Legal Counsel

About the role

This position is responsible for providing legal advice to the bank, including in the areas of payments, vendor contracts, lending, retail banking and deposit operations. Working proactively and collaboratively with bank employees and leadership, the Legal Counsel will be the subject matter expert for all applicable laws, regulations, regulatory guidance and examination manuals and ensure that effective processes, controls, documents, training, risk assessments, reports and procedures have been developed, completed, implemented, and maintained.

Responsibilities

• Ensures all policies, processes, forms, agreements, notices, letters, disclosures, and procedures used by the bank are in compliance with applicable laws, regulations, regulatory guidance, examination manuals and obligations to third parties.
• Offers legal advice on laws and regulations for all bank lines of business.
• Reviews, drafts and negotiates agreements with third parties.
• Supports the development and implementation of internal policies, governance frameworks, and best practices to ensure compliance with evolving financial and technology regulations.
• Provides legal support on disputes and regulatory inquiries involving financial institutions, working efficiently with external counsel as needed.
• Responds to inquiries from bank employees to address legal and compliance matters.
• Maintains in-depth knowledge of existing and potential laws and regulations that may impact the bank and educate and inform management and the Board of Directors on legal risks.
• Develops key performance indicators (KPIs) and key risk indicators (KRIs) for all areas of responsibility.
• Risk assesses new business lines, third parties, strategies, systems, products and services and other changes identified by bank leadership and advises on ways the bank can maintain an effective compliance with applicable laws and regulations in pursuit of those changes.
• Safeguards the bank's records in accordance with all applicable laws and regulations.
• Maintains in-depth knowledge of regulatory agency priorities, recent enforcement actions and proposed changes to any applicable laws and regulations and provides updates to bank employees and leadership on an ongoing basis to keep the organization informed.
• Supports the Banking-as-a-Service (BaaS) vertical through the development of a compliance oversight program for each fintech in coordination with the Vice President of Fintech and the Chief Risk Officer.
• Supports the Chief Risk Officer in coordinating and preparing for regulatory agency exams, audits, and reviews.
• Develops and maintains up-to-date procedures for all areas of responsibility.
• Complies with all applicable banking laws and regulations, including, but not limited to, the Bank Secrecy Act, USA Patriot Act, and related anti-money laundering statutes; and, federal consumer protection legislation and regulations.

Requirements

• A Juris Doctor (JD) degree from an accredited law school required.
• Ten (10) or more years of legal and regulatory experience in financial services required.
• Licensed and in good standing to practice law in Missouri required.
• Excellent research skills and understanding of banking regulatory requirements.
• Excellent written and oral communication skills.
• Excellent time management and organizational skills.
• Adaptable and able to meet deadlines on assignments, juggle multiple demands, and work with all types of individuals up to and including the CEO.
• Strong skills in negotiating, relationship building, problem-solving, and timely problem escalation.
• Detail-oriented but able to quickly grasp the big picture.
• Keeps confidential information confidential.
• Attends outside compliance training to maintain compliance skills and knowledge and/or compliance certifications.
• Must be proficient in the use of personal computer systems, internet applications and electronic mail, and various Windows based software applications to include, but not limited to, banking application software, Word, and Excel.