VP Asst General Counsel (Alternative Investments)

Are you a team player? Are you curious to learn? Are you interested in working on meaningful projects? Are you solution-oriented and committed to delivering results? Do you like thinking outside the box, learning new skills and problem solving? If so, then this could be the role for you!  

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 responsible for providing strategic legal advice with respect to the onboarding, due diligence, sales and ongoing controls related to Alternative Investments and Complex Products. The team focuses primarily on LPL’s broker-dealer business but also provides support to the investment advisory business. This position entails advising LPL’s (1) Compliance team; (2) Supervision and Surveillance teams; (3) Product Due Diligence and Onboarding teams; and (4) its Risk Management groups. 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.

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 financial services business, 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.
• Counseling on due diligence standards and establishing proper protocols for the onboarding and sale of alternative investments.
• 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 including, amongst other departments, Supervision, Compliance and Risk.

What are we looking for?

This position requires excellent communication skills, both verbal and written.  The candidate must demonstrate keen strategic thinking, and have excellent analytical, project management and time management abilities.  The candidate will be expected to perform thorough legal research and document such analyses and conclusions. Presentation skills are also highly important. Provide timely escalations to partners within LPL’s control functions, including risk assessments and status updates of matters for executive management.

Requirements:

• 5-9 years of 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 and alternative investments.
• Proficiency in legal writing, performing legal research (LexisNexis preferred) and written communication skills.
• Strong 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 and 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)
• Proficiency with MS Word, Excel, PowerPoint, and Outlook

Core Competencies:

• Ability to interface effectively with internal personnel as well as LPL advisors, 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
• Strong analytical and problem-solving skills and the ability to provide viable solutions in a time-sensitive environment
• Exceptional 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
• Outstanding interpersonal skills and team-player attitude

#LI-PA

Pay Range:

$180,100-$300,100/year
 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!
 

Company Overview:

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional.

At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services, and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.

Join LPL Financial: Where Your Potential Meets Opportunity

At LPL Financial, we believe that everyone deserves objective financial guidance. As the nation’s leading independent broker-dealer, we offer an integrated platform of cutting-edge technology, brokerage, and investment advisor services.

Why LPL?

• Innovative Environment: We foster creativity and growth, providing a supportive and responsive leadership team. Learn more about our leadership team here!

• Limitless Career Potential: Your career at LPL has no limits, only amazing potential. Learn more about our careers here!

• Unified Mission: We are one team on one mission—taking care of our advisors so they can take care of their clients. Learn more about our mission and values here!

• Impactful Work: Our size is just right for you to make a real impact. Learn more here!

• Commitment to Equality: We support workplace equality and embrace diverse perspectives and backgrounds. Learn more here!

• Community Focus: We care for our communities and encourage our employees to do the same. Learn more here!

• Benefits and Total Rewards: Our Total Rewards package goes beyond just compensation and insurance. It includes a mix of traditional and unique benefits, perks, and resources designed to enhance your life both at work and at home. Learn more here!

Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please log in or create an account to apply to this position. Principals only. EOE.

Information on Interviews:

LPL will only communicate with a job applicant directly from an @lplfinancial.com email address and will never conduct an interview online or in a chatroom forum.  During an interview, LPL will not request any form of payment from the applicant, or information regarding an applicant’s bank or credit card.  Should you have any questions regarding the application process, please contact LPL’s Human Resources Solutions Center at (855) 575-6947.

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