scale an image inside a mask
After some serious Google time I found a solution.

Here is the link, but just in case is gets removed this is what they said to do.

You want to use a track matte.

Create a mask on a solid layer that lies on top of the layer you want to cut out. Then click on the TrkMatte dropdown menu on your footage layer, select Alpha Matte.

Here's the layer order for you:


Masked solid
Your footage / image - Apply Track matte and apply Alpha Matte
Background (if used)


Now you can move your footage layer around and the mask won't move. 

This worked like a charm.

If anyone has any better solutions, please let me know.