Senior Product & Regulatory Counsel - Investment Products

Mercury•San Francisco, NY

About The Position

This role is not about maintaining existing investment products but involves shaping and advising on evolving products within complex regulatory frameworks. The successful candidate will directly contribute to a high-quality customer experience for Mercury users, working on ambitious product roadmaps and complex regulatory requirements. Mercury, founded in 2019, aims to revolutionize banking with elegant design and technology, offering a range of financial services including checking and savings accounts, debit cards, payment services, credit products, cash management tools, and analytics. The Product & Regulatory Legal team operates with urgency and curiosity, embedding with product teams from ideation to launch, collaborating with engineers, designers, and compliance partners. They take ownership and proactively address challenges.

Requirements

6+ years of legal experience, with at least 2 years focused on non-deposit investment products.
Familiarity with the Investment Advisers Act, Securities Act, Investment Company Act, Regulation Best Interest, Form CRS/ADV, FINRA rules, and related regulatory frameworks.
Exceptional communication skills, tailoring communication to the audience.
A proactive sense of ownership.
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.
Broader foundation in financial services, payments, or fintech.

Nice To Haves

Some in-house experience is preferred but not required.
Exposure to regulatory agencies relevant to these products, whether as a member of agency staff or as part of an industry role.
Some additional experience outside the investments/brokerage space.

Responsibilities

Serve as the primary legal advisor for Mercury Treasury and Mercury Invest, advising on new feature development, drafting disclosures, calibrating marketing and customer communications, and advising on operational matters with regulatory impacts.
Collaborate with product, compliance, risk, engineering, and operations teams, providing legal perspective early in the process as a thought partner.
Work closely with the compliance team on regulatory matters affecting investment products, interpreting requirements, pressure-testing approaches, and supporting examination readiness with FINRA and the SEC.
Contribute to other product areas within the Legal department, gaining new experiences and broadening expertise.
Utilize AI tools intentionally to drive efficiency in legal workflows.
Translate dense regulatory concepts into straightforward narratives for product teams, stakeholders, and external audiences.
Embrace new regulations, market shifts, and product pivots as learning opportunities in a rapidly evolving regulatory landscape.