ROLE DESCRIPTION
Mastercard’s Global Regulatory Team is looking for a Senior Counsel to facilitate the strategic development of Mastercard’s open banking business in Europe. The focus of this role is to support Mastercard Open Banking Services EU (MCOBS EU) and Mastercard Open Banking Services UK (MCOBS UK).
The role will report to Senior Managing Counsel responsible for global open banking leadership within the Global Regulatory Affairs team. It will focus on supporting the open banking business team and management in implementation of Mastercard’s open banking strategy in Europe. The ideal candidate 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 Mastercard remains compliant with existing regulatory obligations, reacts to regulatory threats and opportunities and maintains good working relationships with key regulators.
The successful candidate will be part of a global group of legal and regulatory specialists who between them cover Mastercard’s regulatory affairs in 210+ countries and territories under the leadership of Mastercard’s General Counsel, Regulatory Affairs.
As Senior Counsel you will be physically located with the Mastercard open banking team in the greater Copenhagen area, Denmark, and report to the Senior Managing Counsel responsible for global open banking leadership within the Global Regulatory Affairs team, who is based in Belgium.
LEGAL TEAM
Mastercard’s Global Regulatory Team consists of 70+ legal and regulatory specialists spread across 17 jurisdictions who between them cover Mastercard’s regulatory affairs in 210+ countries and territories under the leadership of Mastercard’s General Counsel, Regulatory Affairs.
AREAS OF RESPONSIBILITY
As Senior Counsel – Regulatory Affairs at Mastercard you will be responsible for:
- Ensuring that MCOBS EU, and, with the assistance of UK Regulatory Affairs Team members, MCOBS UK, are compliant with all relevant legal and regulatory requirements, including PIS/AIS regulatory licensing requirements, DORA and AML compliance.
- Advising MCOBS EU and, with the assistance of UK regulatory team members, MCOBS UK on supervision and regulatory examinations by DFSA and FCA respectively.
- Providing expert regulatory leadership by building out and maintaining strong relationships with key regulators, particularly the DFSA.
- Building and maintaining a strong working knowledge of laws and regulatory themes relating to payment services in Denmark, the UK and other European countries, in particular, on access to account provisions under the revised EU PSD2, AML and broader corporate compliance requirements for regulated financial entities.
- Performing regulatory analysis of new Mastercard open banking products and services in Denmark and the UK and, with the assistance of external counsels, also in other European countries.
- Monitoring, reviewing and providing thought leadership on legislative proposals that may have an impact on Mastercard’s open banking business in Denmark, the UK and elsewhere in Europe. Working with Public Policy to ensure that Mastercard’s voice is heard during legislative processes. Advising internal stakeholders on anticipated impact to regulatory compliance obligations.
- Managing outside counsel on relevant regulatory matters.
- Working cross-functionally with colleagues from other teams, including Regulatory Compliance, Legal Counsel, Public Policy, Privacy/Data Usage, Global Ethics and Compliance and Internal Audit. Supporting the Regulatory Compliance team by identifying regulatory obligations, including regulatory reporting, and effectively communicate complex legal concepts to legal and business executives and product owners in a clear and understandable manner.
REPORTING AND TITLE
Reporting to: Senior Managing Counsel, Kristaps Sikora, Belgium
Title: Senior Counsel
IDEAL EXPERIENCE
Education: Qualified lawyer (cand.jur. or cand.merc.jur.) with mid-level experience and solid legal foundation within relevant legal areas including commercial, IT, financial and/or international law.
Financial regulations: Solid knowledge of Danish financial services regulations, broader corporate compliance requirements for regulated financial entities, and regulatory themes relating to payment services in Denmark and other European countries, in particular PSD2 and AML. Ideally you also have experience in engaging with the DFSA.
FinTech / Open banking: Experience with advising authorized payment service providers in Denmark. Ideally but not necessarily in relation to open banking. Knowledge of innovative technologies relating to open banking and payment services, including digital and new payments solutions and platforms is a great advantage.
Language skills: Fluent in Danish and English (both written and spoken).
Business Acumen: Strong business acumen and solution orientated to ensure that a business makes informed risk-based decisions regarding new opportunities, markets, local initiatives and product and service offerings.
PERSONAL CAPABILITIES
Team player: Good interpersonal skills with ability to work well in both team and individual settings and to share insights and learnings.
Analytical: Strong analytic capabilities and the ability to work on complex issues of significant importance, to juggle substantial competing demands and adapt to evolving priorities.
Great communicator: Excellent written and verbal communication skills combined with the ability to communicate complex regulatory issues in simple and concise terms.
MASTERCARD’S VALUE PROPOSITION TO YOU
Mastercard offers you the opportunity to become part of a global legal team with a strong professional environment offering best practices, sparring and support, and learning and development opportunities in Denmark and internationally. As a highly modern and international workplace, Mastercard embraces diversity and offers work conditions allowing a great work-life balance.
Mastercard offers you a competitive compensation package with various benefits, including a pensions contribution scheme and a bonus arrangement.
ABOUT MASTERCARD
Mastercard is a global technology company in the payments industry with a mission to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions secure, simple, smart and accessible. By using secure data and networks, partnerships and passion, Mastercard’s innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential.
As a global leader in digital payment solutions and technology Mastercard connects billions of consumers, shops, businesses, municipalities and public services from around the world. With connections across more than 210 countries and territories, Mastercard is building a sustainable world that unlocks priceless possibilities for all.
In November 2021 Mastercard completed its acquisition of Danish fintech company Aiia (now Mastercard Open Banking Services EU (MOBS EU)) in a step to expand its existing open banking technology and proven data practices and reinforce its progress in building a stronger global open data network. Following the integration of Aiia’s activities into Mastercard’s open banking business in Europe, Mastercard has strengthened its position as a leader in digital payments choices. Mastercard continues its pursuit of innovation and drives a range of projects to further develop its leading digital solutions, e.g. within AI, digital crypto etc.
Mastercard Open Banking Services EU (MOBS EU) is a licensed Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP) operating under the supervision of the Danish Financial Supervisory Authority (FSA) in Denmark. Mastercard Open Banking Services UK (MOBS UK) holds corresponding PISP/AISP licenses in the UK.
Learn more about Mastercard at https://openbankingeu.mastercard.com/.
APPLICATION AND CONTACT
If you believe this position is a good fit for you, we look forward to receiving your application. Please attach your CV and any relevant documentation. Should you have any questions regarding the position, please don’t hesitate to contact Camilla Krogh at (+45 51261264) or Mikkel Falkenberg at (+45 29993065) from the team at RESOLVA.
