Investment Counsel

Teacher Retirement System of Texas (TRS)•Austin, TX

4d•Onsite

About The Position

Service, Respect, and Connection are core to the individual and collective TRS experience. We know that great service rests on a foundation of relationships that connect us all to an empowering and rewarding career. At TRS, we’re inspired by our community who bring authenticity and commitment to our mission to improve the retirement security of public education employees and retirees throughout Texas. As a group of achievers, we tap collaboration and innovation to raise the bar in performance, administering and counseling pensions and healthcare benefits to ensure certainty for the future of our members. We invite you to join us, where both personal and career growth are respected and where you can make a difference in our members’ lives every day. Few careers allow you to challenge yourself professionally while you give back to meaningful individuals who are dedicated to educating the youth of Texas. Teacher Retirement System of Texas (TRS) manages retirement and healthcare plans for over 2 million public education professionals and we are growing. That growth means expanding talented teams who are dedicated to keeping the Trust financially healthy for a long time to come. The Investment Counsel is responsible for providing complex counsel and related services regarding investment transactions and related matters, preparing and negotiating investment transaction documents; providing general legal counsel and representation to executive management; and providing research and other legal support. This position will proactively work with the Investment Management Division, the TRS legal team, Executive staff, members of TRS executive and leadership teams, and external stakeholders. This position reports to the Director, L&C Investment.

Requirements

Juris Doctor (J.D.) degree from an accredited law school.
Four (4) years of full-time directly related, progressively responsible experience as a transactional attorney or related experience.
Two (2) years of full-time directly related, progressively responsible experience in at least one of the following areas: transactional work in private equity, real estate, or energy and infrastructure transactions, derivatives contracts, or mergers and acquisitions.
Experience may be concurrent.
Licensed to practice law in the State of Texas and a member in good standing of the State Bar of Texas; or hold a valid, active law license issued by another state and be eligible for Texas licensure under Board of Law Examiners Rule XIII: Attorneys from Other Jurisdictions (candidate must obtain Texas license within eight months of hire date).

Nice To Haves

Two (2) years of experience providing legal services for transactional matters such as corporate, derivatives or private fund transactions.
Experience effectively and succinctly communicating with a high-level audience, such as a governing Board or executive management.
Experience overseeing and managing outside counsel.

Responsibilities

Provides legal advice to and represents the agency regarding:
Negotiation of investment management agreements with external managers and related matters;
Investments in hedge funds, private equity funds, real asset funds, energy and natural resources funds, related co-investment or principal investment funds, and derivatives transactions;
Investment operations, non-disclosure agreements, foreign investment documentation, investment policies, litigation analysis, and other duties as assigned; and
The application of fiduciary duties to investment matters, policies, procedures, and operations.
Participates in the selection and oversight of outside investment counsel, including coordinating workflow, evaluating work product, reviewing invoices, and negotiating fee reductions.
Prepares, reviews, and negotiates research and other investment-related arrangements including those involving commission credits or custody of pension assets, and advises investment staff and agency management about such arrangements.
Prepares or reviews requests for proposal or qualifications, and drafts and negotiates contracts with vendors (e.g., custody agreements), investment consultants, external discretionary investment managers, outside legal counsel, clearinghouses, and prime brokers.
Reviews offering memoranda, subscription documents, and proposed contracts relating to private investments; provides legal advice and services, including drafting and negotiating transaction documents, as assigned; and supervises execution of documents according to agency policies and procedures.
Prepares memoranda, contracts, policies, guidelines, procedures, letters, bills, or analysis for legislative consideration, or other materials as assigned.
Attends as needed meetings of the agency Board of Trustees, Board Committees, and internal investment committees; and assists with preparation of meeting materials, such as proposed resolutions, meeting minutes, and related materials.
Assists senior attorneys and management in meetings and negotiations with other attorneys and external parties, including executive and legislative branches of Texas state government, auditors, investment consultants, and vendors.
Provides advice and assistance regarding all applicable existing or proposed federal, state, and agency laws, rules, and policies.
Conducts legal research and analysis with respect to assigned or referred matters.
Assists with preparing audit inquiry responses on behalf of the agency, as assigned.
Coordinates and reviews the related work of legal assistants, specialists, and support staff with regard to specific areas of responsibility.
Participates in special projects, as assigned (e.g., foreign office matters).
Performs related work as assigned.