Counsel and Chief Compliance Officer- Private Wealth

Along with its affiliate companies, USAA Real Estate invests across the risk spectrum for a global client base, managing over $36 billion in net assets under management within a diversified portfolio across North America and Europe.  USAA Real Estate provides strategic equity and debt capital, including to capitalize on the accelerating demand for technology-driven real estate assets, to meet the critical need for housing solutions, and for other market and capital structure opportunities exhibiting compelling risk-return characteristics.  For more information, visit .

USAA Real Estate is spinning out its private wealth division into a new, disaffiliated company.  Newco will register as both an investment advisor and broker/dealer and will focus on managing and distributing fund of real estate funds primarily through the registered investment advisor and bank trust platforms channels. 

USAA Real Estate is the brand name that applies to its affiliates and subsidiaries, including US Equity Advisors and Square Mile Capital Management, both of which are registered with the U.S. Securities and Exchange Commission as investment advisors. 

Newco is hiring a qualified candidate to serve as both Counsel and Compliance Officer for Newco.  The ideal candidate will have 10+ years’ experience in the financial services industry or at a law firm.  The selected candidate will work with other senior leaders in the business and outside counsel to establish the business and be part of its growth going forward.  This individual will report to the firm’s principals and will work closely with senior leaders and the firm's business units.  The selected candidate will also work with various teams at USAA Real Estate, including legal, finance, and marketing, to support Newco’s business, as well support Newco’s distribution of its affiliate, affiliate, IDR Investment Management’s real estate index funds through private wealth channels.

It is strongly preferred that this role be based out of either the New York, San Antonio, Cleveland, or Phoenix office. There is a possibility of a remote or hybrid work arrangement, with regular visits to Newco’s various locations.

Essential Duties

• Be a key part of the leadership team, offering advice to the firm’s principals from a legal, regulatory, and complialnce perspective;
• Work with senior leaders and outside counsel to register Newco as an investment advisor and broker/dealer, and be responsible for all ongoing and annual regulatory updates and filings;
• Work with senior leaders and outside counsel to register Newco’s fund of funds on Form N-2 and be responsible for ongoing legal work related to the funds, including annual update of fund registration statements, shareholder reports, and other regulatory fund updates and filings;
• Provide advice, direction and guidance on all legal and compliance aspects of the business, including assessing proposed regulations for impact to the business and develop and implement policies and procedures to address relevant changes;
• Work with senior leaders to manage fund and corporate board and committee meetings, including agenda setting, board materials, and minutes;
• Draft, negotiate, and review various types of agreements, including participation, distribution and services agreements and vendor contracts for services supporting the firm and its funds;
• Serve as Advisor Chief Compliance Officer, develop policies and procedures, and manage a compliance monitoring program, conduct testing, and issue an annual compliance report;
• Implement and oversee the Firms’ Code of Conduct and Ethics, including its personal trading policy;
• Review marketing and sales materials, DDQs, and other intermediary related documents to ensure consistency and compliance with applicable laws and regulations;
• Lead regulatory inspections, examinations and reviews;
• Serve as Chief Compliance Officer for the limited purpose broker/dealer, and oversee its compliance program and regulatory filings, including implementation of written supervisory procedures, policies, training, annual testing, and AML/OFAC compliance and the firm’s FINRA Gateway filings (i.e. Forms BR, BD, U4s, U5); and
• Manage and oversee Newco’s legal budget and outside counsel.
• Perform other essential duties as assigned.

Why Work for Us

Newco is a dynamic, growing, forward-thinking company.  We offer a competitive and flexible benefits package designed to empower you for today and tomorrow.

Newco is committed to building a diverse and inclusive workplace where everyone feels valued. As an Equal Opportunity Employer, our policy is to provide equal employment opportunities to all employees and applicants without regard to any status that is protected by law and we are focused on advancing women, racial and ethnic minorities, veterans, and individuals with disabilities.

• Law degree from an accredited institution;
• License to practice law and a member of good standing;
• 15-20 years of legal or compliance experience with a minimum of 10+ years of investment management experience;
• Ability to think strategically with sharp analytical skills and strong attention to detail and accuracy;
• Ability to work independently, and within a geographically dispersed team while running multiple sophisticated projects;
• Ability to identify and solve sophisticated issues in a team environment working with various levels of management and business partners;
• Experience with writing, maintaining, and revising policies and procedures;
• Experience with implementing control enhancements and operational efficiencies;
• Advanced communication skills, both verbal and written, with the ability to express oneself clearly and influence effectively, with all levels of an organization; and
• Must be willing to show proof of COVID-19 vaccination (or request and receive an authorized exemption).
• Highly effective organizational, prioritization, and time management skills.

Key Competencies

• Investment management and regulatory experience at law firm or a registered investment advisor;
• Expert knowledge of the rules and regulations associated with the Securities Exchange Commission (SEC), including the Securities Act Of 1933, the Securities Exchange Act of 1934, and the Investment Company and Investment Advisers Acts of 1940;
• Positive attitude and ability to build relationships across the business; and
• Experience working with compliance risk assessments, compliance monitoring and testing programs.