FOLIOfn, Inc.

  • General Counsel

    Job Locations US-VA-McLean
    Posted Date 1 month ago(4/17/2018 11:35 AM)
    Job ID
    2018-1071
    # of Openings
    1
    Category
    Legal
  • Overview

     

    FOLIOfn, Inc. (“Folio”) provides investment technology and other services to the financial services industry and through its wholly-owned subsidiary, Folio Investments, Inc.  Folio has more than 19 patents covering an array of financial services and products and has been, and continues to be, a pioneer in a number of areas in the investing and wealth management fields.

     

    Folio Investments, Inc. is a self-clearing broker-dealer that services on-line, self-directed customers, provides a custody platform for servicing clients of registered investment advisors, is a clearing broker for independent introducing broker-dealers, and operates an alternative trading system for registered notes issued by a peer-to-peer lending platform.  The firm also facilitates offerings of unlisted securities via its custody platform under the VIA Folio® brand.

    Folio also has a wholly-owned SEC-registered investment advisor subsidiary through which it offers advisory services focused on socially responsible impact (“SRI”) investing and a related entity that hosts one of the largest SRI investing conferences in the U.S. – The SRI Conference.

    The General Counsel will report to the Founder and Chief Executive Officer of Folio and will have overall responsibility for managing the operations of the Legal Department, including developing and enhancing policies and procedures, working with outside counsel to manage Folio’s trademark portfolio, developing and enhancing standard form agreements and disclosures, addressing legal matters that arise with respect to the day to day business operations of Folio and its operating subsidiaries, new business initiatives, regulatory examinations and inquiries, litigation, and commercial transactions. The General Counsel also will be expected to perform the role of Corporate Secretary, provide support to the Compliance Departments and advance the positions of the firm from a public policy perspective by actively engaging the firm’s various regulators, including the SEC and FINRA, and working with industry associations.  

    Responsibilities

    • Identifying and developing methods to mitigate legal, compliance and operational risks to Folio, including the operating subsidiaries.
    • Reviewing new business initiatives and providing input relating to compliance with relevant laws, rules and regulations.
    • Negotiating contracts with vendors, counterparties and new clients.
    • Evaluating regulatory developments that impact the firm’s business areas.
    • Communicating with various regulatory bodies directly and through industry associations in response to examinations and inquiries as well as to seek interpretive guidance.
    • Providing education and direction to other departments on the application of laws, rules and regulations relevant to the firm’s businesses.
    • Addressing ongoing legal matters such as disclosure updates, agreement updates, corporate governance documents, and Legal Department policies and procedures, etc.
    • Conducting internal inquiries relating to personnel and litigation matters.
    • Lead, coach, supervise and develop personnel as required; utilize outside resources as appropriate.

    Qualifications

     

    • An understanding of the federal securities laws, with particular expertise with respect to the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the USA Patriot Act and the underlying rules and regulations.
    • Experience with front and back office process with a retail-oriented and/or advisor custody platform broker-dealer, preferably self clearing.
    • Familiarity with technology offerings, including application programming interface offerings, licensing arrangements and development statements of work.
    • An understanding of laws relating to data privacy, information security and cyber security.
    • Familiarity with relevant Regulations issued by the Board of Governors of the Federal Reserve System such as Regulation E and Regulation T.

    Required:

    • Ability to operate effectively in an environment with a highly specialized vision and mission.
    • Excellent people leadership skills and ability to leverage the capabilities of peers, business partners, and associates along with the confidence to effectively influence stakeholders.
    • Ability to work collaboratively with a team as well as independently.
    • Desire to learn and be open to new ideas and different perspectives.
    • Strong business judgment and attention to detail.
    • Effective written and verbal communication skills and the ability to convey complex legal analyses succinctly and in a way that is understandable by people of various experience and knowledge levels.
    • Strong attention to detail and an interest in doing things right.
    • Minimum 10 years of securities law/regulatory experience relevant to the firm’s business operations; a combination of law firm and in-house experience is preferred.
    • J.D. from a competitive law school.
    • Licensed to practice law in VA or able to become Corporate Counsel licensed in VA.

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