Full-Time
Head of Legal and Compliance
Confirmed live in the last 24 hours
Clair
51-200 employees
Provides on-demand wage access for employees
Senior
Remote in USA
- 6-8 + years of combined experience at a top-tier law firm and/or in-house legal department, with a focus on regulatory compliance, federal preemption issues, fintech counseling, consumer protection and data privacy matters;
- Experience providing product counseling for technology companies, digital lending, wallets or payments systems, alternative payments, BNPL, or other similar consumer financial services;
- Understanding of federal and state laws related to consumer privacy and data use;
- Deep understanding of the regulatory landscape for consumer credit products and services; including TILA/Reg. Z, UDAAP, ECOA/Reg. B, FCRA/Reg. V, EFTA/Reg. E, payday lending, short-term lending, and similarly applicable state laws;
- Experience working with US financial services regulators (state or federal);
- Persistence, drive, and a goal-focused mindset as you own projects from initiation to completion;
- Strong attention to detail and ability to effectively prioritize tasks within a fast-paced environment;
- JD from a top law school and member in good standing of a US state bar.
- Provide comprehensive first-line legal support for initiatives related to Clair’s consumer credit products and services, advising on legal and regulatory issues relating to consumer finance, data privacy, payments, and other relevant areas.
- Work cross-functionally to coordinate legal advice and drive optimal outcomes for the business.
- Serve as a legal thought partner to product, design, marketing, engineering and data teams, ensuring that consumer protection, licensing requirements, and privacy considerations are integrated into new initiatives from the outset.
- Build out Legal & Compliance team to support all commercial and regulatory compliance needs, driving hiring, onboarding and day-to-day management of the existing and future team members.
- Draft and negotiate agreements and terms to support strategic partnerships with fintech partners and third-party providers.
- Guide the business by navigating the regulatory landscape for Clair’s consumer credit products. Provide legal advice on product design and strategy and proactively identify risks and recommend mitigation strategies.
- Be an advisor to the company and a critical part of the growth of the company. As we grow and succeed, you will help scale the development of our legal department and the entire company.
Clair provides a service that allows employees to access their earned wages before the traditional payday, without any fees or interest. This service is especially useful for hourly workers and those in gig economy jobs who may need immediate access to their earnings for unexpected expenses. Clair partners with employers to integrate its service into existing HR and payroll systems, allowing employees to access their wages through a platform that includes a virtual or physical debit card. Unlike many competitors, Clair does not charge fees or interest for its wage advance service, making it an attractive option for companies looking to enhance employee financial well-being. The goal of Clair is to improve financial wellness for employees by offering a flexible solution for accessing earned wages.
Company Stage
Seed
Total Funding
$43.8M
Headquarters
New York City, New York
Founded
N/A
6 month growth
↓ -1%1 year growth
↓ -1%2 year growth
↑ 1%
Simplify's Take
What believers are saying
- Clair's recent $175 million funding round, backed by Pathward, positions it for significant growth and expansion in the on-demand pay sector.
- The company's partnerships with employers like Air General and DogTown demonstrate its ability to enhance employee satisfaction and financial well-being.
- Clair's innovative approach to earned wage access, combined with its compliance focus, positions it as a leader in the evolving fintech landscape.
What critics are saying
- The regulatory landscape for earned wage access services is evolving, and changes could impact Clair's business model and operations.
- Competition from other fintech companies offering similar services could challenge Clair's market position.
What makes Clair unique
- Clair's fee-free and interest-free model for accessing earned wages sets it apart from competitors who often charge fees, making it a more attractive option for employees.
- The integration of Clair's services into existing HR and payroll systems offers seamless access to earned wages, enhancing its appeal to employers.
- Clair's focus on financial wellness and responsible spending, supported by its business model, aligns with its mission to prevent employees from falling into debt cycles.
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