Manager, Risk & Compliance - Consumer Compliance and AML -Open Banking

MasterCard•Salt Lake City, UT

69d

About The Position

The Services team and solutions fuel growth for partners globally by providing cutting edge services in the areas of Customer Acquisition and Engagement, Security Solutions, Business and Market Insights, and Open Banking. Focused on thinking big and scaling fast, our agile sales team is responsible for end-to-end solutions for a diverse global customer base including retailers, airlines, hotels, tourism agencies, public sector entities, restaurants, consumer goods and telecom companies. 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 Banking 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 optimize their payment strategies across the world. The Open Banking team is looking to expand its product offerings 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 Compliance Manager, Open Banking, Risk and Compliance, will be responsible for supporting our Consumer products, Consumer Reporting Agency requirements and conducting Anti-Money Laundering (AML) related activities as part of the customer monitoring and investigation process. Working under general supervision of the Director of Compliance, this role will leverage an existing understanding of Consumer Compliance & AML/CFT practices and data analysis skills, including extracting and preparing data, drawing conclusions, performing complex research, assessing risk factors and supporting other strategic compliance activities.

Requirements

Knowledge of Compliance laws, rules, regulations, risks and typologies
Experience in banking or financial operations, payments industry, risk management or compliance related field
Proficiency in consumer regulations required (e.g., FCRA, UDAAP, GLBA, etc.) and BSA/AML/OFAC
Knowledge of Compliance Risk & Controls concepts and functions within financial services
Ability to interpret regulations and guidance to assess impact and develop practical operational procedures to ensure ongoing compliance
Adaptable to unexpected changes in expectations or requirements
Demonstrate a high degree of self-motivation, independence, organization, time management, and attention to detail

Nice To Haves

Knowledge and experience of Open Banking products is a plus
Compliance certification, e.g. CAMS and/or CRCM or industry equivalent preferred

Responsibilities

Align compliance strategy and priorities with Senior Management and Board
Assess Compliance Risk Appetite and advise on appropriate actions to address areas outside of risk appetite through review of risks, controls, MIS and operational dashboards
Partner with Sales, product teams and functional partners to assess consumer financial & AML risks, design and timely implementation of compliance controls
Represent Consumer Compliance on critical regulatory matters. Collaborate with internal partners including Legal, Regulatory, Technology, and others to address compliance issues
Lead investigations of financial crime or breaches of compliance programs and support High risk customer due diligence escalations and risk assessment activities
Lead design, implementation and ongoing operation of compliance systems and tools
Support transaction monitoring systems, including data acquisition, development of new rules, rule optimization, and machine learning integration
Represent Consumer Compliance on critical regulatory matters. Collaborate with internal partners including Legal, Regulatory, Technology, and others to address compliance issues
Drive development of consumer compliance & AML training and guidance materials for internal and external stakeholders and partners
Maintain subject matter expertise and ongoing awareness of requirements of applicable consumer laws and industry best practices (Including but not limited to GLBA, UDAAP, FCRA, AML and other related laws and regulations)

Benefits

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 of new parent leave and up to 20 days of bereavement leave); 80 hours of Paid Sick and Safe Time, 25 days of vacation time and 5 personal days, pro-rated based on date of hire; 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; and many more.
Mastercard benefits for interns generally include: 56 hours of Paid Sick and Safe Time; jury duty leave; and on-site fitness facilities in some locations.

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