Vice President, Risk Analysis (ERM) in Purchase, New York | DiversityInc Careers
 
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Vice President, Risk Analysis (ERM)

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®. 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.

Job Title

Vice President, Risk Analysis (ERM)

Overview
ERM works collaboratively with business and functional management globally to increase awareness and understanding of the risks impacting the Company’s ability to achieve its strategy and objectives, and to use risk to create value and not only to protect value. A key responsibility of ERM is to help the organization identify and manage risks in such a way as to:
• reduce performance variability and respond more quickly to opportunities
• drive improvements to business functions beyond risk avoidance
• provide insights that help management understand risks and opportunities and evaluate strategic options
The objective of ERM is to provide an integrated, comprehensive assessment of the risks that Mastercard is exposed to, and an objective and consistent approach to managing them. ERM is the process by which MasterCard assesses, manages and monitors its significant risks to help enhance shareholder value.
ERM elevates the management of risk from formalized programs in Business Units to an enterprise level through the use of common language and a consistent approach across MasterCard. The ERM program leverages business processes to, among other things, ensure: allocation of resources to appropriately address risk; establishment of clear accountability for risk management; and provision of transparency of risks to senior management, the Board of Directors and appropriate Board committees.

Role
Risk Framework
• Take lead role in developing and updating company risk taxonomy
• Drive alignment and coordination across 2nd line of defense using risk taxonomy
• Lead risk champions in implementation of company risk appetite at business unit level, including assisting in development of risk limits, tolerances, and indicators
• Drive consistent implementation of company-wide risk ownership roles, responsibilities and expectations
Risk Identification, Monitoring and Reporting
• Lead annual ERM cycle and corporate risk assessment, including risk assessment workshops and periodic monitoring, in conjunction with up to 18 risk champions across company
• Develop and implement strategy to identify and take action against end-to-end enterprise risks, i.e., key process orientation
• Partner with business areas to define and map business processes and identify risk ownership gaps
• Lead risk aggregation and theme assessment process to develop corporate heat map and response plans
• Prepare ERM risk updates for the Audit Committee, Board and the Risk Management Committee, as needed; assist business owners prepare Operating Matters for Audit Committee
• Assist in developing the RMC agenda and guiding business owners in preparing risk assessments and presentations
Develop Risk Capabilities and Tools
• Assist in implementation of processes to increase focus on identification and mitigation of emerging risks/trends (e.g., implementation of an emerging risk monitoring / information sharing team; external speaker process)
• Incorporate crisis scenario assessments and planning into ERM cycle and Board and RMC reporting
• Help align ERM risk management activities with strategy development and execution
• Work with business areas to ensure proper resourcing of risks and inclusion in objectives to monitor and measure risk mitigation
• Support/perform meeting facilitation and design/deliver risk management training to business areas
• Manage ERM tool/ system (wDesk)


Governance Processes
• Facilitate annual review and update of the ERM policy, as defined in Policy Framework
• Supervise tracking, follow-up and reporting of ERM and company risk management related activities
• Facilitate annual review of risk taxonomy and risk appetite to support Board, Audit Committee and Board review
• Implement ERM communication strategy and reporting plan (Board/RMC/ Risk Managers/Others)

All About You

• Bachelor’s Degree, with concentration in Finance, Accounting, Economics or Information Technology preferred; MBA a plus
• Demonstrated experience in risk management related roles with knowledge and experience in risk management practices (enterprise, business and operations) required
• Global work experience and capacity to manage tasks across multiple regions, cultures and time zones
• Business and operations understanding of payments industry products, services and policies preferred
• Demonstrated ability to think strategically, provide thought leadership to the organization, and manage change
• Ability to effectively interact and influence people at all levels
• Excellent oral/written communication skills; work product will be shared with Board, Audit Committee, RMC, and other senior executives across Mastercard
• Should have demonstrated process and project management capabilities
• Ability to multi-task and work with cross-functional teams and projects
• Partners effectively with others in handling complex and or sensitive issues

Equal Opportunity Employer