Director, LegalplianceOur 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 networksbine to deliver a unique set of products and services that help people, businesses andernments realize their greatest potential.
Title and Summary
Director, Legalpliance
Please note : This role is based in our Peterborough office ( PE7 8FJ), candidates must befortable working from our office 3 days per week .
The Mastercard Prepaid Management Services (MPMS)pliance Team is responsible for ensuring the MPMS business adheres to all regulatory requirements, including Anti-Money Laundering (AML) policies and legislation.
The Director, Legalpliance, reports to the VPpliance, Risk & Fraud and provides direction and support for the implementation and oversight of the businesspliance program, including AML, Sanctions, Treating Customers Fairly and Foreign Account Taxpliance Act (FATCA) globally.
Key Accountabilities
• Deputize for the VP Globalpliance, as required.
• Manage a team of Analysts within EMEAA region.
• Produce, implement and maintainpliance risk assessments, policies and procedures for the following, to ensure they align with relevant legislation, industry guidance and (where applicable) issuer requirements:
o Anti-Money Laundering (AML)
o Customer Due Diligence (CDD) / oversight and review of customer on-boarding processes
o Treating Customers Fairly (TCF)
o Identity theft
o Vulnerable customers
o Politically Exposed Persons (PEP) and Sanctions screening
o Distributor / agent oversight
o Program risk assessments
o Risk control matrix (Harvey Ball risk assessments).
• Understand issuerpliance and AML requirements and develop appropriate program frameworks, to include the identification of system development requirements, operational process changes and resource requirements.
• Manage ongoingpliance relationships with issuers, to include new product initiatives, AML monitoring, Subject Access Request (SAR) reporting, TCF policy review, monthly service calls and other such requests.
• Manage, maintain and develop AML monitoring programs, in line with relevant regulations, industry guidance and issuer requirements, to include the submission ofpulsory transaction reports (where required) and suspicious activity reports.
• Ensure continuous oversight of AML transaction monitoring and PEP & Sanctions screening systems, including configuration and ongoing testing.
• Manage and overview Sanction screening programs for cardholders, in line with relevant regulations, industry guidance and issuer requirements.
• Overview Sanction screening for distributors and corporates in all regions, in line with relevant regulations, industry guidance and issuer requirements.
• Review and assess new business projects and the design ofpliance controls, to ensure adherence topany policy and procedures, and deliver appropriate solutions, so that robust and appropriatepliance controls are implemented to satisfy regulatory and issuer needs.
• Sign-off new market / product launches (as applicable).
• Represent MPMSpliance, in respect of technical change and delivery at PI Planning events.
• Review and sign off collaterals and marketing material (including financial promotions), in line with industry guidance and issuer requirements.
• Manage and overview appropriate training to relevant staff, in line with regulatory and issuer requirements covering:
o AML and Counter-Terrorism Financing (CTF)
o Anti-Bribery & Corruption
o TCF
• Review and update training material, track trainingpletion and escalate nonpletion.
• Continually review departmental processes, procedures and systems, to ensure the most efficient use of resources and the elimination of unnecessary cost.
• Support internal business owners and stakeholders in process improvements related to KYC andpliance requirements.
• Act as escalation point forpliance queries from other business areas.
• Provide regular reporting and MI to VP Globalpliance and escalate issues, as appropriate.
• Manage internal and issuer audits and external independent reviews, to include the provision of documentation (as per agreed scope), responding to queries and implementing improvements.
• Assist with maintaining:
o HMRC Money Service Business (MSB) registration
• Remain up-to-date with industry and regulatory developments, maintain a close relationship with the Globalpliance Team, Regionalpliance Working Groups, MPMS Legal and issuers, and proactively scan the regulatory landscape to ensure an effective and timely response to regulatory changes.
• Assess the impact of regulatory changes and industry guidance on existing AML/CTF, Sanctions, anti-bribery and TCF policies and procedures, and design controls to ensure necessary changes are implemented within MPMSpliance and across other business areas (as appropriate).
• Maintain necessary records, inpliance with applicable regulations and issuer requirements, thereby ensuringplete and accurate data is readily available to internal and external parties.
Core Skills
• Significant experience in a Seniorpliance role, within Financial Services.
• ACAMS/ICA Certified.
• Educated to Bachelor's Degree level (minimum)
• Subject matter expert in AML regulations, including Sanctions in all regions of operation
• Able to interpret regulations and guidance, in order to assess impact and develop practical operational procedures, to ensure ongoingpliance.
• Able to deal with sensitive and confidential information.
• Strongmunication skills (verbal & written) with the ability to engage key stakeholders at all levels.
• Able to build internal and external relationships.
• Analytical and detail focused, with the ability to identify anomalies, trends and make necessary rmendations.
• Able to manage and prioritize multiple tasks topletion and on time.
• Knowledge and understanding of prepaid card / electronic money products.
Corporate Security Responsibility
All activities involving access to Mastercard assets, information, and networkses 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:
1. Abide by Mastercard's security policies and practices;
2. Ensure the confidentiality and integrity of the information being accessed;
3. Report any suspected information security violation or breach, and
Job ID R-249443