Senior Legal Counsel, Payments-(Hybrid)

Central 1 Credit Union; Vancouver; Hybrid; CAD 156,000 - 190,000; Full time

Job summary

Central 1 Credit Union is seeking a Senior Legal Counsel to lead legal strategies in support of its payments operations. The ideal candidate will possess extensive legal expertise, particularly in payments law and regulatory compliance, driving high-impact projects and providing guidance on complex legal matters. This role offers both leadership and collaboration opportunities within a dynamic environment focused on innovation and compliance.

Benefits

Work-life flexibility

Hybrid work environment

Variable annual incentive plan

Generous annual vacation allotment

Flexible benefits plan

Retirement Plan with matched contributions

Access to learning platform

Career development opportunities

Day off to volunteer

Qualifications

• 8+ years of experience in legal roles focused on payments and technology.
• In-depth knowledge of regulatory frameworks like PCI DSS and AML regulations.
• Proven experience negotiating and managing complex contracts.

Responsibilities

• Provide legal support to the payments team on compliance with laws.
• Negotiate contracts regarding technology and payment services.
• Stay updated on regulatory changes affecting the payments industry.

Skills

Negotiation

Compliance

Legal Advice

Contract Management

Collaboration

Education

Law degree (LL.B or J.D.)

Membership in a Canadian provincial bar

Job description

Central 1 cooperatively empowers credit unions and other financial institutions to deliver banking choice to Canadians. Central 1 provides critical services at scale to enable a thriving credit union system. We do this by collaborating with our clients, developing strategies, products and services to support the financial well-being of their more than 5 million diverse customers in communities across Canada. For more information, visit www.central1.com.

What we offer:

• Work-life flexibility
• Hybrid workenvironment
• One time allowance to set up your office for remote first employees
• Variable annual incentive plan
• Generous annual vacation allotment
• Top-notch flexible benefits planincluding family building and gender affirmation
• Retirement Plan, matched contributions at 6%
• Access toa learning platform and educational assistancesupport
• Access to a virtual wellness platform
• Career development opportunities
• Wellness Flex Fund to support personal interest and activities
• Day off to volunteer in your community andother paid time off options
• Corporate discounts

*subject to employment agreement

Job Summary:

As a Senior Legal Counsel at Central 1, you’ll be a key leader within the legal team, working closely with the Chief Legal Officer and the business, in particular with the payments team, to provide expert legal support, with a strong focus on payments. You will guide payments stakeholders through complex legal matters, ensure compliance with regulatory frameworks, and drive high-impact projects. Your deep expertise in IP law, competition law, and payments will shape legal strategies that empower our payments team to innovate and grow. Join us to make a significant impact by supporting the payments business and leading with excellence in a dynamic, evolving industry.

What you’ll be doing:

Procurement & Vendor Management:

• Manage the acquisition of mission-critical goods and services through partnerships and vendors.
• Negotiate and structure agreements with key service providers, payment processors, and technology partners.

Anti-Spam, Privacy, and Data Protection:

• Ensure compliance with anti-spam, privacy, and data protection laws, including PIPEDA, provincial privacy regulations, and best practices.

Contract Management:

• Review, draft, and negotiate a wide range of contracts, including but not limited to:
• Technology agreements
• Agreements with payment processors
• Complex service and consulting agreements
• Joint venture and strategic alliance agreements
• Outsourcing, licensing, and service agreements
• Confidentiality agreements and non-disclosures
• Requests for Information (RFI) and Requests for Proposals (RFP)

Legal Guidance & Advisory:

• Provide expert legal advice on digital and technology initiatives, including cybersecurity, data sharing, blockchain/distributed ledger technology, artificial intelligence, machine learning, and payment systems.
• Advise on clearing and settlement risk models, privacy law, regulatory compliance, and payment products (credit cards, prepaid cards, digital wallets, and alternative payment methods).
  

Regulatory Compliance & Monitoring:

• Stay updated on regulatory changes affecting the payments industry, advising on necessary adjustments to contracts and business practices.
• Maintain a comprehensive understanding of regulatory bodies such as the Bank of Canada, OSFI, FINTRAC, and the Privacy Commissioner of Canada.

Familiarity with Key Regulations:

• Expertise in regulations such as PCI DSS, AML regulations, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), and consumer protection laws.
• Strong knowledge of Canada’s Personal Information Protection and Electronic Documents Act (PIPEDA) and related provincial laws.
• Deep understanding of the Canadian Payments Act, as well as the rules and bylaws of various payment systems.

Collaboration & Data Protection:

• Collaborate with internal teams to implement anti-fraud measures, cybersecurity protocols, and risk mitigation strategies.
• Draft and amend client agreements, disclosure materials, and related documentation to ensure enforceability and compliance with legal obligations.

What you’ll have:

• Law degree (LL.B or J.D.) and active membership in a Canadian provincial bar.
• 8+ years of experience in legal roles, with a focus on payments, financial services, and technology.
• In-depth knowledge of the payments industry, including familiarity with regulatory frameworks such as PCI DSS, AML, and privacy laws.
• Membership in good standing with the B.C. Law Society or the Law Society of Upper Canada.
• Proven experience negotiating and managing complex contracts.
• Excellent written and verbal communication skills with the ability to distill complex legal concepts into clear, actionable advice.
• Knowledge of provincial and federal financial institution regulation.
• Willingness to tackle matters outside of areas of expertise.
• Strong collaboration skills and experience working cross-functionally in a fast-paced environment.
• Ability to stay current with industry regulations and trends impacting the payments industry

Salary Range: $156,200-$190,000

The salary rang e represents the job rate determined for the successful candidate who is fully competent in the role. The actual salary will vary depending on market conditions and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training.

#LI-Hybrid

Central 1 is an equal opportunity employer and committed to building an inclusive workforce by creating an environment where everyone feels like they belong and has the opportunity to be successful. We welcome all applicants to join our diverse workforce and we will provide an accessible candidate experience including, but not limited to accommodations to interview sites and alternate formats upon request to our Recruitment team.