Regulatory (Payment) Legal Counsel

Paysend; London; On-site; GBP 70,000 - 90,000; Full time

Job summary

A leading company in the payments industry is seeking a Payment Counsel to join their Global Legal Team. This role involves providing legal expertise on payment regulations, ensuring compliance, and collaborating across various teams to optimize legal operations. The ideal candidate will have a strong background in banking and payments regulations, excellent negotiation skills, and the ability to work effectively in a fast-paced environment. This position offers opportunities for career growth and the chance to make a global impact.

Benefits

Competitive salary

Benefits

Flexible work arrangements

Internal mobility

Mentoring programs

Continuous learning opportunities

Qualifications

• Substantial practical experience in banking and payments regulatory regimes.
• Deep understanding of global payment regulations and compliance standards.

Responsibilities

• Provide legal advice on payment regulations and compliance obligations.
• Draft, review, and negotiate customer agreements related to payment services.
• Lead internal audits and risk assessments related to payment operations.

Skills

Negotiation

Problem Solving

Communication

Education

UK Bachelor’s or Master’s degree in Law

Job description

About The Role:
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.

What You'll Do (Responsibilities):

Payments Legal Expert:

• Provide legal advice on payment regulations, licensing requirements, and regulatory compliance obligations across jurisdictions where the Group operates or plans to implement new product developments globally.
• 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), and 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 (collaborating with the 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.

What You'll Need To Be Successful In This Role:

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 regimes, applying such matters to business decisions, product design, and customer, supplier, and product terms.
• Understanding of the regulatory perimeter and financial services permissions, including advising on license applications.
• Financial services business models, particularly e-money models.
• Developing customer agreements (ToS) to ensure regulatory compliance.

Skills:

• 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.

Key Competencies:

• 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.

Would be considered as a plus:

• Experience in a high-growth or scale-up environment.
• Experience in product development.
• Experience advising on digital assets, their operations, and current regulation.
• Experience advising on legal matters such as outsourcing arrangements, corresponding banking, the APP scam regime, Consumer Duty, DORA (EU), etc.
• Experience advising on intra-group arrangements, including governance matters.
• Awareness of payment systems and their rules.

Why Join Paysend?

• Make a Global Impact: Directly impact millions of users worldwide.
• Accelerate Your Career: Benefit from internal mobility, mentoring programs, and continuous learning opportunities.
• Thrive in a Connected, Global Organization: Collaborate with colleagues across our international hubs.
• Embrace a Principle-Driven & Focused Culture: Work in an organization guided by strong principles and values that help you achieve more.
• Enjoy Competitive Compensation and Benefits: Receive a competitive salary, benefits, and flexible work arrangements.