Career Story: Legal Counsel And Compliance Advisor To Asset Management Firms

Legal Counsel And Compliance Advisor To Asset Management Firms

Job Title: Regulatory Counsel

Type of Company: I work as a lawyer in the legal and regulatory group of a holding company of asset management firms. I provide legal and compliance advice to roughly 26 affiliated companies. My company assists each manager with day-to-day back office operations and succession planning so they can focus on managing money.

Education: BS, Finance and Marketing, Boston College •• JD, Tulane University School of Law

Previous Experience: I worked as a fund accountant for a year , a compliance analyst at Scudder Stevens and Clark for four years and an associate at a large law firm for seven. In the four years after that I served as director of compliance at a couple of investment management firms.

Job Tasks: I provide general legal and compliance advice to management at various asset management firms. I help them draft policies and procedures, analyze legal issues and create new products.

I typically negotiate investment management agreements, work on new fund documents and help the compliance people advance new policies and procedures. Every day is different, it just depends on what's going on at a given firm.

I also monitor what's going on from a legal and regulatory perspective in the investment management industry and write news letter-type postings so that we can keep each management company informed. For example, after the Bernie Madoff scandal, Congress and the SEC began looking at ways to change the regulation of investment advisers. I monitor these developments and brief our management companies on what's coming up so that they can make sure that their policies, procedures and business practices are in line with the changes in rules. Where necessary, I help them draft new procedures and train staff so they remain in compliance.

Best and Worst Parts of the Job: The best part of the job is that I deal with a number of different legal and regulatory matters every day and every day is different. I get to help companies get things done. I'm viewed as a partner, collaborator and problem solver.

The worst part of my job is the commute; it's forty minutes each way. But I love what I do!

Job Tips: Make sure that you get both legal and financial experience. Working for a mutual fund complex is very helpful. Practical advice only comes from people who have done something other than working for a big law firm. Its one thing to know what the law requires, its another, more valuable thing to be able to understand the challenges of adapting business practice to a law. Keep in mind that the business objectives should drive the decision. The legal analysis is only one element of the operational backdrop, it's not the driver.

Additional Thoughts: What surprises me the most is how much change is going on in the field. It's exciting and helps keep things interesting.

One thing that I missed out on was getting my MBA. Not that one's strictly necessary, but my company would have paid for it and it is useful to understanding the asset management business model and identifying growth opportunities. The job isn't just about being a lawyer, it's about helping the business navigate the opportunities from a legal and compliance perspective.

The key personal "qualities" for success in this career are a keen understanding and curiosity. You have to identify compliance failures and legal loopholes that present operational risks to the business an spotting them takes a sharp eye; curiosity and continued questioning help you to figure out ways that breaches can occur and allow you to implement stronger procedures and controls.

Popular Schools offering Law School Programs

quickinfoClick the Visit School Site buttons to go directly to a school's website and learn more about the school and programs it has to offer. School website will open in a new tab. .

Click the Request Info buttons to request more information from a representative at the school

Matching School Ads

Regent University prepares students with the knowledge to excel and the faith to live with purpose.

  • Programs: Master of Arts in Law - Non-Profit Management, Master of Arts in Law - National Security, J.D. Part-Time, more...
  • Degrees: Master, Doctorate

Experience an education that helps you realize your potential in a way that fits you best. Request more information about Post University today.

  • Programs: Certificate: Paralegal (Legal Studies), B.S. in Legal Studies, A.S. in Legal Studies
  • Degrees: Certificate, Bachelor, Associate

As a student at South University, Online Programs you will receive the same quality instruction, variety of learning options and level of service found at the campus locations.

  • Programs: Paralegal Studies (AS)
  • Degrees: Associate

100% Online & No Standardized Testing

  • Programs: Associate of Arts: Paralegal Studies, Bachelor of Science: Paralegal Studies, Master of Business Administration in American Legal Studies , more...
  • Degrees: Associate, Bachelor, Master

Start the next chapter of your life with an Associate or Bachelor degree from Miller-Motte College Online Division.

  • Programs: Paralegal - Associate of Applied Science
  • Degrees: Associate

Recognized by the U.S. News and World Report for: Best Online Programs, Bachelor’s 2017, Best Online Programs, Grad Education 2017 and Best Online Programs, Bachelor’s for Veterans 2017

  • Programs: Jurisprudence with concentration in Legal Studies (Bachelor of Science) - Online
  • Degrees: Bachelor
UEI College
Bakersfield, Chula Vista, Encino, Fresno, Gardena, Ontario, Riverside, San Marcos

At UEI College, we want you to succeed. We’re like a family and we want you to be a part of it.

  • Programs: Criminal Justice (11-Month Diploma Program)
  • Degrees: Diploma

Since 1977, Keiser University has provided quality student-centered, career-focused education.

  • Programs: Criminal Justice, MA (Online), Bachelor of Arts in Criminal Justice
  • Degrees: Master, Bachelor
Argosy University
Ontario, Orange, Phoenix, San Diego

Welcome to Argosy University

Argosy University offers doctoral, master's, and bachelor's degree programs to students through its eight colleges:  College of Behavioral Sciences, Graduate School of Business and Management, College of Education,  College of Health Sciences, College of Arts and Sciences, College of Creative Arts and Design, College of Clinical Psychology and Western State College of Law at Argosy University as well as certificate programs in many areas.

  • Programs: Criminal Justice (BS), Criminal Justice (BS) (Online)
  • Degrees: Bachelor

Founded by the Society of Jesus in 1851, Saint Joseph's University (SJU) has been developing the minds and abilities of men and women in a challenging academic environment steeped in the enriching Jesuit tradition of cura personalis (care of the entire person).

  • Programs: MS in Criminal Justice - Federal Law Enforcement Track
  • Degrees: Master
Matching School Ads

Additional Career Stories for Lawyers

The inside stories from people actually working in the field.
Click a story title to show the story, and click the title again to hide it.

All Types

You are visiting:

Find a school near you

What are Career Stories?

Career Stories are concise, real-world career overviews written by people relating their personal career experiences and wisdom. They provide invaluable insights and mentoring advice to students and career changers.

Most stories include:

  • a typical day or project
  • tips and advice
  • best and worst parts
  • educational background
  • previous experience

Browse hundreds of Career Stories

More Details On This Career

Please also see our detailed information about Lawyers, including:

Back to Top