General Counsel in Vancouver, Toronto, or Mississauga

March 27, 2024
Our client, Central 1, is a leading financial services provider. With two hundred and fifty financial institution clients, five million Canadian users and over seven hundred employees, Central 1 has been powering Canada’s credit unions by fueling their liquidity and trailblazing digital innovations that enable them to thrive. Guided by a strong set of core values and purpose, Central 1 is shaping the future of financial services in Canada. In March 2024, it received global recognition for its commitment to responsible investment and was recognized for its leadership in the inclusion of social, environmental and governance factors in its investment strategies.
Central 1 specializes in providing innovative digital banking and payment solutions to credit unions and financial institutions across Canada. Central 1 aims to empower its clients with the technology and services needed to meet the evolving demands of today’s banking customers. Through its comprehensive suite of digital banking platforms, Central 1 enables seamless transactions, enhanced security, and improved member experiences for millions of Canadians.
This is an exceptional opportunity for a forward-thinking lawyer to excel in a dynamic, innovative environment and take on a leadership role.

Job Description – General Counsel


Central 1 is seeking a well-rounded General Counsel to join its team. The General Counsel will lead and manage Central 1’s legal team, provide legal advice to all functional areas of Central 1, and assume responsibility for fostering organizational awareness through ongoing legal training and support.
As the preferred candidate, you will have at least ten years of corporate commercial law experience, with a focus on financial services/banking, preferably at a major law firm and/or in the financial services industry. You must have excellent leadership skills and a demonstrated track record of effectively managing a team. Success in this position requires excellent communication and relationship-building skills, as well as strong business acumen, sound judgement.
The ideal candidate should be driven by the ambition to democratize financial services, ensuring accessibility and efficiency in the banking and payments ecosystem. Through your work at Central 1, you will play a crucial role in shaping the future of financial services in Canada, contributing to a more inclusive and technologically advanced banking environment.

Key Accountabilities and Responsibilities

  • Provide strategic and enterprise legal advice to the Board and Executive to support the development and implementation of Central 1’s strategy and associated initiatives.
  • Possess subject matter expertise and provide practical legal and business advice on matters involving commercial finance, financial services regulations, (including Basel III, FATCA, anti-money laundering regulations and the CPA Rules), technology licensing/software, and privacy regulations.
  • Draft and negotiate legal agreements in connection with a variety of complex transactions.
  • Advise on existing contractual arrangements and questions of contract interpretation.
  • Manage external legal expenditures and foster ongoing relationships with external counsel.
  • Oversee major legal projects, including those related to significant organizational initiatives, business line reorganizations, regulatory compliance and matters affecting the broader credit union system.
  • Lead and manage a team of legal counsel and professional staff, including recruiting, developing and motivating team members through clear direction and performance management.
  • Provide enterprise leadership to the organization to assist in delivering on corporate strategy and initiatives.
  • Proactively working with all stakeholders to support regulatory compliance including anti-money laundering, privacy and other compliance obligations.
  • Documenting and reporting on compliance risk and compliance status, including instances of material non-compliance, to applicable management staff and board committees.
  • Ensure all regulatory filings, disclosures and other governance/corporate filings are completed under applicable law.
  • Advise the Board and its Committees as required.
  • Operate in a multiple office environment, with the option to be remote or hybrid.

Education and Professional Skills/Knowledge

  • LL.B. or J.D. degree (or equivalent).
  • Good standing with a Canadian Law Society.
  • 10+ years of corporate commercial law experience, with a focus on financial services/banking, preferably at a major law firm and/or in the financial services industry.
  • Proven people-management experience leading legal professionals, including providing legal, business and relationship-building direction, coaching and recognition.
  • Working knowledge of privacy, compliance and anti-money laundering programs as they relate to a financial institution.
  • Familiarity with governance, control frameworks and best practice standards for compliance in the financial services industry.
  • An understanding of IT, data management systems and personal information protection measures.
  • Excellent leadership, communication, influencing, training and presentation skills, as well as the ability to interact effectively with varied teams and professionals across the organization.
  • Ability to craft innovative, business-oriented solutions and assist in executing them.
  • Possess a willingness to tackle matters of first impression and matters outside of areas of expertise.
  • Ability to operate independently and reliably under tight timeframes in a fast-paced, rapidly changing environment.
The salary range for this position is $152,000 – $220,000, plus an annual incentive plan, comprehensive benefits and retirement plan with contribution matching. 
This is an exclusive search.
The Counsel Network, a Caldwell company is committed to building a diverse legal community through our inclusive business and recruitment practices. We value diversity of experience, expertise, and background, and strive to eliminate barriers historically encountered by marginalized groups. We recognize that an equitable, diverse, and inclusive workforce benefits and enriches both the legal profession and the greater community.
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