Full-Time

Product Counsel

Posted on 8/23/2024

DailyPay

DailyPay

501-1,000 employees

Provides daily access to earned wages

Fintech
Financial Services

Compensation Overview

$150k - $200kAnnually

+ Variable Incentive Compensation + Stock Options

Mid

Remote in USA

Category
Legal
Legal & Compliance
Requirements
  • 3+ years of legal experience, including practicing in a corporate area at a top law firm and/or in-house experience in a technology-related or start-up environment
  • Interest in integrating with and advising product teams on the development of new, innovative and compliant products in a quickly evolving legal/regulatory landscape
  • Superb leadership, interpersonal, verbal, and written communication skills
  • Ability to multi-task, prioritize, and independently manage a high volume of work
  • Ability to move fast and thrive in a dynamic, fast-paced environment with a growing team
  • Sound legal judgment, commercial awareness, and business acumen
  • Highest degree of professionalism, integrity, and ethical judgment
  • Juris Doctor degree from an ABA-accredited, nationally recognized top law school and bar admission
Responsibilities
  • 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
  • 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. By giving employees the ability to access their wages as they earn them, DailyPay helps improve financial control and flexibility for workers. This approach is particularly beneficial in industries such as healthcare, retail, and restaurants, where high turnover rates are common. DailyPay's service has been shown to increase employee retention and satisfaction, with claims that it can save businesses millions in turnover costs. The goal of DailyPay is to enhance employee benefits and promote financial wellness, ultimately leading to a more engaged and stable workforce.

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

  • Increased demand for financial wellness tools boosts DailyPay's adoption in high-turnover sectors.
  • DailyPay's integration with Inn-Flow enhances employee satisfaction and retention in hospitality.
  • Ranking on Deloitte Technology Fast 500™ validates DailyPay's growth and market position.

What critics are saying

  • Competition from other fintech companies may dilute DailyPay's market share.
  • Regulatory scrutiny could increase compliance costs and operational challenges for DailyPay.
  • International expansion exposes DailyPay to foreign exchange risks and geopolitical uncertainties.

What makes DailyPay unique

  • DailyPay offers on-demand pay, improving employee retention and financial wellness.
  • The company integrates with industry-specific platforms, enhancing employee satisfaction and retention.
  • DailyPay's international expansion includes real-time cross-border payments, meeting global workforce needs.

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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

INACTIVE