Morgan Stanley Wealth Management (WM) Legal and Compliance Division is seeking to hire an experienced lawyer to provide legal coverage for products within the WM Investment Solutions business unit. Specifically, the lawyer will focus on legal issues involving the retail sale and distribution to WM clients of registered investment products (e.g., mutual funds, money market funds and offshore funds, exchange-traded funds, closed-end funds, and unit investment trusts) as well as annuities and insurance. The position will be located in either the firm’s midtown Manhattan or Purchase, New York office.
Morgan Stanley Wealth Management operates one of the largest retail broker-dealers and serves the needs of individuals and small and mid-sized institutional clients through a network of approximately 16,000 financial advisors located in branch offices throughout the United States.
The lawyer will be part of a team of lawyers who support the Investment Solutions business which includes traditional registered investment products (e.g., mutual funds, ETFs, unit investment trusts, closed end funds, 529 plans) as well as insurance and annuities products. The lawyer will have significant interaction with Investment Solutions business personnel, and will work closely with the other lawyers on the legal coverage team. The lawyer will be a member of a broader group of advisory lawyers servicing the sale and distribution of Morgan Stanley Wealth Management’s products and services, and the role will involve coordination with lawyers covering Morgan Stanley’s Institutional Securities Group, Morgan Stanley’s Investment Management Group and Compliance and Risk coverage for these affiliated businesses and the WM business.
Candidates will be expected to provide broad-ranging legal support for these investment products, including preparation and negotiation of distribution, service and revenue-related agreements, related public and client disclosures, development of policies and procedures related to sales practice controls for the above products, support for new fund/product approval and coordinating and responding to regulatory inquiries and examinations. In addition, the lawyer will be involved in various regulatory initiatives, examinations and business/strategic projects, both independently and in coordination with other team members as necessary. The lawyer will also work with Compliance, Risk, Operations and IT personnel to both support the businesses and to address business enhancement needs and regulatory changes, and identify legal and other risks.
A minimum of five (5) years relevant experience with a top quality major law firm and/or similar in-house experience with a financial services firm, including a broker-dealer, insurance company, or investment management firm. The candidate should have experience with U.S. securities and other laws, including the Investment Advisers Act of 1940, the Investment Company Act of 1940, the Securities Act of 1933, the Securities Exchange Act of 1934, and FINRA Rules as they relate to registered investment products, as well as familiarity with state insurance regulations applicable to insurance and annuities.
Candidates with broker-dealer distribution experience are preferred; however, candidates with an investment management or insurance company background will be strongly considered. Experience working with regulators or on regulatory examinations is a plus.
Candidates should have experience in managing multiple projects and deadlines and must be able to work both in group settings and independently.
Essential Skills and Qualities
The lawyer should possess the following skills and qualities:
• Professional maturity, confidence, presence and initiative
• Excellent judgment and analytical skills
• Excellent oral and written communication skills
• Strong interpersonal skills
• Strong management and administrative skills
• Team work and ability to multi-task in fast paced environment
The position is expected to be at the Vice President level.