MasterCard Senior Legal Counsel in Copenhagen, Denmark
We work to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. We cultivate a culture of inclusion (https://www.mastercard.us/en-us/vision/who-we-are/diversity-inclusion.html) for all employees that respects their individual strengths, views, and experiences. We believe that our differences enable us to be a better team – one that makes better decisions, drives innovation and delivers better business results.
Senior Legal Counsel
Mastercard’s Global Regulatory Team is looking for a senior counsel to support the strategic development and implementation of regulatory culture in Mastercard’s recent acquisition of the Danish open banking company AiiA, and the integration and growth of AiiA in the existing open banking business of Mastercard. This role is based in Denmark. It will report to Senior Managing Counsel responsible for global open banking leadership within the Global Regulatory Affairs team, who is based in Belgium. 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.
Essential responsibilities in this role include:
• Ensuring that Mastercard’s open banking business, which, through the acquisition of AiiA, holds PISP and AISP licenses in Denmark, is compliant with all relevant legal and regulatory requirements.
• Providing expert regulatory leadership, in particular, by building out and maintaining strong relationships with key regulators.
• Building and maintaining a strong working knowledge of laws and regulatory themes relating to payment services in Denmark and other European countries, in particular, on access to account provisions under the revised EU Payment Services Directive (PSD2), AML and broader corporate compliance requirements for regulated financial entities.
• Performing regulatory scans of new Mastercard open banking products and services in Denmark and, with the assistance of external counsels, also in other European countries.
• Supporting management of regulatory risks resulting from provision of open banking services.
• Supporting Regulatory Compliance team by identifying regulatory obligations, including regulatory reporting.
• Advising on competition law strategy and compliance.
• Monitoring and reviewing legislative proposals that may have an impact on Mastercard’s open banking business in Denmark and elsewhere in Europe and work with Public Policy to ensure that Mastercard’s voice is heard during legislative processes.
• Advising on regulatory obligations resulting from the fact that AiiA, as a regulated PISP/AISP provider in Denmark, constitutes part of Mastercard group, including on intra-group outsourcing.
• Managing outside counsel on relevant regulatory matters.
• Working cross-functionally with his/her colleagues from other teams, including Regulatory Compliance, Legal Counsel, Public Policy, Privacy/Data Usage, Global Ethics and Compliance and Internal Audit.
All About You
The successful candidate must have the following knowledge, skills and experience:
• Fluent in Danish and English (written and spoken).
• Graduate of an established and reputable university, a law degree complemented with a Masters (LLM) in commercial or international law being preferred.
• Qualified lawyer with mid-level experience and track record of success in legal practice in fields drawn from technology, finance, corporate, commercial and competition law. Experience in regulatory advice for an authorized payment services provider in Denmark, in particular, in relation to open banking will be considered as an advantage.
• Solid knowledge of Danish financial services regulations, in particular, open banking, and broader corporate compliance requirements for regulated financial entities.
• Ability to interpret regulations and guidance to assess the impact and develop practical solutions compliant with the relevant laws.
• Solid knowledge of innovative technologies relating to open banking and payment services, including digital and new payments solutions and platforms.
• Strong business acumen and solutions orientated to ensure that the business makes informed risk-based decisions regarding new opportunities, markets, local initiatives and product and service offerings.
• Strong analytic capabilities and excellent written and verbal communication skills combined with ability to communicate complex regulatory issues in simple and concise terms.
• Ability to work on complex issues of significant importance, to juggle substantial competing demands and adapt to evolving priorities.
• Good interpersonal skills with ability to work well in both team and individual settings.
• Motivation and will to develop.
We value the safety of each member of our community because we know we’re all in this together. In many locations, which may change over time, we’ve implemented a virtual hiring process and continue to interview candidates by video or phone. In addition, in some locations, only individuals who have been fully vaccinated will be permitted inside Mastercard offices until further notice.
In the US, Mastercard is a government contractor, which may legally require most Mastercard employees to be vaccinated unless a verified approved medical or religious exemption is granted. Further, we are currently making every effort towards having employees return to work in the office 2 days per week, if that makes sense for their team. Everyone must be vaccinated to enter Mastercard offices at this time. Therefore, we expect all candidates to be vaccinated or to be approved for a medical or religious accommodation prior to commencing work at Mastercard.
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.
Requisition ID: R-151661