Associate General Counsel/Investment Compliance Officer
Reports to the General Counsel / Chief Compliance Officer
Application Deadline: April 28, 2023
Responsibilities
The Associate General Counsel/Investment Compliance Officer is responsible for general legal and investment compliance issues relating to ISBI’s operations, and has the following specific responsibilities, which shall include, but not be limited to:
• Support the General Counsel in managing the legal affairs of ISBI as well as all compliance matters.
• Act as primary contact and assist the Ethics Officer and Board Fiduciary Counsel in monitoring compliance of Board and Staff members in accordance with ISBI policies and Illinois law.
• In conjunction with the General Counsel and investment staff, develop and recommend the policies and guidelines for diversity-related initiatives. Monitor and prepare reporting to ensure compliance with the Board’s policies and objectives. Responsible for all reporting including annual legislative reporting and ad hoc reporting requests.
• Provide legal support in the development, implementation, and maintenance of ISBI policies and control procedures as necessary and designated by the Chief Operating Officer / Chief Financial Officer (“COO / CFO”).
• In cooperation with the General Counsel, develop and coordinate the Agency Directives Manual. Work cooperatively with COO / CFO to ensure compliance with Board budgetary and fiscal policies.
• Manages the stewardship activities on behalf of ISBI including developing policies, strategies, and operational processes that effectuate fiduciarily prudent compliance with the Illinois Sustainable Investing Act and other relevant legislation. Assist in researching, evaluating, and helping integrate sustainability factors including environmental, social, and governance factors legislation accordance with Board policies.
• Act as primary liaison with proxy voting service provider and manage ISBI’s proxy voting guidelines.
• Monitor all Board contracts (Administrative / operational contracts, investment manager agreements, review all contract amendments, monitor compliance with mandates and manager benchmark guidelines). Monitor and prepare periodic reports on compliance with the Board’s investment policy guidelines and proxy voting guidelines.
• Under direction of the General Counsel is responsible for operational support for the Board, including, but not limited to, posting of meeting notices, development and distributions of Board materials, and preparation of Board and Committee meeting minutes. Also responsive for composing minutes of Executive Session meetings of the Board and Committee in a manner that ensures confidentiality and the integrity of the information in compliance with the Illinois Open Meetings Act.
• Perform full-time/temporary employee search management process including job posting execution, recruiting firm relationship management (if applicable), initial resume review and filtering, candidate interview preparation, and internal party consultations as needed to support the search process.
• Respond to all Freedom of Information Act requests made to ISBI.
• Monitor class action / shareholder securities litigation. Recommend guidelines in working with Illinois Attorney General’s office and outside counsel in such matters.
• Address custodial reporting relating to international power of attorney and support COO / CFO with tax reclamations, powers and proxy matters as needed.
• Obtain knowledge about the role and functions of the General Counsel and Chief Compliance Officer for purposes of planned and unplanned succession.
• Perform other duties as required or assigned.
Requirements
• Bachelor’s and Juris Doctorate degree required.
• At least two years of relevant legal experience preferred.
• Valid license to practice law in the State of Illinois preferred.
• Excellent written and oral communication, analytical and research skills.
• Knowledge of Microsoft Word and Excel.
• Ability to work in an office environment subject to frequent interruptions and to communicate with co-workers/third parties via video conference, email, and telephone; involves sitting at a desk for prolonged periods and potential light lifting.
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