American Express Associate Counsel - Financial Services Regulation EMEA in Greater London, United Kingdom

American Express is a global service company, providing customers with exceptional access to products and experiences that enrich lives and build business success.

Each day, we make it easier, safer and more rewarding for consumers and businesses to purchase the things they need and for merchants to sell their goods and services, enabling them to do and achieve more.

We’re committed to becoming the world’s most respected service brand and daily deliver extraordinary service to our customers, constantly reinventing our ways of working to ensure we offer rich rewards that redefine expectations for our clients and ourselves.

Position Summary

This role is for a junior or mid-level lawyer to join the General Counsel’s Organization (GCO) to act as an associate counsel for financial services regulation for American Express in the Europe, Middle East and Africa (EMEA) region.

Supporting all lines of business within American Express in this region. As well as the UK regulatory environment, also focusing on European regulation and local regulatory matters in other European countries. Key business areas relevant to this role include card issuing and consumer credit, payment solutions for business customers, merchant acquiring, 3-party card schemes, e-money, insurance mediation, foreign exchange and international remittances.

Interfacing with other GCO lawyers, business personnel, Compliance, Operational Risk, Government Affairs, external bodies and regulators.

The ideal candidate would be someone who has some experience in payments regulatory matters and/or has demonstrated an aptitude for interpreting and applying technically complex regulation. You will need to be confident and able to work closely with business clients on a day to day basis managing conflicting priorities and tight deadlines.

Based in London in the EMEA Regulatory team, which comprises both competition and financial services lawyers. You will report directly to the lead financial services regulatory lawyer in the team.

Primary Responsibilities

  • Regulatory support with an emphasis on financial services and payments regulatory matters in the UK and EMEA generally.
  • Supporting compliance with the requirements of emerging payments legislation such as the revised Payment Services Directive (PSD2). Advising generally on licensing, prudential regulation, ongoing governance and conduct regulation under the regimes established by the Payment Services Directive, Interchange Fee Regulation, AML Directives, the Financial Services and Markets Act 2000, and the FCA Handbook. (Note: other specialists in the team will advise on consumer credit and insurance mediation conduct matters.)
  • Assisting closely in the development and implementation of Amex’s European regulatory strategy to respond to Brexit.
  • Playing a key role on licensing matters – advising on applications for new authorisations, variation of existing licences, relinquishing licences, passporting submissions, appointment of agents and appointed representatives. Advising on cross-border structures, passporting and arrangements with third parties (group companies and external partners), including outsourcing, agency and appointed representative arrangements.
  • Advising on FCA authorisation and supervision generally, assisting with regulatory reviews and inspections and responding to Requests for Information. Supporting Compliance and business leaders in managing FCA and other regulatory relationships.
  • Advising on cross-border structures, passporting and arrangements with third parties (group companies and external partners), including outsourcing, agency and appointed representative arrangements.
  • Monitoring regulatory developments at EU and national level relating to financial services, payment services, and payment schemes through internal, external and desktop resources and reporting these developments internally. Assisting lobbying efforts at EU and national level to ensure regulation is proportionately tailored according to different business models. Assisting in the development of American Express strategy in response to and anticipation of regulatory developments in the payments industry.
  • Building positive working relationships with relevant payment services regulators through attending meetings with regulators and participating in legal and industry groups. Supporting written and oral lobbying at European and national level on key EU developments, e.g. PSD2, EBA papers, IFR, AML, European Commission Green Papers.
  • Liaising with other industry participants on regulatory developments and representing American Express at trade associations and industry bodies (e.g. Payments UK, E-Money Association, European Payment Institutions Federation).
  • Advising on AML, counter-terrorist finance, anti-corruption and financial sanctions legislation and helping to develop American Express policy, strategy and approach in these critical areas.
  • Advising on management of potential regulatory breaches or compliance failures.
  • Supporting regulatory aspects and overall strategy on re-organisation projects, structuring considerations, new product launches and new market entry.
  • Briefing colleagues and clients on significant developments and projects. Preparing and supporting with delivery of internal training as appropriate.
  • Requesting, obtaining and finalising legal opinions/advice from outside counsel as needed and managing related budgets.
  • Supporting projects, assisting more senior lawyers and potentially supervising paralegals.
  • Attending relevant training courses.

Offer of employment with American Express is conditioned upon the successful completion of a background verification check, subject to applicable laws and regulations.

Specific Experience Required * Qualified to practice law and provide legal advice in an EU jurisdiction with ability and willingness to qualify in England and Wales (if not already so qualified). 1 to 5 years’ post-qualification experience ideally in financial services regulation matters. * Familiarity with one or more of the following areas would be helpful - payment services, payment schemes, e-money, AML, FSMA. Willingness to learn and become expert in these fields. * Fluency in English. Other European languages or local law competency helpful. * Solid drafting, research and negotiation/influencing skills. * Solid analytical skills and high attention to detail. Required Personal Attributes * High engagement – passionate about payments and regulatory matters. * Skilled at multi-tasking - able to manage and prioritise a wide variety of matters and client contacts at once. * Commercial focus – able to interpret and apply regulation in a practical, hands-on, common sense manner. * Communication skills – personable, able to communicate clearly, concisely, effectively and persuasively with clients, all levels of business, legal management and external regulators. Prepared to take the lead and make appropriate recommendations to management. Comfortable with speaking up in meetings and briefing stakeholders orally and in writing. * Process-management skills - strong knowledge-management and organisational skills, and willingness to help identify and implement improvements in work process to enhance efficiency and productivity. * Adaptability - able and willing to work both as part of a team and independently, under supervision of more senior lawyer where appropriate. * Willingness to learn and grow - willing to learn business sectors relevant to American Express as well as the applicable regulatory environment and to leverage experience gained in this position to expand skill set for future career growth at American Express. * Strong relationship focus - able to build solid working relationships with clients, colleagues and external parties. Enjoys getting to know people. * Commitment to integrity and American Express values, with high personal work standards. * Strategic thinker with good analytical skills, attention to detail even under time pressure. * Intellectually strong - rapid grasp of key issues.

We place great importance on doing what is right, what is best and what is innovative. And we continue seeking people to champion these values and beliefs as we grow. The world’s a big place, filled with big ideas and amazing people. And we want the best of them here at American Express. We’re interested in where you came from, but we’re even more excited about where you will go with American Express.

To complete your application please click on the links below. However, if you require any assistance with the completion of this process – or need any reasonable adjustments to be made – then please contact the Recruitment Team 83 000038 (for Russia based candidates 810 800 83 000038).

Job Compliance

Title: Associate Counsel - Financial Services Regulation EMEA

Location: GBR-Greater London-London

Requisition ID: 17008496