This is a fast-paced, diverse and challenging job as legal counsel to multiple retail-focused business units of broker-dealer and registered investment adviser, Charles Schwab & Co., Inc. You will work daily with manager, director and officer level business clients as a trusted counselor and partner, helping them to design and handle retail brokerage and investment advisory products and services against the evolving backdrop of federal and state regulation.
What you’re good at
You will be the primary legal advisor for the inception, design and launch of new retail broker-dealer and investment adviser products and services, including due diligence of strategic acquisition opportunities. This role will require expertise in the relevant regulatory regimes as well as an ability to work reciprocally and creatively with business, Compliance and Risk Management colleagues, including advising them on aspects of Schwab’s processes and procedures for evaluating and approving new products and services.
Post-launch, you will be the lead counselor for these same products and services, advising the business, Compliance, Risk Management, Internal Audit and other enterprise counsel on aspects of these processes, including, for example, the impact of new or existing regulations and other risk issues that might arise in the future.
Beyond that, you will act as a subject matter authority and a resource on specific new laws and regulations, analyzing and synthesizing new requirements to assess their impact on Schwab’s businesses and identify important questions and decisions.
What you have
You should have at least 7 years’ experience practicing law at a major law firm representing financial services firms or in-house with a large broker-dealer and/or investment adviser. Additional experience as a staff attorney with the Securities and Exchange Commission, FINRA or a state securities regulator would be very useful, though not required.
You must be thoroughly familiar with the Investment Advisers Act, the Securities Exchange Act and FINRA Rules and state laws and regulations relevant to broker-dealers and investment advisers, including an excellent practical understanding of their everyday applicability to business priorities.
You must have a working knowledge of the Enterprise Risk Management framework applied by large financial services firms for the identification, measurement, mitigation and resolution of key risks.
You will need excellent verbal and written communications skills, suitable for briefing very senior business executives.
You will need to have a knack for communicating in ways that non-lawyer business partners can appreciate and understand.
Building trust and rapport with your business clients will be a primary goal, as will setting the expectation that you will be a highly engaged and responsive partner in their work.