Assistant Vice President - Legal-265214

| Greater Boston Area
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Primary Location

 MA-Boston

Full-time / Part-time

 Full-time

Employee Status

 Regular

Overtime Status

 Exempt

Job Type

 Experienced

Travel

 No

Shift

 Day Job
Job Sensitivity Tier III - Top Secret

 

Assistant Vice President - Legal
The Federal Reserve Bank
Boston, MA 

FedNowSM Service:

The future of payments is the FedNow Service! The Federal Reserve Banks are developing a new interbank 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality. This service will be the first new business line for the Fed in 40 years and will be transformative for United States Payments by enabling nationwide access across more than 10,000 Banks. The new service, will help enable financial institutions to deliver end-to-end faster payment services to their customers. With the FedNow Service network, banks will be able to provide their customers the ability to send and receive payments any time, any day, and have full access to those funds within seconds. Such a service will also enable the ongoing innovation of payments products offered by Banks, non-Banks and FinTech companies.

Job Summary:

You will render legal advice, counsel, and/or guidance on a broad range of the more complex banking, regulatory, and corporate law matters that fall within the domain of the Legal Department at the Federal Reserve Bank of Boston, including the FedNowSM Service. You will report to the Vice President of the Legal Department.

Principal Accountabilities:

  • Advise on the application of relevant Federal Reserve policies regarding the provision of financial services to depository institutions and other account holders relating to the FedNow Service and other Federal Reserve Financial Services;

  • Provide guidance on the regulations, agreements, and policies and procedures governing the payment services that are operated by the Federal Reserve Banks;

  • Draft and review internal and external memoranda, agreements, and other documentation related, as well as providing advice regarding the appropriate legal framework for new or expanded service offerings;

  • Coordinate and work with Board legal staff and other Federal Reserve Bank lawyers on legal matters related to the FedNow Service;

  • Participate on, and on occasion, leading select System workgroups and special projects;

  • Review and draft contracts and requests for proposals related to the FedNow Service;

  • Advise on privacy and information security laws, policies and provisions;

  • Respond to inquiries from the public, government entities, and legal professionals on Federal Reserve regulations, banking laws, and Reserve Bank activities;

  • Assist the General Counsel and the FedNow Service Managing Counsel with their System responsibilities;

  • Teach and speak publicly on banking issues and other legal topics to banking organizations, the public, and other legal professionals; and

  • Advise on the FedNow Service compliance program.

Supervision:

You may be required to directly and/ or indirectly supervise others.

Knowledge and Experience:

  • Juris Doctor degree or equivalent.

  • 8 or more years of job related experience with at least 5 years’ experience practicing as an attorney working on payment-related matters in a law firm, financial institution, or regulatory agency;

  • Applicable licensing, certification or registration for the Commonwealth of Massachusetts

  • Experienced in providing legal advice with respect to commercial banking matters related to payment activities is required;

  • Excellent oral and written communication skills;

  • Strong drafting skills, particularly for transactional documents and legal research memoranda; and

  • Experience negotiating contracts, which involve technology services and intellectual property matters.

     

 

The Federal Reserve Bank is committed to a diverse, equitable and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

 

All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years. All candidates must undergo an enhanced background check and comply with all applicable information handling rules.

 

For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks.

 

The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position.  Depending upon the sensitivity of the position, this phase may include, and is not limited to, work and residency eligibility verification, and personal interviews with the candidate, references, and prior employers.           

 

 

 

Due to the sensitive nature of this role, all applicants  must be a U.S. Citizen and be able to obtain and maintain a Top Secret clearance.

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Technology we use

  • Engineering
    • JavaLanguages
    • PythonLanguages
    • TerraformLibraries
    • RsocketLibraries
    • RDSLibraries
    • SpringFrameworks
    • NoSQLDatabases
    • aerospikeDatabases

Location

600 Atlantic Avenue, Boston, MA 02210-2204

What are Federal Reserve Bank of Boston Perks + Benefits

Culture
Volunteer in local community
The Boston Fed participates in local volunteer activities and provides each employee with two paid volunteer days.
Partners with Nonprofits
Through the work of our Employee Resource Groups (ERG's) and other departments within the Boston Fed, we partner with local Non Profits as a way to give back to the communities where we live and work.
Friends outside of work
Eat lunch together
Intracompany committees
The Fed Society plans many social activities throughout the year that provide opportunities for employees to engage with one another outside of work.
Daily stand up
Open door policy
Team owned deliverables
Team based strategic planning
Group brainstorming sessions
Pair programming
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
Highly diverse management team
Unconscious bias training
Diversity manifesto
Someone's primary function is managing the company’s diversity and inclusion initiatives
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Disability Insurance
Dental Benefits
Vision Benefits
Health Insurance Benefits
Life Insurance
Wellness Programs
Onsite Gym
Team workouts
Acme Co.'s team fitness initiatives include In-office yoga, In-office fitness classes.
Retirement & Stock Options Benefits
401(K)
401(K) Matching
Performance Bonus
Child Care & Parental Leave Benefits
Child Care Benefits
Federal Reserve Bank of Boston provides backup child care assistance, including tutoring, in-home childcare and virtual child care assistance.
Generous Parental Leave
Flexible Work Schedule
Acme Co. provides employees with a flexible work schedule that includes Compressed week, Flexible start and end times.
Remote Work Program
We have adopted a remote work posture through 2020 due to Covid-19. Plans to return to the Bank in 2021 have not been determined. Typically, remote work arrangements are at Managers discretion.
Family Medical Leave
Adoption Assistance
Restricted work hours
Return-to-work program post parental leave
Company sponsored family events
The Fed Society plans family oriented events a few times throughout the year.
Vacation & Time Off Benefits
Generous PTO
Paid Volunteer Time
Our employees receive 16 hours per year of paid volunteer time.
Paid Holidays
Paid Sick Days
Perks & Discounts
Casual Dress
Commuter Benefits
The Federal Reserve Bank of Boston offers pre-tax commuter benefits for all employees through Wage Works.
Company Outings
Acme Co. hosts company outings Semi-annually.
Game Room
Located outside on the plaza, you'll find corn hole and shuffle board available for a quick game between meetings.
Professional Development Benefits
Job Training & Conferences
The Boston Fed offers employees professional development opportunities like onsite training courses and the ability to attend job related conferences and seminars.
Tuition Reimbursement
Diversity Program
Lunch and learns
Cross functional training encouraged
Promote from within
Mentorship program
Online course subscriptions available
Paid industry certifications

Additional Perks + Benefits

At a time when many organizations no longer offer a traditional pension plan, the Federal Reserve’s Retirement Plan is recognized for the value it provides in helping secure employees’ financial future during their retirement years. Fed employees are automatically enrolled in our pension plan.

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