Regulatory and Product Counsel
Wealthfront is seeking a talented, passionate, and experienced attorney to join our legal team to (i) handle a wide variety of broker-dealer, investment advisor and banking, legal, and regulatory matters and (ii) provide legal support for various fixed income and other financial products offered to our retail customers. As a member of our legal team, this person will work closely with and report to our General Counsel, and just as importantly, will work closely with other departments, including product, design, engineering, marketing, and compliance to provide the best client experience possible.
Responsibilities
- Creatively configure compliant solutions and provide advice for sound business decisions in view of relevant legal and compliance requirements and risks.
- Analyze and provide guidance on evolving laws, rules, regulations, and trends impacting the broker-dealer and, to a lesser degree, investment management and financial advisory industries.
- Stay abreast of relevant federal and state banking laws including, but not limited to, the Bank Secrecy Act (BSA), Federal Reserve Act, Dodd-Frank Act and Glass-Steagall Act.
- Analyze, provide guidance on and ensure compliance with the Federal Deposit Insurance Act and relevant FDIC regulations and guidelines, including those related to deposit insurance coverage.
- Oversee and provide advice on legal and regulatory aspects of money movement activities, including wire transfers, ACH transactions, RTP transfers and other payment systems.
- Collaborate cross-functionally with other teams to develop and implement efficient and compliant money movement processes including compliance with the Electronic Fund Transfer Act and Regulation E.
- Provide legal support for various fixed income products offered to retail customers including to ensure compliance with applicable securities laws.
- Assist with the development of new lines of business and financial advisory products by: (1) embedding yourself in the project development team upon project launch (2) working closely and proactively with other team members to identify potential legal and regulatory issues (3) crafting compliant solutions that avoid or minimize inefficient use of product and design and engineering resources and speed product launches and (4) drafting related agreements, policies, procedures and disclosures.
- Assist in managing interactions with the SEC, FINRA and other regulatory authorities.
- Interface with outside counsel.
- Other duties as assigned by the General Counsel.
Qualifications
- J.D. degree and licensed to practice in one or more states.
- Minimum 4 to 6 years of relevant legal experience with a focus on bank regulatory matters, FDIC compliance, money movement and fixed income products; in-house or start-up experience preferred; fintech strongly preferred.
- Familiarity and experience working with FINRA, regulated entities and consumer-facing businesses.
- Self-motivated and efficient, with good business judgment and a “take ownership” outlook.
- Creative, with the confidence to present and advocate for the implementation of ideas.
- Able to participate in developing company-wide strategic and operational goals, and work closely with business units in their operational execution.
- Able to identify and analyze legal issues, draft key documents, and present clear recommendations.
- Strong project management skills.
Estimated annual salary range: $180,000 - $200,000 USD plus equity and a discretionary bonus.
Benefits include medical, vision, dental, 401K plan, generous time off, parental leave, wellness reimbursements, professional development, employee investing discount, and more!
Everyone across the financial spectrum deserves to live secure and rewarding lives. In order to successfully serve clients across the United States, the Wealthfront team is focused on hiring team members with a diverse range of backgrounds, experiences and perspectives. We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
About Wealthfront
Wealthfront started with the ambition to transform the investment advisory business, with the goal to unlock access to high quality investment advice for millions who were underserved by the traditional institutions. We built the first automated investment product that allows you to invest in a personalized portfolio of thousands of companies in seconds for a remarkably low fee; we then expanded into banking which made it remarkably easy for people to automate their finances end-to-end and eliminated the hassle of money management, all of which resulted in attracting more than $50 billion of our client’s hard earned savings, created the robo-advisor category and transformed the broader industry. And yet, we have a long way to go to achieve our mission to build a financial system that favors people, not institutions.
Wealthfront’s vision is to make it delightfully easy to build long-term wealth on your own terms. This vision is more relevant than ever because millions more people are getting into the market early and investing their hard earned savings in a handful of stocks. While this is a great way to start, it is inconsistent with building long-term wealth. We want to empower young investors to expand their horizon, and easily explore and execute on a wider range of investing strategies, make informed investment decisions that are consistent with their values and beliefs while also making it effortless to grow and compound their savings exponentially, that’s transformational to their lives and their long-term future.
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