Job Overview:LPL Financial seeks an experienced attorney to join its corporate legal advice team as Vice President, Assistant General Counsel. This VP will report to a Senior Vice President and be part of team responsible for providing strategic legal advice with respect to the onboarding, due diligence, sales and ongoing controls related to Alternative Investments, Complex Products and Digital Assets. The team focuses primarily on LPL's broker-dealer business but also provides support to the investment advisory business. This position entails partnering with the following teams at LPL (1) Alternative Investment Product (2) Compliance; (3) Supervision and Surveillance; (4) Product Due Diligence, Onboarding and Research; and (5) Risk Management. The position will focus on counseling the firm's Product Review group with respect to due diligence requirements, sales practices and controls around alternative investments, complex products and digital assets.
The ideal candidate is one who can thrive in a fast-paced business environment and can manage a substantial docket autonomously. A qualified candidate will have relevant experience within a law firm, counseling the financial services industry, specifically the broker-dealer and retail investment advisory business with respect to federal, state and SRO regulatory compliance, enforcement defense, and/or agency or private civil litigation/arbitration defense.
Responsibilities:- Day-to-day legal support for LPL's alternative investments platform, including providing legal analysis and advice with respect to compliance with applicable rules, regulations and legal risks relating to the brokerage and investment advisory business
- Draft, review and revise agreements with alternative investment sponsors for the onboarding of products onto LPL's alternative investments platform
- Counseling on due diligence standards and establishing proper protocols for the onboarding and sale of alternative investments and complex products
- Reviewing, revising and developing internal policies and procedures in response to business initiatives and regulatory developments
- Performing legal research and drafting memorandums concerning compliance with applicable laws, rules and regulations
- Interacting with other members of the Legal Department as well as other LPL units mentioned above.
What are we looking for?We're looking for strong collaborators who deliver exceptional client experiences and thrive in fast-paced, team-oriented environments. Our ideal candidates
pursue greatness,
act with integrity, and are
driven to help our clients succeed. We value those who embrace creativity, continuous improvement, and contribute to a culture where we
win together and
create and share joy in our work.
Requirements:- 6+ years experience in dealing with issues arising under the Securities Exchange Act, Investment Advisers Act of 1940, Investment Company Act of 1940, FINRA rules and regulations as well as related federal and state securities laws, with a focus on sales of complex products, alternative investments and digital assets
- Proficiency in legal writing, performing legal research (LexisNexis preferred) and written communication skills
- Working knowledge of federal securities laws and rules making process; regulatory notices; interpretive guidance; and agency interpretations
- Working understanding of alternative investments, including but not limited to, hedge funds, VC funds, private equity funds, public non-traded products, business development corporations, private credit and other private placements
- Understanding of regulatory landscape applicable to broker-dealers and registered investment advisers, including a familiarity with regulatory processes (SEC and FINRA).
- Responsibility for a range of work with a particular focus on advising on the regulation, establishment, management, governance and marketing of private funds which invest in securities in both private and public markets (equity and debt as well as other asset classes such as credit, real estate, infrastructure and impact investing)
- Interest or experience in artificial intelligence utilization
Core Competencies:- Ability to interface effectively with internal personnel as well as LPL financial advisors and institutional clients and their counsel
- Ability to understand and assess a wide variety of complex business models
- Highly-motivated self-starter able to work independently while collaborating and coordinating as part of a global program
- Analytical and problem-solving skills and the ability to provide viable solutions in a time-sensitive environment
- Written and verbal communications skills, attention to detail, and effective time management
- Sound judgment and an ability to appropriately escalate issues internally
- Proven ability to handle highly confidential information professionally and with appropriate discretion
- Interpersonal skills and team-player attitude
#LI-PA
Pay Range: $168,611.00 - $281,087.00
Actual base salary varies based on factors, including but not limited to, relevant skill, prior experience, education, base salary of internal peers, demonstrated performance, and geographic location. Additionally, LPL Total Rewards package is highly competitive, designed to support your success at work, at home, and at play - such as 401K matching, health benefits, employee stock options, paid time off, volunteer time off, and more. Your recruiter will be happy to discuss all that LPL has to offer!
