A Vice President and Senior Counsel (“VP/SC”) will generally have at least eight years of experience in the financial services industry.  A Vice President and Senior Managing Counsel (“VP/SMC”; the VP/SC and VP/SMC are referred to as “Senior Counsels”) will generally have at least twelve years of experience in the financial services industry.  A Senior Counsel bears ultimate responsibility for the delivery of quality Legal Administration services to his/her assigned clients and must be able to independently manage his/her client relationships effectively.  He or she must work independently with a minimum of management direction from the Department Head.  Senior Counsels must be an expert in 1940 Act issues and possess a highly developed understanding of not only the legal issues but also the business, distribution, marketing and structural issues facing mutual fund clients.

The following are specific responsibilities of a Senior Counsel:

  • Responsible for keeping current with legal developments, coordinating communication of such developments to clients and proactively applying such developments to clients’ situations.
  • Serves as a mentor or developer of less experienced colleagues
  • Leads resolution of complex client or internal legal issues; issues with potential liability to State Street and “sticky” client service issues; brings such issues to the attention of senior management; and resolves such issues with input from more senior management.
  • May provide support to sales professionals, financial administration personnel, make presentations to potential clients, research and prepare memoranda on general industry issues not related to specific clients and/or participate in seminars and conferences on industry-related topics.
  • Provides effective legal support to the Financial Administration Department and or Transfer agency group on contractual, operational, compliance and other issues.
  • Negotiates fund administration and other service contracts.
  • A VP/SMC will generally have managerial responsibility for junior attorneys.
  • A VP/SMC may direct and manage a small legal administration unit
  • A VP/SMC may direct and coordinate the legal operations for a small business unit.

The following are specific attributes of a Senior Counsel:

  • Demonstrates high level of integrity and professionalism.
  • Excellent communication skills, both written and verbal.
  • Works collegially with other department members and treats other department members with respect.
  • Possesses strong time management skills. 
  • Independently handles complex projects and multiple priorities for multiple clients.
  • Establishes close working relationships with clients and provides excellent service to clients with minimal supervisions.
  • Has a mastery of relevant statutes and rules.
  • Demonstrates keenly developed issue spotting and diagnostic problem solving skills.
  • Exercises considerable sound business and legal judgment.
  • Demonstrates strong organizational skills and independent follow through on issues and tasks.
  • Demonstrates ability to adapt and manage new, changing and often conflicting situations.
  • Ability to delegate assignments effectively and efficiently. 
  • Utilizes resources efficiently.

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