DESCRIPTION
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Under general supervision, provides investment legal advice to the Alameda County Employee’s Retirement Association (“ACERA”) Legal Department and senior management on investments and securities class action litigation matters, and to do related work as required.
DISTINGUISHING FEATURES
The Senior Investment Counsel, ACERA is a single position classification located in the Legal Department within ACERA and reports to the Chief Counsel, ACERA. The employee is responsible for providing legal assistance and advice on all aspects of ACERA investments. The Senior Investment Counsel, ACERA, represents ACERA on complex fund investments, manages securities class action litigation, manages related claims filing, works on special investments assignments, and represents as Legal Investment Counsel at Board and Committee meetings as directed by Chief Counsel, ACERA.
The Senior Investment Counsel, ACERA differs from the classification of Chief Counsel, ACERA in that the latter performs a broader scope of duties that includes supervising day-to-day legal unit, along with providing direct legal assistance and advice to the Chief Executive Officer, ACERA, and to the Board of Retirement, while the former provides strictly legal advice on investment operations.
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EXAMPLES OF DUTIES
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NOTE: The following are typical duties performed by the employee in this classification. The employee may not necessarily perform all duties listed, however, they may perform other related duties at an equivalent level.
- Works on ACERA investment programs, including global equity, global fixed income, private equity, real assets, real estate, private credit, absolute return, securities litigation, compliance, and ethics-related matters.
- Works closely with investment staff and outside counsel in the negotiation of complex investment agreements, including agreements for private funds, co-investments, continuation funds, collective investment trusts, fund-of-funds, and investment manager agreements; advise staff on legal issues relating to transactions.
- Negotiates non-disclosure agreements with prospective investment sponsors.
- Monitors and assesses securities class action litigation involving ACERA’s investment holdings and coordinates with securities litigation monitoring firms to evaluate ACERA’s legal position.
- Manages global custody arrangements to ensure securities and tax compliance in foreign jurisdictions.
- Performs legal due diligence for alternative investments, including reviewing offering documents, completing subscription documents, negotiating side letters and MFN elections, and working on anti-money laundering and “know your customer” documents.
- Performs Legal review of private fund governance matters (e.g., Limited Partnership Agreement consents and Limited Partnership Agreement amendments).
- Researches and provides legal advice to investment staff and senior management relating to investment and securities litigation matters.
- Ensures compliance with state and federal laws and rules applicable to ACERA investments.
- Prepares communications, memos, and legal opinions to the Chief Investment Officer, ACERA, Chief Counsel, ACERA, Chief Executive Officer, ACERA, The Board of Retirement, and Investment Staff at ACERA.
- Directs outside investment counsel’s work and budgets regarding investment operations.
- Advises management and staff on complex and sensitive legal issues pertaining to investment-related requests for proposals.
- Handles investment-related public records act requests and works with communications staff on ACERA responses to investment-related media inquiries.
- May provide guidance and oversight to the Associate Counsel on an as-needed basis on Investment Legal operations.
- May act in the absence of Chief Counsel, ACERA.
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MINIMUM QUALIFICATIONS
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Education:
Graduation from an ABA-accredited law school.
AND
Experience:
The equivalent of five (5) years full-time increasingly responsible experience as an attorney in the practice of civil law in private markets, working with asset managers, or working with institutional investors.
License:
Current Membership in the California State Bar.
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KNOWLEDGE AND SKILLS
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NOTE: The level and scope of the following knowledge and abilities are related to duties listed under “Examples of Duties” section of this specification.
Knowledge of:
- California Public Pension Law, including the 1937 Act.
- The Brown Act and California Public Records Act.
- Principles and practices of public administration and governance.
- Contracts, public pensions, trusts, investments, securities, and corporate governance.
- Legal research methods and tools, including online databases.
- Legal writing, reasoning, and analysis.
- Professional responsibility standards and ethics.
Ability to:
- Plan, organize, and prioritize work assignments to manage a high-volume workload in a fast-paced, changing environment.
- Complete detailed work with a high degree of accuracy.
- Draft, review, negotiate and approve requests for proposals, contracts, and contract-related documents.
- Draft, review, and interpret legal documents and policies.
- Analyze complex legal and policy issues and recommend effective solutions.
- Interpret and apply federal, state, and local laws and regulations affecting public pension systems.
- Communicate clearly, logically, and persuasively with internal and external stakeholders.
- Collaborate effectively with legal and operational staff.
- Exercise sound judgment, tact, and confidentiality.
- Conduct effective legal research and communicate findings clearly.
- Present legal arguments persuasively both orally and in writing.
- Work independently and as part of a team in a dynamic environment.
- Establish and maintain effective working relationships.
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CLASS SPEC HISTORY
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Newspec. 1376.docx
IL:saa 3/5/2026
CSC Date:3/18/2026
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BENEFITS
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The County offers a comprehensive and competitive benefits package that affords wide-ranging health care options to meet the different needs of a diverse workforce and their families. We also sponsor many employee discount, fitness and health screening programs focused on overall wellbeing. These benefits include but are not limited to*:
For your Health & Well-Being
- Medical – HMO & PPO Plans
- Dental – HMO & PPO Plans
- Vision or Vision Reimbursement
- Share the Savings
- Basic Life Insurance
- Supplemental Life Insurance (with optional dependent coverage for eligible employees)
- Accidental Death and Dismemberment Insurance
- County Allowance Credit
- Flexible Spending Accounts - Health FSA, Dependent Care and Adoption Assistance
- Short-Term Disability Insurance
- Long-Term Disability Insurance
- Voluntary Benefits - Accident Insurance, Critical Illness, Long-Term Care, Hospital Indemnity and Legal Services
- Employee Assistance Program
For your Financial Future
- Retirement Plan - (Defined Benefit Pension Plan)
- Deferred Compensation Plan (457 Plan or Roth Plan)
For your Work/Life Balance
- 12 paid holidays
- Floating Holidays
- Vacation and sick leave accrual
- Vacation purchase program
- Management Paid Leave**
- Catastrophic Sick Leave
- Pet Insurance
- Commuter Benefits Program
- Guaranteed Ride Home
- Employee Wellness Program (e.g. At Work Fitness, Incentive Based Programs, Gym Membership Discounts)
- Employee Discount Program (e.g. theme parks, cell phone, etc.)
- Child Care Resources
- 1st United Credit Union
*Eligibility is determined by Alameda County and offerings may vary by collective bargaining agreement. This provides a summary of the benefits offered and can be subject to change.
**Employees in management-designated classifications may be entitled to management paid leave. Refer to the applicable MOU or Salary Ordinance for more information.
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