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Federal Reserve Banks have centralized certain functions that provide services to financial services customers and to other Reserve Banks. The Federal Reserve Bank of Chicago runs the Customer Relations and Support Office (CRSO) which has a strategic leadership role within the Federal Reserve, managing the nationwide electronic payments and information delivery network (“FedLine”) transacting, on average, over 71 million payments daily valued at more than $3.8 trillion, leading national sales and marketing strategies associate with about $.5 billion in annual revenue and providing customer set-up and support for over 100 thousand users. This attorney provides guidance and direction regarding complex legal, policy, and regulatory matters affecting the Bank, primarily in the area of the CRSO. This attorney ensures: 1) the delivery of useful, dependable legal services to Bank leadership using a practical understanding of the Bank and its operations, and of the Federal Reserve System; 2) quality and timely performance of legal work; and 3) professional development of other legal staff supporting the CRSO.
Job Responsibilities Related to the CRSO (includes but is not limited to the following):
Provides legal advice to CRSO leadership and staff regarding issues of policy or strategic or operational importance
Advises CRSO business leaders on significant legal developments impacting the CRSO
Provides guidance and practical solutions in support of major initiatives including new product development and feature enhancements and contract negotiations with strategic partners
Reviews all customer-facing communications, guidance and training
Provides intellectual property (patent, trademark and copyright) legal advice and manages outside IP legal counsel
Works closely with other Product Office Counsel at other Federal Reserve Banks and the Federal Reserve Board of Governors’ Legal staff on matters affecting financial services
Drafts, reviews, and approves service agreements, operating circulars, contracts and other legal forms affecting the Bank’s rights and obligations
Additional Job Responsibilities
Provides legal advice and services to Bank management and staff such as:
Assists in the continued development and improvement of all aspects of the Bank’s privacy compliance and data protection programs (data transfers, processing, privacy policies, staff training, etc.).
Keeps management apprised of material legal developments and matters on a timely basis, exercising sound business and legal judgment.
Conducts relevant legal research, gives oral and written opinions and makes related recommendations.
Knowledge and Skills
Strong communication skills, presentation and persuasion capabilities, and management presence that elicits confidence and credibility. Ability to effectively convey complex issues and communicate to a variety of audiences including technical staff, peers, senior management, and oversight bodies
Exceptional relationship building and collaboration skills are essential
Working industry knowledge required in the area of financial services. Ability to provide broad perspective and thought leadership to help develop and implement key strategies and critical business priorities at the function, Bank, and System level. Ability to analyze complex issues resulting in the development of effective solutions
Demonstrated ability to lead a team, set priorities, formulate strategies, assess performance, and execute plans. Ability to adjust to changing work requirements and priorities, demanding deadlines, and operational crisis situations, as well as the ability to keep pace with multiple concurrent initiatives
Demonstrated ability to deal effectively and decisively with organizational issues. Skilled listener and observer who can also exert influence and build trust
Demonstrated ability to create legal defensive or proactive strategies
Deep understanding of legal and business risk issues
Ability to work well in a small legal team environment and take on assignments outside the primary area of responsibility
Education and Experience:
A Juris Doctorate (J.D.) from a nationally recognized, accredited institution is required
Must be licensed to practice law by the State of Illinois or commit to obtaining such a license
Seasoned attorney with approximately eight (8) or more years of corporate legal experience, either in-house or at a law firm, who has a strong record of achievement providing legal counsel in a business environment
Working knowledge of information technology and security in the area of payments systems is required
Knowledge of at least several of the following areas is highly desirable: financial services and payments law, internet-related agreements and policies, e-commerce, intellectual property, privacy law/data protection, the Federal Reserve System, secured transactions
Federal court litigation experience in any of the previous areas is desirable
This position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take approximately two months to be completed. The screening covers areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well.