The Legal Counsel (LC) will be a member of the Global Advisory - U.S. Institutional team, providing legal advice and guidance on various institutional investment advisory matters in support of a variety of business units and legal entities within the T. Rowe Price organization. The LC may engage in a variety of functions, including negotiating institutional and private asset management (i.e., high net worth) separate account agreements and amendments; negotiating agreements with program sponsors for the firm’s separately managed accounts business; supporting the build-out of a new investment adviser; drafting and reviewing documents related to private funds; supporting legal filings such as the Form ADV; and providing legal support and guidance to firmwide strategic initiatives as well as departmental projects. Additionally, this role will be responsible for coordinating and working with Senior Legal Counsels regarding issues relating to the Investment Advisers Act as well as other rules & regulations impacting investment advisers (e.g., CFTC rules).
Requires specialized knowledge and expertise in their own job discipline and deep experience in integrating related disciplinary knowledge
Leads disciplinary or cross-functional program of notable risk; uses sophisticated analytical thought to identify innovative solutions
Accountable for work of self and others; sets standards around which others will operate
Works independently, with guidance in only the most complex situations
Acts as advisor to management and key external stakeholders on broad ranging projects
Reviews presented business issues related to investment advisory activities, conducts legal research and investigations, and crafts legal solutions, balancing internal and external stakeholder interests with the risks of adverse legal actions, revenue loss, or reputational damage to the entity. Issues are typically complex or without much precedence and require creative solutions. May enlist more junior colleagues to conduct more routine assignments within large-scale matters/issues.
Communicates and collaborates with leaders who also serve in an advisory or oversight capacity, such as compliance, risk, audit, etc., and develops the legal response/position for complex issues identified as significant risks or areas of noncompliance. Coordinates with global colleagues on matters of broad relevance. Reviews summaries of legal matters and due diligence activities prepared by less experienced professionals for accuracy.
Maintains an in-depth understanding of practice or functional area products and services or specializes in a specific product or practice area. Maintains expert knowledge of all regulators relevant to the practice or functional areas. Advances knowledge through participation in external industry or professional events.
Handles a portfolio of moderate to complex, often specialized, legal issues, including serving as an advisor to internal and external stakeholders, including outside counsel, relevant to issues affecting the assigned entities.
Provides work guidance and mentoring to less experienced attorneys or other legal department colleagues. May manage a micro-team.
Job Family: Legal Counsel
Track/Level: Knowledge Management 4
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Law Degree from accredited School of Law and admission to the MD State Bar or other State Bar AND 5+ years of total relevant work experience
Attorney with in-house asset management experience and 5+ years’ experience in practice area
Experience negotiating investment management agreements for institutional and high net worth clients
Experience interacting with Investment, Distribution, Operations and Trading groups within the institutional asset manager
Experience with the Investment Advisers Act and related regulatory regimes (e.g., CFTC, Exchange Act, Investment Company Act)
Demonstrated experience interacting with other attorneys, legal analysts and compliance groups
Ability to interact effectively and work in partnership with a diverse group of internal and external contacts
T. Rowe Price - Who We Are
• Globally diversified investment management firm based in Baltimore, Maryland managing $1.5 trillion in assets (as of 3/30/21) with offices in 12 countries
• Preeminent investment research organization that has consistently produced strong investment performance over the long term
• Analysts consistently recognized as some of the best in the industry
• Corporate culture based on diversity of thought, collaboration and development
• Senior management team made up of individuals with 24 years of experience on average