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Regulatory (Payment) Legal Counsel

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Paysend

19d ago

  • Job
    Full-time
    Senior & Expert Level
  • Legal
  • London
  • Quick Apply

AI generated summary

  • You must have a UK law degree, strong banking and e-money experience, regulatory knowledge, drafting skills, and familiarity with payment systems and compliance.
  • You will provide legal advice on payment regulations, ensure compliance, draft agreements, manage risks, and collaborate with teams to enhance payment operations.

Requirements

  • Education: UK Bachelor’s or Master’s degree in Law or a related field.
  • Substantial practical experience in banking, payments and e-money regulatory regime and applying such matters to business decisions, product design and customer, supplier and product terms.
  • The regulatory perimeter and financial services permissions requirements as well as familiarity in advising on licence applications.
  • Financial services business models, particularly e-money models.
  • Developing customers agreements (ToS) in order to comply with regulatory requirements etc.
  • Deep understanding of global payment regulations, licensing frameworks, and compliance standards.
  • Strong negotiation and drafting skills for payment-related contracts and agreements.
  • Proven ability to work effectively across teams in a fast-paced and complex environment.
  • Strategic mindset with a focus on fostering innovation within legal and regulatory frameworks.
  • Excellent problem-solving skills to address complex and evolving payment issues.
  • Strong interpersonal and communication skills to facilitate collaboration across diverse teams.
  • Experience in a high-growth or scale up environment.
  • Experience in product development.
  • Experience of advising on the development od digital assets products, their operations, current regulation.
  • Experience of advising on legal matters such as outsourcing arrangements, corresponding banking, the APP scam regime, Consumer Duty, DORA (EU) etc.
  • Experience of advising on intra-group arrangements, including maters relating to governance.
  • Awareness of payment systems and their rules.

Responsibilities

  • Provide legal advice on payment regulations, licensing requirements, and regulatory compliance obligations across jurisdictions where the Group operates or would like to implement the new product developments across the Globe.
  • Monitor and address legal developments in payment services, electronic money regulations, and fintech innovation, ensuring the Group’s operations remain compliant.
  • Act as a liaison among Legal, Compliance, Business, Product Development and Operations teams to ensure alignment on payment-related legal and regulatory matters.
  • Support the development and implementation of payment frameworks that enhance collaboration and operational effectiveness.
  • Draft, review, and negotiate customers agreements (ToS), various agreements related to payment services, including partnership agreements, licensing arrangements, and vendor contracts.
  • Develop and maintain internal policies and processes to manage legal and regulatory risks associated with payment operations.
  • Ensure all Group payment entities adhere to applicable payment and financial regulations, including those related to consumer protection, and data privacy (the last one in collaboration with Group DPO).
  • Lead internal audits and risk assessments related to payment operations to identify and mitigate compliance risks.
  • Build internal capabilities for managing payment-related legal issues to reduce reliance on external advisors.
  • Identify opportunities for cost efficiencies while maintaining compliance and legal excellence.

FAQs

What is the main purpose of the Regulatory (Payment) Legal Counsel role?

The main purpose of the Regulatory (Payment) Legal Counsel role is to provide legal expertise on payment regulations, facilitate collaboration among various teams, ensure compliance with legal and regulatory requirements, and enhance the efficiency of managing payment-related legal issues within the Group.

What educational qualifications are required for this position?

A UK Bachelor’s or Master’s degree in Law or a related field is required for this position.

What experience is preferred for candidates applying to this role?

Candidates should have substantial practical experience and extensive knowledge in banking, payments, e-money regulatory regimes, financial services permissions requirements, and developing customer agreements compliant with regulatory standards.

Are strong negotiation and drafting skills necessary for this role?

Yes, strong negotiation and drafting skills for payment-related contracts and agreements are essential.

Is this role focused only on legal issues, or does it involve collaboration with other teams?

This role involves collaboration with various teams, including Legal, Compliance, Business, Product Development, and Operations, to ensure alignment on payment-related legal and regulatory matters.

What kind of compliance obligations will the Regulatory Counsel be responsible for?

The Regulatory Counsel will ensure that all Group payment entities comply with applicable payment and financial regulations, including consumer protection and data privacy regulations.

Does this position involve handling customer agreements and contracts?

Yes, the position involves drafting, reviewing, and negotiating customer agreements, partnership agreements, and vendor contracts related to payment services.

Is prior experience in a high-growth environment beneficial for this role?

Yes, experience in a high-growth or scale-up environment is considered a plus for this role.

Will the Regulatory Counsel handle internal audits and risk assessments?

Yes, the Regulatory Counsel will lead internal audits and risk assessments related to payment operations to identify and mitigate compliance risks.

Is knowledge of global payment regulations important for this position?

Absolutely, a deep understanding of global payment regulations, licensing frameworks, and compliance standards is crucial for this position.

Paysend is a global FinTech disruptor. Listed in the FT 1000: Europe’s Fastest Growing Companies of 2023.

Finance
Industry
201-500
Employees
2017
Founded Year

Mission & Purpose

At Paysend, we're on a mission to deliver the World's Simplest Money Transfer. Paysend is a next-generation integrated global payment ecosystem, enabling consumers and businesses to pay and send money online anywhere, anyhow and in any currency. Paysend is UK-based and has global reach having been created in April 2017 with the clear mission to change how money is moved around the world. Paysend currently supports cross-network operability globally across Mastercard, Visa, China UnionPay and local ACH and payment schemes, providing over 40 payment methods for online SMEs. Paysend can send money to over 170 countries worldwide and has attracted more than six million consumers to its platform. As a global end-to-end payment platform, Paysend has a global network of banks and international and local payment systems and has partnerships with the major international card networks Visa, Mastercard and China Union Pay as a principal members and certified processors. Paysend: Simple Money Transfer Download the Paysend app from the App Store or Google Play.

Benefits

  • Learning

  • Community

  • Culture Exchanges

  • Competitive Salary

  • Working from home

  • Flexible working hours