Managing Legal Counsel - U.S. Registered Funds and Subadvised Funds

At T. Rowe Price, we identify and actively invest in opportunities to help people thrive in an evolving world. As a premier global asset management organization with more than 85 years of experience, we provide investment solutions and a broad range of equity, fixed income, and multi-asset capabilities to individuals, advisors, institutions, and retirement plan sponsors. We take an active, independent approach to investing, offering our dynamic perspective and meaningful partnership so our clients can feel more confident. We believe doing the right thing for our clients and our associates is good business. With a career at the firm, you can expect opportunities to create real impact at work and in your community. You’ll enjoy resources to support your career path, as well as compensation, benefits, and flexibility to enrich your life. Here, you’ll find a collaborative culture that respects and values differences and colleagues who share a spirit of generosity. Join us for the opportunity to grow and make a difference in ways that matter to you. About the RoleThe U.S. Registered Funds Legal team provides legal and strategic support to T. Rowe Price's registered investment products and products for which T. Rowe Price serves as subadviser, including mutual funds, exchange-traded funds (ETFs), closed-end funds, and other registered investment vehicles. This role partners closely with both internal and external client stakeholders, including Investments, Distribution, Capital Markets, Operations, Compliance, Risk, and others to support client onboarding, fund governance, regulatory matters, disclosure obligations, and business initiatives related to T. Rowe Price's subadvised registered fund business.We are seeking an experienced attorney to serve as Managing Legal Counsel supporting T. Rowe Price's U.S. registered funds platform, with a significant focus on our subadvised fund business and related product initiatives. In this role, you will work closely with external clients as well as internal business partners on legal and regulatory matters affecting T. Rowe Price's subadvised and registered funds business. Responsibilities include onboarding new clients, managing clients’ legal inquiries, assessing regulatory developments, preparing regulatory filings and governance materials, and advising on other legal issues related to U.S. registered funds.The ideal candidate will have significant experience working with 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 SummaryProvides specialized, expert legal counsel supporting T. Rowe Price's U.S. registered fund products and subadvised 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 subadvised and proprietary 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.ResponsibilitiesServes as the primary legal advisor for a portfolio of subadvised registered fund clients and investment strategies.Provides legal counsel on the formation, registration, launch, governance, and ongoing maintenance of registered investment products, with a focus on subadvised registered funds.Advises business partners on registered fund-related matters, including client specific impacts, product development initiatives, product changes, and related regulatory considerations.Consults with clients and internal business partners on matters related to 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 subadvised-specific matters, including:Leading the negotiation, drafting, and interpretation of investment management agreements, subadvisory agreements, confidentiality agreements, side letters, amendments, and other client-facing documentation.Advising on investment guideline development and revisions, client-specific requirements, fee schedule changes, and related contractual implications.Identifying legal risks and developing solutions that align business objectives with firm standards and regulatory requirements.Reviewing client questionnaire responses, due diligence materials, board-related documentation, and contract renewal materials.Partners with internal and external stakeholders including Product, Investments, Capital Markets, Trading, Distribution, Operations, Compliance, and Risk teams on matters affecting the firm's subadvised and registered fund platform.Monitors and analyzes regulatory developments and industry trends affecting registered funds and advises stakeholders and clients 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.Conducts legal analysis and research regarding business and regulatory matters and provides practical recommendations to clients and internal stakeholders.Provides guidance and support to less experienced legal department colleagues as appropriate.QualificationsRequired:Juris Doctor (J.D.) degree from an accredited law schoolActive license to practice law and admission to the MD State Bar or another state barAt least 10+ years of total relevant legal experienceSignificant experience advising registered investment companies, investment advisers, or other financial services organizationsStrong knowledge of federal securities laws and regulations, including the Investment Company Act of 1940 and Investment Advisers Act of 1940Experience drafting, negotiating, and interpreting complex investment management agreements and related legal documentationDemonstrated ability to analyze complex legal and regulatory issues and provide practical, business-focused legal adviceStrong communication and relationship-management skills, including the ability to work effectively across business and functional teamsPreferred:Experience supporting SEC registered funds, subadvised funds, and institutional investment productsExperience advising on fund disclosure, regulatory filings, investment restrictions, and compliance mattersExperience advising registered investment companies and preparing registration statements, prospectuses, shareholder disclosures, and related SEC filingsExperience preparing materials for, and advising with respect to, registered fund boards and board committeesDemonstrated ability to influence stakeholders and manage complex cross-functional initiativesStrong client relationship and project management skillsFINRA RequirementsFINRA 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 RangesPlease review the job posting for the location of this specific opportunity.$174,000.00 - $297,000.00 for the location of: Maryland, Colorado, Washington and remote workers$191,000.00 - $327,000.00 for the location of: Washington, D.C.$218,000.00 - $350,000.00 for the location of: New York, CaliforniaPlacement 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 InclusionAt 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. BenefitsWe value your goals and needs, at work and in life. As an associate, you’ll be supported with resources, benefits, and work-life balance so you can thrive in ways that matter to you. Featured employee benefits to enrich your life: Competitive compensation Annual bonus eligibility A generous retirement plan Hybrid work schedule Health and wellness benefits, including online therapy Paid time off for vacation, illness, medical appointments, and volunteering days Family care resources, including fertility and adoption benefits Learn more about our 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.SummaryLocation: Owings Mills, MDType: Full time