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- Tasks: Join our Global Legal Team as a Payments Legal Expert, advising on regulations and compliance.
- Company: Be part of a dynamic group navigating the fast-paced payments landscape.
- Benefits: Enjoy flexible working options and opportunities for professional growth.
- Why this job: Make an impact by ensuring compliance and fostering innovation in payment operations.
- Qualifications: A UK Law degree and experience in banking or payments regulation are essential.
- Other info: Ideal for those passionate about fintech and eager to shape the future of payments.
The predicted salary is between 43200 - 72000 £ per year.
The Payment Counsel will play a pivotal role within the Global Legal Team, serving as a cross-functional expert to facilitate collaboration among Legal, Compliance, Business, and Operations teams. This position is essential in navigating the rapidly evolving payments landscape and ensuring the Group’s payment operations comply with all relevant legal and regulatory requirements across jurisdictions. The role also aims to enhance the independence, consistency, and efficiency of managing payment-related legal issues within the Group, delivering long-term cost efficiencies.
Key Responsibilities:
- Payments Legal Expert
- Provide legal advice on payment regulations, licensing requirements, and regulatory compliance obligations across jurisdictions where the Group operates or would like to implement new product developments.
- Monitor and address legal developments in payment services, electronic money regulations, and fintech innovation, ensuring the Group’s operations remain compliant.
- Cross-Team Collaboration
- 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.
- Policy and Contract Management
- Draft, review, and negotiate customer 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.
- Regulatory Compliance
- Ensure all Group payment entities adhere to applicable payment and financial regulations, including those related to consumer protection and data privacy (in collaboration with Group DPO).
- Lead internal audits and risk assessments related to payment operations to identify and mitigate compliance risks.
- In-House Efficiency and Cost Optimization
- 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.
Requirements:
- Education: UK Bachelor’s or Master’s degree in Law or a related field.
- The ideal candidate will have previous experience in and extensive knowledge of:
- 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 customer agreements (ToS) in order to comply with regulatory requirements.
- 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 of digital assets products, their operations, and 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 matters relating to governance.
- Awareness of payment systems and their rules.
Contact Detail:
Paysend Group Ltd. Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Regulatory (Payment) Legal Counsel (London)
✨Tip Number 1
Familiarise yourself with the latest developments in payment regulations and compliance standards. This will not only help you understand the role better but also demonstrate your proactive approach during interviews.
✨Tip Number 2
Network with professionals in the payments and legal sectors. Attend industry events or webinars to connect with potential colleagues and learn about the challenges they face, which can give you valuable insights for your application.
✨Tip Number 3
Prepare to discuss specific examples of how you've navigated complex regulatory environments in previous roles. Highlighting your problem-solving skills and strategic mindset will resonate well with the hiring team.
✨Tip Number 4
Showcase your ability to collaborate across teams by sharing experiences where you successfully worked with diverse groups. This is crucial for the role, as cross-team collaboration is a key responsibility.
We think you need these skills to ace Regulatory (Payment) Legal Counsel (London)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in banking, payments, and regulatory compliance. Emphasise any specific roles where you've navigated legal frameworks or collaborated with cross-functional teams.
Craft a Compelling Cover Letter: In your cover letter, demonstrate your understanding of the payments landscape and how your skills align with the responsibilities of the role. Mention specific experiences that showcase your ability to manage payment-related legal issues.
Showcase Relevant Skills: Highlight your negotiation and drafting skills, particularly in relation to payment contracts and agreements. Provide examples of how you've successfully worked across teams in complex environments.
Research the Company: Familiarise yourself with the Group's operations and recent developments in payment regulations. This knowledge will help you tailor your application and prepare for potential interview questions.
How to prepare for a job interview at Paysend Group Ltd.
✨Showcase Your Regulatory Knowledge
Make sure to brush up on the latest payment regulations and compliance standards. Be prepared to discuss how these regulations impact business decisions and product design, as this role requires a deep understanding of the legal landscape.
✨Demonstrate Cross-Functional Collaboration Skills
Since this position involves liaising with various teams, highlight your experience in working collaboratively across departments. Share specific examples of how you've facilitated communication and alignment on legal matters in previous roles.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving abilities in complex situations. Think of scenarios where you had to navigate regulatory challenges or manage compliance risks, and be ready to explain your thought process and outcomes.
✨Highlight Your Negotiation and Drafting Experience
As the role involves drafting and negotiating contracts, be prepared to discuss your experience in this area. Bring examples of agreements you've worked on, particularly those related to payment services, and explain how you ensured compliance with regulatory requirements.
