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Mastercard’s global Regulatory organisation is looking for a Senior Counsel to join its Europe team, reporting to the Assistant General Counsel, Regulatory for Europe. The role will have lead responsibility for managing Mastercard’s oversight as a Systemically Important Payment System (SIPS) in Europe and a Recognised Payment System in the UK. It will be responsible for advising on the oversight requirements and related impacts across multiple areas of the business. The role is a legal, rather than a compliance role, but will work very closely with Mastercard’s regulatory compliance team on all aspects of oversight. In addition, the role will be involved in a number of other important regulatory issues across in Europe, including critical infrastructure designation, treasury/settlement issues, tax and technology modernisation.
Job Responsibility:
Provides advice and guidance on the SIPS Regulation, the PISA oversight framework and various Bank of England Codes and supervisory statements
Providing legal/regulatory advice to business stakeholders on the impact of oversight requirements on product development and technology and contributing subject matter expertise with respect to operational requirements, policies and procedures
In partnership with Compliance, engaging with the European Central Bank, National Bank of Belgium and Bank of England on oversight issues, as well as advocating and defending Mastercard’s position or approach
Assessing the impact of external regulatory initiatives on Mastercard, working across the business to develop positioning and drafting relevant consultation responses
Acting as a liaison to business and/or functional departments in connection with regulatory engagements including regulatory examinations, meetings and other interactions
Managing external counsel as necessary, and reviewing and analysing regulatory advice for advancing strategic initiatives
Requirements:
A lawyer qualified to practice within the Europe region, with mid-level experience
Ideally to have included time working in-house within a retail bank, regulated payments business or central bank/relevant regulator
A strong understanding of systemic importance / prudential regulation, combined with the role of Financial Market Infrastructures within the payments ecosystem
Solid understanding of relevant Europe payments regulation and the broader regulatory and policy landscape
Excellent written and verbal communication skills, combined with an ability to communicate complex regulatory issues in simple and concise terms
Must demonstrate a proactive, time sensitive, results driven approach in carrying out all duties, obligations and responsibilities
Experience of operating within a multi-faceted organisation working closely with a variety of teams – legal, public policy, communications, commercial, finance etc
Self-starter / motivated to work independently and as an effective team member
A strong commercial awareness, risk-based approach and “yes, if” attitude to providing regulatory advice
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