Senior Legal Counsel – U.S. Registered Funds and ETFs

T. Rowe Price • Owings Mills, MD

13d • Hybrid

About The Position

T. Rowe Price is seeking an experienced attorney to provide legal and strategic support for its U.S. registered investment products, with a significant focus on ETFs and related product initiatives. The role advises business partners, investment professionals, and product teams on legal and regulatory matters affecting ETFs and registered funds, including product development, launches and modifications, fund governance, regulatory matters, and disclosure obligations.

The Senior Legal Counsel serves as a trusted advisor, applying knowledge of the firm’s businesses, products, and regulatory environment to develop practical legal solutions and advance legal positions. The role partners with Product, Investments, Distribution, Capital Markets, Trading, Operations, Compliance, Risk, Legal colleagues, and outside counsel. It handles complex legal matters while balancing business objectives with legal, regulatory, reputational, and operational risks, and provides guidance to less experienced legal colleagues as appropriate.

Requirements

• Juris Doctor (J.D.) from an accredited law school.
• Admission to the Maryland Bar or another U.S. state bar.
• At least 8 years of legal experience advising registered investment companies, asset managers, or financial services organizations.
• Experience supporting registered investment companies, including ETFs or related investment products.
• Strong knowledge of the Investment Company Act of 1940 and related federal securities laws.
• Ability to analyze complex legal and regulatory issues and provide practical, business-focused legal advice.
• Strong communication and relationship-management skills, including the ability to work effectively across business and functional teams.

Nice To Haves

• Experience supporting ETFs, including ETF launches, product modifications, mutual fund-to-ETF conversions, or other product development initiatives.
• Experience advising registered investment companies and preparing registration statements, prospectuses, shareholder disclosures, and related SEC filings.
• Experience preparing materials for registered fund boards and board committees and advising them.
• Knowledge of ETF market structure, authorized participant arrangements, exchange listing requirements, and creation and redemption processes.
• Experience collaborating with business teams, including Investments, Product, Distribution, Capital Markets, Trading, Operations, Compliance, and Risk.
• Prior experience at a law firm, ETF sponsor, asset manager, or financial institution supporting ETFs and registered funds.
• Experience managing complex legal matters and coordinating effectively with outside counsel.
• Strong project-management and organizational skills, including the ability to manage multiple priorities in a fast-paced environment.

Responsibilities

• Provide legal counsel on the formation, registration, launch, governance, and ongoing maintenance of registered investment products, with a focus on ETFs.
• Advise business partners on ETF-related matters, including product development initiatives, product changes, and regulatory considerations.
• Advise on the Investment Company Act of 1940, Securities Act of 1933, Securities Exchange Act of 1934, SEC rules and guidance, exchange requirements, and industry developments.
• Support ETF-specific matters, including exchange listing requirements, authorized participant arrangements, creation and redemption processes, and related operational considerations.
• Partner with Product, Investments, Capital Markets, Trading, Distribution, Operations, Compliance, and Risk teams on matters affecting the ETF and registered fund platform.
• Monitor and analyze regulatory developments and industry trends affecting ETFs and registered funds, and advise stakeholders about their potential impact.
• Assist with preparing, reviewing, and maintaining registration statements, prospectuses, statements of additional information, shareholder communications, board materials, and other regulatory filings and disclosures.
• Collaborate with internal stakeholders and outside counsel to address legal, regulatory, and operational issues related to ETFs and registered funds.
• Handle a portfolio of complex legal matters, balancing business objectives with legal, regulatory, reputational, and operational risks.
• Conduct legal analysis and research regarding business and regulatory matters and provide practical recommendations to stakeholders.
• Coordinate with and help manage outside counsel on assigned matters.
• Provide guidance and support to less experienced legal department colleagues as appropriate.

Benefits

• Competitive compensation
• Annual bonus eligibility
• Generous retirement plan
• Hybrid work schedule
• Health and wellness benefits, including online therapy
• Paid time off for vacation, illness, medical appointments, and volunteering days
• Family care resources, including fertility and adoption benefits

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Ph.D. or professional degree