Counsel, Regulatory Affairs Apply locations: St. Leonards, Australia
Time type: Full time
Posted on: Posted 4 Days Ago
Time left to apply: End Date: November 22, 2024 (23 days left to apply)
Our Purpose 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.
Title and Summary Counsel, Regulatory Affairs Overview: Mastercard's Global Regulatory team supports business strategy by managing regulatory compliance requirements for the purpose of mitigating the impact of regulation on the company's profitability and growth potential. This position will play a key role in supporting Mastercard's Open Banking business objectives in Australia. It will involve advising on regulatory requirements and impact of such requirements on the business strategy, strategic development and implementation of regulatory infrastructure and the compilation of regulatory submissions.
This is a legal position with additional regulatory compliance responsibilities to be performed in co-ordination with the regulatory compliance lead. It will report to the Senior Managing Counsel, Regulatory Affairs, global lead for Open Banking, based in Waterloo (Belgium), and will work closely with Mastercard's wider legal team based in Australia. This position is part of the Global Regulatory team within Legal and Global Affairs.
The Role The employee will be responsible for providing legal regulatory support for the growth of Mastercard's Open Banking business in Australia. The successful candidate will support all regulatory activities for Mastercard's Open Banking operations in Australia, including advising on the existing regulatory requirements and shaping further development of the Open Banking regulatory framework.
This includes strengthening, extending and sustaining a successful regulatory program particularly in relation to the Open Banking business in Australia. Relevant to this will be regulatory oversight and supervision in Australia and how this also fits with broader regulation of the Mastercard business.
The successful candidate will work cross-functionally with his / her Mastercard colleagues within Australia and within the global structure including, Regulatory Affairs, Legal, Human Resources, Finance, Public Policy, Privacy/Data Usage, Global Ethics and Compliance and Internal Audit.
Key Accountabilities of the Role Support the growth of Mastercard's Open Banking business in Australia. Provide guidance and thought leadership on regulatory requirements applicable to Mastercard's Open Banking business (in particular, CDR) and act as single point of contact for Open Banking regulatory enquiries. Effectively communicate complex legal concepts to legal and business executives, product owners and functional stakeholders (such as compliance) in a clear and understandable manner. Engage with business and legal stakeholders to conduct product reviews for new Open Banking products and service to ensure the product is being designed to comply with all applicable regulations. Support further development of the Open Banking regulatory framework in Australia by, for example, shaping Mastercard's position in consultations and reviews. Manage reporting obligations to the regulator in respect of supervised business. Oversee execution of regulatory compliance processes and controls related to Open Banking business in Australia. Support the use of the global regulatory compliance tools and framework. Preparation of submissions and returns to regulators ensuring accuracy and completeness and submission in line with required deadlines. Ensure management is adequately trained on applicable compliance requirements, regulations, and responsibilities for internal controls. Assist in the gathering of internal information in response to regulatory requests. Key Competencies Graduate of an established and reputable university with a law degree. Legal qualification to practice law in Australia, or demonstrated experience and quality training of at least five years at a company with a significant legal department. Knowledge of and understanding of payment services regulations and experience of compliance requirements in respect of banking/payment services activities/digital payment services. Previous experience in Open Banking will be considered as an advantage. Ability to understand regulations and regulatory guidance, assess the impact and advise on most optimal ways to ensure ongoing compliance. Track record of interaction with or support of interaction with regulators. Experience of executing regulatory compliance programs, including design, implementation, and oversight of controls will be considered as an advantage, but is not considered mandatory. Must demonstrate a proactive, time sensitive, results driven approach in carrying out all duties, obligations and responsibilities. A self-starter, critical problem-solving ability with project management skills. Flexibility and ability to work in a matrix environment. Strong written and verbal communication skills. Attention to detail. 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. About Us 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. Small businesses are virtual; we give them access to a world of buyers.
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