VP, Payments Counsel

Overview

As a member of the Legal Department of The Bancorp, Inc. (“Bancorp”) the VP Payments Counsel will collaborate with members of the Legal Department to provide legal advice and support to Bancorp’s senior management team and various business units, with a primary focus on Bancorp’s Payments businesses (collectively “Clients”). This role will also require strong collaboration with non-attorney regulatory risk professionals within the Bancorp to provide responsive and accurate support to Clients. Strong preference for the position to be located in Sioux Falls, SD, but placement in Minneapolis, MN will also be considered. 

Responsibilities

  1. Provide effective and accurate legal advice and support to senior and executive management of the Bank’s Payments business through the following activities:
    • Consult with Clients on a wide range of business strategies, including new products, services or operational practices and advise on legal risks associated with such strategies. Provide legal support in developing business solutions that achieve strategic objectives, while assuring compliance with all applicable laws and regulations.  
    • Support Clients on transactional matters, including drafting, reviewing, interpreting and negotiating business agreements, consistent with the Bancorp’s policies, procedures and applicable law and supervisory guidance, in addition to Bancorp’s business and strategic objectives.
    • Under the direction of Payments Counsel, engage in legal research related to payments products, services and emerging trends within the banking industry.
    • Interpret statutes, regulations, supervisory guidance and case law developments applicable to the company’s business activities and provide legal advice and counsel to Clients accordingly.
    • Collaborate with the Bancorp’s compliance and risk management staff on legal and regulatory matters in connection with the implementation of the Bancorp’s risk management programs or other initiatives of the company.
    • Interact directly with Bancorp’s external partners, including program managers, payment networks, processors, and independent sales organizations partnered with Bancorp.
    • Oversee outside counsel in the management of consumer litigation and arbitrations.
  2. Maintain a working knowledge of a wide range of state and federal banking laws and regulations as well as corporate and commercial laws and regulations relevant to the Bank’s Payments business and its products and services, including but not limited to debit cards, prepaid cards and other emerging payment mechanisms.
  3. Monitor applicable statutory, regulatory and case law developments, assess the impact to Bancorp’s products and services, and provide practical and accurate oral and written updates to affected Clients.
  4. Maintain familiarity with the Bancorp’s various business units and product lines with specific focus on Bancorp’s payment card products and payment sponsorship (ACH, merchant acquiring and faster payment facilitation) services and proactively assess any emerging legal or regulatory risks presented by current or proposed changes in the law or industry guidance with respect to identified Clients.
  5. Provide regular reporting to internal Clients and Legal Department on the status of various legal projects as assigned.
  6. Perform such other attorney duties as may be assigned by the Director, Senior Payments Counsel or General Counsel.

Qualifications

Education/Experience

Other Qualifications:

Employment with The Bancorp includes successfully passing a background check including credit, criminal, OFAC, education and past employment.

 

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

Apply Online