Director, Settlement Operations Risks & Controls

Mastercard•O'fallon, MO

3d•$142,000 - $234,000•Onsite

About The Position

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. The Treasury function at Mastercard is responsible for safeguarding and optimizing the company’s financial resources globally. Within Treasury, the Global Settlement Operations team manages the movement of funds related to Mastercard transactions and ensures operational excellence across all settlement activities. The team facilitates settlement of ~$25 billion daily activity in 80+ currencies via round the clock support in India, Poland, USA and Colombia. This Director, Settlement Operations Risks & Controls role will be responsible for shaping and maintaining a resilient global settlement environment, ensuring operational stability and driving continuous improvements across all MA settlement products, processes, and internal controls. This individual will collaborate with Operational teams and process owners responsible for Settlement to identify process gaps, inefficiencies and emerging risks.

Requirements

Educational qualification: Bachelor's degree required. Master's degree preferred.
Global experience in multiple, major markets/countries, Mastercard experience a plus.
Strong strategic mindset and problem-solving skills combined with the ability to initiate and implement the needed changes to achieve business unit /corporate objectives.
Executive presence, strong communication and interpersonal skills, including the ability to lead, work with and influence people across a matrix organization at all levels.
Hands-on experience in identifying operational risks across payment operations, including process design, control testing effectiveness, issue management and system dependencies.
Experience supporting risk forums through quality materials, action tracking, escalation and evidence-based review of payments and settlements-related risks, issues and events.
Deep knowledge of global large value payment trends, practices, and systems.
Knowledge of large value payment systems is critical and knowledge of domestic small value payment clearing systems is helpful.
Demonstrated thought leadership.
Demonstrated ability to manage a large and diverse team with varying skillsets, and to effectively delegate and hold accountable.
Demonstrated ability to multi-task and prioritize multiple objectives.
Solid bank / payment industry operational experience.
Strong project management skills and high-level of customer focus.
Management style that is proactive towards employee development and high-performance teams.

Nice To Haves

Master's degree preferred.
Mastercard experience a plus.
knowledge of domestic small value payment clearing systems is helpful.

Responsibilities

Review internal Settlement processes in collaboration with process owners to identify control gaps, inefficiencies and emerging risks.
Act as a trusted operational risk advisor to First Line Process Owners and recommend creation of new process controls to mitigate residual operational risks.
Define Key Risk Indicators (KRIs) and thresholds for proactively identifying and reporting operational risks in processes owned by Global Settlement Operations.
Lead and coordinate internal and external audit exercises across Settlement and ensure SOX and SOC1 compliance.
Manage Mastercard’s alternate settlement bank process globally by ensuring proper planning and coordination with relevant teams and executing and reporting results to senior management.
Establish and maintain policies and procedures supporting settlement, including the annual refresh of settlement procedures.
Ensure compliance with internal Treasury Policies and document exceptions to provide leadership visibility.
Coordinate and oversee bank administrative activities with support of internal teams, including KYC, signer maintenance and quarterly bank rationalization.
Ensure risk events are documented and work with internal partners to propose and lead process improvements to mitigate financial risk.
Establish cadence with Second Line Process Owners to enhance Mastercard Internal Control environment.
Maintain and refresh business continuity plans for Settlement, including leading periodic contingency exercises with internal partners.
Support the management of banking relationships, including periodic business reviews.
Collaborate with Settlement & Currency Services Product and Technology teams to ensure proper implementation of new products and systems.

Benefits

insurance (including medical, prescription drug, dental, vision, disability, life insurance)
flexible spending account and health savings account
16 weeks of new parent leave
up to 20 days of bereavement leave
80 hours of Paid Sick and Safe Time
25 days of vacation time
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