What are the responsibilities and job description for the Director, Legal Counsel - Trading Group position at Charles Schwab Inc.?
Your Opportunity
At Schwab, you are empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us “challenge the status quo” and transform the finance industry together. We are recruiting strong candidates to join our Trading, Markets and Operations legal group.
As a member of our team, you will report to the Managing Director, Legal – Trading group. This position will focus on providing comprehensive legal advice and guidance related to Schwab’s retail product offerings and trading operations. Given the nature of trading, attorneys in this area are responsible for handling time-sensitive issues.
Responsibilities include:
- Provide legal advice on matters involving trading activities, particularly regarding trading activities involving equity options.
- Provide legal advice on matters involving Securities and Exchange Commission (“SEC”) and Financial Industry Regulatory Association (“FINRA”) rules and guidance.
- Provide legal advice on matters involving Commodity Futures Trading Commission (“CFTC”) and National Futures Association (“NFA”) rules and guidance.'
- Review, analyze, interpret, and prepare guidance on changes to federal law, such as new legislative and regulatory initiatives, court decisions, and actions by SROs, that may impact Schwab’s trading services and retail markets.
- Advise on regulatory investigations involving trading activities as needed.
- Collaborate effectively within the legal department and cross-functionally.
*This is a hybrid position.
What you have
To ensure that we fulfill our promise of “challenging the status quo,” this role has specific qualifications that successful candidates should have:
Required Qualifications:
- BA/BS and JD degree from an ABA accredited law school are required.
- State Bar membership in good standing in the state of residence or satisfaction of the applicable State Bar requirements (if any) for in-house counsel.
- A minimum of 7 years of relevant law firm or in-house counsel experience in securities law with a financial services company that includes broker-dealer matters, or experience with an industry regulator.
- In-depth knowledge of securities trading regulations and relevant compliance issues.
- Highly specialized background and experience regarding trading in equity options.
- Solid understanding of SEC and FINRA regulations, including legal requirements under the Securities Exchange Act of 1934, Regulation NMS, Regulation SHO, and other applicable regulations.
- Ability to assess legal risks associated with Schwab’s trading operations and provide strategic advice to mitigate those risks.
- Familiarity with best execution practices and customer protection requirements.
- Experience partnering with outside counsel.
Preferred Qualifications:
- Creative thinker with strong problem-solving skills who is highly collaborative and able to stay calm under challenging circumstances.
- Strong communication skills, both verbal and written.
- Ability to navigate fast-paced environments and manage multiple priorities simultaneously.
- Ability to work collaboratively across multiple departments. Understanding of CFTC and NFA regulations and guidance.
- Familiarity with derivatives and other financial products traded at Schwab.
In addition to the salary range, this role is also eligible for bonus or incentive opportunities.
