The Clearing House Payments Company, LLC (TCH) is a bank owned, industry utility that operates four payment systems: a high value funds transfer system (CHIPS), the country’s first real-time, end to end system (RTP), an automated clearinghouse (EPN), and a check image exchange. TCH also operates related businesses, including a tokenization service (STE), a regional payments association (TCH RPA), and a check image rules organization (ECCHO).
Because of its role in payments, TCH is regulated and supervised as a systemically important financial market utility under Title VIII of the Dodd Frank Act and as a systemically important service provider under the Bank Service Company Act. As such, TCH is required to comply with various regulations and to meet expectations set out in supervisory guidance. This posting is for a position with the Legal Regulatory Matters team, which is responsible for ensuring that TCH takes the steps necessary to comply with applicable regulations. Specific examples of responsibilities that fall under Regulatory Matters include TCH’s Recovery and Wind Down Plan, Equity Plan, and Cyber Resiliency Plan, CHIPS’ Tiered Participation analysis and Public Disclosure Statement, and CPMI end point security and cyber security guidance. While many of these areas require subject matter experts to contribute to and develop required artifacts, the Regulatory Matters team is ultimately responsible for the quality and the timely submission of the artifacts.
While the primary responsibilities of this position fall under the Regulatory Matters team, there may be opportunities to provide legal support to some of TCH’s payments business lines.