First Republic Bank – Deposit Counsel
POSITION: Deposit Counsel
First Republic Bank
LOCATION: San Francisco, CA
Founded in 1985, First Republic and its subsidiaries offer private banking, private business banking and private wealth management, including investment, trust and brokerage services. First Republic specializes in delivering exceptional, relationship-based service, with a solid commitment to responsiveness and action. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland, Palm Beach, Boston, Greenwich and New York City. First Republic offers a complete line of banking products for individuals and businesses, including deposit services, as well as residential, commercial and personal loans.
First Republic was ranked ‘7th Best Bank’ by Forbes in its ranking of the 100 largest publicly traded banks and thrifts on nine measures of financial health in January 2016. The Bank was also named ‘Best Private Bank’ and ‘Best Private Client Service’ by Private Asset Management magazine in February 2016. The recognition is the sixth consecutive year that First Republic has been honored by Private Asset Management.
FRB is looking to hire a seasoned Deposit Counsel to be based in San Francisco. S/he will join an existing legal team that supports all commercial, consumer and professional deposit and lending activity nationwide, and will also provide legal assistance on other matters, as needed.
The successful candidate will guide the execution of business plans and other initiatives that support Deposit activities nationwide. S/he will guide the Bank’s deposit activities in all of the Bank’s footprint jurisdictions (currently taking deposits in 7 states), focusing on relevant federal and state regulatory and legal requirements. S/he will work closely with client-facing bankers to assist with deposit operations, issues, and projects (including deposit strategy) and will also interact with other FRB San Francisco-based attorneys to assist on broader corporate legal matters, as appropriate.
- Providing legal advice and services to all aspects of the Bank’s consumer and business deposit-taking and related lines of business, including the Bank’s Preferred Banking Offices and Deposit Strategy.
- Drafting, consulting and advising (both internally and externally) on documentation for all consumer and business deposit activities, including seeking necessary approvals and ensuring compliance with all Bank policies and procedures.
- Assisting in in the formulation, communication, and implementation of strategic business plans and other strategic and systems initiatives to help the Bank’s deposit franchise function more efficiently.
- Advising the Bank on regulatory requirements affecting the deposit franchise, including new product development (including, without limitation, applicable Gramm-Leach Bliley Act, ECOA/Regulation B, Federal Reserve Act/Regulation D, EFTA/Regulation E, Expedited Funds Availability Act/Regulation CC, TISA/Regulation DD, CAN-SPAM, UDAAP, and applicable state laws and regulations).
- Implementing and maintaining written policy and procedures in each area of responsibility.
- Producing deliverables to support internal and external audits, regulatory examinations or any other oversight review in the set time frame.
- Performing other duties specific to department functions and/or supporting broader corporate needs as appropriate.
- Adhering to and complying with all applicable, federal and state laws, regulations and guidance, including those related to Anti-Money Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.); similarly, adhering to Bank policies and procedures.
- Identifying and reporting potential suspicious activity to the BSA/AML Officer; knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank.
- Seven plus years of related legal experience preferably in-house, at another leading bank, or in private practice.
- Strong experience in multi-jurisdictional Deposit regulations/issues.
- Expertise analyzing and drafting transactional and other legal documents.
- Experience dealing with clients in line with those of the Deposits platform (experience with private equity and/or hedge fund clients and/or transactions a plus).
- An undergraduate degree and a JD from a top institution; licensed to practice law in California.
- Other highly valuable experience includes:
- Familiarity with private banking offerings, including deposit and credit products.
- An understanding of banking laws and regulations – experience dealing with banking regulators (Fed, OCC and FDIC) and/or securities regulators (SEC and FINRA).
- A relationship builder who can establish trust and credibility across the organization as well as with other key external constituents.
- Highly collaborative and strategic; detail-oriented and hands-on in approach. Naturally assumes leadership roles.
- A strong communicator with excellent writing and speaking skills – charismatic and confident presentation style in interactions with top bankers, executive management and clients.
- Highly enthusiastic.
- Driven by excellence, quality of service and efficiency.
- Able to handle both a wide range of matters and a high volume of matters with a focus on those areas presenting the greatest risk/reward to the Bank and where s/he can add the most value.
- Independent and a self-starter. Not afraid to tackle new challenges and legal issues.
- Innovative and entrepreneurial approach to the practice of law.
- Great team player, even while working with business partners and colleagues outside of San Francisco.
- Willing to travel periodically to other FRB regions (for example, New York, Boston, and Portland) to build and maintain relationships with the local bankers and the rest of the Office of the General Counsel.
- Acceptance of FRB’s values: Do the Right Thing – Provide Extraordinary Service – Respect the Team – Take Responsibility – Think Positively – Move Forward, Move Fast – Grow – Have Fun.