Legal Fellow Associate

Federal Reserve Bank of Philadelphia•New York, NY

4d•Onsite

About The Position

The Legal Fellow Associate is a two-year assignment for a recent law school graduate, including someone completing a clerkship or legal fellowship. The fellow rotates through both divisions of the Federal Reserve Bank of New York’s Legal Function within the Legal and Compliance Group and performs responsibilities comparable to those of a new attorney. The work may span financial institution supervision and regulation, market and discount window operations, regulatory enforcement investigations, accounts and financial services, payments law and regulation, employment, transparency, contracts, and litigation. The fellow also gains exposure to compliance matters involving financial crimes, fraud, sensitive data, Markets Desk trading, ethics and conduct, third-party compliance, controls testing, and risk assessment. The Legal Function provides legal services supporting the Bank’s mission and operations. Its Supervision, Markets, and Financial Services division advises on financial institution supervision and regulation, Bank operations and services, external and sponsored committees, and legislative affairs. Its Enterprise Legal Services division handles matters including enforcement and litigation, financial investigations, employment and corporate matters, Freedom of Information support, technology, contracts, intellectual property, and data privacy and security. The role is full-time and onsite. The fellowship requires the candidate to begin work in the same calendar year as graduating from law school or completing a qualifying clerkship or legal fellowship. Applicants must submit a cover letter, resume, and most recent law school transcript; finalists complete a brief writing assignment. The position requires access to sensitive information and is limited to U.S. citizens and certain applicants eligible and intending to apply for U.S. citizenship before the first day of the program.

Requirements

Juris Doctor degree.
Admission to the New York State bar completed or pending before the fellowship begins.
Must be able to begin work in the same calendar year as law school graduation or completion of a clerkship or legal fellowship that began immediately following law school graduation.
Research and writing skills.
Strong academic record.
Commitment to public sector employment.
Must meet the stated U.S. citizenship or citizenship-eligibility and application requirements because the position requires access to sensitive information.

Responsibilities

Take ownership of and work on a variety of assigned legal matters.
Research and analyze legal, factual, operational, and policy issues.
Draft contracts, legal memoranda, briefs, client emails, and other documentation.
Create and implement processes to help ensure compliance with law and mitigate legal risk.
Prepare and deliver presentations on timely legal issues.
Advise and build relationships with internal stakeholders.
Develop and maintain relevant technical and practical skills and share knowledge within the Legal Function.
Contribute to all aspects of the Legal and Compliance Group’s work as requested.
Perform compliance work, including due diligence, assisting with policy updates, and ethics and conduct reviews.