Investment Attorney (103953)

Employees Retirement System of Texas; Austin (TX); On-site; USD 120,000 - 180,000; Full time

Job summary

Employees Retirement System of Texas seeks an Investment Attorney to perform highly advanced legal work and to advise on securities, corporate, and finance-related matters. The role engages with the General Counsel, CIO, and investment professionals, including negotiations with private fund managers and external counsel.

The position requires a JD, Texas bar admission (or eligibility), and 3–5 years of related experience.

Qualifications

• J.D. from an accredited law school with licensure to practice law.
• 3–5 years of experience in securities, corporate, general transactional and/or finance-related law.

Responsibilities

• Drafts, negotiates, interprets, and reviews legal documents for private funds.
• Directs the formation of customized ERS investment vehicles and related documents.
• Advises on investment-related agreements and securities laws and regulations.
• Attends Investment Committee and ERS Board meetings and responds to information requests.

Skills

Securities law

Contract negotiation

Corporate law

Financial law

Education

Juris Doctor

Texas Bar

Job description

Our mission is simply stated: ERS offers competitive benefits to enhance the lives of its members. Each team member across the agency contributes to our ongoing success. ERS is open for business five days a week, 8:00 am to 5:00 pm, to meet customers where they need us: in person, on the phone, in their communities, and online. ERS currently offers opportunities that include flexible work schedules.

ERS is seeking an Investment Attorney to perform advanced to highly advanced and/or managerial (senior level) legal work and provides advice and counsel involving regular contact with the General Counsel, Executive Director, Chief Investment Officer, and various investment professionals and division directors of the Employees Retirement System of Texas (ERS). Leads negotiations with private fund managers, external investment advisors, with both the in-house and external counsel of broker-dealers, other public markets trading counterparties, research providers, third party administrators, actuaries, and other persons with whom the agency contracts. Work is performed under limited to minimal direction of the General Counsel with considerable to extensive latitude for the use of initiative and independent judgment.

Essential Responsibilities include, but are not limited to:

• With regard to investments in private funds:

1. Drafts, negotiates, interprets, and reviews legal documents, including limited partnership and limited liability company agreements for private equity, private real estate, private infrastructure, private credit, and hedge funds and related agreements (including subscription agreements and side letters).
2. Directs the formation and documentation of customized ERS investment vehicles, such as "funds of one" and other vehicles.
3. Performs other similar work related to new and existing private-fund investments

• Drafts, negotiates, interprets, reviews, and provides advice regarding investment-related agreements, including agreements pertaining to the agency's investment advisors and managers, custody services, securities lending, and other investment-related services; assists ERS investment staff in the development and drafting of requirements and specifications for investment-related projects; reviews and revises solicitation documents, contracts, and purchase orders for investment-related products and services.
• Advises ERS investment staff and executive management regarding state and federal securities laws and regulations, pending legislation, legal and market terms for alternative investments, policies and procedures related to ERS investments, procurement and contracts, ethics, and other legal and regulatory issues.
• Conducts research and provides advice regarding general legal questions presented to the Office of the General Counsel on a variety of topics.
• Participates in internal investment committee meetings and attends Investment Advisory Committee and ERS Board of Trustees meetings as needed.
• Assists in reviewing and responding to and providing advice regarding public requests for investment-related information.
• Attends work regularly in accordance with agency leave and attendance policies.
• Complies with all applicable agency policies and procedures, including policies and procedures related to safety and standards of conduct.
• Performs other duties as assigned.

A General Counsel IV or V, will perform the above duties in a highly advanced (senior-level) manner. Greater skill and responsibilities with higher performance standards will be expected. General Counsel V will be expected to oversee specified responsibilities with minimal supervision.

Required Minimum Qualifications: Your application for employment must reflect how you meet each of the following minimum qualifications:

1. Graduation from an accredited law school with a Juris Doctor (J.D.) degree, licensure to practice law, and either active membership in good standing with the State Bar of Texas or the ability to obtain Texas licensure as soon as practicable.
2. Three (3) to five (5) years of experience (depending on classification level) in the practice of law, including experience in securities, corporate, general transactional and/or finance-related law and drafting, interpreting, reviewing, and/or negotiating complex contracts and other legal documents.

Preferred Qualifications: Your application for employment should reflect how you meet the following preferred qualifications:

1. Experience drafting, negotiating, and reviewing complex contracts and related documents in connection with private equity, private real estate, and/or hedge fund investments with minimal oversight or supervision.
2. Experience researching complicated legal issues and drafting memoranda and opinions analyzing and explaining them.

PLEASE NOTE:All submissions should contain complete job history entries, which includes job title, dates of employment, name of employer, and a description of duties performed as related to the position you are applying for. Resumes lacking sufficient detail, such as a summary of experience in lieu of progression of work history may not meet minimum qualifications.

Other Information: In accordance with state law, authorization for telework may not be awarded to an employee as a condition of hiring. As an agency process, new employees complete a 30 day fully onsite period before evaluation for a telework agreement. This position may require access to privileged, confidential, or sensitive data. ERS will conduct either a TXDPS or FBI criminal history check on all new hires. For more information about this policy inquiries can be made to [e-mail]. Please note: Internal applicants in the same salary group and classification as the posted position are eligible to receive an increase in salary where applicable up to the posted maximum.

ERS does not sponsor or assume sponsorship of an employment visa at any time.

Military Occupational Specialty Codes:

Veterans, Reservists or Guardsmen with experience in the Military Occupational Specialty (https://hr.sao.texas.gov/Compensation/MilitaryCrosswalk/MOSC_Legal.pdf) along with the minimum qualifications listed above may meet the minimum requirements and are highly encouraged to apply. Please contact Human Resources at [e-mail] with questions or for additional information.

Please contact a Human Resources representative if you need assistance or require accommodation during the application process.

Email: [e-mail]

Web: www.ers.texas.gov

Relay Texas TDD: [phone]

LinkedIn: https://www.linkedin.com/company/employees-retirement-system-of-texas/