Mastercard
Pune, India
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.
Manager, Operational Risk & Controls - Europe
Manager, Operational Risk & Controls - Europe
Location: Pune, India
Overview:
The Manager, Operational Risk & Controls– Europe strengthens Mastercard Europe’s (MCE) risk posture by providing independent 2LoD oversight and challenge across high operational risk processes spanning both technology and non-technology domains. The role drives consistent application of the ORC framework (risk identification & assessment, control identification & evaluation, and ongoing management & monitoring), and supports MCE’s regulatory obligations (i.e. SIPS, PISA, CROE).
Role
Scope:
• Regional coverage: Mastercard Europe S.A. (MCE)
• Risk domains: Operational (incl. tech, process, people), legal & regulatory, third-party/outsourcing interfaces, and other topics relevant to European supervision.
• Regulatory context: Role contributes to ongoing readiness against regulatory expectations to comply with SIPS, PISA and CROE requirements, supporting alignment with supervisory themes (e.g., cyber/operational resilience expectations).
• Key relationships: ORC (Operational Risk and Controls) Global Function, 1LoD business and technology owners; 1LoD and 2LoD 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 1LoD.
• 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 2LoD 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., OpenPages 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., OpenPages, Archer)
Languages: Fluent English
Education/Certifications: Bachelor’s degree required; relevant certifications (e.g., CRISC, CISA, CIA) welcome.
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: