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The Northwestern Mutual Law Department is seeking an experienced and agile attorney interested in joining a diverse, challenging, and fast-paced practice advising the Company on a wide range of issues as the Company works to transform how clients experience financial security.
What's the role:
This attorney will be a member of the Department’s Investment Products and Advisory Services Team and will primarily focus, as part of a sub-group of lawyers and paralegals and working closely with the Company’s compliance professionals, on supporting our proprietary mutual fund complex that serves as an investment option for our variable insurance products and the registered investment adviser for that complex, which also has certain oversight responsibilities for the Company’s $250+ billion General Account investment portfolio. This attorney will report to the VP-Investment Products and Services in the Law Department. Most Northwestern Mutual legal work is handled entirely in-house, including the production of mutual fund registration statements and the preparation of all regulatory filings and shareholder reports for the fund complex and its adviser. Examples of the type of work this attorney will engage in as a member of the Investment Products and Advisory Services Team, includes:
Analyzing SEC rule proposals and adoptions applicable to investment companies and registered investment advisers, advise our business clients on requirements and risks, and serve on project teams to implement such rule makings.
Assisting in preparing regulatory filings on behalf of the mutual fund and its registered investment adviser including registration statements, prospectus supplements, shareholder reports, proxy statements, ADVs, etc.
Developing materials for quarterly mutual fund Board meetings, presenting at such meetings on relevant topics and recording minutes of certain Board committees.
On boarding sub-advisers for our mutual fund complex and external money managers for our General Account portfolio including preparing non-disclosure agreements and investment management agreements.
Information About Northwestern Mutual and the Law Department:
Of the Northwestern Mutual Law Department’s 120 people, approximately 75 are lawyers, having come to Northwestern Mutual from all around the country after having graduated from a multitude of law schools and undergraduate institutions and having practiced in a wide variety of settings. The balance of the Department consists of highly-skilled paralegals and research and administrative professionals who support significant aspects of the Department’s operations. Our Law Department is inclusive and diverse, comprising a rich mixture of men and women who come from a wide variety of ethnic and religious backgrounds and includes people of color and those who are openly gay or lesbian.
The Northwestern Mutual Law Department provides the vast majority of legal services in nearly all disciplines directly to the Company, with only select utilization of outside counsel. There are eight main practice teams within the Law Department: Insurance Products and Operations; Investment Products and Advisory Services; Corporate and Tax; Distribution; Litigation; Enterprise Governance; Private Securities Investments; and Real Estate Investments. Lawyers have the opportunity to develop a thorough understanding of the Company’s business needs, and we are fully engaged in the execution of the Company’s business strategy. This allows us to provide the most timely and effective counsel in an efficient manner and leads to greater career satisfaction for our attorneys, paralegals, and professional administrative staff.
Northwestern Mutual has been helping families and businesses achieve financial security for more than 160 years. Through a distinctive, personalized planning approach, Northwestern Mutual combines the expertise of its financial professionals with a digital experience to help its clients navigate their financial lives every day. With $290.3 billion in total assets, $29.9 billion in revenues, and $1.9 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.6 million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. Client assets held or managed through the company's wealth management and investment services business total $161 billion. Northwestern Mutual ranks 111 on the 2019 FORTUNE 500 and is recognized by FORTUNE® as one of the "World's Most Admired" life insurance companies in 2019. Northwestern Mutual also received the highest score among individual life insurance providers in the J.D. Power 2019 U.S. Life Insurance Satisfaction Study.
Bring Your Best! What this role needs:
Candidates must have at least four years of legal experience advising on the Investment Company Act of 1940, the Investment Advisers Act of 1940 and related regulations as well as preparing related regulatory filings. Experience with other securities and/or banking laws, including with respect to derivatives, registered broker-dealers or OCC regulated national banks is a plus.
Experience with Investment Company Board governance, including working effectively with outside Board members.
To qualify, this candidate must be able to analyze a variety of legal issues, synthesize complex information, and provide solution-oriented legal advice to business professionals throughout the enterprise.
A candidate must have an exemplary academic record and a Juris Doctorate degree; note that a license to practice law in the State of Wisconsin or a commitment to become licensed within the first year of employment is required.
Desired personal attributes:
Excellent interpersonal, communication and presentation skills, a highly analytical and curious mind, strong attention to detail, creative, comfortable dealing with ambiguity, of high integrity and ethical standards, and evidencing a positive demeanor.
Demonstrated ability to collaborate and contribute effectively in a team environment and across teams within and outside of the Law Department; exceptional partnership and relationship building skills.
Self-motivated with the ability to work autonomously and to effectively prioritize multiple tasks at the same time.
A keen problem-solving approach using sound legal reasoning and practical business judgment to identify and address risks and achieve results that balance benefits for all stakeholders of the enterprise.
The scope of this role may change over time to respond to business needs. The successful candidate will be flexible and adaptable in terms of general skill sets and aspirations.
Internal Number: 14204
About Northwestern Mutual
The Northwestern Mutual Life Insurance Company, Milwaukee, WI, a FORTUNE 500 company with over $1 trillion of life insurance protection in force, has been helping its policyowners and clients achieve financial security for more than 150 years. Through the Northwestern Mutual Financial Network, the marketing name for the company’s nationwide sales distribution arm, the company and its affiliates deliver a unique approach to combining insurance and investment solutions to help clients achieve financial security. These solutions include life insurance, long-term care insurance, disability income insurance, annuities, mutual funds, and employee benefit services. Northwestern Mutual’s subsidiaries and affiliates are comprised of Northwestern Mutual Investment Services, LLC, a wholly-owned company, broker-dealer, member of FINRA and SIPC; the Northwestern Mutual Wealth Management Company, a wholly-owned company of Northwestern Mutual and limited purpose federal savings bank; Northwestern Long Term Care Insurance Company; and the Russell Investment Group. Please apply to any current openings by visiting our website: http://www.nmfn.com/tn/careers--corp--corporate.
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