Counsel, FinTech

Chicago, IL, US

Job Description / Skills Required

Toast is driven by building the restaurant platform that helps restaurants adapt, take control, and get back to what they do best: building the businesses they love.

Counsel, FinTech

Now more than ever, restaurants are seeking creative financial solutions to assist them and their employees with their unique and evolving financial needs. Through its rapidly-growing FinTech business line, Toast is able to help its constantly expanding base of restaurant customers adapt, grow, and thrive through innovative financial products and services, including faster access to revenue and capital through prepaid cards and commercial loans, dynamic ways to pay for Toast POS solutions, earned wage access benefit programs, payment processing services, alternative payment products, and more. 

The FinTech Legal team is growing! Toast is hiring a mid-level attorney to support its FinTech business line. In this role, you will actively participate on project teams and engage with passionate and enthusiastic business partners to help inform the design, development, and implementation of new financial products and services for restaurants and their staff, promote new business through transactional work with vendors and strategic partners, and provide general legal support to the FinTech business team. And you’ll do it all in a fun and collaborative environment that values your insights, creative thinking, intellectual curiosity, and ability to roll with it. This position reports to Toast’s Lead Counsel, FinTech.

About this roll* (what you will do):

  • Research, analyze, and respond to legal and regulatory questions related to a wide range of financial products and services, such as: credit and debit products (e.g., installment loans, lines of credit, prepaid debit cards), alternative payment products (e.g., mobile wallets), purchase finance products, payment processing, and electronic funds transactions
  • Participate on cross-functional project and operational teams where you will help design cutting edge financial products, identify creative solutions to unique use cases and escalated issues, and ensure compliance with financial regulations, partner contracts, card brand rules, and other applicable laws
  • Review multi-channel advertising materials for compliance with federal and state laws and best practices, and provide feedback and guidance to Marketing team stakeholders
  • Draft, review, update, and negotiate foundational documents for products and services (e.g., customer agreements, terms and conditions, regulatory disclosures, etc.), as well as contracts with vendors, partners, financial institutions, and third-party service providers of financial products and solutions
  • Monitor evolving laws that may impact the FinTech business line and its existing and emerging products and services, and partner with Toast’s Compliance team to assist with operationalizing and implementing compliant solutions

Do you have the right ingredients?

  • A J.D. from an ABA-accredited U.S. law school, and membership in good standing to at least one state bar
  • 5 – 10 years of concentrated experience advising corporate clients on a variety of FinTech products, either in-house or at a law firm
  • Subject matter expertise with at least some of the following products/services: commercial credit (e.g., loans, lines of credit, and/or credit cards), debit cards (including prepaid debit cards), alternative payment methods, purchase financing, payment processing, early wage access products, and commercial lease arrangements
  • Experience drafting and negotiating commercial agreements within the financial services industry, reviewing marketing collateral, and providing comments on both to a business audience
  • Strong knowledge of financial laws and regulations, including a majority of the following: CFPB regulations (most specifically Reg B, Reg E, Reg P, and Reg Z), federal and state consumer protection laws (most specifically UDA(A)P, CAN SPAM, and TCPA), other laws and industry best practices related to commercial and consumer credit, prepaid debit cards, and electronic funds transactions (including NACHA), card association and payment network rules, and state money transmitter laws

*Bread puns encouraged but not required.

We are Toasters

Diversity, Equity, and Inclusion is Baked into our Recipe for Success.

At Toast our employees are our secret ingredient. When they are powered to succeed, Toast succeeds.

The restaurant industry is one of the most diverse industries. We embrace and are excited by this diversity, believing that only through authenticity, inclusivity, high standards of respect and trust, and leading with humility will we be able to achieve our goals.

Baking inclusive principles into our company and diversity into our design provides equitable opportunities for all and enhances our ability to be first in class in all aspects of our industry.

Bready* to make a change? Apply today!

Toast is committed to creating an accessible and inclusive hiring process. As part of this commitment, we strive to provide reasonable accommodations for persons with disabilities to enable them to access the hiring process. If you need an accommodation to access the job application or interview process, please contact [email protected].

For roles based in the United States:  As part of our commitment to the health and safety of our employees and their families, all individuals entering our US workspaces are required to provide proof of full vaccination against COVID-19 unless they have an approved medical or religious accommodation.