Lincoln Financial Network (LFN) is the retailfinancialdistributionchannel for Lincoln Financial Group. It is comprised of two dually-registered broker-dealers and investment advisers and two insurance agency channels. The AVP, Senior Counsel will be responsible for developing and assisting with the overall legal, regulatory and compliance aspects of LFN’s retailwealth management services offered with a focus on LFN’s investment advisory platform and services. S/he will work closely with LFN’s senior management and compliance personnel in LFN’s advisory services, legal, finance, operations and marketing groups.
The individual must possess a comprehensive understanding of investment advisory programs and solutions (managed accounts, financial planning, third-party managed programs, solicitor models, etc.) and their related SEC regulatory requirements, filings and disclosures (Form ADV).
- Manage the drafting, updating, filing, delivery and maintenance of firm’s Form ADV disclosure brochures. Must have thorough understanding of investment advisory fiduciary responsibilities and appropriate disclosure of conflicts of interest. Recommend new disclosures as appropriate and coordinate with business units to facilitate updates to Form ADV as required.
- Identify risks and conflicts of interest related to the firm’s fee-based business model. Work independently with business partners to identify these risks and conflicts and work towards ensuring firm has policies, procedures and controls to mitigate or eliminate them.
- Provide direction and guidance and serve as subject matter expert to internal/external business associates and business lines on investment advisory regulatory issues, including fiduciary responsibility, strategic relationships, and permissible activities under firm policy. Review, develop and draft necessary contractual and disclosure documents related to these business lines.
- Participate in regulatory examinations and prepare responses for inquiries relating to investment advisory processes and procedures. Collaborate with appropriate stakeholders to develop and implement remediation plans for issues noted during examinations.
- Provide compliance and legal support and guidance to the LFN Managed Account business, IA Compliance program and AVP, Advisory Compliance, including facilitating reviews of compliance policies and procedures, compliance testing, year-end reporting, assisting with investment advisory compliance policies, suitability and surveillance processes, and consulting with LFN Investment Advisory business partners
- Assist with and support annual 206(4)-7 reviews of investment adviser’s policies, procedures, and controls as needed.
- Develop communications regarding current issues in advisory compliance, and new or updated compliance policies or SEC regulations for Compliance Alerts to home office and field associates.
- Manage complex legal projects, as requested by management
Education and Licensing
- Bachelor’s Degree required
- Juris Doctor degree (J.D.) required and licensed to practice law in Pennsylvania or any state with an ability to become licensed in Pennsylvania after hire.
- 10+ years’ experience in investment advisory legal and compliance responsibilities that directly align with the specific responsibilities for this position (Required)
- Prior experience working for mid to large size financial institution or law firm is preferred
- Knowledge and familiarity with the Investment Advisers Act of 1940, the Investment Company Act of 1940, the Securities Exchange Act of 1934, and SEC and FINRA regulations applicable to each
- ERISA knowledge is preferred
- Excellent oral and written communication skills, including the ability to communicate detailed and complex information to others at all levels of the organization and the ability to effectively draft contractual documents and disclosures.
- Ability to serve as a trusted advisor, strategic partner and collaborator with peers, business units, leaders, and outside business partners
- Finds common ground and can gain collaboration among senior management, colleagues and peers to influence outcomes.
- Demonstrated ability to develop policies and procedures reasonably designed to achieve compliance with Federal securities laws, including the Investment Advisers Act and the rules under that Act
- Creative, flexible, responsive, solutions-driven approach to problem solving
- Demonstrated ability to lead, oversee and complete projects with minimal direction
- A demonstrated track record of consistently meeting and/or exceeding performance expectations
- Possesses a bias for action and avoids workplace distractions
- Drives performance targets and goals to completion #LI-CG1