Senior Counsel--Investment Advisor

PNC•Washington, DC

2d•$100,000 - $291,850•Onsite

About The Position

PNC's Corporate Governance Department is seeking an attorney to assist in supporting bank affiliated registered investment advisory businesses, including advisers or sub-advisers to private funds and private credit strategies. This position will focus, in part, on matters arising under the Investment Advisers Act of 1940 and, as applicable, the Investment Company Act of 1940. It would be beneficial for the candidate to have some experience advising registered investment advisers, private funds, asset managers, financial institutions, or other investment management businesses. Familiarity with SEC regulation of broker-dealers and FINRA rules is desirable. The attorney will work closely with senior business leaders, compliance and risk partners, and PNC's government and regulatory affairs teams.

Requirements

J.D. (or equivalent) from an accredited law school.
Admission in good standing to practice law in at least one U.S. jurisdiction.
Three to eight years of legal experience in a law firm, financial institution, registered investment adviser, asset manager, investment company, or regulatory agency.
Excellent drafting, analytical, and client counseling skills.
Ability to manage complex legal and regulatory matters while balancing business objectives and risk considerations.
Successful candidates must demonstrate appropriate knowledge, skills, and abilities for a role.
Active State License - Multiple Issuers

Nice To Haves

Experience of the Investment Advisers Act of 1940, and its application to registered investment advisers, private funds, and sub-advisory arrangements, is preferred.
Experience advising private funds and registered investment is strongly preferred.
Familiarity with SEC regulatory processes, examinations, and compliance programs is desirable.
Knowledge of broker-dealer regulation, FINRA requirements, banking regulation, or affiliated institutional asset management businesses is a plus.
Legal Compliance
Legal Consulting
Legal Practices
Legal Risk
Regulatory Compliance
Risk Assessments
Business Ethics
Decision Making and Critical Thinking
Effective Communications
Establishing and Maintaining Trust
External Resource Management
Influencing Through Expertise
Legal Analysis
Legal Function
Negotiating
Problem Solving

Responsibilities

Serve as legal advisor to one or more registered investment advisers that advise private credit funds, and other investment vehicles, including certain funds registered under the Investment Company Act of 1940.
Provide legal support on matters arising under the Investment Advisers Act of 1940, including governance, fiduciary obligations, disclosures, conflicts of interest, regulatory filings, SEC examinations, and ongoing compliance matters.
Assist in advising on Investment Company Act matters affecting private credit and other investment fund structures, including regulatory status, exemptions, governance and compliance matters, and interactions with fund counsel.
Assist in the structuring, launch, operation, and ongoing management of private investment funds and related advisory businesses.
Draft, review, and update advisory agreements, sub-advisory agreements, engagement letters, offering materials, policies and procedures, and regulatory filings, including Form ADV and related disclosures.
Partner closely with compliance, risk management, and business leadership to develop and maintain policies, procedures, and practices designed to ensure compliance with applicable legal and regulatory requirements.
Represent PNC in interactions with regulators, external counsel, counterparties, investors, and other stakeholders.
Advise on strategic initiatives involving private funds, separately managed accounts, and other investment products.
Exercise sound judgment and manage legal matters independently while collaborating effectively with business, compliance, risk, and senior management teams.
Assist in supporting PNC's capital markets advisory businesses and exempt reporting advisers, including advising on applicable Advisers Act obligations.
Performs significant and complex legal work while regularly interacting with management.
Oversees legal research, analysis, consultation, and documentation within a framework of legal compliance and risk management.
Responsible for managing the expense for outside counsel relationships, provides strategic direction on when to leverage outside counsel.
Works with outside counsel combining their advice with analysis and feedback from internal stakeholders to provide practical guidance.
Networks with outside organizations to advance legal interests and legal health of the corporation and its industry.

Benefits

medical/prescription drug coverage (with a Health Savings Account feature)
dental and vision options
employee and spouse/child life insurance
short and long-term disability protection
401(k) with PNC match
pension and stock purchase plans
dependent care reimbursement account
back-up child/elder care
adoption, surrogacy, and doula reimbursement
educational assistance, including select programs fully paid
a robust wellness program with financial incentives
maternity and/or parental leave
up to 11 paid holidays each year
9 occasional absence days each year, unless otherwise required by law
between 15 to 25 vacation days each year, depending on career level; and years of service