Legal Counsel, Payments

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GENERAL FUNCTION

This position provides legal support for Fifth Third Bank’s Payments business unit with respect to a broad range of products and services provided to commercial customers and consumer customers to help them meet their payment needs.  The attorney supports Payments Product, Sales, and Operations teams, as well as their marketing and other partners, with a key focus on helping them achieve their business objectives with an appropriate risk/reward balance.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Provide legal counsel on a wide range of consumer and commercial payments products and services, including credit, debit, prepaid, and private label cards, merchant services, card issuing, and rewards programs.
• Advise business partners on product-specific laws, regulations, and risk considerations, including compliance with OCC, FRB, CFPB, and other regulatory bodies.
• Interpret and apply key regulations such as, Card Act (Reg. Z), Truth in Lending Act (TILA), UDAAP, Electronic Funds Transfer Act & Prepaid Rules (EFTA/Reg. E), and Durbin Amendment (Reg. II), .
• Draft and negotiate a variety of agreements, including, consumer-facing terms and disclosures, vendor and partner contracts, agreements for new products and services, card network sponsorship agreements, and account portfolio transaction documents.
• Monitor and interpret regulatory changes, providing ongoing guidance on their impact to products, services, and operations.
• Respond to business inquiries regarding legal risk and provide actionable recommendations within the appropriate legal framework.
• Provide reporting and updates to division leadership on material legal matters and decisions.
• Partner with Legal, Risk, Compliance, and line of business teams to ensure appropriate issue escalation and risk mitigation.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

• Minimum 3 years of law firm and/or internal counsel experience supporting the financial services industry, specifically focused on credit cards and debit cards preferred
• J.D degree from accredited law school required
• Admission to a state bar.
• Good communication skills, both written and verbal.
• Ability to interface successfully with senior management.
• Good negotiation skills.
• Knowledge of the areas of expertise including technical knowledge.
• Good issue spotting, risk assessment and problem-solving skills.
• Research capabilities.
• Must have prior regulatory experience or experience working for a large financial services institution.
• Bachelor’s degree required

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.