Deposits and Electronic Payments Attorney

The Bank Regulatory and Deposits Legal team seeks an experienced attorney to be based in the firm’s New York or Washington, D.C. office to support Goldman Sachs’s U.S. deposit and electronic payments businesses. Bank Regulatory and Deposits Legal advises the firm globally from a U.S. bank regulatory perspective and provides legal, regulatory, reputational and transactional support to our consumer deposit businesses.

The attorney will advise on all aspects of legal and regulatory matters regarding consumer deposits and electronic payments, including performing research on complex issues across multiple businesses and products; reviewing product designs and providing strategic input; drafting agreements, disclosures, and documentation; coordinating with business, legal and compliance colleagues on policies, procedures, controls, and assessments; supporting relationships with vendors and other key third-parties; engaging external counsel; and providing general legal support to functions throughout Goldman Sachs. 

The attorney will be a trusted advisor to our deposit and payments businesses and other Legal, Compliance & Risk colleagues globally, and is expected to forge substantive relationships throughout the firm as well as externally to support the growth of the deposits platform and electronic payments activities.

Responsibilities

• Advising business, legal, compliance and other stakeholders throughout Goldman Sachs on legal and regulatory matters regarding U.S. consumer deposits electronic payments, digital interfaces, and related products, services, and controls
• Providing comprehensive legal, regulatory, contractual, and transactional support to Goldman Sachs’s U.S. deposit-taking businesses on new and existing products and services 
• Supporting management of the firm’s U.S. bank subsidiary in understanding and meeting legal, regulatory, contractual, payment system, and related obligations
• Drafting, reviewing, coordinating, and maintaining agreements, disclosures, and documentation for deposit and electronic payment products across the firm’s U.S. businesses 
• Monitoring legal, regulatory, and market developments, including participating in advocacy on proposed rules through engagement with internal stakeholders and external trade associations
• Working with businesses, compliance, risk management, and other support functions to develop, review, and maintain policies, procedures, and controls
• Coordinating with Legal counterparts throughout Goldman Sachs on identification, implementation, and change management of legal and regulatory requirements involving deposit accounts and electronic payments
• Support cross-enterprise initiatives and projects

Qualifications

• Juris Doctor (J.D.) and active admission to practice law in at least one U.S. jurisdiction and able to serve as in-house counsel in Goldman Sachs’s New York or Washington, D.C. office
• 5+ years of experience at a law firm or in-house at a financial institution providing legal advice and support regarding U.S. deposit or electronic payment products and services
• Legal expertise in U.S. deposit and electronic payments law and regulation, including Regulation E (EFTA), Regulation DD (Truth in Savings), Regulation CC (Funds Availability), FDIC law and regulations, and UDAAP standards
• Experience advising on electronic payment systems (Nacha, wire transfer, RTP, card networks, and/or emerging payment systems) and associated billing and transaction disputes
• Ability to work proactively and independently, collaborate effectively with stakeholders throughout the firm, including senior leadership, work well in high-pressure situations, juggle priorities, and manage external counsel
• Ability to translate highly technical and complex statutory requirements into clear, actionable advice for technology, operations, and business stakeholders
• Excellent judgment, a solution-oriented mindset, and the ability to assess and pragmatically advise on risk