MD Deputy General Counsel Fintech Strategies

2 months ago

Minneapolis, Minnesota, United States The Bancorp Bank, N.A. Full time


MD Deputy General Counsel Fintech Strategies

Job Location

US-MN-Minneapolis

Type

Full Time

Overview

The MD Deputy General Counsel Fintech Strategies position will serve as a key legal advisor and support to senior management in the Company's various lines of business, but most notably Fintech Solutions (collectively "Clients") by providing legal advice, regulatory advice, and transactional support related to the Company's payments and lending products and services, and third-party business partner arrangements. This is a senior leadership role within the Company's Legal Department and requires strong collaboration with other in-house attorneys and non-attorney personnel to provide responsive and accurate support to a wide range of Clients.



Responsibilities

Essential Functions

  1. Provides effective and accurate legal support to the Clients through the following activities:
  • Oversees and supports the work of internal staff attorneys dedicated to supporting a wide range of legal projects related to consumer and commercial deposit, payment, and credit products of the Bank.
  • Consults with Clients on a wide range of business strategies, including new and emerging products, services or operational practices and advises on legal and regulatory risks associated with such strategies.
  • Supports Clients on transactional matters, including drafting, reviewing, interpreting, and negotiating business agreements consistent with the Company's policies and procedures, applicable law, supervisory guidance, and Clients' business and strategic objectives.
  • In consultation with the Legal Department's Enterprise Risk staff, interprets statutes, regulations, supervisory guidance, and case law developments applicable to the Company's business activities and provides legal advice and counsel to Clients accordingly.
  • Interfaces directly with industry trade associations and regulators on trends and legislative developments related to payment products and services to gain insights and advance the Company's strategic objectives.
  • Interfaces directly with opposing counsel representing the Company's business partners and customers (including non-bank fintech entities, payment networks, and third-party service providers) and effectively advances the Company's business, regulatory, and strategic interests in connection with these business relationships.
  • Oversees review of ancillary marketing and collateral materials related to products and services, and provides legal advice and guidance on related legal and regulatory risks.
  • Engages and oversees the work of specialized outside counsel engaged to provide legal support on deposit, credit, or payments-related matters.
Maintains a working knowledge of a wide range of state and federal banking laws and regulations as well as consumer and commercial laws and regulations relevant to the Company and its subsidiaries.Monitors applicable statutory, regulatory, and case law developments, assesses the impact on the Company's products and services, and provides oral and written updates to the Legal Department and affected Clients.Maintains familiarity with the Company's various business units and product lines and proactively assesses any emerging legal or regulatory risks presented by current or proposed changes in the law or industry guidance with respect to the business activities of Clients.Performs other duties as assigned by the General Counsel.

Manager Responsibilities

  • Manages team of employees by overseeing day-to-day operations.
  • Sets high performance standards and manages team performance in accordance with HR policies and procedures.
  • Creates a flexible and energized work environment, fostering an atmosphere that enables employee trust and engagement.
  • Inspires confidence and motivates employees to perform at their best level.
  • Develops employees while effectively addressing performance issues.


Qualifications

Education/Experience Requirements

  • Law degree from an accredited law school.
  • License to practice law (in good standing) in one or more states in the United States.
  • At least 12 years of legal experience within a regulated financial institution, financial services provider, law firm, or in-house corporate legal department, with experience principally focused on state and federal banking law, payments law and related regulations.
  • At least 7 years in a management or leadership role.

Preferred Requirements

  • Subject matter expertise or a working knowledge of the following areas:
    • Prepaid, debit card, and credit card issuance.
    • NACHA and other funds transfer systems.
    • State licensing laws (money transmitter, collection, loan servicing, etc.)
    • Payment network standards and related matters involving network settlement, merchant acquisition, laws affecting Independent Sales Organizations, and emerging payment systems (e.g., Apple Pay, Android Pay, etc.)
  • Familiarity with laws and regulations impacting the regulation of federally insured depository institutions, including, but not limited to, federal banking safety and soundness regulations.
  • Familiarity with laws and regulations impacting commercial banking transactions, including the ability to engage in legal research in order to maintain knowledge of commercial banking laws and regulations.
  • General contract law and contract interpretation principles applicable to various types of agreements, including business partner and third-party service provider agreements, and significant experience drafting and negotiating contracts.
  • Excellent research and time management skills, with strong focus on attention to detail.
  • Ability to train, manage, and develop a team of employees.
  • Ability to conduct training across business segments and internal control functions.
  • Ability to understand key business and strategic objectives of the Company and integrate business, legal, and regulatory concepts in order to provide business advice.
  • Ability to interface (both orally and in writing) with senior executives, business unit management and staff, state and federal regulators and officials, outside counsel, and significant business partners.
  • Ability to work with highly confidential and sensitive business information and to maintain high standards of confidentiality.
  • Ability to work independently and in a team environment to achieve department goals and objectives consistent with the company's standards of excellence.
  • Ability to manage multiple and/or shifting priorities and produce professional and accurate work products, sometimes under time constraints.
  • Full agreement with and willingness to support The Bancorp's Values Statement.
  • Excellent verbal, written, and interpersonal communication skills.
  • A team player, able to work effectively in a team fostered, multi-tasking environment.
  • Proficient in Microsoft Office suite, e.g., Word, Outlook, and PowerPoint.
  • Position requires frequent travel to Sioux Falls, SD, and other limited travel in the United States.


Background & EEO Statement

his job will be open and accepting applications for a minimum of five days from the date it was posted.

Working at The Bancorp Bank, N.A. and Benefits Information: click here



Diversity & Background Screening

Diversity & Inclusion at The Bancorp Bank: click here

The Bancorp Bank, N.A. is an EQUAL OPPORTUNITY EMPLOYER and will not discriminate on the basis of race, color, religion, gender, gender identity, sexual orientation, pregnancy, citizenship, national origin, age, disability, genetic information, veteran status or other protected category with respect to recruitment, hiring, training, promotion, and other terms and conditions of employment.

Employment with The Bancorp Bank, N.A. includes successfully passing a background check including credit, criminal, education, employment, OFAC, and social media background history.

#LI-PJ1



The Bancorp is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, among other things, or status as a qualified individual with disability.

The Bancorp is an Equal Opportunity Employer

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