Senior Legal Counsel – U.S. Registered Funds and ETFs

About the Role

The U.S. Registered Funds Legal team provides legal and strategic support to T. Rowe Price's registered investment products, including mutual funds, exchange-traded funds (ETFs), closed-end funds, and other registered investment vehicles. This role partners closely with Product, Investments, Distribution, Capital Markets, Operations, Compliance, Risk, and other stakeholders to support product development, fund governance, regulatory matters, disclosure obligations, and business initiatives related to T. Rowe Price's ETF and registered fund business.

 

We are seeking an experienced attorney to serve as Senior Legal Counsel supporting T. Rowe Price's U.S. registered funds platform, with a significant focus on ETFs and related product initiatives. In this role, you will advise business partners, investment professionals, and product teams on legal and regulatory matters affecting T. Rowe Price's ETF business. Responsibilities include supporting new products and business initiatives, assessing regulatory developments, assisting with product launches and modifications, preparing regulatory filings and governance materials, and advising on ETF-related legal issues.

 

The ideal candidate will have experience working with ETFs and registered investment companies and will be comfortable collaborating with business, legal, compliance, and operational teams on complex legal and regulatory matters affecting investment products.

 

Role Summary

Provides specialized legal counsel supporting T. Rowe Price's U.S. registered fund products and business areas. Serves as a trusted advisor who leverages knowledge of the firm's businesses, products, and regulatory environment to develop practical legal solutions and advance legal positions. Partners with business, Legal, and Compliance colleagues to support decision-making relating to ETFs and registered funds. Provides advice regarding existing and proposed laws, rules, and regulations affecting registered funds, including the Investment Company Act of 1940, the Investment Advisers Act of 1940, and related securities laws.

 

Responsibilities

• Provides legal counsel on the formation, registration, launch, governance, and ongoing maintenance of registered investment products, with a focus on ETFs.
• Advises business partners on ETF-related matters, including product development initiatives, product changes, and related regulatory considerations.
• Provides legal advice regarding the Investment Company Act of 1940, Securities Act of 1933, Securities Exchange Act of 1934, SEC rules and guidance, exchange requirements, and industry developments.
• Supports ETF-specific matters, including exchange listing requirements, authorized participant arrangements, creation and redemption processes, and related operational considerations.
• Partners with Product, Investments, Capital Markets, Trading, Distribution, Operations, Compliance, and Risk teams on matters affecting the firm's ETFs and registered fund platform.
• Monitors and analyzes regulatory developments and industry trends affecting ETFs and registered funds and advises stakeholders regarding their potential impact.
• Assists with the preparation, review, and maintenance of registration statements, prospectuses, statements of additional information, shareholder communications, board materials, and other regulatory filings and disclosures.
• Collaborates with internal stakeholders and outside counsel to address legal, regulatory, and operational issues related to ETFs and registered funds.
• Handles a portfolio of complex legal matters, balancing business objectives with legal, regulatory, reputational, and operational risks.
• Conducts legal analysis and research regarding business and regulatory matters and provides practical recommendations to stakeholders.
• Coordinates with and helps manage outside counsel in connection with assigned matters.
• Provides guidance and support to less experienced legal department colleagues as appropriate.

 

Qualifications

Required:

• Juris Doctor (J.D.) from an accredited law school and admission to the Maryland Bar or another U.S. state bar
• 8+ years of legal experience advising registered investment companies, asset managers, or financial services organizations
• Experience supporting registered investment companies, including ETFs or related investment products
• Strong knowledge of the Investment Company Act of 1940 and related federal securities laws
• Demonstrated ability to analyze complex legal and regulatory issues and provide practical, business-focused legal advice
• Strong communication and relationship-management skills, including the ability to work effectively across business and functional teams

Preferred:

• Experience supporting ETFs, including ETF launches, product modifications, mutual fund-to-ETF conversions, or other product development initiatives
• Experience advising registered investment companies and preparing registration statements, prospectuses, shareholder disclosures, and related SEC filings
• Experience preparing materials for, and advising with respect to, registered fund boards and board committees
• Knowledge of ETF market structure, authorized participant arrangements, exchange listing requirements, and creation/redemption processes
• Experience collaborating with business teams, including Investments, Product, Distribution, Capital Markets, Trading, Operations, Compliance, and Risk
• Prior experience at a law firm, ETF sponsor, asset manager, or financial institution supporting ETFs and registered funds
• Experience managing complex legal matters and coordinating effectively with outside counsel
• Strong project-management and organizational skills, including the ability to manage multiple priorities in a fast-paced environment

 

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. 

Base Salary Ranges

Please review the job posting for the location of this specific opportunity.

$145,000.00 - $247,000.00 for the location of: Maryland, Colorado, Washington and remote workers
$159,000.00 - $272,000.00 for the location of: Washington, D.C.
$181,000.00 - $309,000.00 for the location of: New York, California

Placement within the range provided above is based on the individual’s relevant experience and skills for the role.  Base salary is only one component of our total compensation package.  Employees may be eligible for a discretionary bonus, which is determined upon company and individual performance.

Commitment to Diversity, Equity, and Inclusion

At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all. 

Benefits

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.