Who we are looking forThe Senior Legal Counsel (VP) - Wealth, Custody & Clearing - Retail Brokerage is a senior legal advisor within State Street's newly established Wealth business line. Reporting to the SVP, Head of Alpha and Wealth Services Legal, this role serves as the primary subject matter expert and strategic legal advisor for the firm's retail brokerage activities, a core component of State Street's Wealth strategy. The position requires a sophisticated legal executive with deep expertise in relevant regulatory frameworks, commercial arrangements, and market conduct standards. The successful candidate will exercise strong judgment and commercial acuity, and will be looking for a fast-paced, strategically critical environment.
What you will be responsible for - Provide comprehensive legal support for the firm's Wealth businesses with a particular focus on the retail brokerage elements of State Street's Wealth initiatives.
- Advise on SEC, CFTC, applicable bank regulation, and other applicable regulatory requirements applicable to retail brokerage functions in a wealth environment.
- Oversee the development of standard documentation process and disclosures and ultimately the negotiation of all relevant contracts including with RIAs, clearing brokers and other commercial parties.
- Support new product development opportunities driven by the Wealth Services business by identifying and addressing legal, commercial and regulatory considerations
- Collaborate with business, operations, and compliance teams to ensure regulatory compliance in all activities
- Monitor regulatory developments and provide strategic advice on implementation of new regulations
- Represent the firm in industry groups and regulatory discussions
- Manage relationships with external counsel on complex matters
- Provide training to business units on relevant legal and regulatory issues
What we valueThese skills will help you succeed in this role:
- Results oriented with strong project management and execution skills
- Strong interpersonal, communication and customer service skills with ability to sustain strong relationships with clients, peers and senior management
- Ability to interact with multiple levels in an organization and in multiple jurisdictions
- Keen understanding of market practice impacting the business lines in the relevant jurisdictions and ability to work with business units to achieve practical solutions within applicable regulatory and risk parameters
- Strong time management, planning and organizational skills
- Ability to work independently but also thrive in a global, dynamic and team-oriented environment
- Flexibility and an eagerness to learn
Qualifications- JD degree from an accredited law school
- 10+ years of legal experience in retail brokerage
- In-depth knowledge of SEC, CFTC, FINRA and bank regulations applicable to broker dealers
- Extensive experience with clearing agreements, brokerage agreements and RIA documentation
- Previous experience at a financial institution, law firm with strong financial services practice, or regulatory agency
- Excellent analytical skills and attention to detail
- Strong communication and interpersonal skills
- Ability to explain complex legal concepts to non-legal colleagues
Salary Range: $120,000 - $217,500 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Employees are eligible to participate in State Street's comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.
For a full overview, visit https://hrportal.ehr.com/statestreet/Home.
