Manager, Regulatory 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 Manager, Regulatory Compliance Overview The Regulatory team is looking for a Manager, Regulatory Compliance to lead the regulatory compliance program for Mastercard’s Open Finance business in the UK. The primary focus of this role, which is based in London, is to support Mastercard OB Services UK Ltd (MCOBS UK), the subsidiary that holds PIS and AIS regulatory authorization in the UK. The role will also support other Open Finance regulatory compliance needs across Europe and other regions to ensure alignment with Mastercard’s Global Open Finance strategy. The role will report to Director, Regulatory Compliance responsible for global Open Finance leadership within the Global Regulatory team. It requires registration with the Financial Conduct Authority (FCA) as an Approved Person for MCOBS UK. The ideal candidate is a regulatory compliance champion with deep experience in building and supporting regulatory compliance management programs and a background in payments and financial technology. He/she will have the ability to think and act both strategically and tactically with respect to the needs of business clients and their objectives, while ensuring that the corporation remains compliant with regulatory requirements pertaining to our open banking activities. Role Responsible for ensuring MCOBS UK complies with the Payment Services Regulations 2017 (PSRs), regulatory reporting, compliance monitoring and oversight with the PSRs and FCA requirements, including but not limited to Consumer Duty and Operational Resilience requirements. Act as primary contact for the FCA and manage FCA regulatory obligations for AIS and PIS activities, including timely submission of required filings, notifications, and major incident reports for MCOBS UK. Conduct fit & proper checks and suitability assessments for MCOBS UK. Oversee the development and implementation of compliance management policies and controls to effectively manage the regulatory risks related to operating Open Finance platforms, products and services. Conduct compliance monitoring and risk assessments, providing periodic compliance reports to senior management. Manage remediation efforts. Produce and maintain relevant regulatory compliance policies and departmental procedures. Coordinate regulatory examinations and manage responses. Ensure management is adequately trained on applicable compliance requirements, regulations, and responsibilities for internal controls. Where necessary, identify, document and update a range of stakeholders including executives on identified regulatory compliance gaps and recommend remedial measures. Support the use of the global regulatory compliance tools and regulatory framework, and provide support for horizon scanning, regulatory change management, and maintenance of regulatory inventories. Work with Open Finance business to make informed risk-based decisions regarding new opportunities, markets, local initiatives and product and service offerings and ensure that appropriate compliance processes and controls are developed, documented, implemented and maintained. Review and assess new business projects and design compliance controls to ensure adherence to Open Finance policy and procedures; deliver appropriate solutions to ensure that robust and appropriate compliance controls are implemented. Work with Senior Counsel supporting UK Open Finance business to identify applicable changes to UK financial services regulation including guidelines and best practices issued by regulators. Collaborate with Global Regulatory Compliance teams to ensure consistency and alignment across jurisdictions. About you Bachelor’s Degree required, Master’s considered an advantage Good understanding of core pillars of effective regulatory compliance programmes and experience executing regulatory compliance programs, including design, implementation, and oversight of controls Experience maintaining regulatory status with periodic filings and event-driven filings such as change of control and change of information 3 – 5 years of experience with payment regulations in the UK and compliance requirements in respect of banking/payment services Specific knowledge and experience with PISP and/or AISP requirements would be considered an asset Ability to understand regulations and regulatory guidance, assess the impact and develop practical operational procedures to ensure ongoing compliance Track record of direct interaction with or close support of interaction with the FCA An understanding of the financial industry in general, accompanied by an ability to acquire a deep understanding of Mastercard products and services in this space Must demonstrate a proactive, time sensitive, results driven approach in carrying out all duties, obligations and responsibilities Creative thinker able to support innovation while still managing risk A self-starter, critical problem-solving ability with project management skills Strong written and verbal communication skills Exceptional interpersonal skills with proven experience in relationship building and partnering with legal, business, and technical colleagues Ability to motivate and influence highly skilled professionals to achieve major organizational goals 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.