Head of Risk

As the Head of Risk,  you will play a key role in laying the foundations for Marqeta’s risk and enterprise risk management (ERM) function and serve as the primary architect of building the risk management framework for driving risk-informed decision making and operational excellence across the enterprise.  You will work closely with the key stakeholders to embed good risk management practices throughout the company and help develop key metrics to identify and monitor current and emerging risk to the business. You will help build an ERM program that will help the business identify and assess top risks to ensure that Marqeta is making risk-informed decisions when executing on its business goals. You will also provide reporting to the Audit Committee of the Board of Directors to help them fulfill their duties with respect to Enterprise Risk Management. 

You will also play a key role in reimagining Marqeta’s Third-Party Risk Management (TPRM) Program by building new approaches to initial and ongoing due diligence and oversight of Marqeta’s Programs (focusing first on our customers) and our vendors. This is a unique opportunity to uplevel and scale a successful TPRM framework.  As the Head of Risk,  you will lead a team of professionals in designing an innovative TPRM framework that will measure risks associated with hundreds of programs that Marqeta manages in the US and abroad. You and your team will own the ongoing risk management of our Programs and vendors and be an exceptional strategic partner with your stakeholders. You’ll work closely with a supportive, close-knit team of compliance and risk professionals, and you’ll report on your progress, innovations, and data analysis to executive leadership.  

The ideal candidate will be someone who is enthusiastic, flexible, detail-oriented, a strategic thinker, passionate about creative problem solving, is exceptional at working cross-functionally, and thrives in a fast-paced, dynamic environment with many challenges and opportunities.

We work Flexible First. This role can be performed remotely anywhere within the United States. We’d love for you to join us!

What You’ll Do

• Develop and implement a formal ERM methodology to systematically manage risk, including strategic, operational, regulatory, technology, governance, financial, credit, and legal risk. 
• Design and execute on the annual enterprise risk process to develop a robust risk and identify, evaluate, and prioritize risks across the organization.
• Serve as subject matter expert in identifying  key material risks, including third party risk, affecting Marqeta, our Programs, and partner Banks.
• Develop corporate level risk appetite and align business decision making to the risk appetite
• Continuously monitor, analyze, and report on third-party risks and resiliency across all Marqeta Programs.
• Implement enhancements to our standardized and scalable TPRM framework necessary to identify, assess, mitigate, and monitor the risks relating to the Programs Marqeta serves.
• Prepare periodic reports for management and board-level committees, as well as Marqeta’s Programs and bank partners.
• Serve as subject matter expert for risk and TPRM with key stakeholders throughout Marqeta and our Programs, and communicate risk guidelines effectively
• Build and own operational workstreams with internal and external cross-functional teams to implement and/or complete objectives, such as the collection and review of initial and ongoing due diligence documentation requested by Marqeta
• Develop expertise in key material risks affecting Marqeta, our Programs, and partner Banks
• Contribute to other strategic initiatives, such as risk assessments, change management, process automation (e.g., API integrations with MQ tools).
• Constantly evolve Marqeta’s risk and TPRM framework, considering both business opportunities, industry trends, and current regulatory environment.

• Lead strategic sourcing team responsible for purchasing and contracting activities, including contract negotiation, administration, amendment and cancellation, including coordinating activities with the legal, compliance, security, and finance teams, as appropriate. 
• Develop and refine Marqeta’s strategic sourcing and vendor management vision, processes, and tools.
• Establish performance metrics to evaluate vendor performance, address any areas of concern, and promptly escalate critical issues to senior management..
• Identify and assess potential risks associated with vendor relationships and implement risk mitigation strategies and contingency plans.

What We’re Looking For 

• 12+ years in risk management (specifically in the financial services sector) and third party risk management
• Experience with FRS, FDIC, and OCC Interagency Guidance on Risk Management 
• Proven experience and knowledge in risk management and third party risk management. 
• Passion for using technology to improve processes, reporting, and oversight
• Strong bias toward action and initiative
• Excellent interpersonal skills and communication skills  in order to influence and guide decisions across multiple cross functional teams.
• Proven project management skills with analytical and problem solving abilities to identify business drivers and develop and implement strategies.
• Experience managing a team 

Typical Process

• Application submission
• Recruiter phone call
• Hiring manager video call
• Virtual “Onsite” consisting of 4-5, 30-45 min calls
• Offer!

Compensation and Benefits

Marqeta is a Flex First company which allows you to choose your best working environment, whether that be from home or at a company office. To support Flex First, we calibrate pay to a competitive value according to working location. Compensation is aligned according to three tiers within the United States:

• National: A baseline tier that applies to most of the geographic territory of the United States.
• Premium: Slightly elevated from the National tier, and oriented toward a narrower set of higher cost-of-living areas, such as Los Angeles CA and Seattle WA
• Premium Plus: A tier for the most expensive working areas, like the San Francisco Bay area and New York City.

Visit this page or consult with a Recruiter to determine which tier would be applicable to you.

When determining salaries, we consider several factors including, but not limited to, skills, prior experience, and work location. The new-hire base salary range for this position is:

• National: $191,900- $239,900
• Premium: $207,700 - $259,600
• Premium Plus: $225,800- $282,200

We also believe in recognizing the contributions of our people. That's why we award annual bonuses to eligible employees, rewarding both individual performance and the success of the entire company.

Along with monetary compensation, Marqeta offers

• Multiple health insurance options
• Flexible time off – take what you need
• Retirement savings program with company contribution
• Equity in a publicly-traded company and an Employee Stock Purchase Program
• Family-forming benefits, fertility support, and up to 20 weeks of Parental Leave
• Free therapy sessions, financial and professional coaching, and legal advice
• Monthly stipend to support our remote work model
• Annual “development dollars” to support our people growth and development