Vice President of Legal Compliance, Mastercard
Bank Secrecy Act Officer
Office located in Purchase, New York
Global payments technology company
Be an early applicant
Global payments technology company
1001+ employees
Be an early applicant
Office located in Purchase, New York
1001+ employees
Company mission
To connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible.
Role
Who you are
- The ideal candidate is passionate about the customer experience journey, highly motivated, intellectually curious, analytical, and possesses an entrepreneurial mindset
- This is a high-profile role that requires excellent, clear and articulate communication skills and the ability to influence senior level stakeholders in a convincing manner
- Ideally, you will already have served as a BSA Officer in the US for a Bank, E-money firm, MSB or Payment Institution
- However, if you have never served, the important factor is having a deep operational understanding of the Bank Secrecy Act and the US Patriot Act, including how to apply the regulations in a practical manner to the development, implementation and operation of a robust compliance framework including risk assessment, policy development, Board reporting and interaction, controls testing, training development and roll out, and audit co-ordination
What the job involves
- MTS is looking for a Bank Secrecy Act (BSA) Officer to drive our customer experience strategy forward by consistently innovating and problem-solving
- MTS US serves customers based in the USA, and also a number of other countries around the world
- The role will require you to work as part of a geographically diverse team and as part of a matrix structure serving a few stakeholders across MTS and the wider Mastercard organisation
- MTS is poised for further expansion and now requires a seasoned BSA Officer to take the BSA control framework to the next level
- Reports and works closely with the MTS Chief Compliance Officer to determine the effectiveness of the Compliance Program and its ability to identify, detect, deter and report suspicious activity
- Review laws and regulations that impact the MTS compliance requirements, with emphasis on Bank Secrecy Act (BSA/AML), USA Patriot Act, and OFAC
- Undertake comprehensive risk assessments to determine BSA/AML and other risk exposures through collaboration with other functions to develop mitigating controls as required
- Maintain compliance policies, programs, and procedures current and ensure annual review by the Board of Directors as necessary
- Ensure all staff up to and including the Board are adequately trained in the Bank Secrecy Act, Patriot Act and other relevant legislation
- Disseminate information, answer questions, and be a subject matter expert for MTS on BSA/AML/OFAC-related issues
- Lead MTS US regulatory examinations and audits, including gathering requested information and developing and coordinating responses to such reviews as necessary
- In some instances, you will be asked to conduct customer due diligence and where necessary enhanced due diligence of customer relationships to determine risk and mitigating controls
- Review regulatory findings against other financial institutions for lessons learned, share with the Board and complete gap analysis against MTS as necessary
- Contribute, as a key member of the Compliance leadership team, to the development and implementation of the wider compliance strategy including Staffing
- At an operational level, you will be asked to assess higher risk customers, and if necessary, conduct on site reviews and implementing efficient and effective controls to be applied to minimize the risk to the business
- As the face of the Compliance function, you will be asked to present the compliance requirements in front of Business Development colleagues, counterparties, auditors and regulators
Application process
- NOTE: Candidates go through a thorough screening and interview process
Our take
Mastercard is in the global payments business, and operates the world's fastest payments processing network. Its products and solutions have become central to everyday commerce across the world, in activities ranging from shopping and travelling to running businesses.
As the economy has become more and more digitised, Mastercard has been a leading player in helping businesses and individuals across the globe embrace card payments and digital banking. One of the world's largest companies, its revenue has seen consistent gain in the last 20 years.
The challenge for modern payments companies is that payments are always changing, as seen in the astronomical rise of contactless payments over the last decade. Mastercard's acquisition of blockchain systems, and an overall focus on leveraging its technology towards a digital economy, has placed the company in good stead to keep up to date with current trends, like cryptocurrency, in the digitised payments world.
Steph
Company Specialist at Welcome to the Jungle
Insights
Company
Company benefits
- Gym membership
- Share purchase options
- Extra holiday purchase optional
- Work from home opportunities
- Health insurance
Company values
- Trust - integrity, respect, openness
- Agility - urgency and value through innovation
- Partnership - working as one team for the benefit of all
- Initiative - taking bold and thoughtful actions
Company HQ
Purchase, Harrison, NY
Articles
Leadership
Michael Miebach
(CEO, not founder)Has served in a variety of roles at the company, including President and CPO. Currently Board Member at IBM, Accion, the World Resources Institute, the US-India Strategic Partnership Forum, and the Metropolitan Opera. They are also a Trustee of USCIB.
People progressing
Joined as VP in 2008, promoted 4 times in 11 years to their current position of Executive Vice President.
Salary benchmarks
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