State of Connecticut Executive Branch

Principal Investment Counsel (3813VR)

$0.01-$478.93 Hourly / $0.00-$0.00 BiWeekly /
$1.00-$999,999.00 Yearly

PURPOSE OF JOB CLASS (NATURE OF WORK)

In the Office of the State Treasurer this class is accountable for rendering advice and counsel on the portfolio of the state’s trust and other funds, investment transactions, and investment programs and investigating merit of any security or group of securities related to the management of the Connecticut Retirement Plans and Trust Funds (CRPTF).

SUPERVISION RECEIVED

Receives administrative direction from a higher-level administrator.

SUPERVISION EXERCISED

May supervise legal staff, attorneys, and other staff as assigned.

EXAMPLES OF DUTIES

  • Reviews, structures, and negotiates investment transactions, including limited partnership agreements, side letters, separately managed accounts, consultant contracts, derivative documentation, funds of one, consents, amendments, and related documents for the investment programs related to the management of the CRPTF;
  • Oversees the securities monitoring program, including coordination with outside counsel to monitor for new opportunities for recovery of investment losses and foreign tax reclamation as well as opportunities to file claims in settled class actions;
  • Works with outside counsel to review and recommend securities litigation and evaluate, where warranted in both U.S and foreign jurisdictions, whether the CRPTF should move to become lead plaintiff;
  • Prepares or supervises the preparation of quarterly reporting and individual case recommendations;
  • Consults with the Office of the Attorney General on legal issues;
  • Provides legal guidance when duly authorized; 
  • Drafts, reviews, and negotiates complex agreements, and advises business partners regarding laws and regulations regulating private funds and investments, researching and advising on financial law issues; 
  • May provide counsel regarding securities law and securities litigation impacts on environmental, social, and governance matters; 
  • May provide legal advice and assistance where the incumbent’s expertise or institutional knowledge is required to assist with procurement, compliance, or agency management matters;
  • May provide continuing legal education to fellow attorneys and general securities law training; 
  • Performs related duties as required.

KNOWLEDGE, SKILL AND ABILITY

  • Knowledge of
    • securities analysis, capital markets, public markets, and private markets investment practices;
    • investment procedures and terminology;
    • legal principles, practices and procedures in Connecticut;
    • the Uniform Administrative Procedures Act;
    • and understanding of legal and contractual agreements; 
    • and understanding of corporate governance initiatives;
    • and ability to interpret and apply relevant state and federal laws, statutes, regulations and legislation;
    • SEC, FINRA, MSRB, and CFTC regulation and compliance; 
  • Considerable
    • interpersonal skills; 
    • oral and written communication skills; 
  • Considerable ability to
    • utilize computer software;
    • interpret legal documents;
    • apply judicial decisions to the interpretation of statutes;
    • comprehend, analyze and organize technical data and coordinate elements of legal cases.

MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

Ten (10) years of experience in the practice of law.  

SPECIAL REQUIREMENTS

Incumbents in this class must be admitted to practice law in the State of Connecticut.

APPOINTMENT

In accordance with Section 3-13a of the Connecticut General Statutes. 

COMPENSATION GUIDELINES

Compensation for this class shall be determined by the Treasurer within salary ranges established by the Treasurer in consultation with the Investment Advisory Council. 

JOB CLASS DESIGNATION

Unclassified

OCCUPATIONAL GROUP

(1)-Accounting/Auditing

BARGAINING UNIT

(1)-EXEMPT/ELEC/APPOINT

EEO

(1)-Officials and Administrators

SALARY INFORMATION

VR 99

ACKNOWLEDGEMENT

As defined by Sec. 5-196 of the Connecticut General Statutes, a job class is a position or group of positions that share general characteristics and are categorized under a single title for administrative purposes.  As such, a job class is not meant to be all-inclusive of every task and/or responsibility.

CANCELLATION CLAUSE

New Class. Item No. 23-311R

EFFECTIVE DATE

07/01/2023
CLASS: 3813VR; EST: 7/1/2023; REV: 3/4/2024;