General Counsel

Community Financial System, Inc.

Woburn (MA)

On-site

USD 180,000 - 320,000

Full time

6 days ago

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Job summary

Community Financial System, Inc. (CFSI) seeks an experienced General Counsel to lead the legal function for NRS/GTC, reporting to the CEO and partnering with executive leadership to drive compliant growth.

The ideal candidate will have deep expertise in ERISA, Collective Investment Trusts (CITs), LLC structures, and general securities law, with a proven track record managing external counsel and aligning legal strategy with business objectives.

Qualifications

Experience leading in-house legal teams in financial services or asset management.
Deep expertise in ERISA, CITs, LLC structures, and securities law.
Proven ability to manage external counsel, budgets, and workloads.

Responsibilities

Lead the legal function for NRS/GTC and report to the CEO.
Advise on ERISA, CITs, LLCs, and securities law across business units.
Oversee compliance, corporate governance, and regulatory affairs.

Skills

ERISA

CITs

LLCs

Securities law

External counsel management

Corporate governance

Contracts & agreements

Regulatory compliance

Education

J.D. from an accredited law school

Job description

Overview

At Community Financial System, Inc. (CFSI), we are dedicated to providing our customers with friendly, personalized, high-quality financial services and products. Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. Beyond retail banking, we also offer commercial banking, wealth management, investment management, insurance and risk management, and benefit plan administration.

Job Description

Overview

Just as our employees are committed to helping our customers manage their finances, we’re committed to our employees. After all, they make it happen for our customers every day.

To ensure our people can enjoy long and successful careers here at CFSI, we offer competitive compensation, great benefits, and professional development and advancement opportunities. As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.

Responsibilities

We are seeking an experienced legal professional to be the General Counsel of NRS/GTC to lead our legal function and provide expert guidance on all aspects of our business. This role will report to the CEO of NRS & GTC and work closely with executive leadership and business units to support our growth, manage risk, and ensure compliance with applicable laws and regulations.

The ideal candidate will have deep expertise in ERISA, Collective Investment Trusts (CITs), LLC structures, and general securities law. In addition to typical General Counsel responsibilities, this role will be specifically accountable for managing the costs, allocation of work, and overall workload of external counsel to ensure optimal value and efficiency.

Essential Duties

Key Responsibilities

Legal Leadership & Strategy

Serve as the chief legal advisor to the CEO, executive team, and Board of Directors.
Develop and execute the company's legal strategy in alignment with business objectives.
Establish and maintain internal legal policies, processes, and standards.

ERISA & Retirement Plan Matters

Advise on all aspects of the Employee Retirement Income Security Act (ERISA), including plan design, administration, investments, and fiduciary responsibilities.
Provide guidance on retirement plan governance, disclosure, and compliance with applicable regulations.
Support the development and maintenance of products and services offered under ERISA-regulated structures.

Collective Investment Trusts (CITs)

Provide counsel on the structure, formation, and ongoing operation of Collective Investment Trusts.
Ensure CITs comply with applicable banking, securities, and ERISA-related regulations and guidance.
Coordinate with internal stakeholders and external service providers to support CIT product offerings.
Draft and review operating agreements, member agreements, and related governance documents. Including, but not limited to Participation Agreements, Offering Memorandums, side letters, etc…

LLC Structures & Corporate Entities

Advise on formation, governance, capitalization, and maintenance of LLCs and other corporate entities.
Draft and review operating agreements, member agreements, and related governance documents.
Ensure ongoing compliance with state and federal requirements for all legal entities.

Securities Law & Regulatory Compliance

Oversee compliance with federal and state securities laws, including disclosure obligations, filings, and transactional matters.
Advise on marketing, communications, and distribution activities to ensure adherence to securities regulations.
Monitor regulatory developments and recommend appropriate changes to policies and practices.

Corporate Governance

Serve as Secretary (or equivalent) to the Board of Directors, ensuring accurate minutes, records, and corporate documentation.
Support Board and committee governance, charters, and policies.
Develop and maintain codes of conduct, conflicts of interest policies, and other governance frameworks.

Contracts & Commercial Transactions

Draft, review, and negotiate a wide range of commercial contracts, including vendor agreements, service agreements, NDAs, technology and licensing agreements, Master Services Agreements and strategic partnership arrangements.
Develop standardized templates and playbooks to drive contracting efficiency and consistency.

Litigation, Investigations & Disputes

Oversee litigation, regulatory inquiries, and dispute resolution matters.
Manage strategy, case selection, and outcomes in collaboration with internal stakeholders and outside counsel.
Implement proactive measures to reduce litigation risk.

External Counsel Management & Cost Control

Select, onboard, and manage relationships with external law firms and other legal service providers.
Develop and implement strategies to manage and optimize legal spend, including budgeting, billing guidelines, fee arrangements, and matter staffing models.
Allocate work between internal resources and external counsel to ensure efficient use of internal capabilities and external expertise.
Regularly review outside counsel performance, cost-effectiveness, and matter outcomes, and adjust panel or preferred firm relationships as needed.

Risk Management & Compliance

Identify, assess, and advise on legal, regulatory, and reputational risks across the business.
Collaborate with compliance, risk, finance, operations, and HR to maintain effective control frameworks.
Develop and deliver training programs to enhance legal and regulatory awareness throughout the organization.

Cross-Functional Collaboration

Partner with leaders across the organization to support product development, operations, distribution, and strategic initiatives.
Provide practical, business-oriented legal advice that enables responsible growth.

Preferred Qualifications

Experience working in or with asset management, retirement services, banking, or other financial institutions.
Familiarity with related areas such as employment law, privacy/data security, information security, and mergers & acquisitions.
Experience building or leading an in-house legal function, including implementing processes, tools, and metrics for legal operations.

Qualifications

Education, Training, Experience, and Skill Requirements:

J.D. from an accredited law school and active membership in good standing with at least one U.S. state bar.
Minimum of 10 years of legal experience in a law firm and/or in-house legal department, with significant exposure to financial services, asset management, or a related sector.
Demonstrated expertise in ERISA, CIT structures, LLCs, and general securities law.
Proven experience managing external counsel, including cost controls, budgeting, and workload allocation.
Strong track record of drafting and negotiating complex commercial agreements.
Exceptional analytical, strategic thinking, and problem-solving skills, with the ability to translate legal requirements into practical business guidance.
Excellent communication and interpersonal skills, with experience advising executive leadership and boards.
High ethical standards, sound judgment, and strong business acumen.
All applicants must be 18 years of age or older