GENERAL COUNSEL & SENIOR COMPLIANCE OFFICER
Alumni Ventures Group is searching for General Counsel and Senior Compliance Officer who will be responsible for ensuring the organization operates in a legal and ethical manner while meeting business goals and fulfilling our mission. The General Counsel & Senior Compliance Officer will provide guidance, advice and consultation on a variety of initiatives related to AVG’s business.
ABOUT ALUMNI VENTURES GROUP
Alumni Ventures Group is a fast-growing company with over 100 employees. Our mission is to grow and engage with an inclusive community of teammates, investors, and entrepreneurs disrupting the status quo in order to build a better future. AVG provides accredited investors with a smart, simple way to own a high-quality, actively-managed venture portfolio. Today, we serve roughly 4,000 investors, hundreds of startups, and have a newsletter subscription list of over 500,000. Our corporate headquarters in Manchester, NH provides support and resources to our fund teams in Boston, New York, Chicago, and San Francisco.
ABOUT THIS ROLE
Today, AVG delivers a direct-to-retail approach to thousands of accredited individual investors. Our product is simple: actively-managed VC portfolios with community. Our portfolios are diversified across stage, sector, geography, and lead investor. We are co-investors who co-invest alongside strong, professional lead VC investors. The General Counsel & Senior Compliance Officer at AVG will quickly develop a strong understanding of our business, products and sales channels in order to provide the team with, and participate in the execution of, an appropriate legal and compliance strategy through efforts and collaboration across functions and with outside legal partners to proactively address all legal and compliance issues. We are building a business committed to assuring the company practices, policies and procedures comply with regulatory and ethical standards.
Success for this role will be achieved through the development of a comprehensive legal and compliance function, accessed by and providing a high level of service to multiple groups including AVG’s Finance, Legal, Human Resource, Marketing, Investing and Technology functions and to outside counsel (Perkins Coie nationally and other firms locally) as well as additional legal & compliance resources. The General Counsel & SCO will be based in either AVG’s Manchester, NH headquarters or Boston, MA office and will travel frequently between the two locations. A minimal amount of additional travel may be necessary to fulfill the expectations of the role.
COMPENSATION & BENEFITS
In addition to salary:
Equity in AVG
Comprehensive Benefits and Wellness plan including Health, Dental, Vision
Paid parental leave
401K Retirement plan
Unlimited Time Off
OUTCOMES & RESPONSBILITIES
- Pro-active development of sound policies and practices in the service of our investors, teammates, and owners
- Favorable legal outcomes recognized as a result of the above, along with a clear roadmap and measurable progress towards continuous improvement
- Strong institutional understanding and adherence
- Effective and well-managed relationships, including workflow and budget, with outside legal and compliance partners
- Work with AVG’s senior management, Finance, HR, Marketing, registered representatives and other key constituencies to train, promote and ensure a culture that encourages legal, ethical business practices and compliance with applicable laws and regulations
- Work cross functionally with AVG leadership and the Talent & HR team to develop a communications and education program to inform and educate AVG’s Board of Directors, leadership team, staff and other stakeholders, as appropriate, on compliance best practices and recommendations
- Serve as the responsible party for the formation of business entities and funds and all related legal matters
- Identify potential regulatory & compliance risks relative to AVG’s position in the industry, business model and products and work with AVG’s management team to review and update internal policies and practices accordingly
- Participate in structuring new products and other related product development initiatives, providing compliance support throughout and following product development
- Serve as a liaison and central point of contact with regard to AVG’s Broker relationship, ensuring efficient and effective communications and compliance with regulation related practices across the organization
- Serve as AVG’s primary point of contact and manage relationships and communications with all applicable regulatory bodies as well as all matters pertaining to federal, state and international securities laws or regulation.
- Maintain sufficient, up to date industry and regulatory knowledge to serve as an expert consultant and manager of compliance for AVG’s business and management team
- Implement and manage an effective and accessible legal compliance program for AVG
- Oversee and facilitate inquiries and investigations, both internally and externally initiated, to ensure compliance and the legal and ethical conduct of AVG’s business
- Assist regulators, auditors, compliance personnel and business unit management with regulatory exams and inquiries
- Create and manage effective action plans in response to audit discoveries and compliance violations.
- Build and maintain an efficient and comprehensive filing and record-keeping system, including managing the preparation and practice of filing of all required documents including filings with regulators
- Develop and deliver on a regular reporting and communication program to ensure AVG’s management and appropriate stakeholders receive regular and consistent updates related to compliance
- Address and appropriately resolve employee concerns about legal compliance
- Support compliance efforts related to advertising, marketing, sales, supervisory oversight, training, email surveillance, branch office exams, regulatory examinations, FINRA licensing and registrations
- Assist in updating and revising of investment vehicles’ offering materials
- Provide support to AVG’s investment teams, Office of Investment, fund accounting and corporate finance functions relating to the management of AVG’s investments
- Superior analytic intelligence, engagement and ability to handle complexity
- Disposed to think critically and propose business-oriented solutions developed with excellent judgement, creativity and technical expertise
- Willing to build and maintain strong relationships/credibility with relevant internal stakeholders, outside counsel, consultants and regulators
- Can execute strategy with appropriate urgency and, at the same time, with respect for details and complexities
- Works well both independently and in collaborative partnership with a team or diverse group of stakeholders
- Capable of working in a highly autonomous environment, driving projects and initiatives forward independently while maintaining consistent and appropriate cross-functional communication with multiple stakeholders
- Thrives in a fast-paced, rigorous work environment requiring fast-paced execution and delivery
- Exceptional decision making relative to discretion and confidentiality
- Highly-analytical with strong attention to detail
EDUCATION & CERTIFICATIONS, LICENSES
- Bachelor’s degree in law, finance, business management or a related field
- Juris Doctorate strongly preferred
- Series 7 and 24 licenses strongly preferred
- Other appropriate licenses as needed
- 10+ years of relevant legal experience at the in-house legal department of a venture capital or other relevant financial services firm
- Significant tenure in a leadership role with a startup or high growth organization, including experience with corporate fundraising, equity offerings, distributions, buybacks, and other cap table functions.
- Successful experience standing up or reorganizing the legal function within a fast-paced, execution oriented organization
- Private equity, fund formation, securities laws, and credit/lending experience are a significant plus
- Experience initiating, directing, developing, implementing and maintaining policies and procedures governing compliance activities
- Experience with raising capital in a regulated environment.
- Thorough knowledge of legal requirements and procedures, sufficient to provide directional guidance early in processes or conversation
- Extremely effective oral and written communication skills, especially for distilling compliance and related concepts into straightforward recommendations relative to the business
- Able to distill and synthesize large amounts of information with emphasis on identifying legal, regulatory, compliance, accounting, practical and other issues
- Thorough knowledge of the broker-dealer business from a product, corporate governance, compliance and administrative perspective
- Strong knowledge of all applicable regulatory body rules & regulations, including marketing/advertising requirements
- Strong subject matter expertise in marketing review, including the maintenance of a marketing material and collateral review program for retail products
- Excellent ability to interpret and communicate regulatory guidance
- Proven ability to interact with and influence members of senior management and a highly entrepreneurial marketing and sales force