Legal Counsel (Funds & Regulatory)
About The Position
Pagaya is a global technology-driven asset manager specializing in applying machine learning and big data analytics to alternative asset classes, including consumer credit. We manage over $1.8 billion in assets on behalf of institutional investors around the world.
As a Funds & Regulatory Counsel, you will provide the highest quality regulatory and compliance advice to all parts of the business. You will focus primarily on Israeli and Cayman private funds. 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 the Israeli funds business and provides business-oriented solutions to complex legal problems in uncertain regulatory frameworks. As the company’s regulatory and compliance (funds) lawyer in Israel, you will analyze Pagaya’s current and future partnerships/programs and data use to determine the best scalable long-term frameworks to pursue and work with the management team to determine the optimal strategy.
To be successful in our Funds & Regulatory Counsel role, we’re looking for someone who is passionate about innovative solutions that drive business growth in complex regulatory regimes and Israeli fund 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 NYC) and will be located in Tel-Aviv.
● Lead Israeli and Cayman fund compliance, including developing and implementing compliance policies and procedures and compliance monitoring program in Israel
● Manage the operation of existing Israeli and Cayman funds and compliance program; oversee and assist in the preparation of regulatory filings, portfolio compliance, AML, information security and compliance testing/monitoring
● Review Israeli investor communications, marketing materials and fund documentation; guide and assist with preparation for audits and regulatory matters
● Draft and negotiate distribution or placement agent agreements and training programs, providing insight and guidance from a regulatory perspective
● Serve as the internal expert on regulatory and Israeli/Cayman funds questions
● 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 Israel
● 4+ years experience in a US law firm and/or in-house, though right candidate could have significantly more experience
● Excellent oral argument and ability to work well with internal and external clients
● Native/Fluent Hebrew & English (written and spoken)
● Experience in Israeli private funds and compliance, including formation, regulation and compliance
● Expertise in the Israeli investment management industry and Israeli and international securities laws applicable to private funds, including the Securities Law and Joint Investment Trust Law
● Experience in general Israeli corporate matters
● Experience navigating regulatory, compliance, operational and technical constraints, asking the right questions and finding the answers
● Exceptional business judgement that accounts for risk mitigation as well as business practicalities
● Excellent drafting of advice in English and Hebrew with minimal support from external counsel
● 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
● Expertise in the U.S. investment management industry and Israeli and international securities laws applicable to U.S. private funds, including Investment Advisers Act, FINRA rules, Securities Act, Securities Exchange Act, Investment Company Act, Commodity Exchange Act, ERISA, and FINRA rules