Description

Monthly Salary:  Commensurate with experience

The Securities/Investment Attorney provides advice and counsel involving regular contact with the General Counsel, Executive Director, Chief Investment Officer, and various other employees of the Employees Retirement System of Texas (ERS).  Leads negotiations with both the in-house and external counsel of fund managers, investment advisors, investment service providers (including the ERS global custodian, the Texa$aver plan administrator, and the ERS securities lending agent), third party administrators, actuaries, and other persons with whom the agency contracts. 

Essential Responsibilities include, but are not limited to: 

• With regard to the Texa$aver 401(k)/457 Program, assists in the review, preparation, and negotiation of investment-related and administration-related contracts, Requests for Proposals, Requests for Qualifications, Requests for Information, and other documents related to administration and governance; serves as the lead OGC representative on the Texa$aver Product Review Committee (PRC) and provides legal advice to the PRC and to members of the ERS Group Benefits team regarding state and federal laws in order to ensure compliance with all laws; serves as the lead attorney with regard to all matters related to administrative rules, including rule amendments and the promulgation of new rules. 
• With regard to alternative investments, drafts, negotiates, interprets, and reviews legal documents, including limited partnership and limited liability company agreements for private equity, private real estate, private infrastructure, fixed income, and hedge funds and related agreements (including subscription agreements and side letters); directs the formation and documentation of customized ERS investment vehicles, such as “funds of one” and other vehicles conforming to ERS specifications.
• Reviews and responds to legal requests related to existing investments, including amendments, investor consents, investor advisory committee decisions, waivers, and most favored nation side letter reviews.
• Drafts, negotiates, interprets, reviews, and provides advice regarding investment-related agreements, including investment advisor, investment manager, custody services, securities lending services, and related agreements; contracts, bid specifications, and purchase orders; and other legal documents .
• Assists ERS investment staff in the development and drafting of requirements and specifications for investments-related projects; reviews and revises RFPs, RFQs, RFIs, and other solicitations for investments-related products and services.
• Advises ERS investment staff and executive management regarding state and federal securities laws and regulations, legal and market terms for alternative investments, policies and procedures related to ERS investments, procurement and contracts, ethics, and other legal and regulatory issues.
• Assists in reviewing and responding to and providing advice regarding public requests for investment-related information.
• Assists in developing, writing, and implementing investment policies and procedures.
• Participates in internal investment committee meetings and attends Investment Advisory Committee and ERS Board of Trustees meetings as needed.
• Reviews, interprets, and analyzes pending legislation.
• Drafts rules and related documents for presentation to the ERS Board of Trustees and submission to the Texas Register.
• Conducts research and provides advice regarding general legal questions presented to the Office of the General Counsel on a variety of topics.

As a General Counsel IV, Performs the above duties in a highly advanced (senior-level) manner. Greater skill and responsibilities with higher performance standards will be expected.

PLEASE NOTE: All applications should contain complete job history entries, which includes job title, dates of employment, name of employer, supervisor's name and phone number and a description of duties performed. If this information is not submitted, your application may be rejected because it is incomplete. Resumes do not take the place of this required information.

Other Information:  ERS operates in a hybrid work environment, with flexible work schedules available to all employees.  This position may require access to privileged, confidential, or sensitive data.  ERS will conduct either a TXDPS or FBI criminal history check on all new hires.  For more information about this policy inquiries can be made to employment@ers.texas.gov.

Military Occupational Specialty Codes:

Veterans, Reservists or Guardsmen with experience in the Military Occupational Specialty (https://hr.sao.texas.gov/Compensation/MilitaryCrosswalk/MOSC_Legal.pdf) along with the minimum qualifications listed above may meet the minimum requirements and are highly encouraged to apply.  Please contact Human Resources at employment@ers.texas.gov  with questions or for additional information.

Requirements

Required Minimum Qualifications:  Your application for employment must reflect how you meet each of the following minimum qualifications:

1. Graduation from an accredited law school with a juris doctorate degree, and (1) a license to practice law in the State of Texas and an active membership with the State Bar of Texas that is in good standing or (2) an active law license that is in good standing in another state and a pending application for membership in the State Bar of Texas. Selected candidate would be required to obtain membership within 9 months of hire.
2. For Attorney III: Two (2) years of experience in the practice of law, including demonstrable experience in securities, corporate, general transactional and/or finance-related law as well as experience drafting, interpreting, reviewing and negotiating contracts and other legal documents.
   • To qualify for Attorney IV:  Ten (10) years or more of experience in the practice of law, including substantial experience in securities, corporate, or finance-related law and substantial experience drafting, interpreting, reviewing and negotiating contracts and other legal documents.
3. Two (2) years of experience analyzing and solving legal problems and interpreting, drafting, and analyzing state and federal laws and regulations

Preferred Qualifications:  Your application for employment should reflect how you meet the following preferred qualifications:

4.  Knowledge of constitutional and statutory authority and procurement laws and regulations related to Texas state agencies.

5.  Experience researching complicated legal issues and drafting memoranda and opinions analyzing and explaining them.

6.  Extensive experience in the use of a personal computer for drafting documents (Microsoft Word) and email correspondence.

7.  Experience drafting, negotiating, and reviewing complex contracts and related documents in connection with asset acquisitions and dispositions, financing transactions, and/or private equity, real estate, and/or hedge fund investments.

8.  Experience with deferred compensation plans and other matters relevant to providing legal advice regarding the administration of the Texa$aver 401(k)/457 Program.

9.  Experience addressing an audience, providing training, and dealing with the public.