Full-Time

Associate General Counsel

Product Counsel

Confirmed live in the last 24 hours

DailyPay

DailyPay

501-1,000 employees

Provides daily access to earned wages

Fintech
Financial Services

Compensation Overview

$200k - $270kAnnually

+ Variable Incentive Compensation + Stock Options

Senior

Remote in USA

Category
Legal
Risk & Compliance
Legal & Compliance
Requirements
  • 7-10+ years of legal experience, preferably at both a top law firm and as in-house commercial, regulatory or product counsel in financial services or another regulated industry
  • Experience working with companies in a regulated industry, preferably the payments industry (and, in particular, working with EFTA/Reg E and TILA/Reg Z; Gramm-Leach-Bliley; UDAP/UDAAP; ESIGN Act; BSA/AML/OFAC; money transmission rules; card issuing, program management or processing; association/network/NACHA rules; PCI-DSS; privacy; and/or data security), but comparable experience in other industries will be considered
  • Strong interest in integrating with and advising product teams on the development of new, innovative and compliant products in a quickly evolving legal/regulatory landscape
  • Strong interest, and preferably proven ability, in leading and managing other lawyers effectively, providing guidance, mentorship and support while fostering a collaborative and inclusive work environment
  • Superb leadership, interpersonal, verbal, and written communication skills
  • Ability to multi-task, prioritize, and independently manage a high volume of work
Responsibilities
  • Serve as a trusted advisor to DailyPay’s product development team, playing a key role in building and launching innovative and compliant products
  • Draft, review, and negotiate a broad range of complex vendor agreements and documentation to support DailyPay’s evolving business, including terms of use, master services agreements, statements of work, technology licensing agreements, partnership agreements, payment network/association agreements, and financial institution partnership agreements
  • Review consumer-facing communications and disclosures with an eye toward clarity, ease of understanding, and legal and regulatory compliance
  • Ensure that DailyPay’s policies and procedures are followed and that all commercial agreements comply with company policies, other contractual obligations, and applicable laws and regulations, including data privacy and data security requirements
  • Engage outside counsel as needed to ensure efficient completion of legal assignments within budget constraints
  • Provide legal and regulatory support to senior management and other company stakeholders
  • Collaborate in the development of business processes and procedures to help scale DailyPay’s business

DailyPay provides a service that allows employees to access their earned wages on a daily basis instead of waiting for traditional pay periods like bi-weekly or monthly. This service works by partnering with businesses, which pay a fee to offer their employees the option of on-demand pay. Employees can withdraw their earned wages whenever they need, giving them more control over their finances and increasing their time on the job by an average of 27%. DailyPay stands out from competitors by focusing on sectors with high turnover rates, such as healthcare, retail, and restaurants, where its service can significantly improve employee retention and satisfaction. The goal of DailyPay is to enhance employee financial wellness and help businesses reduce turnover costs, potentially saving millions annually.

Company Stage

Debt Financing

Total Funding

$272.1M

Headquarters

New York City, New York

Founded

2016

Growth & Insights
Headcount

6 month growth

8%

1 year growth

18%

2 year growth

25%
Simplify Jobs

Simplify's Take

What believers are saying

  • DailyPay's service has been shown to increase employee time on the job by an average of 27%, which can significantly improve business operations and reduce turnover costs.
  • The company's recent $175 million funding round and 75% increase in valuation to $1.75 billion indicate strong financial health and growth potential.
  • Expanding its earned wage access solution to small businesses opens up a new market segment, potentially driving further growth and adoption.

What critics are saying

  • The departure of CEO Kevin Coop and transition to interim CEO Stacy Greiner could lead to strategic and operational uncertainties.
  • The competitive landscape in the fintech and employee benefits sectors is intense, with new entrants and existing players potentially eroding DailyPay's market share.

What makes DailyPay unique

  • DailyPay's focus on providing daily access to earned wages sets it apart from traditional payroll services that operate on bi-weekly or monthly cycles.
  • The company's service is particularly valuable in high-turnover industries like healthcare, retail, and restaurants, addressing specific pain points related to employee retention and financial wellness.
  • DailyPay's partnerships with major payroll providers like ADP and Acrisure enhance its market reach and integration capabilities, making it a more attractive option for businesses.

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Benefits

Competitive Pay

Stock Options

401(K) with 4% match

Unlimited PTO

Medical, Dental & Vision Plans

Daily Seamless Credit

Free LinkedIn Learning

Annual Learning Stipend

DailyPay for DailyPay