Commercial Counsel, Block
Payments & Banking
$185.2-326.8k
Salary dependent on location. Plus Stock Purchase Program
Financial services ecosystem
Job no longer available
Financial services ecosystem
1001+ employees
Job no longer available
$185.2-326.8k
Salary dependent on location. Plus Stock Purchase Program
1001+ employees
Company mission
To create better tools to help everyone access the economy.
Role
Who you are
- At least 10 years of relevant experience, with a focus on commercial transactions in payments, banking, or financial services
- Prior experience working with payment networks, issuers, acquirers, or payment facilitators
- Knowledge of financial services and payments compliance requirements, including issuing, acquiring, networks, partnerships, data security, and privacy within the payments industry
- Experience drafting and negotiating complex contracts
- Demonstrated background in communication and coordination of complex issues and projects with diverse levels of management and employees
- A passion for the payments industry
- Team-oriented and collaborative approach, leaving ego at the door
- A J.D. with an active membership in at least one state bar
Desirable
- In-house experience at a Fintech or financial services company
- Familiarity with the electronic financial services sector, including knowledge of merchant processing arrangements, buy-now-pay-later models, networks, payment association rules, banking and credit laws, and financial privacy regulations
What the job involves
- As the payments and banking commercial counsel, you will help provide commercial legal support to our Afterpay, Cash App, Square, and Tidal teams
- You will review, draft, and negotiate complex agreements with different payments and banking partners including, payment networks, financial institutions, and payment aggregators
- Additionally, you will collaborate with team members to ensure compliance with our commercial and regulatory obligations
- We are specifically seeking someone with transactional experience in issuing, acquiring, or with payment networks
- This is an individual contributor role and will report to the Head of Payments and Banking Commercial Counsel
- Draft and negotiate complex payments, banking, and other commercial agreements
- Partner with Regulatory and Product Counsels to ensure compliance with our commercial obligations
- Provide concise legal advice with a focus on a principled risk approach
- Resolve issues that arise in existing commercial relationships
- Collaborate with cross-functional teams to assess legal risks and develop strategies to mitigate risks while supporting business growth and new ideas
- Stay abreast of regulatory developments and industry trends affecting payments and banking, and advise relevant stakeholders on compliance requirements and best practices
- Help maintain commercial payments templates, playbooks, and processes
Otta's take
Sam Franklin
CEO of Otta
Block is a financial services technology company comprising of Square, Cash App, Spiral, TIDAL, and TBD. Its biggest brand, Square, offers hardware and software for small to medium-sized businesses enabling them to manage the entire payment lifecycle. It functions similarly to Shopify and Stripe, but has paired online payment processing with physical devices such as registers, payment terminals, and mobile card readers.
The business was originally founded as Square in 2009 by Jack Dorsey of Twitter fame. Already well-established with SMEs all over the globe, Square has significantly benefited from the increased demand for mobile payment systems. Its order management feature remains a go-to tool for small businesses that otherwise didn't have the proper infrastructure in place when demand for home delivery surged.
Square rebranded as Block in December 2021, with the Square brand name remaining in place for their seller business. The company has since come under fire for its security practices, facing lawsuits in relation to a major breach of CashApp user data, and in 2024 announced plans to reduce its workforce in order to cut costs. Despite these setbacks, there is every chance the business will move past this, though it may take some time to rebuild trust in its product.
Insights
Few candidates hear
back within 2 weeks
19% employee growth in 12 months
Company
Company benefits
- Healthcare coverage (Medical, Vision and Dental insurance)
- Health Savings Account and Flexible Spending Account
- Retirement Plans including company match
- Employee Stock Purchase Program
- Wellness programs, including access to mental health, 1:1 financial planners, and a monthly wellness allowance
- Paid parental and caregiving leave
- Paid time off (including 12 paid holidays)
- Paid sick leave (1 hour per 26 hours worked (max 80 hours per calendar year to the extent legally permissible) for non-exempt employees and covered by our Flexible Time Off policy for exempt employees)
- Learning and Development resources
- Paid Life insurance, AD&D, and disability benefits
Company HQ
SoMa, San Francisco, CA
Founders
Jack Dorsey
(CEO)Having studied at and dropped out of New York University, Jack founded Twitter in March 2006, where he has served as CEO since. He co-founded Square with Jim in February 2009, and has remained its CEO ever since.
Salary benchmarks
We don't have enough data yet to provide salary benchmarks for this role.
Submit your salary to help other candidates with crowdsourced salary estimates.
Share this job
View 181 more jobs at Block