Job Type

Full-time

Fully Remote (U.S. Only): This is a fully remote position, allowing you to work from home or location of record within the U.S. with no in-office requirements. You must be available five days per week during designated work hours. The work arrangement for this role is subject to change based on business needs and individual performance. This may include adjustments to on-site requirements or schedule expectations, as necessary.

Position Overview

The Director Senior Corporate Counsel, Financial Services serves as an in-house legal leader responsible for providing strategic legal counsel across Paylocity's financial services initiatives. This role advises the business on federal and state financial services laws and regulations, money transmission and money movement licensing, and fiduciary and trust activities. The Director partners closely with Compliance, Risk, Product, Finance, Treasury, Operations, and Technology teams, as well as external counsel and consulting partners, to structure and support new products, licensing initiatives, and corporate transactions in a highly regulated environment. The Director will be a hands-on legal leader who is comfortable operating at the intersection of financial services regulation and product strategy, and who can translate complex legal and regulatory requirements into practical, scalable business solutions.

Primary Responsibilities

The below represents the primary duties of the position, others may be assigned as needed. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Serve as the primary internal legal advisor on financial services, money movement, and fiduciary activities across Paylocity's product and service portfolio
• Provide legal counsel on the formation, chartering, licensing, and ongoing operation of regulated financial services entities, including national trust bank and depository institution structures
• Lead legal workstreams supporting new banking license applications and material change filings with federal banking agencies (OCC, FRB, FDIC) and state financial services regulators, in coordination with external regulatory counsel
• Advise on money transmission licensing strategy and lifecycle activities through NMLS, including new state applications, renewals, material change notifications, and regulator engagement
• Draft, review, and negotiate corporate, commercial, and regulatory agreements, including intercompany agreements, service agreements, sponsor bank partnership agreements, vendor and outsourcing arrangements, and account documentation
• Interpret and apply federal and state financial services laws and regulations, including the Bank Secrecy Act, USA PATRIOT Act, Bank Holding Company Act, Change in Bank Control Act, Regulation W, OCC fiduciary standards (12 CFR 9), UDAAP, EFTA/Reg E, and Reg CC
• Establish and maintain corporate governance, board and committee frameworks, delegated authority policies, and affiliate transaction controls required for a regulated financial services environment
• Partner with Compliance to ensure BSA/AML, OFAC, KYC/CDD/EDD, and consumer financial protection obligations are embedded in product design, operations, and third-party arrangements
• Manage and coordinate external counsel across regulatory, transactional, litigation, and specialty matters, including scope, fees, and quality of deliverables
• Serve as legal point of contact for regulator inquiries, examinations, and enforcement matters in coordination with senior leadership and external counsel
• Monitor and analyze legislative, regulatory, and supervisory developments impacting financial services and trust businesses, and translate them into actionable guidance for internal partners
• Support internal audit, enterprise risk, and regulatory examination readiness activities, including responses to information requests, findings, and remediation
• Provide regular updates and legal risk reporting to executive leadership, the AML Governance Committee, and other governance forums as appropriate

Education and Experience

• BBA / BA / BS degree required
• JD required + admission to a state / DC bar
• 10+ years of progressive legal experience in a combination of top-tier law firm, in-house financial services, and/or federal or state financial services regulatory agency environments required
• 5 plus years leadership experience
• Demonstrated experience advising on the formation, chartering, and stand-up of a national trust bank, national bank, or comparable depository institution, including engagement with the OCC and/or FRB, required
• Substantive expertise in financial services regulation, e.g. UDAAP, EFTA/Reg E, Reg W, Reg CC, and related consumer financial protection regulations and money transmission licensing, including federal and state legal and regulatory frameworks
• Hands-on experience with OCC, FRB, FDIC, FinCEN, CFPB, and state financial services and money transmission regulators
• Working knowledge of BSA/AML, OFAC sanctions, KYC/CDD/EDD. Familiarity with fiduciary and trust legal frameworks, including OCC 12 CFR 9 and state trust laws, strongly preferred
• Prior experience in payroll, HCM, spend management, embedded finance preferred

Physical requirements

• Ability to sit for extended periods: The role requires sitting at a desk or workstation for long periods, typically 7-8 hours a day
• Use of computer and phone systems: The employee must be able to operate a computer, use phone systems, and type. This includes using multiple software programs and inquiries simultaneously

The base pay range for this position is $179K - $205K Max /yr; however, base pay offered may vary depending on job-related knowledge, skills, and experience. This position is eligible for an annual bonus and restricted stock unit grant based on individual performance in addition to a full range of benefits outlined here. This information is provided per the relevant state and local pay transparency laws for the location in which this position will be performed. Base pay information is based on market location. Applicants should apply via www.paylocity.com/careers.

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