General Counsel (1920)
Job Description and Responsibilities After more than 20 years with the firm, Interactive Brokers LLC's current General Counsel is retiring from the position within the next 12 months and the firm is looking for a motivated and talented attorney with significant experience in securities and broker-dealer issues to lead the firm's Legal Department through its next phase of growth. The company is headquartered in Greenwich CT, with its primary legal office in Washington, D.C. The new General Counsel will share time between these two offices, but preferably will be located in Washington, DC.
The firm is growing very quickly and is the largest U.S. electronic broker based on daily average revenue trades. The firm recently restructured its Legal and Compliance Department and promoted its Deputy General Counsel to the position of Chief Regulatory Officer. The new General Counsel will work closely with the Chief Regulatory Officer and the firm's Chief Executive Officer to provide top-quality legal services and advice both to the business and to the Compliance Department.
The majority of legal and regulatory work is performed in-house, although the firm utilizes leading outside law firms as appropriate. The firm has a very talented legal staff of between 25-30 lawyers worldwide, and growing. The General Counsel's office in Washington, DC is divided into three main areas relating to the firm's business as a global securities and futures broker: 1) regulatory and business advice; 2) regulatory enforcement; and 3) litigation. There are experienced and highly competent team leads in place for each of these areas. In addition to overseeing these specific legal functions relating to its brokerage business, the General Counsel will provide management and advice relating to basic corporate matters such as employment, risk management, public company reporting and disclosure, etc.
Among the major responsibilities of the General Counsel will be to oversee:
- Continuing to build a responsive, full-service Legal Department in response to rapid growth in the Firm's existing business and new business lines.
- Identifying and designing necessary changes to the Firm's systems and procedures to address new rules and regulations.
- Evaluating the legal and regulatory impact of new proposed business lines or offerings.
- Managing the firm's international legal staff (typically employed by foreign affiliates) and helping to establish new affiliates in new jurisdictions.
- Handling regulatory inquiries from the SEC, FINRA, CFTC, NFA and other regulatory authorities.
- Handling litigation (including arbitrations, state and federal court cases and cases in international forums) involving clients, counterparties, intellectual property, etc.
- Drafting and reviewing agreements, disclosures, account documentation and website materials.
- Crafting written functional specifications or instructions for programmers and technology staff to respond to new regulations or to launch new business lines.
Success will require a high level of energy, commitment and management skills, plus great attention to detail and learning and mastery of the Firm's business lines and technology platform.
- 15+ years post-J.D. experience at a law firm, broker-dealer, financial services regulatory agency or securities exchange.
- Significant experience in broker-dealer regulation and enforcement.
- Member in good standing of the bar of any U.S. state or the District of Columbia.
- Solid academic background.
- High degree of comfort with computers and technology, and understanding of how technology is applied to business and regulatory problems.
- Outstanding oral and written communication skills.
Interactive Brokers ("IBKR"), a subsidiary of publicly-traded Interactive Brokers Group, Inc., based in Greenwich, Connecticut (IEX: IBKR) is a low-cost provider of trade execution and clearing services for active traders, institutional investors, financial advisors and introducing brokers. IBKR's premier technology provides electronic access to stocks, options, futures, forex, bonds, and funds worldwide from a single IBKR Integrated Investment account. IBKR is one of the largest online brokers by trade volume and is consistently ranked at the top of its field.
Our employees are part of a dynamic, multinational, fast-paced, results-oriented team working to provide our customers with state-of-the-art trading technology, superior execution capabilities, worldwide electronic access, and sophisticated risk management tools.
Our headquarters are in Greenwich, CT, USA. IBKR has offices in the United States, Canada, the United Kingdom, Switzerland, Hungary, Estonia, Russia, India, Hong Kong, China, Japan and Australia.
IBKR is a member of NYSE, FINRA, and SIPC. Interactive Brokers Group brokerage affiliates are regulated by securities and commodities agencies around the world.
For more information, please visit www.ibkr.com/info