Associate General Counsel

  • FINRA (Financial Industry Regulatory Authority) - Rockville, MD
  • Remote
  • Aug 31, 2022
Full time Finance Legal

Job Description

This position is responsible for directing and managing the complete life cycle of the adoption of new regulatory requirements. The incumbent provides expert knowledge to the Board of Governors and senior management, advising them on high-impact, legally and politically complex and sensitive regulatory initiatives and rule changes. This position is recognized by FINRA and the industry as the top/ primary expert in a particularly complex and unique subject matter area(s) pertaining to regulatory policy, rendering independent expert advice in these areas. The incumbent also would act under the supervision of the Senior Vice President and Director of Capital Markets as the primary coordinator of the policy and rulemaking functions within the Capital Markets Group of OGC, including overseeing preparation of board and committee materials, regulatory notices, rule filings, multiple NMS Plan participation, SEC outreach and economic impact assessments of rulemakings. The incumbent must have demonstrated ability to perform these functions with minimal or no supervision, as well as consistent demonstration of high-level independent judgment with the ability to take responsibility for the exercise of that judgment.

Essential Job Functions:

  • Advise the Board of Governors and FINRA advisory committees with respect to high-impact, legally and politically complex and sensitive regulatory initiatives and rule changes under consideration by the Board.
  • Brief and communicate complex and sensitive regulatory initiatives to senior executives of FINRA. Must be able to provide such analysis under urgent deadlines.
  • Serve as the key source of legal expertise within FINRA in one or more subject areas and provide independent expert advice on questions and issues as they arise. Subject area expertise relate to trading practices, market integrity and market structure in equities, options and fixed income including order handling requirements, trade reporting and other transparency initiatives; SEC mandates including Consolidated Audit Trail, Regulation SCI, Regulation NMS, Regulation SHO, SEC Rule 15c3- 5 and SEC Rule 15c2-11; FINRA’s quoting and trade reporting mechanisms, including TRACE, the Alternative Display Facility (ADF) and Trade Reporting Facilities (TRFs); and FINRA trading-related fees, including TAF and Section 31/Section 3.
  • Represent FINRA before industry and self-regulatory organization/inter-market groups.
  • Prepare and oversee the preparation of Board materials that contain sophisticated analyses and discussions of competing policy or political considerations necessary for the informed judgment of the issues by the Board.
  • Draft and review the drafting of new rule proposals; gather and incorporate views of industry participants, other regulators, and senior staff; and prepare rule filings to the SEC.
  • Serve as the primary coordinator in conducting economic impact assessments of rulemakings in the capital markets area of OGC, working closely with the Office of the Chief Economist.
  • Prepare Regulatory Notices, rule guidance, and other correspondence with member firms and their outside counsel.
  • Conduct legal and other research into matters of regulatory policy as necessary to (1) develop rule proposals and to respond to internal and external comments, and (2) respond to interpretive and exemptive requests.
  • Take a leadership role in identifying and presenting original, creative, innovative, and sophisticated solutions and proposals for changes to existing rules, including rules and guidance needed to address the constantly evolving nature of trading within the securities markets.
  • Provide expert-level legal counsel and assistance to projects and initiatives of other departments, supporting them in achieving their goals.
  • Serve as primary liaison to FINRA committees as assigned.
  • Lead and coordinate the efforts of other OGC legal staff in the completion of work projects.
  • Analyze SEC, industry and other self-regulatory organization initiatives, and develop and maintain cooperative working relationships with other regulators.
  • Be the recognized expert and attend and be a sought-out speaker at regulatory policy public conferences and meetings of FINRA committees on areas of subject matter expertise.
  • Manage public communication of FINRA proposals and legal interpretations to member firms, members of the bar, the media, and other interested parties.

Other Responsibilities:

  • Lead or participate in ad hoc special projects and initiatives as requested.
  • Train and mentor other OGC attorneys and assist in supervising and directing regulatory analysts, paralegals and administrative assistants in OGC.
  • Support enforcement of office procedures concerning regulatory proposals and legal interpretive positions; provide and implement suggestions to increase efficiency and effectiveness of procedures.

Education/Experience Requirements:

  • Law degree from an accredited law school, admission to a bar, and 10+ years of relevant legal experience.
  • Highly developed expertise in a specialized area of knowledge that is both technically complex and central to the overall mission of the organization; and expert knowledge of rules, regulations and guidelines governing the securities industry.
  • Excellent oral and written communication skills. Excellent interpersonal skills.

Work Conditions:

  • Normal office conditions. Occasional travel and extended hours may be required. Public speaking and appearing at regulatory conferences are required.

#LI-Hybrid

To be considered for this position, please submit an application.

The information provided above has been designed to indicate the general nature and level of work of the position. It is not a comprehensive inventory of all duties, responsibilities and qualifications required.

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Employees may be eligible for a discretionary bonus in addition to base pay. FINRA also provides a variety of benefits including comprehensive health and welfare benefits, life and disability insurance, paid holidays, vacation, personal, and sick leave. FINRA offers immediate participation and vesting in a 401(k) plan with company match. You will also be eligible for participation in an additional FINRA-funded retirement contribution, our tuition reimbursement program and many other benefits. If you would like to contribute to our important mission and work collegially in a professional organization that values intelligence, integrity and initiative, consider a career with FINRA.

Important Information

FINRA’s Code of Conduct imposes restrictions on employees’ investments and requires financial disclosures that are uniquely related to our role as a securities regulator. FINRA employees are required to disclose to FINRA all brokerage accounts that they maintain, and those in which they control trading or have a financial interest (including any trust account of which they are a trustee or beneficiary and all accounts of a spouse, domestic partner or minor child who lives with the employee) and to authorize their broker-dealers to provide FINRA with duplicate statements for all of those accounts. All of those accounts are subject to the Code’s investment and securities account restrictions, and new employees must comply with those investment restrictions—including disposing of any security issued by a company on FINRA’s Prohibited Company List or obtaining a written waiver from their Executive Vice President—by the date they begin employment with FINRA. Employees may only maintain securities accounts that must be disclosed to FINRA at one or more securities firms that provide an electronic feed (e-feed) of data to FINRA, and must move securities accounts from other securities firms to a firm that provides an e-feed within three months of beginning employment.

You can read more about these restrictions here.

As standard practice, employees must also execute FINRA’s Employee Confidentiality and Invention Assignment Agreement without qualification or modification and comply with the company’s policy on nepotism.

Search Firm Representatives

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