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Thrivent Financial is hiring a Senior Counsel! You will provide legal expertise for our independent distribution channel, focusing primarily on our life and health products, as well as support the products and services of our broker dealer and registered investment advisor. You will also manage a staff of legal and compliance professionals that provide a range of legal and compliance support. This role will be critical in delivering well-reasoned, concise counsel that balances business oriented goals with the legal risks associated with current, proposed or anticipated business activities, while balancing business oriented goals with legal risk. The position will have primary responsibility to develop and recommend company policy on a variety of legal and regulatory issues.
Job Responsibilities and Duties:
Act as lead attorney advising third-party distribution of proprietary insurance and annuity products, specifically with regulations impacting the sale of fixed indexed and variable annuities and life insurance products through broker-dealers, field marketing organizations, registered investment advisers and independent agents.
Provide advice on legal issues to various levels of staff and management at Thrivent Financial (fixed and variable insurance), Thrivent Investment Management Inc. (broker-dealer and registered investment adviser), Thrivent Asset Management (registered investment adviser), Thrivent Trust Company, and related entities, and educate clients on proactive measures and approaches to manage potential legal exposure.
Provide regulatory counsel on insurance, broker-dealer and investment advisor related matters including distribution, supervision, compliance policies and procedures, financial reporting, compensation, sales and marketing practices, record keeping, recruiting, licensing, selling agreements, Form BD and ADV filings, and compliance with the DOL Fiduciary Rule.
Monitor, review, interpret and prioritize state and federal legislation and SEC and FINRA rules and regulations in an active and ever-changing regulatory environment and coordinate with business leaders to engage on advocacy and implementation.
Maintain a key role in strategic business discussions and evaluate the impact decisions have throughout the organization(s). Your consultation skills will be critical in this role in order to provide well-reasoned, concise counsel on legal risks while helping to achieve business oriented goals.
Identify potential legal or regulatory issues which may impact the organization’s business strategy, products, or business conduct and provide proactive legal advice accordingly.
Provide legal advice regarding SEC, FINRA, OCC and state regulatory inquiries and exams and interact with regulators as needed.
Able to act independently in providing legal advice on specified legal issues affecting the company; to communicate with and counsel all levels of the company – including senior management.
Conduct research, review, analyze and draft various documents, contracts, policies, procedures and obligations to which the company is or may become a party.
Review and provide advice on the management of customer inquiries, complaints and threatened litigation and recommend appropriate strategies to reducing potential legal exposure.
Build and maintain a high-performing team; select, develop, coach, reward and recognize team members.
Provide management and leadership to sections of legal and compliance divisions of the General Counsel’s Office, which includes performance management, work flow management and career development.
Address other strategic issues as assigned.
Juris Doctorate, member of the bar.
7+ years of relevant, high-quality legal experience.
Demonstrated deep subject matter expertise in one or more relevant areas of regulation and law.
Experience advising on insurance regulations impacting the sale of fixed, indexed and variable annuities and life insurance products.
Strong working knowledge of the financial services and insurance industries, including issues associated with manufacturing, administration and distribution of related products and services.
Other Critical Factors:
Excellent interpersonal, problem-solving, and leadership skills.
Extensive knowledge of relevant insurance and securities laws including FINRA and MSRB rules and ’33, ’34 and ’40 Acts.
Experience interpreting and advising on the DOL’s new fiduciary rule.
Hands on experience talking to and working with state insurance regulators, FINRA, SEC and other state regulators.
Experience advising on the distribution of life insurance and annuities through third-party broker-dealers, field marketing organizations (such as IMOs and BGAs), registered investment advisers and independent agents, including drafting and negotiating contracts, developing policies and procedures as part of the supervisory controls of the business.
Preferred - nice to have:
Knowledge of laws and regulations impacting operations of a national trust company, including rules issued by the Office of the Comptroller of the Currency
Thrivent Financial is a membership organization of Christians. Other Fortune-500 financial companies offer advice, but at Thrivent, we blend faith, finances and generosity to help our members have a healthy relationship with money—because we know that feeling like you have “enough” isn’t directly related to how much you have, it’s about how you use what you have. At Thrivent, we provide financial ...guidance by looking at money differently—seeing it as a tool; not a goal.When you join our team, you’ll put your talents to work in amazing ways. You’ll create strategies that help others follow sound financial principles and connect their finances with their values.You won’t just build your career; you’ll be part of a movement that’s focused on growing, innovating and serving.