Product Counsel, Payments
WFA Digital Insight
The fintech industry is booming, with demand for skilled product counsel growing rapidly. As companies like Plaid navigate complex regulatory landscapes, the need for experts in payments laws and data protection has never been higher. With over 12,000 financial institutions in its network, Plaid is at the forefront of open banking and payments innovation. To succeed in this role, candidates will need to possess a deep understanding of payments laws, a collaborative mindset, and the ability to thrive in a fast-paced environment. Before applying, candidates should be aware of the importance of staying up-to-date on changing regulations and the need to balance innovation with regulatory compliance.
Job Description
About the Role
The Product Counsel role at Plaid is a unique opportunity to join a team of innovators and thought leaders in the fintech industry. As a member of the Product Legal team, you will play a crucial role in ensuring compliance and guiding the development of cutting-edge products. Your expertise in payments laws and data protection will be instrumental in navigating the complex regulatory landscape and shaping the future of Plaid's offerings.The day-to-day responsibilities of this role will involve collaborating with cross-functional teams, including product, engineering, compliance, and product marketing, to integrate legal considerations into the product lifecycle. You will also work closely with external legal counsel when necessary and represent the company in regulatory discussions.
Plaid's commitment to empowering the transformation of the financial industry means that this role will be at the forefront of innovation and change. As a Product Counsel, you will have the opportunity to work with a talented team of professionals who are passionate about driving innovation while maintaining regulatory compliance.
What You Will Do
- Provide expert legal advice and guidance on matters related to fintech payments and consumer protection activities
- Collaborate with cross-functional teams to integrate legal considerations into the product lifecycle
- Assist go-to-market and commercial counsel in deals, ensuring legal compliance and mitigating potential risks
- Stay abreast of changes in relevant laws and regulations, and ensure proactive adjustments to company policies and procedures
- Draft and review legal documents and disclosures related to consumer reporting and data protection
- Work closely with external legal counsel when necessary and represent the company in regulatory discussions
- Develop and implement training programs for internal stakeholders on compliance and regulatory issues
- Conduct risk assessments and provide recommendations for mitigation strategies
- Collaborate with the product team to develop and implement new features and products
- Stay up-to-date on industry trends and developments, and provide insights and recommendations to the team
What We Are Looking For
- Juris Doctor (JD) degree from an accredited law school with an active license to practice law
- 6-8+ years of legal experience, with a focus on payments laws and regulatory compliance
- Strong familiarity with payments laws, including Nacha operating rules, BSA/AML regulations, Reg E, and other consumer protection laws
- Experience negotiating, advising on, and managing the risks of complex commercial agreements with partner banks, payment processing vendors, and other payments-related service providers
- Strong understanding of data protection and privacy laws, including GLBA
- Excellent communication and collaboration skills, with the ability to work effectively with cross-functional teams
- Strong analytical and problem-solving skills, with the ability to provide creative solutions to complex problems
- Experience working in a fast-paced, dynamic environment, with the ability to adapt to changing priorities and deadlines
Nice to Have
- Experience working in the fintech industry, with a focus on payments and regulatory compliance
- Knowledge of emerging trends and technologies in the payments industry, such as blockchain and cryptocurrency
- Experience working with external counsel and regulatory bodies, with a strong understanding of the regulatory landscape
- Strong project management skills, with the ability to prioritize tasks and manage multiple projects simultaneously
- Experience working in a remote environment, with the ability to collaborate effectively with distributed teams
Benefits and Perks
- Competitive salary and equity package
- Comprehensive health, dental, and vision insurance
- Flexible paid time off and holidays
- Remote work stipend and equipment allowance
- Professional development opportunities, including training and conference attendance
- Access to a dynamic and innovative community of professionals
- Opportunities for career growth and advancement
- A fun and collaborative work environment, with a strong focus on teamwork and camaraderie
How to Stand Out
- Develop a strong understanding of payments laws and regulations, including Nacha operating rules, BSA/AML regulations, and Reg E.
- Build a portfolio of examples that demonstrate your expertise in advising on payments laws and regulatory compliance.
- Practice your collaboration and communication skills, as you will be working closely with cross-functional teams.
- Stay up-to-date on industry trends and developments, and be prepared to provide insights and recommendations to the team.
- Highlight your experience working in a fast-paced, dynamic environment, and your ability to adapt to changing priorities and deadlines.
- Be prepared to provide specific examples of your experience negotiating, advising on, and managing the risks of complex commercial agreements.
- Consider earning a certification in payments or regulatory compliance to demonstrate your expertise and commitment to the field.
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