Compliance and Funds Counsel
About The Position
Pagaya is a leading next-generation asset management firm founded in 2015. Combining advanced technology and financial expertise, we use artificial intelligence and state-of-the-art algorithms to uncover exceptional, low-risk high-yield opportunities in alternative credit for investors. Pagaya actively invests in US consumer credit assets.
The Pagaya team is comprised of over 100 professionals in New York and Tel Aviv with expertise in artificial intelligence, data rich alternative assets and asset management. The team manages over $1.7 billion in assets on behalf of institutional investors around the world.
Pagaya just completed its Series D financing of over $100M led by a prominent sovereign wealth fund.
As a Compliance and Funds Counsel, you drive compliance throughout the company and provide the highest quality support to the funds business, both in formation and operation. We are looking for a smart, motivated, self-starter to join our growing global legal team in a rapidly growing company.
The ideal candidate is a practical, detail-oriented lawyer who is responsible for compliance, the funds business,creating new funds, enabling the operation of existing funds and developing, implementing and monitoring compliance programs, working with all teams within the company.
To be successful in our Compliance and Funds Counsel role, we’re looking for someone who is passionate about business growth and the practicalities of compliance. We want a candidate who is excited by the challenge of working in a legally complex global fintech company and who welcomes the dynamic environment that comes with a growing company. This role will engage with all levels of employees and management, so social and communication skills are vital to strong working relationships.
The role reports to the Head of Legal & Chief Compliance Officer (based in New York) and will be located in New York.
- Preparing for SEC registration, including leading, developing and implementing compliance policies and procedures and compliance monitoring program
- Lead private fund formation/launches as company expands into new consumer credit asset classes
- Working closely with the CCO to manage the operation of existing funds and compliance program; oversee and assist in the preparation of regulatory filings, portfolio compliance, Code of Ethics oversight, AML, information security and compliance testing/monitoring
- Review investor communications, marketing materials and fund documentation; assist with preparation for audits and regulatory matters
- Manage compliance training program, conducting training sessions and design, lead and complete multi-disciplinary projects; interact with and provide advisory compliance support to investor relations, business development and operational professionals
- Monitor ongoing legal and regulatory developments; implement new compliance initiatives as law, compliance and business circumstances evolve
- Assist Head of Legal and Chief Compliance Officer in building a global legal department, developing and enhancing its service culture and meeting the needs of the business
- Provide any other legal or non-legal support that the business requires
- Qualified attorney in the United States (preferably NY or CA)
- 3+ years experience in US law firm and/or in-house, though right candidate could have significantly more experience
- Experience in US advised private funds, including formation, regulation and compliance
- Expertise in the investment management industry and U.S. and international securities laws applicable to private funds, including Investment Advisers Act, FINRA rules, Securities Act, Securities Exchange Act, Investment Company Act, Commodity Exchange Act, ERISA, and FINRA rules
- Excellent drafting of advice, disclosure and contracts in English with minimal support from external counsel
- Must be a highly organized and proactive, able to work independently on several projects while maintaining an appropriate level of transparency with the CCO and escalating matters as necessary
- The ability and flexibility to work long and flexible hours based on the company’s needs
- Excellent judgment and initiative in developing creative, practical and effective solutions, using a business-first approach
- JD or LLM from accredited US law school
- Experience in consumer credit, asset management, fintech or artificial intelligence
- Experience in Israeli funds regulation and compliance
- Experience in US consumer credit/lending legal and regulatory regimes, including FCRA, GLBA, TILA, DPPA, UDAAP, UDAP, ECOA, HMDA and RESPA