Senior Legal Counsel

Overview

An organization is seeking a Senior Legal Counsel (Legal Counsel Principal) specializing in Banking Regulatory & Financial Services to join their legal team. This senior individual contributor role involves providing expert legal advice on banking regulatory, financial services, BSA/AML, payments, bank partnerships, financial crimes, and compliance matters. The role serves as a trusted adviser to senior business and functional leaders across the organization.

Responsibilities

• Serve as a senior legal adviser on banking regulatory, financial services, payments, BSA/AML, financial crimes, and compliance matters.
• Provide legal support for financial services products, payments, money movement, treasury services, bank partnerships, and related operational activities.
• Advise on federal and state banking laws and regulations, regulatory risk, and compliance requirements.
• Support BSA/AML-related legal matters, including governance, controls, customer due diligence, beneficial ownership, suspicious activity reporting frameworks, transaction monitoring, escalation processes, and related compliance obligations.
• Advise on requirements and regulatory expectations under the Bank Secrecy Act, USA PATRIOT Act, AML Act, FinCEN regulations, and related federal banking agency guidance.
• Partner closely with Compliance, Risk, Product, Finance, Security, and Operations teams on strategic initiatives and day-to-day legal issues.
• Support responses to regulatory inquiries, bank partner requests, audits, examinations, remediation efforts, and other regulatory matters.
• Draft, review, and negotiate agreements related to financial services, bank and vendor relationships, payment services, treasury services, and compliance matters.
• Monitor legal and regulatory developments, enforcement trends, supervisory guidance, and industry developments, providing practical guidance to internal stakeholders.
• Support policy development, training, governance materials, board or committee updates, and other legal and compliance initiatives.

Requirements

• Juris Doctor (J.D.) degree and active membership in at least one U.S. state bar.
• 15+ years of legal experience advising on banking regulatory, financial services, BSA/AML, payments, or financial crimes compliance matters.
• Deep knowledge of federal banking regulations, the Bank Secrecy Act, USA PATRIOT Act, AML Act, FinCEN regulations, customer due diligence, beneficial ownership, suspicious activity reporting, and transaction monitoring requirements.
• Experience working with or advising banks, regulated financial institutions, fintech companies, payments companies, federal or state regulators, or law firms on banking and financial regulatory matters.
• Experience with federal regulators, regulatory examinations, supervisory requests, audits, remediation efforts, enforcement matters, or bank partner diligence.
• Experience supporting bank partnerships, payments, money movement, treasury services, payroll-related financial services, or other regulated financial products preferred.
• Excellent judgment, executive presence, and the ability to translate complex legal requirements into clear, practical advice.
• Strong drafting, communication, negotiation, and stakeholder management skills.
• Ability to operate effectively in a fast-paced, cross-functional environment.

Preferred Qualifications

• Experience advising on cross-border payments, international funds flows, or global financial services operations is a plus.

Compensation & Benefits

• Competitive pay and benefits package.
• Comprehensive wellness initiatives.
• Generous time away from work programs.
• Opportunities for personal and professional growth.
• Support for community impact through volunteer days and charitable initiatives.

Note: The salary range provided during the hiring process is a guide. Final compensation may vary based on bonuses, incentives, experience, skills, budget, and location.

Location

This role is based in Toronto, Ontario, and Minneapolis, Minnesota, with operations across North America, Europe, Middle East, Africa (EMEA), and the Asia Pacific Japan (APJ) region.