Counsel, Financial Services
About the Company
Fifty years ago, Sam Walton started a single mom-and-pop shop and transformed it into the world's biggest retailer. Since those founding days, one thing has remained consistent: a commitment to helping customers save money so they can live better. Today, Walmart is reinventing the shopping experience and its associates are at the heart of it. You'll play a crucial role in shaping the future of retail, improving millions of lives around the world. This is that place where your passions meet purpose. Join their family and create a career you're proud of.
About the Job
Walmart’s Chief Legal Office is seeking a dynamic professional with a strong background in, personal lending, BNPL and installment loans, pre-paid access, open and closed loop gift cards, and more. Bring your expertise to both the in-store environment but also to our growing eCommerce and merchant platforms. This is your chance to make a significant impact, developing new products, identifying risks, and advising on legal and regulatory requirements impacting a dynamic global organization.
Responsibilities
Lead the charge in providing comprehensive counseling on a range of products, including payments, credit cards, personal loans, merchant lending, and banking-related products and services
Be the trusted advisor who responds promptly to complex legal requests, coordinating with your team and outside counsel to deliver practical, timely, and high-quality advice
Use your problem-solving skills to identify and assess business and legal risks, finding innovative ways to mitigate them while achieving product goals
Champion compliance, ensuring adherence to applicable laws and regulations
Use your negotiation skills to advise on, review, draft, and negotiate deals and agreements in support of new products and partnerships
Build strong relationships to facilitate a coordinated team approach to launching new products and features
Liaise with relevant regulatory agencies and Walmart’s global investigations units regarding government investigations and enforcement and assist in setting the strategy for compliance with all relevant legal and regulatory requirements
Stay updated on financial services case law and monitor regulatory issues from state Attorneys General, CFPB, and state banking departments
Ensure compliance with loan broker regulations, and other regulations including ECOA, FCRA, FACTA, FDCPA, TILA, SCRA, MLA, UDAAP, Dodd-Frank, EFTA, GLBA, and TCPA
Review Walmart’s Compliance Management Systems (CMS), issue remediation, and self-reporting requirements
Manage due diligence and vendor and merchant management, including beneficial ownership issues, and TPRM requirements issued by state and federal regulators
Implement compliant Electronic Signature processes under E-Sign Act, UETA, and UCC regulations
Qualifications
Minimum Qualifications:
Law degree from an accredited law school and more than 4 years’ experience in law
License in good-standing to practice law in at least one state
Preferred Qualifications:
At least 6-8 years of experience as a subject matter expert in the financial services industry, or retail industry supporting financial services
Well-developed knowledge and experience with lending products and applicable state and federal consumer financial protection laws such loan broker regulations, fraud and AML, pre-approval rules, the Truth in Lending Act, the Equal Credit Opportunity Act, Fair Credit Reporting Act and the Fair Debt Collections Practices Act
Excellent written and oral communication skills
Demonstrated ability to work practically and quickly to evaluate risk, solve problems, and make decisions that balance risk, opportunity, and business objectives
Experience dealing with federal and state banking and other regulators including the CFPB and FTC
Working knowledge of lending related regulatory issues, including Reg E, Z, II, and financial advertising and disclosure requirements
Experience in rolling out retail-based, customer service products and services
Extraordinary interpersonal and communication skills, phenomenal ability to communicate information effectively internally and externally, including to non-legal audiences, and to drive cross-functional alignment and action and an execution-oriented mindset with the humility, drive, and creativity to get things done
