Assistant General Counsel

The role:

SoFi is seeking an attorney with a strong background in financial regulation, with a focus on consumer credit products and commercial payments services, to serve as Assistant General Counsel. The role will be focused on assisting the Associate General Counsel in providing legal counsel to our SoFi Credit Card and Commercial Payment Services businesses, in addition to providing counsel on other general legal matters for other parts of the SoFi enterprise, as required. The ideal candidate has a strong financial regulatory background in credit card products, payments, and bank sponsorship arrangements with financial-technology (FinTech)  companies, including prior experience with a law firm and/or as in-house counsel for a major financial institution.

What you’ll do: 

• Advise the Credit Card business on all matters pertaining to SoFi’s credit card products, including but not limited to the development, launch, and maintenance of credit card products, compliance with advertising and marketing requirements, credit reporting and debt collection practices, compliance with state and federal statutes that prohibit unfair, deceptive, or abusive acts and practices, privacy and data security, federal preemption issues, and electronic delivery of credit-related disclosures. 
• Advise the Commercial Payments Services business in structuring, documenting, and negotiating sponsorship arrangements with FinTech companies and provide ongoing legal counsel to business leaders regarding existing sponsorship arrangements. 
• Draft customer agreements, terms and conditions, and disclosures, and review user experience (UX), marketing assets, and customer communications for Credit Card and Commercial Payment Services businesses.
• Advise on all matters pertaining to supervision of SoFi’s Credit Card and Commercial Payment Services businesses, including regulatory compliance examinations and preparing and communicating management responses to examination reports and supervisory letters.
• Advise SoFi on the impact of proposed and new regulations, interact with regulators, and work with business partners and compliance across multiple functional areas within the SoFi enterprise. 
• Research and evaluate consumer credit and commercial payments laws and regulations, guidance, interpretive letters, and opinions in the context of assessing risk factors regarding business decisions, operations, and preparing corporate policies and practices.
• Advise business leaders on contracts relating to the SoFi Credit Card and Commercial Payment Services businesses. Research unique legal issues impacting SoFi by identifying applicable statutes, judicial decisions, and codes.
• Keep abreast of legislative changes that may affect SoFi and its affiliates and the SoFi Credit Card and Commercial Payment Services businesses.
• Other assignments on an ad hoc basis.

 

What you’ll need:

• You should be an intellectually curious self-starter with strong written and oral communication skills
• JD from an accredited law school
• Member of the applicable bar
• 4 to 6  years of experience in financial regulation, with a focus on credit card products, payments, and bank sponsorship arrangements with FinTech companies, including experience with a major law firm and/or in-house counsel experience with a major financial institution. 
• Experience with consumer financial regulations concerning credit card products, including but not limited to Regulation Z (Truth in Lending), Regulation V (Fair Credit Reporting), Regulation B (Equal Credit Reporting Act), Telephone Consumer Protection Act (TCPA), Military Lending Act (MLA), Servicemembers Civil Relief Act (SCRA), Fair Debt Collection Practices Act (FDCPA), Equal Credit Opportunity Act (ECOA), Unfair, Deceptive or Abusive Acts or Practices (UDAAP), Regulation P (Privacy of Consumer Financial Information), Gramm-Leach-Bliley Act, and Regulation E (Electronic Funds Transfers).
• Experience with payments rules and regulations and advising financial institutions in structuring, documenting, and negotiating sponsorship arrangements with FinTech companies. 
• Familiarity with current regulatory and risk management topics in consumer financial services and commercial payments law and risk management related matters and demonstrated knowledge of applicable regulations and supervisory expectations.

Nice to have:

• Experience with deposits products and applicable regulations (e.g., FDIC rules).