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

T. Rowe Price • Owings Mills, MD

14d • $145,000 - $309,000 • Hybrid

About The Position

T. Rowe Price is seeking an experienced attorney to provide legal and strategic support to its U.S. registered funds platform, with a significant focus on ETFs and related product initiatives. The position advises business partners, investment professionals, and product teams on legal and regulatory matters affecting ETFs and registered investment products, including mutual funds, closed-end funds, and other registered investment vehicles. The role partners with Product, Investments, Distribution, Capital Markets, Trading, Operations, Compliance, Risk, and other stakeholders on product development, fund governance, regulatory matters, disclosure obligations, and business initiatives.

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. The position advises on existing and proposed laws and regulations affecting registered funds, including the Investment Company Act of 1940, the Investment Advisers Act of 1940, and related securities laws. Work includes supporting product launches and modifications, preparing filings and governance materials, analyzing regulatory developments, managing complex matters, and coordinating with outside counsel. The role also provides guidance to less experienced legal department colleagues as appropriate.

The role is eligible for hybrid work, with up to one day per week from home. Base salary ranges vary by location: $145,000–$247,000 for Maryland, Colorado, Washington, and remote workers; $159,000–$272,000 for Washington, D.C.; and $181,000–$309,000 for New York and California. Employees may be eligible for a discretionary bonus based on company and individual performance.

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 advising with respect to boards and board committees.
• 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 firm’s ETFs and registered fund platform.
• Monitor and analyze regulatory developments and industry trends affecting ETFs and registered funds, and advise stakeholders on potential impacts.
• 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 on legal, regulatory, and operational issues related to ETFs and registered funds.
• Handle a portfolio of complex legal matters while 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
• A 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