Managing Legal Counsel – ETFs

Requisition Number: 74606

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About this Position

We are hiring a Managing Legal Counsel to support T. Rowe Price’s growing exchange-traded fund (ETF) business. The position will be a member of the 1940 Act Regulatory Oversight team in Owings Mills, MD.

As Managing Legal Counsel, you will work collaboratively to solve complex issues and legal questions posed by business units and investment staff with respect to matters related to T. Rowe Price’s ETFs.  This will include providing advice on the impact of new and proposed regulations as well as the development of new ETFs and related services and initiatives. This will also include working with the Product and Distribution teams to work on strategic global initiatives related to the ETF business. The Managing Legal Counsel will work on necessary filings and governance actions as well as communications with the Securities Exchange Commission.  You will also respond to internal and client questions regarding ETF applicable regulations and disclosure requirements.  The Managing Legal Counsel will also be responsible for preparing and presenting various matters to the Price Fund Board of Directors.

The candidate best suited for this role will have an in-depth understanding of ETFs, including trading, investments, exchange practices, distribution and industry best practices. The applicant should also understand ETF service providers as well as applicable regulations, including the Investment Company Act of 1940 and Investment Advisers Act of 1940. The candidate should have extensive background working on matters and responding to inquiries from senior leaders and investment staff relating to legal questions regarding ETFs and have experience presenting to ETF boards of directors.  This role requires deep, comprehensive expertise in all aspects of Exchange-Traded Funds (ETFs), including their structure, regulation, distribution, and ongoing operational requirements. The ideal candidate will possess a proven track record of advising on complex ETF matters in a major law firm, financial institution, or asset management setting.

Role Summary

Provides expert legal counsel supporting T. Rowe Price’s 1940 Act products and business areas. Viewed as a trusted internal resource capable of using significant experience and knowledge of T. Rowe's businesses and products to articulate and advance legal positions. Partners with business, Legal, and compliance colleagues to influence decisions related to the business unit’s support of ETFs. Provides advice on proposed, new and existing rules and regulations affecting the ETFs, with a primary focus on the Investment Company Act of 1940 and the Investment Advisers Act of 1940.  Presents to the ETF Board of Directors.

Responsibilities

• Provide expert legal counsel on the formation, registration, and ongoing management of ETFs.
• Advise on SEC regulations, compliance, and disclosure requirements specific to ETFs.
• Provide legal support for product development, distribution strategies, and ETF-related transactions.
• Serve as one of the primary legal contacts for all ETF regulatory matters, including interaction with regulatory agencies.
• Monitor and interpret evolving ETF regulations and industry trends, ensuring proactive adjustments to legal strategy.
• Collaborate with internal stakeholders and external counsel to address sophisticated legal issues related to ETFs.
• Lead and/or support special projects, such as new rule implementation and business initiatives, on a cross-functional basis.

Qualifications

Required:

• Juris Doctor (JD) degree and membership in good standing with a state bar.
• Minimum of 10 years of direct, hands-on experience as a lawyer specializing in ETFs.
• In-depth knowledge of ETF product structures, regulatory frameworks, and operational complexities.
• Demonstrated experience advising on all aspects of ETF formation, management, compliance, and distribution.
• Exceptional communication and leadership skills; ability to collaborate effectively across business units.

Preferred:

• Experience interacting with business teams, such as Investments, Distribution, Operations and Trading groups as well as other attorneys and compliance team
• Prior experience at a leading law firm, financial institution, or asset manager with a focus on ETFs is strongly preferred.
• Ability and intent to (1) create value for clients; (2) think and act strategically; (3) champion integrity; (4) drive results and accountability; and (5) communicate effectively

FINRA Requirements

FINRA licenses are not required and will not be supported for this role.

Work Flexibility

This role is eligible for hybrid work, with up to one day per week from home.

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Community / Marketing Title: Managing Legal Counsel – ETFs

Company Profile:

Location_formattedLocationLong: Maryland, US

CountryEEOText_Description: Commitment to Diversity, Equity, and Inclusion: We strive for equity, equality, and opportunity for all associates. When we embrace the power of diversity and create an environment where people can bring their authentic and best selves to work, our firm is stronger, and we create greater value for our clients. Our commitment and inclusive programming aim to lift the experience for each associate and builds allies for our global associate community. We know that a sense of belonging is key not only to your success at the firm, but also to your ability to bring your best each day. Benefits: We invest in our people through a wide range of programs and benefits, including: • Competitive pay and bonuses as well as a generous retirement plan and employee stock purchase plan with matching contributions • Flexible and remote work opportunities • Health care benefits (medical, dental, vision) • Tuition assistance • Wellness programs (fitness reimbursement, Employee Assistance Program) Our policies may change as our working lives evolve. Yet, our commitment to supporting our associates’ well-being and addressing the needs of our clients, business, and communities is unwavering. T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.