Introduction

Here at Fnality, we are powering the future of finance, together: combining best in class technology with free-flowing creativity, and expertise that can make business better for everyone. There are no precedents for what we’re doing. With you on our side, we’ll be setting new ones every day.

In a complex world, we are here to bring clarity and make positive change.

Fnality US is a new legal entity within the Fnality Global Payments ecosystem, the operator of a new regulated payment system for the US dollar.

The General Counsel Role (Objectives of the Role):

Providing legal and regulatory advice on all aspects of Fnality US’s business, including sales and business development activities and new use cases.
Maintaining robust legal arrangements (including system rules) for the US dollar Fnality Payment System (USD FnPS) to high standards and evolving these over time in keeping with changes to customer (USD FnPS participant) needs and to Fnality US’s business model (including new USD FnPS use cases).
Working with other Fnality and partner entities to align and maintain robust legal arrangements for interoperations with other systems (including cross-border systems).
Supporting the CEO in managing Fnality US’s relationship with its regulators.
Implementing and maintaining robust standards of corporate governance for Fnality US.
Advising on all commercial contracts between Fnality US and its group companies, participants, suppliers, business partners and other third parties.
Advising on potential disputes involving Fnality US and potential regulatory and industry standard assessments and investigations.
Owning and managing legal risk within the company.

Reporting lines (How role fits in the structure of the Org)

Reporting into the CEO for Fnality US

You will need to take accountability for (Duties of role):

Maintaining the legal arrangements for the USD FnPS, including regular engagement with USD FnPS participants and ongoing updates to the USD FnPS rules and associated legal documentation.
Contract drafting and negotiation relating to all Fnality US’s business relationships. Advising on Fnality US’s sourcing arrangements with suppliers (including with group companies).
Supporting Fnality US’s participants engagement team and vendor management team on all relevant legal matters, including contractual enforcement where required.
Advising on laws and regulations applicable to Fnality US’s business, including their impact on novel technology (e.g. use of distributed ledger technology to operate a payment system) and on new use cases and interoperability with other systems for the USD FnPS (e.g. cross-border payments).
Advising on the development and ongoing implementation of Fnality US’s regulatory assessments (e.g., supervisory assessments and non objections), industry standard requirements (e.g., cyber and data management) and compliance programs (e.g. anti-money laundering and economic sanctions).
Advising on Fnality US’s corporate governance matters, e.g. Board and core Committee structures and working practices.
Engaging with Fnality US’s regulators as needed.
Advising the business on the resolution of legal disputes when they arise.
Engaging and managing external counsel where required to support the business on specialist legal areas (employment, IP, etc).
Owning legal risks in the business; developing and managing all legal risk related controls.
Managing the overall Fnality US legal function and budget, including determining its future strategy in conjunction with the wider Fnality US strategy and growth objectives.
Working with and maintaining alignment with legal counterparts in other Fnality entities on cross-cutting issues and projects.

Required knowledge, skills and abilities (Person Specification – Essential):

A minimum of 6 years professional work experience at a reputable law firm or corporate in-house legal team, with particular focus on financial regulatory matters (non-contentious) for financial market infrastructures and/or in the commercialization of new wholesale payments initiatives.
Strong appetite and capability to build upon solid legal training and become a leader in the field of FMI and emerging technology / digital law and regulations and the commercialization of new wholesale payment rails.
Astute business acumen and awareness of surrounding public policy and technology drivers.
Experience of working in an innovative, rapidly mobilizing and evolving business.
Experience of being a fact based, analytical and data driven thinker.
Experience of managing external legal advisers to deliver value for money specialist advice and support.
Ability to manage a company’s corporate governance affairs, including the design and operation of effective governance structures, practices and processes (e.g. for board of directors, committees).
Ability to identify and manage risks and resolution of issues across a broad range of legal disciplines relevant to Fnality US’s business, including: financial regulation (including AML/economic sanctions), corporate, IP, technology, data privacy, employment, competition/antitrust law.
Ability to manage and resolve legal disputes.

Demonstration of fungibility and flexibility

Ability to cover for other members of Fnality US’s executive leadership team where appropriate within the first line of defense.
Willingness to learn about all aspects of the business and its strategic/operational drivers.
Proactive engagement on all aspects of the business.
Understanding of risk in an organization and its importance to its business model.

Nice to have (Person Specification – KSA, Desirable):

Ideally, knowledge and/or experience in blockchain, financial services back-office processes, systems and products.
Ideally understanding an as-is solution architecture (business/technical), and created solutions that adhere to, or build on, those foundations.

A bit more about us

Digital transformation is changing our lives, work and businesses. While other sectors evolve however, financial markets remain slow, fragmented and siloed. What the world needs now is a future-facing financial system for the digital age.

At Fnality, we have been speaking – and listening – to the real users of today’s financial systems. From businesses to banks, there is a clear, collective ambition for a simpler, faster, safer and more resilient payment system; one that can move and settle money quickly and efficiently, with minimized risk and much more transparency.

We operate on a remote first environment, however due to the responsibilities of this role there will be a requirement for you to work from our office to be established in Connecticut and to attend business meetings in other key US east coasts cities (e.g. NYC, Washington D.C.) from time to time.

Fnality Global Payments

We are building a network of new payment systems that will enable tokenised, peer-to-peer markets.

Fnality Global Payments (FnGP) will comprise a series of national systems, each regulated in its home jurisdiction. We call each of these a Fnality Payment System (FnPS).

In each payment system, a Fnality settlement asset will act as the settlement/payment asset for any Payment (P), Delivery v, Payment (DvP) or payment vs. payment (PvP) need.

FnGP are underpinned by Distributed Ledger Technology (DLT). The nature of DLT is such that it enables FnGP to:

Operate a true peer-to-peer market
Allow for immediate settlement
Interoperate across business platforms and jurisdictions

The key benefits of the above are:

Reduced counter-party and credit risk
Reduced operational risk
Efficient liquidity management
An ability to move resources from risk mitigation to business growth

How will we use the information about you?

We will use your personal information to process your application, to enable us to assess your suitability for a role and for other legitimate business purposes such as improving our sites and talent management practices. We may share your data with third parties to achieve these purposes. We will not use or share your information for marketing purposes.

We will take appropriate security measures to safeguard your information in accordance with data protection legislation.

If you would like further information about how your information may be processed by us, please contact us at privacy@fnality.org.

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General Counsel