Job description
There is a place for you at T. Rowe Price to grow, contribute, learn, and make a difference. We are a premier asset manager focused on delivering global investment management excellence and retirement services that investors can rely on today and in the future. The work we do matters. We invite you to explore the opportunity to join us and grow your career with us.
ABOUT THIS POSITION
As Managing Legal Counsel for RPS Operations, you will lead a team of legal professionals responsible for helping retirement plan associates and legal colleagues navigate tax law and related rules governing retirement plan operations. You and your team will work collaboratively with business, legal and compliance teams to provide practical advice on matters affecting the recordkeeping of qualified and non-qualified retirement plans, assist with development of compliance programs needed to service retirement plans, and assist with oversight of vendors responsible for providing services in connection with the retirement plan recordkeeping business. Using an in-depth knowledge of IRS and DOL correction programs, you will also develop remediation strategies for the correction of plan and recordkeeping errors. The candidate best suited for this role will have in-depth understanding of employee benefits law, including Title I of the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code, with an emphasis on tax rules and regulations applicable to Section 401(a) qualified retirement plans, Section 403(b) plans, Section 457(b) plans, and nonqualified deferred compensation plans under Section 409A. Candidates who have an extensive background working on retirement plan design and defined contribution plan recordkeeping services and related practices, processes and procedures is preferred.
ROLE SUMMARY
Provides leadership and direction, typically to senior-level business unit employees focused on providing retirement recordkeeping and related services to institutional clients. This Managing Legal Counsel will provide advice on laws, rules, and regulations affecting retirement plan recordkeeping, with a primary focus on the Internal Revenue Code tax plan qualification rules. Leads a team of attorneys and/or legal professionals to provide practical advice on retirement plan operations and administrative matters. Partners with business, Legal, and Compliance colleagues to influences decisions related to the business unit’s service delivery and oversight of vendors contracted to assist with service delivery.
RESPONSIBILITIES
- Manages other attorneys and oversees the work of legal professionals to support the needs of T. Rowe Price’s retirement plan recordkeeping business.
- Provides practical legal advice to business unit leaders on complex matters.
- Works with business, Legal and Compliance colleagues to develop business unit policies and procedures.
- Possesses a thorough understanding of the retirement plan recordkeeping products and services, as well as the ability to respond to legal issues that can involve new or novel issues.
- Manages projects involving outside counsel.
- Advises on decisions regarding business unit issues impacting the retirement plan business, products, services, and/or strategies.
- Communicates with individuals on different levels, both internal and external to the Legal Department.
- Effectively influences stakeholders to adopt critical legal advice and recommendations.
- Conducts sophisticated analyses of legal and business problems and develops sound legal strategies that balance firm interests with legal risks.
- Leads others in solving complex issues and identifying innovative solutions.
TYPICAL QUALIFICATIONS
- JD Required
- 10+ years of total relevant work experience and 3+ years of management experience.
REGIONAL REQUIREMENTS
- FINRA licenses are not required and will not be supported for this role.
PREFERRED (OR ESSENTIAL) QUALIFICATIONS
- An ideal candidate will have both a strong working knowledge of the laws/rules affecting qualified retirement plans including ERISA and the Internal Revenue Code.
- Previous experience advising retirement plan recordkeeping services providers or plan sponsors overseeing plan service providers is preferred.
- Detailed knowledge of the IRS Employee Plans Compliance Resolution System (EPCRS) to correct plan mistakes.
- Familiarity with qualified plan document design, pre-approved plans and plan administrative procedures is a plus.
Commitment to Diversity, Equity, and Inclusion:
We strive for equity, equality, and opportunity for all associates. When we embrace the power of diversity and create an environment where people can bring their authentic and best selves to work, our firm is stronger, and we create greater value for our clients. Our commitment and inclusive programming aim to lift the experience for each associate and builds allies for our global associate community. We know that a sense of belonging is key not only to your success at the firm, but also to your ability to bring your best each day.
Benefits: We invest in our people through a wide range of programs and benefits, including:
- Competitive pay and bonuses as well as a generous retirement plan and employee stock purchase plan with matching contributions
- Flexible and remote work opportunities
- Health care benefits (medical, dental, vision)
- Tuition assistance
- Wellness programs (fitness reimbursement, Employee Assistance Program)
Our policies may change as our working lives evolve. Yet, our commitment to supporting our associates’ well-being and addressing the needs of our clients, business, and communities is unwavering.
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.
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