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Your opportunity

At Schwab, you’re empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us “challenge the status quo” and transform the finance industry together.

Schwab is looking to hire an experienced attorney to join its Banking, Retirement and Trust Legal Group as Director & Legal Counsel, Community Development Investments and Bank Lending Products to be based in Westlake, Texas. This Director and Legal Counsel will join an existing legal team that supports CSB, CSPB and CS&Co’s lending initiatives.

As a member of the Banking, Retirement and Trust Legal Group in Schwab’s Legal Services Department, you will be responsible for providing legal advice and counsel with respect to the legal and regulatory aspects of our Community Development Investments, Affordable Housing financings, Public Welfare loans and general Bank Lending initiatives.

This position addresses both the transactional and regulatory aspects of the bank’s public welfare investments, affordable housing initiatives, community development, CRA activities as well as its traditional bank commercial and consumer loan products. The transactional aspects require experience in the drafting and negotiation of community based, charitable, non-profit CRA investments, low-income housing tax credits, donations, and community development loans. The regulatory aspects require a strong understanding of the Community Reinvestment Act (CRA) and the associated bank supervisory policies and working knowledge of the regulations that affect commercial and consumer bank lending. The successful candidate will also have the ability to assist Schwab’s Community Development team with the design and documentation of strategic plans.

In addition, this Director and Legal Counsel will also provide secondary general legal support to Banking, Retirement and Trust Services’ general bank lending initiatives, including Schwab’s Pledged Asset Line of Credit (“PAL”) product (a non-purpose revolving line of credit secured by investment collateral), mortgage products, loans made by Schwab affiliates and the development of new bank loan products.

The successful candidate will assist on transactions across the Bank's multi-faceted lending platforms. This position will work closely with client-facing Senior Bankers, Credit and Operations colleagues with loan transactions from origination through the life of the loan and will also interact with other Schwab attorneys to assist on broader legal matters.

Responsibilities include:

+ Draft, review and negotiate community based, charitable, and non-profit CRA investments, donations, and community development loans.

+ Review and advise on CRA related applications and notices, new CRA related loans, investments and strategies.

+ Address and handle substantive matters, projects, etc., including providing legal support, advice and counsel to business units and senior management regarding lending products, services and other business matters.

+ Provide appropriate counsel and guidance to identify and mitigate potential risk or significant negative impact to the Bank.

+ Review and advise on loan provisions, complex borrower organizational documents and loan structuring.

+ Advise on new loan products, strategies, implementation and enhancements.

+ Draft, review, and negotiate agreements, contracts, other legal documents and create standard forms as necessary.

+ Work closely with cross-functional business partners, as part of a dynamic legal team, in support of Schwab’s lending initiatives to Affluent Clients, High Net Worth Individuals and Ultra High Net Worth Individuals, including its Pledged Asset Line of Credit, mortgage products, advisor loans, margin lending, unsecured lending, franchise loans and new loan products.

+ Provide legal support to Schwab’s Investor Services and Advisor Services businesses.

+ Provide advice and guidance on the laws and regulations impacting secured and unsecured loan origination, maintenance, servicing, loss mitigation and new product development.

+ Knowledge of the following laws and regulations: Uniform Commercial Code (UCC) Articles 8 and 9; Unfair, Deceptive or Abusive Acts or Practices (UDAAP) principles; Federal Trade Commission Act; Truth in Lending Act (TILA/Reg Z); Fair Credit Reporting Act (FCRA/Reg. V); Fair Debt Collection Practices Act (FDCPA); Equal Credit Opportunity Act (ECOA/Reg. B); and other laws affecting consumer and commercial lending.

+ Experience advising clients with respect to legal issues arising in lending, consumer protection, financial services and operations.

+ Assist in the development and implementation of policies, procedures and best practices and advise business units and senior management of potential legal risks and implications of the same.

+ Assign, manage and monitor matters to outside counsel.

+ Advise on default and loss mitigation strategies..

+ Support bank compliance and regulatory activities as they relate to Banking and Trust Services

+ Develop, provide and manage training and presentations on complex legal matters.

+ Assess, identify and resolve significant and complex legal issues with substantial risk exposure and risk management strategies.

What you have

To ensure that we fulfill our promise of “challenging the status quo,” this role has specific qualifications that successful candidates should have:

Required Qualifications:

+ J.D. or Master of Laws from an accredited law school and state bar admission in good standing. (Texas, AZ, NY, NV, CA, IL preferred).

+ At least 5+ years of transactional legal experience with either a U.S. law firm and/or in-house legal department with a focus on bank lending transactions and related matters.

+ Preferat least 3 years relevant experience in representing financial institutions in transactional and regulatory aspects of community reinvestment activities.

+ Will strongly consider a savvy, flexible bank lending attorney with experience handling a variety of deal types, including secured or unsecured lending, mortgages, securities based lending and troubled debt/loss mitigation.

+ Knowledge of applicable banking laws, including the CRA and related law and guidance.

+ An understanding of banking laws, regulations, secured and unsecured debt transactions and the UCC.

+ Familiarity with private banking offerings, including credit products and estate/trust law.

+ Demonstrated eagerness and ability to seek and adopt new technological solutions.

Preferred Qualifications:

+ Strong organizational, interpersonal and communication skills (verbal and written) with the ability to collaborate with all levels of staff including senior management.

+ Excellent written and oral communications skills.

+ Proven ability to establish foundations for influence, building credibility and open, trusting relationships.

+ Team player with a strong focus on collaboration.

+ Demonstrated ability to work in a fast-paced environment, respond to shifting requirements and business obstacles, and achieve practical solutions.

+ Strong analytical skills and demonstrated judgment to evaluate risks, costs, and benefits.

In addition to the salary range, this role is also eligible for bonus or incentive opportunities

What’s in it for you

At Schwab, we’re committed to empowering our employees’ personal and professional success. Our purpose-driven, supportive culture, and focus on your development means you’ll get the tools you need to make a positive difference in the finance industry. Our Hybrid Work and Flexibility approach balances our ongoing commitment to workplace flexibility, serving our clients, and our strong belief in the value of being together in person on a regular basis.

We offer a competitive benefits package that takes care of the whole you – both today and in the future:

+ 401(k) with company match and Employee stock purchase plan

+ Paid time for vacation, volunteering, and 28-day sabbatical after every 5 years of service for eligible positions

+ Paid parental leave and family building benefits

+ Tuition reimbursement

+ Health, dental, and vision insurance

What’s in it for you:

At Schwab, we’re committed to empowering our employees’ personal and professional success. Our purpose-driven, supportive culture, and focus on your development means you’ll get the tools you need to make a positive difference in the finance industry. Our Hybrid Work and Flexibility approach balances our ongoing commitment to workplace flexibility, serving our clients, and our strong belief in the value of being together in person on a regular basis.

We offer a competitive benefits package that takes care of the whole you – both today and in the future:

401(k) with company match and Employee stock purchase plan

Paid time for vacation, volunteering, and 28-day sabbatical after every 5 years of service for eligible positions

Paid parental leave and family building benefits

Tuition reimbursement

Health, dental, and vision insurance

Schwab is an affirmative action employer, focused on employing and advancing in employment, qualified women, racial and ethnic minorities, protected veterans, and individuals with disabilities in the workplace. If you have a disability and require reasonable accommodations in the application process, contact Human Resources at [email protected] or call 800-275-1281.