Job Description:

Senior Vice President, Deputy General Counsel

Advisory Platform and Product Team, Asset Management Legal

Mission

The Senior Vice President, Deputy General Counsel role will be a member of the Asset Management Legal Leadership Team and will report directly to the Head of Asset Management Legal. Asset Management (AM) is one of the industry’s largest investment management organizations, providing a diverse mix of investment products and solutions across asset classes, investment styles, and client segments. In addition to its broad set of established investment capabilities investing globally across asset classes, AM is focused on developing and launching innovative new investment products and capabilities that bring crucial diversifiers to often underserved client segments-investors. The role will involve leading a team who provide legal support to Fidelity’s business focused on managed accounts, direct indexing and related investment advisory products. This role will require coordination and collaboration with colleagues in Asset Management, Personal Investments, Workplace Investments, Institutional and Institutional Asset Management, Investment Solutions and Innovation and other Fidelity business divisions and corporate enterprise services and control function business partners in the development, operation, and distribution of products and services for the institutional and high net worth client segments. Products and services covered by this group include investments across multiple asset classes, including alternative investments, delivered via 1940 Act registered funds, CITs, ETFs, managed accounts, separately managed accounts, sub-advisory, model portfolios and direct indexing.

Outcomes – and How we Measure Success (e.g., Scorecard framework)

• Acceleration of completed investments and deals for AM and new product offerings
• Creative partnering and problem solving with business partners
• Strong Required mix of skills

Subject matter expertise in a wide variety of relevant technical and related business legal areas

• Strong wealth management securities industry knowledge
• Strong securities law and regulatory knowledge
• Strong and broad intuition for business and savvy
• Strong listening and consultation skills – leadership and associate voices
• Strong critical thinking and influence skills
• Improved bench strength
• Attract and retain superior legal professionals
• Ability to contribute meaningfully to the NAV process and become a trusted partner with Finance in understanding balance sheet implications of investment activities
• Culture – Responsibility, integrity, compassion, and excellence
• Raises issues requiring more senior attention in a timely manner
• Minimize spend on regulatory fines and penalties for legal/compliance errors, reduce exam exposure, and meet all regulatory deadlines
• Improve, automate, and eliminate waste in key legal processes
• Major client/project delivery
• On-time/on budget
• Strong business unit and associate feedback
• Scale/efficiency
• Disciplined budget and expense management
• Build a Healthy and Engaged Legal organization
• Strong associate sentiment, including
• Community wants to be a part of
• Willing to speak up
• Voice is Heard
• Career growth, that includes better mobility
• Connected to greater good

Fidelity Legal Organization/Footprint

Overall function of over 250 legal professionals, of which over 50 are part of the Asset Management Legal group. Associates are spread across 10+ geographic locations. This team will consist of 6-8 associates.

Major Activities

• Provide legal and strategic advice and counsel to our business partners on all legal aspects in the offering and delivery of institutional and HNW investment products and services, including the review and drafting of relevant documentation, e.g. offering documents, subscription documents, term sheets, advisory and discretionary investment management agreements
• Providing legal advice and support on the structure, contractual framework, and operation of managed account programs and platforms, wrap fee programs, discretionary managed portfolios, and model-based portfolios
• Advising on advisory product development in collaboration with multiple groups within Fidelity, including product, client experience, risk, compliance, finance, sales, technology, and marketing
• Providing legal support, analysis, and interpretation in connection with regulatory inquiries as well as legislative and policy developments
• Support of investment research, relationship management, compliance, and client experience teams
• Facilitation of the growth of the business in existing investment asset classes and support developing and launching new investment strategies and initiatives
• Advising clients on the design, formation, and ongoing operation of registered and unregistered funds, including closed-end interval funds, private funds, and other investment vehicles/ structures
• Advise business and control function partners in the context of new business initiatives and implementation of new legal and regulatory requirements in relation to investment products and services related matters
• Work closely with business and control function partners to identify changing laws and regulations and coordinate effective, fluid, and timely implementation of policy, process, and procedural changes to ensure compliance therewith
• Assist and advise on transactions across the Fidelity enterprise, funds, client separate accounts and other investment structures; advise on conflicts of interest and related regulatory matters
• Evaluating new technology and tools relating to the offering of alternative investments

Key Interfaces

The legal function must continue to evolve to become more integrated into the fabric of our different business units and organizations. This includes:

• Business leaders – active engagement and working together to achieve the firm's goals with creativity, innovation, and speed while mitigating risk and protecting and enhancing Fidelity's values/reputation
• Leaders of new business areas – partner to engage at the right inflection points with a bias for speed, while maintaining Fidelity’s strong risk/compliance culture
• Corporate Legal Team – focus on evaluating and upgrading talent across matrixed team by increasing mobility, developing high quality successors for key roles, and expanding recruiting pipelines. Also work to improve metrics, transparency and communication that galvanize leaders to action.
• Senior Management Team – regular and as need updates
• Help lead the overall LRC organization effectively by partnering with Heads of Risk and Compliance as applicable for the needs of the business
• Government Relations and Communications Organizations

Competencies

• Substantive expertise in brokerage, investment advisory and related legal and regulatory areas critical to the AM businesses
• Crisp, clear business partner oral and written communication skills, in particular the ability to reduce complex legal issues to straightforward, practical analysis and advice
• Business acumen relevant to brokerage and investment advisory offerings and new product development; demonstrated ability to absorb and use relevant job knowledge
• Ability to manage outside counsel to provide excellent legal services in a cost-effective manner
• Natural collaborative approach in devising pragmatic and creative solutions across a variety of issues in a dynamic environment
• Ability to build and maintain strong relationships and credibility, internally and externally
• Refined leadership and influence skills
• Strategic and critical thinking skills, excellent judgment, and decision-making skills
• Professional maturity, confidence, presence, and initiative
• Entrepreneurial spirit, and a desire to learn
• Agility and resilience characterized by ability to educate and influence others to embrace and move quickly and flexibly in developing and implementing new ideas, and ability to stay calm under pressure with a “can-do” attitude

Experiences

• J.D. required, member in good standing with the New York, New Jersey, and/or Massachusetts State Bar Associations
• A minimum of 10 years of relevant investment management experience in-house at a top-tier wealth management firm, private bank or advisory platform provider private equity firm, hedge fund, alternative investment manager or other leading financial services organization
• Expertise in U.S. federal securities laws and regulations, including the Investment Advisers Act of 1940 and the Investment Company Act of 1940, Securities Act of 1933, Securities Exchange Act of 1934, and Commodity Exchange Act
• Knowledge and experience working with intermediary distribution channels is essential
• Familiarity with ERISA's prohibited transaction rules and related guidance and interpretations applicable to investment managers is helpful
• Experience managing and developing a team of seasoned professionals; demonstrated management experience in leading a team through change

Certifications:

Fidelity Investments is a privately held company with a mission to strengthen the financial well-being of our clients. We help people invest and plan for their future. We assist companies and non-profit organizations in delivering benefits to their employees. And we provide institutions and independent advisors with investment and technology solutions to help invest their own clients' money.

At Fidelity, you'll find endless opportunities to build a meaningful career that positively impacts peoples' lives, including yours. You can take advantage of flexible benefits that support you through every stage of your career, empowering you to thrive at work and at home. Honored with a Glassdoor Employees' Choice Award, we have been recognized by our employees as a Best Place to Work in 2023. And you don't need a finance background to succeed at Fidelity—we offer a range of opportunities for learning so you can build the career you've always imagined.

At Fidelity, our goal is for most people to work flexibly in a way that balances both personal and business needs with time onsite and offsite through what we're calling "Dynamic Working."

We invite you to Find Your Fidelity at fidelitycareers.com.

Fidelity Investments is an equal opportunity employer. We believe that the most effective way to attract, develop and retain a diverse workforce is to build an enduring culture of inclusion and belonging.

Fidelity will reasonably accommodate applicants with disabilities who need adjustments to participate in the application or interview process. To initiate a request for an accommodation, contact the HR Accommodation Team by sending an email to accommodations @fmr.com, or by calling 800-835-5099, prompt 2, option 3.