Requisition Number: 73422
Position Title: Managing Legal Counsel – US Collective Funds
ABOUT THIS POSITION
As Managing Legal Counsel for US Collective Funds, you will lead a team of senior attorneys and legal professionals responsible for all legal matters and related rules governing the firm’s mutual funds and ETFs and related services (“US Collective Funds”). You and your team will work collaboratively to solve complex issues and legal questions posed by business units and investment staff with respect to matters related to the US Collective Funds.
This will include providing advice on the impact of new and proposed regulations as well as the development of new US Collective Funds and other similar vehicles, related services, strategies and initiatives. The Managing Legal Counsel will oversee the prospectus production process for the mutual funds and ETFs, which includes the necessary filings and governance actions as well as communications with the Securities Exchange Commission.
You will also oversee senior attorneys that draft advisory and sub-advisory investment management agreements, review and complete client Requests for Proposals and due diligence questionnaires and respond to internal and client questions regarding mutual fund and ETF applicable regulations and disclosure requirements. The Managing Legal Counsel will also be responsible for preparing and presenting various matters to the Price Fund Board of Directors.
The candidate best suited for this role will have an in-depth understanding of mutual funds and ETFs, and their service providers as well as applicable regulations, including the Investment Company Act of 1940 and Investment Advisers Act of 1940. The candidate should have extensive background working on matters and responding to inquiries from senior leaders and investment staff relating to legal questions regarding US Collective Funds and have experience presenting to mutual fund/ETF board of directors. The candidate should also have experience managing a team of senior attorneys and legal professionals who perform these responsibilities.
ROLE SUMMARY
Leads a team of attorneys and legal professionals to provide practical advice on all matters relating to the US Collective Funds. Partners with business, Legal, and Compliance colleagues to influence decisions related to the business unit’s support of the US Collective Funds. Provides leadership and direction, typically to senior-level business unit associates focused on the development and ongoing maintenance of the US Collective Funds. Provides advice on proposed, new and existing rules and regulations affecting the US Collective Funds, with a primary focus on the Investment Company Act of 1940 and the Investment Advisers Act of 1940. Presents to the mutual fund/ETF Board of Directors.
RESPONSIBILITIES
- Manages other attorneys and oversees the work of legal professionals to support the needs of T. Rowe Price’s US Collective Funds business and compliance with applicable rules.
- Provides practical legal advice to business unit leaders on complex matters.
- Works with business, Legal and Compliance colleagues to develop business unit policies and procedures.
- Possesses a thorough understanding of the US Collective Funds and corresponding services (i.e., transfer agent, fund accounting, custody, etc.) as well as the ability to respond to legal issues that can involve new or novel issues.
- Manages projects involving outside counsel.
- Advises on decisions regarding business unit issues impacting the US Collective Funds.
- Communicates with individuals on different levels, both internal and external to the Legal Department.
- Effectively influences stakeholders to adopt critical legal advice and recommendations.
- Conducts sophisticated analyses of legal and business problems and develops sound legal strategies that balance firm interests with legal risks.
- Leads others in solving complex issues and identifying innovative solutions.
TYPICAL QUALIFICATIONS
JD Required
15+ years of total relevant work experience and 10+ years of management experience.
PREFERRED (OR ESSENTIAL) QUALIFICATIONS
An ideal candidate will have both a strong working knowledge of the laws/rules affecting US Collective Funds, including Investment Company Act of 1940, Investment Advisers Act of 1940. Familiarity with relevant provisions of the Securities Exchange Act of 1934.
Previous experience advising on legal matters relating to the US Collective Funds, including working with Product development, Investment Staff, Senior Leaders and a mutual fund/ETF Board or Directors.
Experience managing senior attorneys and legal professionals.
FINRA Requirements
FINRA licenses are not required and will not be supported for this role.
Work Flexibility
This role is eligible for hybrid work, with up to two days per week from home.
City: Maryland
State: US
Company Profile:
Commitment to Diversity, Equity, and Inclusion: We strive for equity, equality, and opportunity for all associates.
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