Description:
The Associate Counsel supports the Open Banking Division by directly working on the client side of an integral financial partner, which sponsors platforms in Fintech and ISOs into major networks, such as MasterCard and Visa. Our solutions allow FinTech's and ISOs to extend unique App and Point of Sale (POS) experiences to their end users. The employee demonstrates interest in both consumer and commercial payments technologies and products, specifically, and the financial services industry, generally. Provide legal advice to the businesses that provide payments services to consumers, such as credit and debit card accounts, as well as a variety of cash management services to commercial clients, including working with support areas on end-to-end product documentation, third party service provider agreements, client contracts, and management of outside counsel relationships (as appropriate).Main Job Tasks and Responsibilities:
- Providing legal advice to consumer and commercial payments business, with a cash management services focus. Examples include: drafting disclosures and terms for payments-related products, interpreting federal and state law requirements, supporting the negotiation of third-party contracts with FinTech partners, resolving customer complaints, and reviewing legal issues with new business initiatives.
- Collaborating with the Compliance department to advise the company on all aspects of laws and regulations applicable to consumer and commercial payments.
- Collaborating with the line of business and Compliance on drafting and updating of line of business policies and procedures.
- Drafting and reviewing forms, disclosures and agreements for use by the applicable businesses with minimal supervision.
- Reviewing and responding to regulatory and customer complaints.
- Partnering with other legal staff, risk partners, and line of business on enterprise level operational issues and projects.
- Ensuring compliance monitoring and internal controls are in place, including processes for management of operational risk, in accordance with Company and regulatory standards.
- Reviewing vendor contracts and advising of any regulatory or legal concerns related to the applicable businesses.
- Performing legal research and provide summaries of findings as required or assigned.
- Maintaining and periodically updating standard legal documentation for line of business use.
- Providing legal updates to direct manager, line of business clients, and Compliance regarding areas of expertise as appropriate.
- Representing the Office of General Counsel as proficient in areas of responsibility.
- Otherwise performing legal work necessary to fulfill scope of responsibility.
- Other special projects as assigned.
Qualifications and Experience:
- 2-4+ years of relevant, progressive experience as a practicing lawyer.
- Ability to perform each essential function with skill, efficiency and practicality.
- The ideal candidate will have some general experience and/or knowledge of applicable federal and state banking regulations including TILA, ECOA , Reg. E, Reg. II, and UDAAP.
- Juris Doctor from an accredited law school and in good standing with a license to practice law in any state.
