Associate Regulatory Product Counsel - Payments

5 days ago

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Lead Bank

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Lead Bank is a financial institution providing flexible financing and reliable support for businesses at every stage. The bank offers a range of services, including business banking, personal banking, and a Banking as a Service (BaaS) partner platform aimed at empowering fintech startups. Established in 1928, Lead Bank combines a solid historical foundation with a forward-thinking approach, offering personalized financial solutions such as checking, savings, investment, and lending options. Committed to innovation, Lead Bank focuses on leveraging fintech to enhance its banking services and provide a better future for its clients.

Commercial Lending • Business Lending • Business Advisory • Strategic Financial Solutions

51 - 200 employees

Founded 2010

🏦 Banking

💳 Fintech

💸 Finance

💰 $30M Debt Financing on 2021-03

📋 Description

• Lead Bank is a chartered banking-as-a-service platform for builders and innovators. • Despite broader economic headwinds, the continued proliferation of fintech companies and a 20x increase in fintech investment ($20.5 billion in 2020) signals that the market’s interest in embedding financial services products into their offerings is resilient and sustainable. • Whether it’s a travel company that wants to offer credit for an expensive trip, a social network that wants to enable in-feed shopping solutions, or an ecommerce platform that wants to provide client rewards cards, the broader tech ecosystem has enjoyed a step-change in the sophistication, variety and complexity of client-facing products they can offer. • This means that the underlying infrastructure powering those fintechs needs to evolve to meet these modern demands. • While fintech companies continue pushing boundaries, they have largely accepted that directly integrating with banks is costly, time-consuming and operationally burdensome. • This frustration comes in many forms: gaps in technical acumen, product scalability, client risk appetite, and company culture. • These gaps clearly illustrate the need for a new paradigm in banking technology. • Lead Bank is bridging those gaps. • We see a massive opportunity for a tech-savvy developer-focused bank to augment a sophisticated financial services platform with the compliance, regulatory, capital markets, and legal expertise required to help our clients succeed. • Come join us on our journey. • We are looking to hire an Associate Regulatory Counsel to join our nimble in-house legal team to support our Payments and Banking-as-a-Service (BaaS) initiatives. • This attorney will support internal as well as external stakeholders through the increased regulatory and technology demands on bank products and services, with a primary focus on providing practical legal advice and recommendations on day-to-day legal issues to enable our teams to meet their business objectives within the company’s risk tolerance. • This role will be a key member of our risk team, reporting to Senior Regulatory Counsel. • This attorney will be a strategic partner in building processes and practices that will drive efficiencies and enable our legal team to scale.

🎯 Requirements

• 3+ years of experience specializing in payments • Active member in good standing of at least one state bar • Experience reviewing commercial and consumer disclosures and documents for payments services • Experience understanding, interpreting, and applying payments laws, regulations, and rules to innovative environments such as fintech and crypto • Critical-thinker with the ability to be practical and balance competing risks (legal and non-legal) • Eager to collaborate/compromise to get to the best, most efficient outcome • Strong judgment, good instincts and sharp analytical skills • Strong communication skills and the ability to work cross-functionally to align stakeholders on the goals and behaviors required for success • Welcomes divergent opinions and perspectives • Client focused mentality • Intellectually curious self-starter that likes to roll up your sleeves • Experience in a law firm advising clients regarding payments services preferred • Experience with fintech or Banking-as-a-Service (BaaS) environment preferred • Experience drafting and negotiating commercial contracts preferred • Experience with stablecoin and crypto based payment flows preferred • Interested in expanding experience into other banking products like lending and deposits

🏖️ Benefits

• Competitive compensation, based on experience, geographic location, and role • Medical, Dental, Vision, Life, 401k Matching, and other wellness benefits, including FSA, HSA and HRA • Paid parental leave • Flexible vacation policy, including PTO and paid holidays • A fun and challenging team environment in a dynamic industry with ample opportunities for career growth