Open Banking is a worldwide phenomenon, gathering pace over the recent years and set to transform many aspects of financial services. Mastercard has built an initial suite of Open Banking Solutions and has acquired Finicity, a leading US open banking data aggregation and analytics company, and Aiia, in Europe, with a vision to expand our footprint globally. Mastercard is searching for a technology and transactional lawyer to provide product development and commercial sales legal support and coun... more details
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. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. We cultivate a culture of inclusion 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.
Title and Summary
Senior Counsel, Open Banking
Overview:
Open Banking is a worldwide phenomenon, gathering pace over the recent years and set to transform many aspects of financial services.
Mastercard has built an initial suite of Open Banking Solutions and has acquired Finicity, a leading US open banking data aggregation and analytics company, and Aiia, in Europe, with a vision to expand our footprint globally.
Mastercard is searching for a technology and transactional lawyer to provide product development and commercial sales legal support and counsel to the North American open banking team.
Role:
This full-time role will be part of the global open banking legal team. Reporting into the Vice President for Mastercard’s North American Open Banking legal team, you will provide legal counsel to the product development and commercial business teams. The selected candidate will:
• Provide legal and business risk assessment and analysis on matters including new product constructs, sales agreements and go-to-market strategies related to Mastercard’s open banking products in North America.
• Advise from the concept through development to launch stage and beyond of various solutions and services.
• Draft and negotiate technology sales, reseller, and vendor agreements.
• Manage contractual negotiations with various partners in the open banking ecosystem, including fintechs, financial institutions, merchants, processors, and service providers.
• Provide legal advice to the business on a wide range of commercial and contractual matters.
•Work cross-functionally across product and legal teams (including data privacy, intellectual property, antitrust, regulatory, compliance, and franchise) to advise holistically on product constructs and commercial agreements to ensure that they are consistent with corporate strategy, internal policies and procedures and applicable laws and regulations.
• Work with internal and external regulatory counsel relating to the impact of local laws, government regulations and directives relating to Mastercard's North American open banking solutions.
• Develop strong relationships with product development, business and sales teams, and senior management within the company.
• Ensure compliance with company policies and procedures.
• Support initiatives of the open banking team in North America and globally; provide support to international colleagues as needed.
• Take responsibility for special projects while continuing to handle a steady stream of day-to-day matters.
All About You
• Solid transactional training and experience (in-house experience preferred).
• Experience with product development and open banking or other regulated products is a specific plus.
• Keen business insight and strong communication skills to interact confidently and effectively.
• Fast learner who can gain rapid familiarity with complex and evolving products and solutions and navigate complex legal and regulatory challenges.
• Must be thorough and detail-oriented, able to prioritize, and juggle multiple projects and demands.
• Strong drafting and negotiating skills across a range of complex commercial contracts and the ability to analyze and identify core legal issues.
• Team player and willing to take on a variety of responsibilities and roles that support the team, department and the company.
• Must be able to work independently and collaboratively, including with our global colleagues, but also take direction from manager and other team members, as appropriate.
• JD from accredited law school; licensed to practice law in the US.
Mastercard is an 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. 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 based on location, experience and other qualifications for the role and may be eligible for an annual bonus or commissions depending on the role. 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 new parent leave, up to 20 paid days bereavement leave), 10 annual paid sick days, 10 or more annual paid vacation days based on level, 5 personal days, 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, gender-inclusive benefits and many more.
