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Silicon Valley Bank · 1 day ago

Counsel - Embedded Payments, FinTech, Web 3.0

Raleigh, NC

Full-time

Hybrid

Senior Level

6+ years exp

Silicon Valley Bank is seeking an exceptional attorney to join their team as Counsel, focusing on embedded payments and fintech-related legal issues. The role involves providing legal and regulatory support, advising on compliance matters, and collaborating with various teams to ensure the delivery of innovative financial products and services.

BankingFinanceFinancial Services

Comp. & Benefits

H1B Sponsor Likely

Responsibilities

Provide legal and regulatory support for embedded payments products, deposit products, digital channels (SVB Go, mobile banking, etc.), products to be provided to fintech clients and related emerging areas (e.g., cryptocurrency, digital assets, crypto-adjacent technologies and blockchain)

Advise with respect to laws and regulations impacting payments products, deposit products, fintech operations, crypto and related products, including BSA/AML rules, KYC rules, sanctions, third party risk management, custody issues, federal banking agency rules and federal and state money transmission laws

Provide analysis on complex regulatory matters such as Nacha rules, escheatment, FDIC brokered deposit rules, and FDIC pass-through insurance

Analyze and communicate the impact of new law and regulations, such as the GENIUS Act and the FDIC Recordkeeping proposal, through client memos and other communication

Advise corporate strategy and product development teams on a range of legal and regulatory issues related to the structuring, implementation and delivery of financial products, services and channels that the Bank’s crypto-native, Web 3.0, blockchain, digital asset and other fintech clients may seek

Coordinate with and advise internal stakeholders, including the Treasury Management and Liquidity Solutions (TMLS) team, Corporate Strategy, 1LOD Customer Due Diligence team, Business Risk and Controls, 2LOD Risk, Compliance and Operations, to assist such stakeholders in exploring new products and initiatives and addressing regulatory changes and internal policy updates

Offer guidance on potential legal risks and mitigation strategies in line with the Bank’s risk appetite with respect to the embedded payments, crypto and other related emerging areas

Provide legal support with respect to examinations and inquiries from regulators for matters relating to embedded payments, fintech partnerships, crypto, new products offered by TMLS and similar matters

Ensure awareness of developments in industry standards for embedded payments, crypto and other similar area in line with attorney’s coverage areas

Maintain current and compliant versions of certain legal agreements used by TMLS and the First Citizens Commercial Bank, including agreements for embedded payments, deposit products, digital asset custody and other similar agreements, updating them as needed to reflect regulatory changes, the latest industry standards and internal policy updates

Provide legal support and advice to internal stakeholders with respect to customer contract negotiations related to Embedded Payments, Payment Facilitation Agreements, FBO and OBO Agreements, Deposit Agreements and Digital Asset Custody Agreements, including the direct negotiation of such contracts in certain cases

Review and manage the requirements for FBO clients to submit outside counsel opinion letters (i.e., money services business licenses)

Support new product development and implementation through the development of new contracts applicable to such products, including drafting agreement templates and holistic amendments to existing contracts

Qualification

J.D.Financial services experienceComplex commercial contractsPayments products knowledgeBlockchain technologyCommunication skillsProblem-solving skillsProject management

Required

A J.D. from a top tier law school and excellent academic credentials

At least 6 years of relevant experience (either at a top-tier law firm, in-house, or equivalent)

Admitted to practice in state of residence

Experience preparing, reviewing, and revising complex commercial contracts

Excellent written and verbal communication skills, excellent contract negotiation skills, and ability to clearly and concisely communicate complex legal information to a diverse audience

Hard working, well organized, and able to manage numerous projects simultaneously under tight deadlines

Active listening and strong problem-solving skills

Ability to evaluate and advise on legal risks in a way that supports strategic business outcomes within the Bank's risk appetite

Willingness to learn and work on a broad range of legal matters/topics, including outside primary area of expertise

Ability to push back and “stand your ground” in a professional and diplomatic way

Ability to manage outside counsel on a cost-effective basis

Preferred

Experience in financial services/banking industry preferred

Experience with any of complex vendor contracts, money services businesses, money transmitters, payments products, deposit products, fintechs, digital assets, blockchain technology and/or cryptocurrencies a plus

Benefits

Competitive, thoughtfully designed and quality benefits program

Company

Silicon Valley Bank

Glassdoor4.2

Silicon Valley Bank offers business banking, lending, payments, venture debt, liquidity management, and global fund banking sloutions.

Founded in 1983

Santa Clara, California, USA

5001-10000 employees

https://www.svb.com

H1B Sponsorship

Silicon Valley Bank has a track record of offering H1B sponsorships. Please note that this does not guarantee sponsorship for this specific role. Below presents additional info for your reference. (Data Powered by US Department of Labor)

Distribution of Different Job Fields Receiving Sponsorship

Represents job field similar to this job

Trends of Total Sponsorships

2023 (42)

2022 (126)

2021 (138)

2020 (98)