Finance business.
Please note that roles within Mastercard evolve with the needs of the business and department. Therefore, the above is a guideline and by no means comprehensive.
Location
This role is based in UK.
All About You
• Experience managing compliance programmes within an authorised payments institution or financial institution setting. • Knowledge of Anti-Money Laundering and Payment Services Regulations. • Ability to interpret regulations and guidance in order to assess the impact and develop practical operational procedures to ensure ongoing compliance. • Experience executing compliance programs, including design, implementation and oversight of controls.• Self-starter who is flexible and able to work in a matrixed environment.• Strong business acumen and solutions orientated.• Ability to demonstrate thought leadership.• Must be able to work on complex issues of significant importance.• Ability to juggle substantial competing demands and adapt to evolving priorities a must.• Strong written and verbal communication skills.• Attention to detail is critical.• Knowledge and experience of Open Banking products would be beneficial.• Formal Compliance certification, e.g. ACAMs or ICA or industry equivalent would be highly desirable.
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.