Counsel, Product & Regulatory - Payments & AML (San Francisco)

In 1905, chief engineer John Stevens inherited one of the most ambitious infrastructure projects in history: the Panama Canal.The challenge wasn’t digging a ditch between two oceans. It was figuring out how to move ships safely through a system of locks, gates, reservoirs, and changing conditions without bringing global commerce to a halt.The solution wasn’t to stop movement. It was to create a framework that allowed movement at scale.Modern financial infrastructure presents a similar challenge. Payment systems, banking products, compliance obligations, and regulatory frameworks all exist for a reason. The goal isn’t to eliminate complexity. It’s to build systems that allow innovation, growth, and customer value within it.Who we areSince 2019, Mercury has been on a mission to reinvent banking‡ for the modern age. We blend elegant design and cutting-edge technology to offer checking and savings accounts, debit cards, payment services, credit products, cash management tools, and sophisticated analytics. Everything we build reflects our belief that financial products should be thoughtfully crafted, fast, transparent, and genuinely enjoyable to use.As we continue expanding and iterating on our product offerings and as we work to build a nationally chartered bank, we’re looking for a Counsel, Product & Regulatory (Payments & AML) to help us navigate increasingly complex questions at the intersection of product, regulation, and financial infrastructure.About the teamOur Product & Regulatory Legal team operates like the rest of Mercury: with urgency, curiosity, and a bias toward action.We embed with product teams from early ideation through launch, working alongside engineers, designers, compliance partners, operations teams, and risk stakeholders to get products right. We move fast, we take ownership, and we don’t wait to be asked. If something needs figuring out, we’re up to the task.We are not a team that sits on the sidelines reviewing finished proposals. We work alongside our partners to identify risks, unlock opportunities, and find practical paths forward. We care deeply about good judgment, strong relationships, and building frameworks that scale.What you’ll doAdvise on payments products and infrastructure. You’ll support a broad portfolio of payments-related initiatives across Mercury. You’ll advise on matters involving payment rails, product launches, operational incidents, partner relationships, and customer-facing experiences. You’ll help product teams navigate regulatory complexity while continuing to build exceptional products.Partner across the company.This role sits at the intersection of Product, Compliance, Risk, Engineering, Operations, Partnerships, and Legal. You’ll build trusted relationships across these functions and bring legal perspective into conversations early, not as a checkpoint, but as a low-ego, high-ownership thought partner.Help launch new capabilities. Mercury is continuing to expand its product offerings while building a nationally chartered bank. You’ll support new payment capabilities (like Zelle) from early exploration through launch, helping teams identify risks, evaluate options, and make sound decisions in ambiguous environments.Support financial crimes initiatives. You’ll work closely with Mercury’s AML Advisory, Sanctions, Compliance, and Risk teams on matters involving financial crimes compliance. You’ll help interpret requirements, evaluate new initiatives, and develop practical guidance that enables teams to move efficiently while maintaining an appropriate risk posture.Build scalable guidance. The best legal advice solves more than the question in front of you. You’ll help create frameworks and guidance that improve consistency, reduce friction, and allow the organization to make better decisions over time.Use AI intentionally. Bring a working knowledge of AI tools in legal workflows and a genuine interest in finding new ways to drive efficiency. We’re building a legal team that works smarter, not just harder.Stay curious and adaptable. The regulatory and product landscape continues to evolve quickly. New payment rails emerge. Regulatory expectations shift. Business priorities change. You’ll embrace that complexity and continue learning alongside it.What you should have4+ years of legal experience.Active license to practice law in at least one U.S. jurisdiction.Experience supporting fintechs, banks, payment companies, sponsor-bank programs, payment networks, BaaS providers, or regulators with substantial payments- or AML-related exposure.Strong working knowledge of payments-related regulatory frameworks, and an interest in emerging areas like stablecoins. Familiarity with BSA/AML and sanctions requirements.Exceptional communication skills. You know your audience and tailor accordingly.Strong judgment and comfort operating in ambiguous environments.A proactive sense of ownership. You’re comfortable saying, “I don’t know yet, but I’ll find out.”Genuine curiosity about financial products, financial infrastructure, and the evolving regulatory landscape.Strong working knowledge of AI use cases within legal roles and/or financial services generally and genuine interest in using AI to drive efficiency in your work.What will make you successful hereMercury is a place where lawyers are expected to have a point of view. Not just about what a regulation requires, but about how a product can meet that requirement in a way that’s thoughtful, scalable, and good for customers.The people who thrive on this team treat ambiguity as an invitation rather than a reason to pause. They read a regulation and think about what it permits, not just what it prohibits. They understand that legal advice is most valuable when it helps the business make a decision, not when it simply identifies a risk.You’ll also spend a meaningful amount of your time on work that may not look like traditional legal practice: helping scope cross-functional projects, pressure-testing product designs, navigating operational questions, and building processes alongside compliance and operational partners.If you’re energized by that kind of work, and if you measure your impact by whether the product, process, or customer experience got better—not just whether the memo was technically correct—you’ll do well here.Why this roleThis is an opportunity to join Mercury during a uniquely consequential period of growth.You’ll help support existing products while contributing to the development of new capabilities as Mercury builds a nationally chartered bank. You’ll work alongside experienced legal, compliance, product, and banking professionals, gain exposure to a wide range of regulatory and product questions, and have meaningful ownership early in your career. You’ll also help shape how Mercury approaches payments and financial crimes legal support for years to come.The total rewards package at Mercury includes base salary, equity (stock options), and benefits.Our salary and equity ranges are highly competitive within the SaaS and fintech industry and are updated regularly using the most reliable compensation survey data for our industry. New hire offers are made based on a candidate’s experience, expertise, geographic location, and internal pay equity relative to peers.Our target new hire base salary ranges for this role are the following:US employees in New York City, Los Angeles, Seattle, or the San Francisco Bay Area: $186,400 - $209,700US employees outside of the New York City, Los Angeles, Seattle, or the San Francisco Bay Area: $167,800 - $188,700Canadian employees (any location): $176,100 - $198,200 CADWhile we’ve received conditional approval to become a bank, Mercury today is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC. Investment advisory products and services offered by Mercury Advisory, LLC (MA), an SEC-registered investment adviser. MA is a wholly-owned subsidiary of Mercury Technologies, Inc..Mercury values diversity & belonging and is proud to be an Equal Employment Opportunity employer. All individuals seeking employment at Mercury are considered without regard to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, gender identity, sexual orientation, or any other legally protected characteristic. We are committed to providing reasonable accommodations throughout the recruitment process for applicants with disabilities or special needs. If you need assistance, or an accommodation, please let your recruiter know once you are contacted about a role.#LI-JD1