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About the Role

This position is responsible for directing and managing the complete life cycle of the adoption of new regulatory requirements. The incumbent provides expert knowledge to the Board of Governors and senior management, advising them on high-impact, legally and politically complex and sensitive regulatory initiatives and rule changes. This position is recognized by FINRA and the industry as the top/ primary expert in a particularly complex and unique subject matter area(s) pertaining to regulatory policy, rendering independent expert advice in these areas. The incumbent also would act under the supervision of the Senior Vice President and Director of Capital Markets as the primary coordinator of the policy and rulemaking functions within the Capital Markets Group of OGC, including overseeing preparation of board and committee materials, regulatory notices, rule filings, multiple NMS Plan participation, SEC outreach and economic impact assessments of rulemakings. The incumbent must have demonstrated ability to perform these functions with minimal or no supervision, as well as consistent demonstration of high-level independent judgment with the ability to take responsibility for the exercise of that judgment.

Responsibilities

Advise the Board of Governors and FINRA advisory committees with respect to high-impact, legally and politically complex and sensitive regulatory initiatives and rule changes under consideration by the Board.
Brief and communicate complex and sensitive regulatory initiatives to senior executives of FINRA, providing analysis under urgent deadlines.
Serve as the key source of legal expertise within FINRA in one or more subject areas and provide independent expert advice.
Represent FINRA before industry and self-regulatory organization/inter-market groups.
Prepare and oversee the preparation of Board materials that contain sophisticated analyses and discussions of competing policy or political considerations.
Draft and review the drafting of new rule proposals; gather and incorporate views of industry participants, other regulators, and senior staff; and prepare rule filings to the SEC.
Serve as the primary coordinator in conducting economic impact assessments of rulemakings in the capital markets area of OGC, working closely with the Office of the Chief Economist.
Prepare Regulatory Notices, rule guidance, and other correspondence with member firms and their outside counsel.
Conduct legal and other research into matters of regulatory policy to develop rule proposals, respond to comments, and address interpretive and exemptive requests.
Take a leadership role in identifying and presenting original, creative, innovative, and sophisticated solutions and proposals for changes to existing rules, including rules and guidance needed to address the constantly evolving nature of trading within the securities markets.
Provide expert-level legal counsel and assistance to projects and initiatives of other departments.
Serve as primary liaison to FINRA committees as assigned.
Lead and coordinate the efforts of other OGC legal staff in the completion of work projects.
Analyze SEC, industry and other self-regulatory organization initiatives, and develop and maintain cooperative working relationships with other regulators.
Be the recognized expert and attend and be a sought-out speaker at regulatory policy public conferences and meetings of FINRA committees on areas of subject matter expertise.
Manage public communication of FINRA proposals and legal interpretations to member firms, members of the bar, the media, and other interested parties.
Demonstrate FINRA’s values.
Collaborate, both in-person and virtually, in furtherance of FINRA’s mission of investor protection and market integrity.
Lead or participate in ad hoc special projects and initiatives as requested.
Train and mentor other OGC attorneys and assist in supervising and directing regulatory analysts, paralegals and administrative assistants in OGC.
Support enforcement of office procedures concerning regulatory proposals and legal interpretive positions; provide and implement suggestions to increase efficiency and effectiveness of procedures.

Requirements

A law degree and appropriately licensed to practice law in all applicable jurisdictions based on the relevant licensing requirements.
10+ years of relevant legal experience.
Highly developed expertise in a specialized area of knowledge that is both technically complex and central to the overall mission of the organization.
Expert knowledge of rules, regulations and guidelines governing the securities industry.
Excellent oral and written communication skills.
Excellent interpersonal skills.
Must have demonstrated ability to perform functions with minimal or no supervision.
Consistent demonstration of high-level independent judgment with the ability to take responsibility for that judgment.
Employees must execute FINRA’s Employee Confidentiality and Invention Assignment Agreement without qualification or modification.
Employees must comply with the company’s policy on nepotism.
Employees must disclose to FINRA all brokerage accounts that they maintain, and those in which they control trading or have a financial interest.
Employees must authorize their broker-dealers to provide FINRA with duplicate statements for all disclosed accounts.
Employees must comply with the Code’s investment and securities account restrictions.
New employees must comply with investment restrictions—including disposing of any security issued by a company on FINRA’s Prohibited Company List or obtaining a written waiver from their Executive Vice President—by the date they begin employment with FINRA.
Employees may only maintain securities accounts that must be disclosed to FINRA at one or more securities firms that provide an electronic feed (e-feed) of data to FINRA.
Employees must move securities accounts from other securities firms to a firm that provides an e-feed within three months of beginning employment.

Skills

Expert knowledge of regulatory policy
Independent expert advice
Policy and rulemaking functions
Legal expertise in trading practices, market integrity and market structure in equities, options and fixed income
Expertise in order handling requirements, trade reporting and other transparency initiatives
Expertise in SEC mandates including Consolidated Audit Trail, Regulation SCI, Regulation NMS, Regulation SHO, SEC Rule 15c3- 5 and SEC Rule 15c2-11
Expertise in FINRA’s quoting and trade reporting mechanisms, including TRACE, the Alternative Display Facility (ADF) and Trade Reporting Facilities (TRFs)
Expertise in FINRA trading-related fees, including TAF and Section 31/Section 3
Sophisticated analyses
Rule drafting and review
Economic impact assessments
Regulatory Notice preparation
Legal and regulatory policy research
Creative and innovative solutions
Legal counsel and assistance
Public speaking
Communication skills
Interpersonal skills

Location

CO
FL
TX
IL
PA
MA
MD
VA
Washington, DC
NY
NJ

Work Type

Hybrid
Occasional travel
Extended hours

Experience Level

10+ years of relevant legal experience
Expert level

Education Level

Law degree
Licensed to practice law in all applicable jurisdictions

Salary/Compensations

CO/FL/TX: Minimum Salary $158,000, Maximum Salary $308,900
IL/PA: Minimum Salary $173,600, Maximum Salary $340,200
MA/MD/VA/Washington, DC: Minimum Salary $181,500, Maximum Salary $355,400
NY/NJ: Minimum Salary $181,500, Maximum Salary $370,700

Benefits

Discretionary bonus
Overtime pay
Comprehensive health, dental and vision insurance
Basic life insurance
Accidental death and dismemberment insurance
Supplemental life insurance
Spouse/domestic partner and dependent life insurance
Spouse/domestic partner and dependent accidental death and dismemberment insurance
Short-term disability insurance
Long-term disability insurance
Long-term care insurance
Business travel accident insurance
Disability insurance
Legal insurance
Immediate participation and vesting in a 401(k) plan with company match
FINRA-funded retirement contribution
Tuition reimbursement
Commuter benefits
Adoption assistance
Backup family care
Surrogacy benefits
Employee assistance programs
Wellness programs
15 days of paid time off
5 personal days
9 sick days
Two volunteer service days
Military leave
Jury duty leave
Bereavement leave
Voting and election official leave
Care of a family member leave (available after 90 days of employment)
Childbirth and parental leave (available after 90 days of employment)
Nine paid holidays

About the Company

FINRA is a registered trademark of the Financial Industry Regulatory Authority, Inc.

Equal Opportunity

All qualified applicants receive consideration for employment without regard to any legally protected category, including race, color, age, national origin, ethnicity, religion, disability, genetic information, military or veteran status, sex, or any other status or classification protected by state or local law.
FINRA strives to make our career site accessible to all users. If you need a disability-related accommodation for completing the application process, please contact FINRA’s Employee Relations team at 240-386-4865 or by email at EmployeeRelations@FINRA.org.
FINRA abides by the requirements of 41 CFR 60-741.5(a). This regulation prohibits discrimination against qualified individuals on the basis of disability and requires affirmative action by covered prime contractors and subcontractors to employ and advance in employment qualified individuals with disabilities.
FINRA abides by the requirements of 41 CFR 60-300.5(a). This regulation prohibits discrimination against qualified protected veterans and requires affirmative action by covered prime contractors and subcontractors to employ and advance in employment qualified protected veterans.