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Director of Legal

Novo

Novo

Legal
Miami, FL, USA · New York, NY, USA · Miami, FL, USA
Posted on Tuesday, December 12, 2023

We started Novo to challenge the status quo—we’re on a mission to increase the GDP of the modern entrepreneur by creating the go-to FinTech platform for small businesses (SMBs). Novo is flipping the script of the FinTech world, and we’re excited to lead the small business FinTech revolution.

We are looking for people of character. Pragmatic and capable people who want to see their work drive better outcomes for small businesses — the backbone of our economy. You will join our team and work on the building blocks of everything Novo ships.

Why Novo?

  • Novo is a rapidly growing series B fintech startup with a mission-driven team that’s passionate about helping every small business in America
  • Positive, inclusive, supportive culture cheering you on your journey
  • We work with very new technologies and architecture patterns
  • We provide learning and development budgets to help you grow and bond with your team
  • Able to work from the office 3+ days per week
  • Offices in NYC, Miami, Delaware, India, and Colombia

About the Role:

The Director of Legal, reporting into the EVP of Operations (Esq.), will develop and maintain the company’s legal strategy and assess potential risks, covering the following areas: commercial agreements; regulatory requirements and filings; product development; finance; risk management; insurance; privacy and data security; marketing; litigation; employment; and other. We are seeking an attorney who enjoys wearing multiple hats, proactively takes on new responsibilities and is excited by the challenge of providing legal services at a dynamic, fast growing fintech company.

Responsibilities:

  • General legal function management
  • Contracts and Terms (partner and customer);
    • Bank Management- Manage, modify, and review terms of engagement
    • Customer Terms- Modify customer terms of service or deposit program and any new material products launched
    • Customer Promotions and Initiatives- Structure, draft and monitor promotional materials and other short term initiatives
    • General Contract and Advisory- Addresses any other general or ad-hoc legal queries/projects from internal business stakeholders as needed, including contract drafting/review
  • Policy drafting and regulatory audit support;
    • P&P- Work with compliance team to audit policies and procedures
    • Audits- Work with compliance team during recurring reviews and audits by partners and regulators
  • Product development and management advisory;
    • Bank and Vendor Structuring- Work with senior management to manage banking tech stack, with bank partners and other vendors, that allows Novo to innovate
    • New Product Development - Work with senior management to develop product roadmap around how creative/new products and features fit into regulatory constraints
    • Existing Product Compliance - Provide legal guidance across product categories to leaders in business, product and technology departments to, ensuring compliance with regulations and partner standards
  • Complaints, Enforcement, and Litigation;
    • Customer & Bank Risk - Manage customer complaints, court subpoenas, regulatory inquiries and actions, chairing appropriate Novo risk committees
    • Risk and Corporate Advisory - Provide legal and commercial advice to management and other key individuals in the company with respect to our business activities as well as general corporate, litigation and regulatory matters
    • Litigation - Supervise litigation matters
    • Regulatory Management - Manage relationships with regulators
  • Labor & Employment

Requirements for the Role:

  • 5-8+ years of relevant law firm or in-house experience; practice needs to have been operational heavy
  • JD Degree from an accredited law school and license in good standing to practice law in the United States
  • An operator ability, not just a counselor
  • A framework thinker
  • Comfortable in dynamic, fast-paced environments, with an entrepreneurial spirit and willingness to roll up your sleeves and do the work
  • Excellent problem solving and communication skills that allow you to make clear, pragmatic recommendations
  • Excited by our mission to increase economic upside for Americans by supporting entrepreneurship and small businesses
  • Entrepreneurial attitude and experience with, or the ability to adapt to, a rapidly growing start-up with associated complexities and ambiguities
  • Effective project management skills with the ability to oversee multiple projects at any given point in time
  • Must be a quick learner and possess strong leadership skills
  • Strong time management, prioritization, work organization and multitasking skills with a drive for efficiency, accuracy and risk management controls required

Nice to Have, But Not Required:

  • Experience working for a Federal Banking Regulator or banking fintech
  • Knowledge of banking, consumer, and small business finance laws and regulations, including UDAAP, Fair Lending, ECOA, Reg E, BSA/AML, data privacy and protection, payments, etc
  • Experience in providing legal counsel for the development and launch of consumer-facing products or services
  • Experience managing regulatory audits, examinations and litigation matters

Salary Range (NYC): $205K-230K annualized salary. This range is not inclusive of discretionary bonus or equity package, offers to be determined based on experience, education and skill set. The range for this same position may be lower or higher in markets outside of New York City

LI-CD1 #LI-Hybrid

Novo values diversity as a core tenet of the work we do and the businesses we serve. We are an equal opportunity employer, indiscriminate of race, religion, ethnicity, national origin, citizenship, gender, gender identity, sexual orientation, age, veteran status, disability, genetic information or any other protected characteristic.