Senior Manager Legal - Open
Who we are:
The world needs a superpower that revolutionizes digital banking for small businesses and financial institutions! That’s why we built Open - a digital banking enterprise that builds industry-defining banking products for businesses, startups, freelancers, financial institutions and more.
We have already built several powerful forces like Open Money - the world’s fastest growing SME neobanking platform, Zwitch - Asia’s first-ever no-code embedded finance platform, and BankingStack - a modern cloud-native digital baking OS.
Open has been awarded the ‘Most Innovative Neo bank’ & ‘Most Innovative Digital Bank’ at India Fintech Awards 2021 & Internet and Mobile Association of India (IAMAI) respectively. But this is just the beginning of a paradigm shift we are about to forge in the world of banking. On 3rd May 2022, Open became the 100th Unicorn of India.
Open is currently home to some of the smartest & brightest 500+ minds in the fintech space. We’re a Series D funded startup backed by leading international funds like Temasek, Google, Tiger Global, IIFL Finance Ltd., SBI Holdings Japan, 3one4 Capital, Speed Invest, Beenext, Tanglin Venture Partner Advisors & Angellist to name a few.
To build and strengthen this superpower, we’re on the lookout for some extraordinary folks. Are you up for this challenge?
Our offerings:
Since our inception in 2017, we’ve launched a line of cutting-edge innovative products that are truly disrupting the banking game.
Open.Money: Trusted by Leverge Edu, Rupeek, Aisle, Arzooo & million others, Open started out by empowering entrepreneurs to focus on growing their business via our flagship product Open.Money. At the heart of it is the Open business account that comes with a VISA business card & combines banking, payments, accounting, expense management & taxes, in one place.
Zwitch: Over the last 5 years, we have realized that embedding banking to product workflows is complex. That's why we built Zwitch - an embedded finance platform that offers API and no-code components for banking and compliance. It empowers businesses to build and integrate banking and financial features into any product out there!.
BankingStack: Having been deployed at over 15 banks in India, BankingStack, a cloud native SME banking platform, has already created a dent in the current fintech space. This financial OS, empowers banks to launch & complement their own digital banking offerings thus offering a superior experience to customers.
What you’ll bring along:
These are entry-level requirements that are essential for you to be able to qualify for this role:
• BA.LLB (5 year) law degree.
• 7+ years of work experience, preferably at a fintech, regulated financial institution, or a law firm where your work largely involved financial sector laws and regulations. To excel in this role you will need:
• Ability to handle a function independently: You have to be confident about scoping out your work and holding yourself accountable, and be comfortable taking judgment calls.
• Empathetic manager: Over time, you will lead a team and great managerial skills are a must. At Open, we take job satisfaction seriously, and it will be your job to ensure that your team are not only good with their work, but are also happy while doing it.
• Attention to detail and practicality: Our contracts need to be carefully drafted so that they are easy to comprehend and fair to all parties, so that we cut down on negotiation time without compromising our interests.
• Good negotiator: You will need to negotiate our relationships with large numbers of external partners, which means having a keen sense of fairness and great inter-personal skills.
• Relentlessness: Closing partnerships means you will have to track tasks well and be unafraid to follow up.
• Automation and process orientation: Open’s business requires achieving great scale with high efficiency. The only way to do this from a legal and partnerships standpoint is to automate tasks, use electronic contracting, and reduce paperwork. You will need to have a strong focus on processes and their continuous improvement, to pare lead time to the absolute minimum.
• Comfortable with technology and technical jargon: While you don’t have to be an engineer, you must be unafraid of technical detail. We are a tech company, and this means having to understand (at a reasonable level of detail) how our products work, because that is the only way to ensure in turn that our contracts work
What you’ll be doing:
Given that the financial services sector is a highly regulated sector, the Legal Team plays a critical role in new strategies and project executions at Open.
• The Legal Team at Open executes a wide variety of functions, including:
• Crafting and standardizing contract templates for all stakeholder relationships.
• Supporting the business and operations teams in negotiating and closing contracts with external stakeholders, within tight timelines.
• Monitoring changes to regulatory frameworks relevant to the fintech industry (payment and settlement systems, prepaid/debit/credit cards, etc.), and examining the impact to Open’s business, and the compliance requirements to participate in new technologies.
• Working closely with the product, engineering, banking alliances teams and other internal teams on designing new products/features.
• Participating in policy discussions with industry associations around emerging technologies and regulatory frameworks, and putting forward comments/recommendations on draft laws and regulations.
• Owning KYC, information security and related policies, setting and monitoring KYC processes, proactively identifying possible weaknesses or risks, and keeping tabs on regulatory changes in this domain.
• Working on Open’s future fund-raising rounds, and liaising with external legal counsel, investors, merchant bankers etc. to ensure efficient closure.
Last updated: 373 days ago
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