Manager, Operational Risk & Controls - Europe

requirements, supporting alignment with supervisory themes (e.g., cyber/operational resilience expectations). • Key relationships: ORC (Operational Risk and Controls) Global Function, 1Lo D business and technology owners; 1Lo D and 2Lo D Tech Risk and Corporate Security; TPRM; Finance/Controllership; Regulatory Affairs; Internal Audit; MCE risk governance committees (TRC/BRCC/Board Risk Committee). Key RESPONSIBILITIES: Framework execution & oversight • Champion application of the ORC Framework’s three pillars (Operational Risk Identification & Assessment; Controls Identification & Evaluation; Risk & Controls Management and Monitoring) across Europe; provide independent oversight, challenge, and guidance to 1Lo D. • Facilitate/oversee RCSAs (Risk and Control Self Assessments) and risk & control register for high operational risk processes (HORPs); ensure risks, controls, issues, risk events and treatments are captured and maintained to ORC standards. • Review control designs, effectiveness assessment and control testing results; escalate significant control gaps and delays, and track remediation through closure. • Support the maintenance of a Europe tech and non-tech control framework including control testing, in partnership with Group ORC and first line teams, including tech risk management and Corporate Security functions, that meet EU regulatory expectations Technology & non-technology coverage • Provide 2Lo D oversight across technology risk and control domains (e.g., change management, availability, security, access, data) and nontech operational risks (e.g., process, people, financial operations), ensuring consistent control expectations across domains. Regulatory enablement & external expectations • Produce ORC content to European Risk Governance packs (TRC/BRCC/ Board) • Provide support as needed in regulator interactions on topics related to Operational Risk and Controls. • Support MCE’s efforts to address CROE-related remediation actions by assessing whether security and technology control gaps are adequately identified, prioritized, and remediated in line with supervisory expectations. Risk events, issues & insights • Review high/very high rated risk events for accurate rating, high-quality root cause analysis, and adequacy of remediation. • Produce clear Management Reporting for governance forums; identify trends and emerging risks to inform priorities and controls evolution. • Monitor issue/treatment plan milestones and challenge closure evidence for sufficiency and durability. Ways of working & tooling • Oversee completeness of operational risk data (e.g., Open Pages entries, risk registers, control assessments, remediation evidence). • Ensure documentation meets regulatory, audit, and Europe governance expectations — including CROE aligned evidence standards. All About You Experience: 6-8 years in operational risk, internal controls, or assurance in financial services/payments; proven work across both technology and business/non tech processes. Risk Management practices and frameworks: Strong working knowledge of ORC/ERM policy constructs (RCSA, risk & control registers, control evaluation & testing, issues/incidents/loss events, risk appetite). Regulatory familiarity: Practical understanding of EU regulator expectations with ability to translate requirements into control objectives and testing criteria. Skills: Analytical judgment; ability to challenge constructively; crisp writing for senior audiences; stakeholder management in a matrix. Tools: Experience with risk GRC-applications (e.g., Open Pages, Archer) Languages: Fluent English Education/Certifications: Bachelor’s degree required; relevant certifications (e.g., CRISC, CISA, CIA) welcome. 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. 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. Governments need greater efficiencies; we help create them. Small businesses are virtual; we give them access to a world of buyers. Retailers want to fight fraud; we provide the tools.