Wealth Management Investment Products Attorney, VP

NACBA; Purchase (NY); On-site; USD 110,000 - 190,000; Full time

Job summary

A leading financial services firm is seeking a Vice President for its Wealth Management Legal and Compliance Division in Purchase, NY. The role involves significant responsibilities for legal coverage of various investment products, including drafting agreements, advising on new initiatives, and coordinating with business units. Candidates must hold a J.D. and have a minimum of four years of experience, preferably in the financial services sector.

Qualifications

• Minimum four years of relevant experience at a top law firm or in-house, preferably in financial services.
• Experience with retail investment products and relevant regulations.

Responsibilities

• Drafting and negotiating distribution agreements for investment products.
• Reviewing marketing materials and advising business partners.
• Analyzing statutes and regulations applicable to products.

Skills

Judgment

Analytical skills

Oral communication

Written communication

Contract drafting

Negotiation

Interpersonal skills

Management skills

Organizational skills

Time management

Education

J.D.

Job description

Background on the Position:

Morgan Stanley Wealth Management's Legal and Compliance Division is seeking to hire a Vice President to join a team providing legal coverage for Wealth Management's retail products and services. Specifically, the attorney would focus on a wide range of investment products, including annuities, insurance, mutual funds, exchange-traded funds, money market funds, closed-end funds, interval funds, and unit investment trusts. The position is based in Purchase, NY or midtown New York City.

The attorney will have significant interaction with the business units responsible for these products. The applicant will be a member of a broader group of advisory attorneys covering Wealth Management's products and services, and the role will involve coordination with attorneys covering Morgan Stanley Wealth Management's other businesses.

In particular, the position will involve analyzing, reviewing, negotiating, structuring, and approving matters relating to the offering and distribution of such products. Additionally, the attorney will advise on various business initiatives, both independently and in coordination with other team members, including colleagues in Compliance and Risk, along with counterparties at external financial services firms and outside counsel.

Primary Responsibilities:

The following is an illustrative, non-exhaustive list of the types of responsibilities that the successful candidate will be actively involved in:

> The distribution of fund offerings, including drafting and negotiating distribution and related agreements.

> Drafting client disclosure regarding how investment products work and other considerations for clients investing in investment products.

> Advising the proprietary unit investment trust complex with respect to the creation of new trusts, including the drafting of new prospectuses and other SEC filings.

> Reviewing marketing materials and investor presentations.

> Advising business partners on, and then negotiating and drafting, economic arrangements relating to investment products.

> Reviewing and interpreting relevant statutes, rules, and regulations applicable to Wealth Management's products and services.

Wealth Management Overview:

Morgan Stanley Wealth Management is one of the largest retail broker-dealers and serves the needs of individuals and small and mid-sized institutional clients through a network of over 16,000 financial advisors located throughout the US. The Attorney will be part of an Investment Advisory legal team currently consisting of five attorneys and will be a member of a broader group of attorneys servicing Morgan Stanley Wealth Management's products and services. The team serves as legal advisors to Morgan Stanley's investment advisory business, which is one of the largest investment advisors in the world with more than $1.8 trillion under management. Recent growth of Wealth Management's investment advisory business has been very strong. The advisory legal team works hand-in-hand with the Wealth Management business on a daily basis.

LCD Overview:

Professionals within Legal and Compliance (LCD) provide a wide range of services to our business units. They might help to structure a complex and sensitive cross-border transaction; advise on a new product introduction; develop a training program or defuse an investor dispute. They preserve the firm's invaluable reputation for integrity and protect the firm from sanctions with policies and procedures that meet regulatory requirements around the world. They also strive to maintain cooperative relationships with governmental policy makers and the regulatory and self-regulatory agencies that govern the firm's businesses.
Experience/Qualifications:

> J.D. required.

> Member in good standing of a state bar.

> A minimum of four (4) years of relevant experience at a top-quality law firm and/or in-house, preferably with a financial services firm (including a broker-dealer, bank, investment advisory firm, or insurance company).

> Experience with a wide variety of retail investment products.

> Experience reviewing and interpreting statutes, rules, and regulations, such as the Investment Company Act of 1940, Investment Advisers Act of 1940, Securities Exchange Act of 1934, and Securities Act of 1933, rules of the Financial Industry Regulatory Authority (FINRA), and a variety of state laws governing standards of conduct and sales practices.

> Expertise in applicable rules and regulations relating to annuities and insurance products.

> Experience with broker-dealer/FINRA matters.

Skills desired:

> Professional maturity, confidence, presence, independence, drive, and initiative

> Excellent judgment and analytical skills

> Excellent oral and written communication skills

> Excellent contract drafting and negotiation skills

> Strong interpersonal skills

> Strong management and administrative skills

> Excellent organizational and time management skills

> Teamwork and ability to multi-task in fast paced environment

> Ability to evaluate and prioritize among multiple tasks

> Ability to work independently when needed and collaborate with cross-functional groups

Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.

It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.

Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).

Expected base pay rates for the role will be between $110,000.00 and $190,000.00 at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.