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Vice President and Associate General Counsel

Position: Vice President and Associate General Counsel
Reports To: EVP General Counsel
Location: New York, NY

Position Summary:

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.

Qualifications Required:

  • Licensed NY attorney (or eligible to be waived into the NY bar)
  • JD from well-regarded law school
  • 10 years of legal experience, including experience working for an entity supervised by one or more Federal Banking Regulators or working for a Federal Banking Regulator
  • Understanding of the regulatory and supervisory regimes applicable to financial institutions, systemically important financial market utilities, and bank service companies
  • Strong writing, analytical, and organizational skills
  • Collaborative with strong influencing and interpersonal skills 
  • Ability to work independently and manage multiple projects under tight timeframes

Qualifications Desired:

  • Payments law experience, especially with ACH
  • Ability to concisely communicate legal concepts to non-lawyers
  • Experience leading group discussions and developing consensus

Essential Functions and Responsibilities:

  • Serves as a subject matter expert with respect to regulatory requirements applicable to TCH and provides internal training to relevant stakeholders regarding regulatory requirements as needed
  • Establishes and maintains strong relationships with TCH’s Federal Banking Regulators
  • Establishes and maintains strong relationship with the Risk team and key business clients and remains informed about business developments
  • Creates and maintains calendar of regulatory submissions/ plans/ updates that need to be made
  • Organizes resources, sets timeframes, and drives submissions based on calendar
  • Stays up to date on regulatory proposals and changes that impact TCH as a regulated entity; summarizes and communicates changes to internal stakeholders; assists in projects to implement changes to TCH’s policies and procedures as a result of regulatory changes
  • Legal writing/ review of key regulatory deliverables such as TCH’s Cyber Resiliency Plan, Recovery and Wind Down Plan, and Equity Plan

Candidate should be self-motivated, well-organized and detail-oriented, collegial and able to handle numerous tasks simultaneously. The position would be well-suited to a candidate who thrives in a fast-paced environment and who is comfortable interacting with examiners and lawyers from the Federal Banking Regulators.  S/he must be able to take initiative, prioritize with minimal supervision and work independently as well as part of a team.

Non-essential functions: 

  • Attendance at a payment-related conferences
  • Occasional public speaking

Physical Demands and Work Environment:

Work is generally sedentary in nature, but may require standing and walking. The working environment is generally favorable. Lighting and temperature are adequate, and there are no hazardous or unpleasant conditions caused by noise, dust, etc. Work is generally performed within an office environment, with standard office equipment available.

Apply Below*:

  • A letter of interest describing your experience and interest in the position
  • Your resume
  • Names and contact information of three references, or three letters of reference

* Please submit a single application per position.

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