Our Purpose
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re helping build a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
Title and Summary
Senior Vice President, Credit Risk
Overview:
Mastercard is currently seeking a Senior Vice President, Credit Risk based in our Purchase, NY HQ. The role, which sits in the second line of defense Risk function, oversees the global credit risk function for Mastercard inclusive of credit approval for large exposures, ownership of Mastercard’s credit policy, development and maintenance of credit risk models and systems, as well as related credit risk assurance activities. This role is global in nature with oversight of Mastercard’s credit exposure across all regions. Mastercard has approximately $90bn in credit exposure to financial institutions and other counterparties worldwide, making credit risk a key part of its evolving and quickly growing business model. The magnitude and strategic nature of this exposure necessitates engagement with executive management, Mastercard’s sales and product organizations, Customer Risk Management, and regulators.
Role:
The primary responsibility of this role is to ensure credit risk is managed within Mastercard’s risk appetite and that risk management practices are executed in accordance with established policies and procedures. This includes, but is not limited to:
- Oversee, maintain and monitor Mastercard’s Credit Risk policy, including delegated credit approval authorities and approved risk mitigation approaches
- Establish and maintain relevant credit standards underpinning the Credit Risk policy, outlining various risk mitigant approaches
- Approve larger customer underwritings in line with authorities established under Mastercard policies and procedures
- Oversee a program of QA over customer underwritings approved under delegated authority provided to the 1LoD (Customer Risk Management team)
- Oversee the 1LoD on the adequacy of risk mitigation approaches to impacts of global credit events and crises
- Partner with 1LoD on engagement and responses to Regulators in markets where Mastercard has direct supervision; advise the 1LoD on adequacy of responses to regulatory findings and queries
- Oversee 1LoD adherence to Mastercard’s Risk Appetite Statement (RAS) and metrics for credit risk. Periodically review and enhance the RAS and metrics to ensure they remain fit for purpose
- Establish a program of periodic review and challenge of credit models supporting the monitoring and measurement of credit risk globally. Enhance Mastercard’s credit risk assessment framework globally and in response to requirements in key markets
- Where relevant, ensure credit risks are identified and assessed for material new product constructs and strategic bets (e.g., M&As) made by the company
- Periodic engagement with key customers / large exposures to ensure robustness of credit risk practices
- Proactively engage and brief Executive Management and the Board, including the Executive Risk Committee and Risk Committee of the Board, on responses to material credit events and exposures
All About You:
-Postgraduate degree in business or equivalent
- Experience in credit risk assessment and financial statement analysis and management is a prerequisite
- Strong experience in the banking sector with deep knowledge of the payments regulatory landscape
- Knowledge of card scheme, settlement and Tech platforms preferred
- Risk mindset: ability to think outside the box and identify potential sources of risk
- Problem solving: ability to develop innovative solutions to manage and address credit risk
- Experience managing a global and diverse team
- Experience engaging with executive management
- Experience and ability to engage with Regulators globally
- Outstanding written and verbal English communication skills
- Strong negotiation and influencing skills, including at C-suite levels
- Demonstrated crisis management capability, leading teams through high pressure situations and making sound decisions with incomplete information.
Mastercard is a merit-based, inclusive, equal 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. We hire the most qualified candidate for the role. In the US or Canada, if you require accommodations or assistance to complete the online application process or during the recruitment process, please contact reasonable_accommodation@mastercard.com and identify the type of accommodation or assistance you are requesting. Do not include any medical or health information in this email. The Reasonable Accommodations team will respond to your email promptly.
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.
In line with Mastercard’s total compensation philosophy and assuming that the job will be performed in the US, the successful candidate will be offered a competitive base salary and may be eligible for an annual bonus or commissions depending on the role. The base salary offered may vary depending on multiple factors, including but not limited to location, job-related knowledge, skills, and experience. Mastercard benefits for full time (and certain part time) employees generally include: insurance (including medical, prescription drug, dental, vision, disability, life insurance); flexible spending account and health savings account; paid leaves (including 16 weeks of new parent leave and up to 20 days of bereavement leave); 80 hours of Paid Sick and Safe Time, 25 days of vacation time and 5 personal days, pro-rated based on date of hire; 10 annual paid U.S. observed holidays; 401k with a best-in-class company match; deferred compensation for eligible roles; fitness reimbursement or on-site fitness facilities; eligibility for tuition reimbursement; and many more. Mastercard benefits for interns generally include: 56 hours of Paid Sick and Safe Time; jury duty leave; and on-site fitness facilities in some locations.