MasterCard Director, Risk Management in Shanghai, China
Who is Mastercard?
We are the global technology company behind the world’s fastest payments processing network. We are a vehicle for commerce, a connection to financial systems for the previously excluded, a technology innovation lab, and the home of Priceless at https://www.priceless.com/ ®. We ensure every employee has the opportunity to be a part of something bigger and to change lives. We believe as our company grows, so should you. We believe in connecting everyone to endless, priceless possibilities.
Director, Risk Management
The “Company” will implement a risk governance structure, risk management policies, procedures and controls for its operations in China to provide a robust and repeatable process for the identification, assessment, management, and reporting of risks. The Company’s Risk Management Framework will be tailored to comply with the China regulations to ensure the operations are performed in a secured, stable, and efficient manner.
• Are you a risk management professional who would like to adapt and build upon your experience for a global technology company?
• Do you enjoy collaborating with senior executives across ta company to identify risk management needs and design, develop and implement risk management programs in support of a dynamic, evolving business?
• Do you have experience leveraging the value that risk management brings to the business and help drive better decision-making?
• Are you regularly thinking of what can happen in the future and assessing potential impact to achieving company objectives?
The Director Risk will support the Chief Risk Officer (CRO) in overseeing an integrated, comprehensive assessment of the risks that the China cards business is exposed to, and helps develop an objective and consistent approach to managing them. The CRO and the Director Risk will establish a risk management program with effective risk governance, best practices in risk management, and strong partnerships across the company.
The Risk function consisting of the CRO and Director Risk oversees the risk management of the Company and is therefore independent from the business functions. The function is responsible for:
• Establishing, revising, and implementing the risk governance framework;
• Consolidating/ reporting enterprise risks to management and to the Board;
• Fulfilling relevant reporting requirements to regulators in China;
• Providing risk insights to the Company’s strategy and strategic planning;
• Influencing management of risk by providing guidance to, and alignment of, the risk management functions;
• Helping establish the Risk Appetite Statement and the Company’s policies and procedures to ensure they meet local and business needs and requirements;
• Influencing budget and resourcing for strategic or shared risk response plans; and
• Managing key risk processes particularly related to Operational Risk & Enterprise Risk.
• Develop and maintain the company’s risk framework :
o Establish and maintain effective risk governance formalized in a comprehensive set of risk policies and procedures;
o Support the CRO in defining and periodically updating the company’s risk taxonomy;
o Support development and revision of the company’s risk appetite, and support CRO in periodically reviewing it with Board for approval; and
o Drive alignment and coordination across risk management areas (2nd line of defense) to maximize effectiveness and efficiency of risk management program.
• Risk Identification, Monitoring and Reporting:
o Lead company risk assessment and periodic monitoring
o Participate in business strategy, budgeting, and planning exercises, and ensure that risk considerations are incorporated
o Prepare periodic risk updates for the Board and management, and promptly escalate significant risk issues and incidents, when required
o Drive consistent implementation of company-wide risk ownership roles, responsibilities, and expectations
o Develop and implement strategy to identify and respond to end-to-end enterprise wide risks
o Lead the risk aggregation and consolidation process to support a holistic and comprehensive response to risks
o Establish and periodically monitor risk metrics, tolerances and limits
o Monitor the progress of risk mitigation activities
o Coordinate and support Risk Committee meetings; plan agenda; maintain minutes and track actions arising
o Manage other key Operational Risk functions like maintaining loss database, coordinating Risk assessments , maintaining and tracking KRI’s, and participating in Business Continuity and Disaster Recovery planning in coordination with Corporate Security and other functions
o Interface with Audit function to proactively discuss and manage self-identified Risks and work with Audit and Business to remediate audit issues and prioritize actions
o Maintain a comprehensive Risk Log for the Company
o Perform Risk Training as required from time to time both internally and at times externally to Customers, Third Parties, Vendors, etc.
All About You
• Proven risk management experience in a major Financial Institution/ global company in payments.
• People management experience of having managed a team of Risk analysts
• Strong risk management knowledge and experience (e.g., enterprise, operational, technology, Credit) with a focus on Operational Risk
• Good knowledge of Card issuance and Acquiring Fraud in the China market context and ability to run the Fraud Operations function would be desirable
• Strong interpersonal skills and ability to influence at all levels of management with experience in partnering with executive team
• Articulate and highly effective communicator
• Develops strong relationships across risk management and cross-functionally
• Understands and appreciates diverse backgrounds
• Demonstrates strong ethics
• Comprehensive knowledge of the payments industry and products, competitive environment, consumer trends, and economic environment
• Strong analytic skills and deep understanding of China card and payments business
• Demonstrated success in applying risk management to support the business/ strategy in different environment and economic cycles
• Education should include analytical/technical fields as engineering, mathematics, statistics, economics, business administration
• Demonstrated success in managing regulatory engagement and has strong knowledge of the applicable laws and regulations in the payments industry in China
Mastercard is an inclusive Equal Employment Opportunity employer that considers applicants without regard to gender, gender identity, sexual orientation, race, ethnicity, disabled or veteran status, or any other characteristic protected by law.
Everyone wants easier ways to pay;
we invent them.
Checkout lines are slow;
we speed them along.
Merchants want more sales;
we give them data and insights.
People need financial access;
we connect them.
Corporate purchasing is complicated;
we make it simple.
Commuters are busy;
we speed them on their way.
Governments need greater efficiencies;
we help create them.
Small businesses are virtual;
we give them access to a world of buyers.
Retailers want to fight fraud;
we provide the tools.
Requisition ID: R-69212