Product Counsel, Banking

Avant is looking for a motivated, experienced product counsel (banking) to join our legal regulatory team. Our new regulatory attorney will build strong relationships among teammates and business partners and will collaborate closely with product managers and cross-departmental leadership to provide guidance on Avant-branded banking products.

What you'll do at Avant:

• Help build a best-in-class digital platform and advise on Avant’s suite of financial product offerings, focusing on our banking program.

• Serve as a subject matter expert on fintech regulatory issues and providing guidance on banking products, including consumer protection, payments, and money transmission laws and licensure. 

• Partner with Avant business teams to provide legal, business, and strategic advice on the development and launch of new products, features and changes to existing products.

• Advise on Banking-as-a-Service (BaaS) partnerships and support relationships with partner banks, federal and state regulators (e.g., CFPB, OCC, FDIC), and payment networks.

• Ensure compliance with applicable federal and state laws, in close collaboration with colleagues in the legal and compliance teams.

• Draft and review consumer-facing disclosures, terms of service, and marketing materials for banking products to ensure compliance with all applicable regulations.

• Monitor new legislation and changes to existing legislation that have the potential to impact Avant’s business, and stay apprised of the regulatory environment.

• Work cross-departmentally with business stakeholders and members of Avant’s leadership team.

• Work closely with Compliance Department staff to provide legal guidance and interpretations in connection with the Compliance Management System’s functions (e.g., Advisory, Testing, BSA/AML, Risk Assessments).

• Respond promptly to a wide range of complex legal requests and coordinate closely with legal department colleagues to ensure the swift delivery of smart, practical advice.

• Operate in a fast-paced, demanding environment and manage multiple projects to meet Avant’s strategic goals.

• Other tasks as assigned.

Why you’re a fit at Avant:

• J.D. degree with 4-6+ years of legal experience practicing in financial services regulatory law.

• Experience in-house with a consumer financial services business or a fintech company highly preferred.

• Direct experience supporting consumer banking products and providing legal advice on fintech partnerships.

• Direct experience working with federal and state regulators (e.g., CFPB, OCC, FDIC, and state banking departments) is highly preferred.

• Experience working with cross-functional teams.

• Familiarity with laws and regulations applicable to Avant and financial services, including the Dodd-Frank Act, UDAAP, GLBA, FCRA, EFTA (Regulation E), TISA (Regulation DD), BSA/AML, money transmission laws (MTLs), and payment network rules.

• Excellent judgment, clear communication, and business pragmatism.

• Intellectual curiosity and flexibility.

• Team-oriented and collaborative.

• Superior organizational and project management skills.

• Active and in good standing in one State Bar in the United States.

• Ability to obtain a legal license in good standing in the state of Illinois, e.g., Illinois Board of Admissions, Rule 716 Limited Admission of House Counsel or Rule 705 - Admission on Motion General Information.

This role is based on our downtown Chicago Office, located in the Merchandise Mart. We highly value collaboration and our hybrid schedule (M, T, Th in-office) enables flexibility to balance work and individual priorities.

Compensation Range:

The base salary range for this job is USD $150,000 - USD $190,000 / Year

Employees new to Avant typically come in below the midpoint of the pay range. The compensation range is based on the level outlined in the job posting, and compensation decisions are dependent on each applicant's experience, skills and abilities. 

[If an outstanding applicant's experience and skill level is above or below the qualifications outlined in the job posting, we reserve the right to make an offer at a different level than the one listed in this job posting, which may have a different compensation range.]

This role is eligible for additional incentives, including an annual bonus. These rewards are allocated based on level, impact and performance in the role.

Our benefits include:

• Choice of great Medical, Dental, and Vision Insurance Plan options

• 401(k) match

• Flexible Time Off

• Flexible Work Environment - (i.e. Mon/Tues/Thurs in-person)

• Generous Paid Parental Leave, Adoption Assistance and Post-parental leave ramp-up program 

• Lunch Allowance (Fooda) and In-office Snacks

• Summer Fridays 

• Fun In-Office and Virtual Social Events

• And who doesn’t love the swag

Check out our Avant Blog!

We believe that a diverse set of backgrounds and experiences helps us create the most innovative solutions for our customers. We invite you to apply to our positions even if you do not meet 100% of the qualifications listed in the description. If you’re passionate about our mission and aligned to our values, we hope you’ll come contribute to our awesome culture.

Why Avant is the place for you:

At Avant, we believe our values make a difference:

Authenticity. We show up to work as our whole selves and make sure others can too.

Collaboration. We can only succeed when we do so as a team.

Problem-Solving. The harder the problem, the more satisfying the solution.

Customer. We are all owners of the customer experience.

Initiative. Plan. Adapt. Get Sh!t Done.

We believe that great ideas come from anyone and anywhere, that everyone is an owner who drives change, and that we have more fun when we work together. We're problem solvers who love collaborating with intelligent and highly-motivated people to reshape the face of digital banking. Avant offers terrific perks and benefits, fun social events with employees who actually like hanging out together, and a flexible growth environment where trying your hand at new projects and being the active owner of your career path is encouraged and supported.