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Willis Towers Watson’s Investment business assists its institutional investor clients in the management of their investment portfolios by offering a variety of pooled fund solutions (including an innovative managed account platform), delegated investment services (“DIS”), and traditional investment consultancy services. Our clients include some of the world’s largest pension plans, insurers, sovereign wealth funds and endowments. As a leading global investment firm, we help our clients improve their ability to achieve their investment mission by managing investment complexity and identifying the best investment solutions for them. We combine innovative thinking with capable execution so our clients can successfully balance risk and return. Our Investment business employs over 900 associates worldwide, with more than 1,200 institutional investors as clients and has over $2.3 trillion of assets under advice and $82.5 billion of assets under management.
The Office of the General Counsel (“OGC”)
Willis Towers Watson’s in-house legal team is responsible for providing advice and assistance on a wide range of legal issues that arise in the course of the company’s various business lines. The Investment line of business has a small but expanding team of lawyers assigned to support its continued growth, with a particular focus on our fund solutions for which there is high demand. We have specialist investment lawyers located in the US, UK and South Africa dedicated to Investment work, with other lawyers providing local support in Canada, the Netherlands, Germany, Hong Kong, Japan and Australia as needed.
The successful candidate should be comfortable dealing with a wide range of legal and regulatory matters in supporting a growing funds business and should have a good understanding of common US pooled fund structures that are appropriate for ERISA plan investors. The focus of the role will be on ensuring that we continue to operate within the applicable legal and regulatory framework in the development, launch and operation of new fund solutions in the US (through Towers Watson Investment Services, Inc. (“TWIS”), our US Investment arm), assisting with the on-boarding of investors into our funds, and providing legal support on day-to-day operational matters. The role will involve working with external counsel on a regular basis, as well as liaising with members of Investments’ leadership team and other OGC members.
Providing advice on legal and regulatory issues related to launching and expanding our fund solutions business in the US through TWIS. This will include:
Providing product development advice with respect to various products intended for the pension plan (defined benefit and defined contribution) marketplace
Assisting the business with structuring transactions and identifying key legal issues associated with the development and launch of new investment strategies and products more generally
Negotiating investment management agreements with underlying managers to each TWIS multi-managed funds
Supporting the preparation and updating of offering documents associated with private fund offerings
Reviewing and negotiating side letters with investors and other investment contracts in the course of TWIS’ business, including various agreements with the administrator and custodian to the TWIS Funds and other service providers, fund distribution and broker-dealer agreements and confidentiality agreements
Advising with respect to potential investments made by TWIS on behalf of the Funds
Reviewing and assisting in the development of disclaimers for various marketing and other materials issued by TWIS
Advising the Compliance Department on the various rules and regulations applicable to private fund offerings, including Regulation D, bad actor certifications and investor qualification requirements
Advising sales personnel on the legal and regulatory aspects of marketing investment strategies and products, including to ERISA clients
Reviewing and approving marketing materials from a legal perspective
Addressing ad-hoc legal questions from internal business partners
Cultivating and promoting relationships with key business partners and fostering and promoting a culture of compliance
JD degree with relevant investment/funds experience and a good understanding of common US pooled fund structures, with experience in dealing with group trusts, collective investment trusts and other fund structures appropriate for ERISA plan investors
7-10 years practicing investment funds law, preferably with a leading law firm or a reputable asset management or investment advisory business
Experience on the product development side of a fund business and in reviewing and negotiating a variety of investment related agreements
Familiarity with the US regulatory framework, such as SEC, CFTC, ERISA, FINRA and OCC regulatory regimes
Commercially-oriented team player, with a collaborative approach and the ability to maintain effective working relationships across geographic boundaries
Ability to provide pragmatic legal advice and to offer guidance on commercial matters as required
Ability to work proactively and independently with minimal supervision, with an appropriate sense of urgency; the role would suit a self-starter with strong organizational skills and the ability to prioritize multiple tasks
Comfort in working closely alongside and in partnership with the business while retaining independence and objectivity in his/her role as a member of the OGC
Professional demeanour, with strong relationship skills and ability to deliver tough messages to business partners when necessary
Exceptional communication, writing, negotiating and problem-solving skills
Willis Towers Watson is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen in...stitutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas – the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.