Deposits Attorney

Charlotte, NC, United States

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference.

Join us!

Job Description:

The Consumer Deposit Products and Payment group within the Consumer and Small Business Banking team of the Legal Department of Bank of America is looking for a highly motivated attorney to join their team. This team provides general legal counsel to the Consumer Banking Businesses on a wide range of matters related to the development, enhancement, and maintenance of consumer deposits and payments products and services.

The position will support issues related to:

Checking, savings, CD, debit card, and remittance transfer products

Marketing of deposit, digital, and payment products and services

Digital account opening and servicing; digital delivery of product disclosures

Analysis of issues raised by a variety of laws and regulations impacting consumer deposits, payments and small dollar loan products including E-Sign, Reg B, Reg D, Reg E, Reg CC, Reg DD, Reg II, Reg P, Reg Z, FCRA, and UDAAP

Responsibilities:

Developing a deep understanding of the Consumer and Small Business Banking Lines of Business, building strong collaborative relationships with business, Risk, Compliance, and other control partners

Advises and assists in the identification, escalation, and resolution of potential legal disputes or concerns presenting economic harm and/or legal, compliance, operational, strategic, reputational and or other key risk

Interacting closely with business, risk, compliance and audit partners on new product development, enhancing and maintaining existing products and services, and collaborating on and providing legal guidance related to emerging issues and regulatory matters

Communicates concise, actionable, and business-informed legal advice in oral and written presentation

Manages large docket of various matters, effectively utilizing strong project and time management skill and employing sound business judgment on a day-to-day basis with limited supervision

Drives strategy and participates in negotiations to resolve financial and reputational risk presented by active matters, new technology, and anticipated regulatory changes

Drafting, reviewing and negotiating agreements, legal contracts and other documents.

Drafting consumer disclosures and user agreements.

Reviewing marketing and customer communications

Supporting responses to regulatory exams and inquiries related to consumer deposits and payments products

Monitoring legislative developments in collaboration with trade associations and the Bank’s public policy team and providing guidance and commentary on new and proposed legislation.

Collaborating with legal partners supporting consumer products, customer channels, credit/underwriting, and privacy as needed

Monitoring legal and regulatory developments impacting consumer deposits products and services, including via legal research either directly or through staff

Participating in governance routines and forums

Reviewing policies, procedures, processes and training materials for customer-facing associates.

May represent the bank in legal actions

Skills:

• Interpret Relevant Laws, Rules, and Regulations

• Advisory

• Legal Drafting and Writing

• Critical Thinking

• Policies, Procedures, and Guidelines

• Problem Solving

• Regulatory Compliance

• Issue Management

• Decision Making

• Influence

• Legal Structures and Legal Forms

• Attention to Detail

• Stakeholder Management

• Collaboration

Required Qualifications:

JD from an accredited law school and strong academic credentials

A minimum of 5 years of experience with a national financial company or within a law firm performing similar functions with experience in dealing with consumer financial services and knowledge of the consumer payment ecosystem

Familiarity with many of the laws governing consumer products (Reg DD, Reg E, Reg D, Reg CC, UDAAP, Reg P, FCRA, TCPA, Reg Z, and Reg B)

Demonstrated excellent written and verbal communication and interpersonal skills

Excellent issue spotting, risk assessment, and problem-solving/analytical skills; ability to quickly identify key issues, separate the noise, and provide practical advice and solutions

Must be capable of handling multiple competing priorities amidst pressing deadlines; and adaptable when faced with changing conditions or priorities in a fast-paced environment

Ability to work closely with other lawyers, compliance and risk professionals, etc., in a collegial and cooperative manner

Desired Qualifications:

10 years of experience with a national financial company or within a law firm performing similar functions with experience in dealing with consumer financial services and knowledge of the consumer payment ecosystem

Familiarity with all laws governing consumer products (Reg DD, Reg E, Reg D, Reg CC, UDAAP, Reg P, FCRA, TCPA, Reg Z, and Reg B)

Process oriented and able to identify and leverage best practices, and minimize lower value work

Adaptive to new technologies and embraces change with attention to operational excellence

Minimum Education Requirement: Juris Doctor

Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.

Regardless of the position you are interested in, the starting points to building your resume are the same:

1. Determine the job or types of jobs you want to do and research their responsibilities and qualifications.

2. Think about why you can do the job and make a list of your skills that are relative to the job.

3. Identify experiences or accomplishments that show your proficiency in the skills required for the job.

4. Summarize your abilities, accomplishments and skills into a brief, concise document.

Considerations when writing a resume

• Do be brief. Resumes should be 1-2 pages in length.

• Do be upbeat and active in your wording.

• Do emphasize what you have done clearly and concretely.

• Do be neat and well organized.

• Do have others proofread and critique your resume. Spell check. Make it error free.

• Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible.

• Don't be dishonest, always tell the truth about yourself in the most flattering light.

• Don't include salary history or requirements.

• Don't include references.

• Don't include accomplishments that do not support your professional goals.

• Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.)

• Don't use italics, underlining, shadows or other fancy treatments.

Seven steps to a successful interview

1. Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?

2. Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available?

3. Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight.

4. Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down.

5. Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks.

6. Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease.

7. Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage.

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