Job Details

ROLE SUMMARY

The General Counsel (GC) is the Bank's chief legal officer and a key member of the Senior Leadership Team. Reporting directly to the CEO and advising the Board of Directors, the GC provides strategic legal counsel across all areas of the Bank's operations. This includes oversight of legal and regulatory matters, corporate governance, capital formation, government programs, and enterprise-wide compliance. The GC plays a critical role in safeguarding the Bank's legal interests while supporting its mission-driven growth and innovation.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

Legal & Regulatory Oversight

• Serve as the Bank's chief legal advisor on matters including banking regulations, contracts, employment law, litigation, and corporate transactions.
• Manage all legal aspects of complex business transactions, including M&A, joint ventures, and strategic partnerships.
• Oversee relationships with external legal counsel, ensuring cost-effective and high-quality legal services.
• Ensure compliance with federal and state banking laws and regulations, including those from the OCC, FDIC, SEC, and other regulatory bodies.
• Provide legal support for investor relations, regulatory filings, and public disclosures.

Corporate Governance

• Serve as the Corporate Secretary, or advise and supervise the Corporate Secretary, depending on current assignments.
• Ensure governance practices comply with applicable laws, regulations, and best practices, including SEC and NASDAQ requirements.
• Oversee the preparation and review of Board materials, minutes, resolutions, charters, and regulatory filings.
• Advise on fiduciary duties, board effectiveness, succession planning, and governance modernization.
• Lead efforts to strengthen governance frameworks, board education, and compliance with evolving disclosure standards.

Capital Formation & Mission-Aligned Finance

• Provide legal oversight for capital raising activities, including private placements, structured finance, and investor due diligence.
• Collaborate with the CEO, CFO and Executive Leadership team to align capital strategies with regulatory and mission objectives.
• Support the legal structuring of innovative financial instruments and partnerships that advance the Bank's impact.

Government Programs & CDFI Compliance

• Oversee legal and compliance aspects of government-sponsored programs such as New Markets Tax Credits (NMTC), CDFI Fund initiatives, and U.S. Treasury partnerships.
• Ensure compliance with IRS, CDFI Fund, and other regulatory requirements governing these programs.
• Provide legal guidance on audits, program reviews, and structuring of future federal or state initiatives.

Compliance Leadership

• Provide executive oversight of the Bank's compliance management system.
• Partner with Compliance and Audit leaders to ensure effective monitoring, testing, and remediation processes.
• Promote a culture of ethics, accountability, and regulatory excellence across the organization.

Strategic & Executive Leadership

• Act as a trusted advisor to the CEO and Executive Leadership Team on legal, reputational, and regulatory matters.
• Represent the Bank in key external engagements, including regulatory, community, and industry forums.
• Model City First's values of integrity, inclusion, and service in all leadership actions.
• Other duties as assigned.

EDUCATION & EXPERIENCE

Required Education/Experience:

• Juris Doctor (J.D.) from an accredited law school.
• Active member in good standing of the bar (DC preferred or eligible for waiver).
• Minimum 10–15 years of progressive legal experience, ideally within a regulated financial institution or law firm serving such clients.
• Deep knowledge of banking laws, securities regulations, corporate governance, and compliance frameworks.
• Experience advising Boards of Directors and senior executives.
• Demonstrated success managing legal aspects of capital markets, M&A, and government programs.

Preferred Experience:

• Experience with CDFI, NMTC, or other mission-aligned financial instruments.
• Familiarity with community development finance, affordable housing, or small business lending.

KNOWLEDGE, SKILLS, AND ABILITIES REQUIRED

• Strategic Thinking: Ability to anticipate legal and regulatory trends and advise accordingly.
• Integrity & Ethics: Demonstrates sound judgment and a commitment to ethical leadership.
• Collaboration: Builds trust and alignment across departments and with external stakeholders.
• Communication: Exceptional written and verbal communication skills.
• Mission Orientation: Deep commitment to economic equity and community empowerment.