TSS Senior Lead Attorney

New York, New York, United States

Ref#: POS-3234

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Electronic trading platforms have transformed the world’s securities market structures.  Two Sigma Securities, LLC (TSS) is dedicated to understanding market microstructure, executing trades and making markets more efficient by way of systematic precision and scientific rigor.

Founded in 2009, TSS is a broker-dealer registered with the SEC, a member of the major U.S. equity exchanges and a registered market maker in over 7,000 U.S. exchange-listed equities. Our high-performance, proprietary platform regularly facilitates the execution of more than 300 million shares per day. We apply leading-edge technology to the data-rich world of finance. Our disciplined, process-driven, systematic approach harnesses technical engineering, risk management and execution measurement to enable us to be a leader in the wholesale market making space.

TSS is an affiliate of Two Sigma Investments, LP, a technology company dedicated to finding value in the world's data.  Since its founding in 2001, Two Sigma has built an innovative platform that combines extraordinary computing power, vast amounts of information and advanced data science to produce breakthroughs in investment management, insurance and related fields.  Today, Two Sigma manages approximately $50 billion in assets, employs more than 1,300 people and has offices in New York, Hong Kong, Houston, London and Tokyo.  For more information, please visit www.twosigma.com.

We are seeking a talented attorney to join, and manage day-to-day, both of TSS’s Legal and Compliance teams, so that we can continue to develop a strong, proactive, efficient and effective legal and compliance infrastructure that supports TSS’s growing business.  In short, we are looking for a seasoned legal and compliance professional who is both business and control-minded, who can help the TSS team navigate the ever-changing brokerage landscape and who can help get the Firm to the next level.  In this role, you will report to Two Sigma’s General Counsel and support TSS’s various broker-dealer business and regulatory initiatives.  Responsibilities will include:

  • assisting key business, technical (engineering, modeling) and legal and compliance stakeholders with business expansions and day-to-day activities by recommending appropriate business and legal/compliance structures;
  • providing well-researched guidance on compliance with rules and regulations applicable to the global trading of equities, futures and options, drawing from industry best practices and regulatory actions;
  • researching emerging and evolving areas of broker-dealer law and regulation, relating to securities, compliance obligations and regulatory examinations;
  • negotiating, drafting, developing and maintaining contracts with clients, counterparties, data providers and software vendors;
  • cultivating key client relationships, both during the on-boarding process and after;
  • drafting necessary disclosures and reviewing marketing materials;
  • supporting the broker-dealer’s trading desks on day-to-day regulatory and trading matters;
  • drafting and reviewing TSS responses to regulatory inquiries and requests; and
  • keeping abreast of industry developments and legal issues related to the broker-dealer’s various business lines.

Experience

  • You have 20+ years of professional experience overall and 10+ years of direct, senior-level experience within the broker/dealer industry.
  • You have an extensive technical understanding of regulations governing U.S. broker/dealers, exchanges and other market participants, with a particular focus on electronic trading and related interactions.
  • You are experienced negotiating client, trading, counterparty, data, vendor and other related agreements with a deep understanding of the legal, regulatory, compliance and IP considerations associated with such agreements.
  • You are looking for the challenges associated with working at a rapidly growing and evolving organization, one that has recently expanded through corporate acquisitions and several new senior leadership hires.

Professional Requirements Include:

  • Experience as an associate, counsel or partner at a top tier U.S. law firm, in the legal department of a major financial services company, or at relevant federal regulatory agencies and/or self-governing regulatory organizations.
  • Sterling academic record with a BA/BS degree from a top tier university; a JD from a top tier law school is also required.
  • Significant experience with securities and other financial laws including with Securities Act of 1933, Securities Exchange Act of 1934, Commodity Exchange Act, FINRA and exchange rules and other related U.S. and non-U.S. securities and other financial instrument-related statutes.
  • Exceptional communication skills; the ability to simplify (and crisply communicate) complex regulatory issues and guidelines into easy-to-digest concepts.
  • Exceptional managerial skills; the ability to inspire confidence, calm and great work amongst the existing team of one (1) lawyer and five (5) compliance professionals.
  • Significant experience drafting and coordinating responses to regulatory audits and/or inquiries.
  • Efficient and self-motivated multi-tasker with sharp attention to detail; someone who believes in “pride in craft”.
  • Ability to work hard, work effectively as part of a team and have fun; a good sense of humor is a must.