COMPANY OVERVIEW:
Masterworks is a fintech platform that allows anyone to invest in shares of SEC-qualified blue-chip paintings by names like Banksy, Monet, and Picasso. So far, we have raised over $400M across 100+ paintings from more than 350,000 users. This year, we expect to buy more than $1 billion in art, making us the largest buyer in the art market.
The business has more than 180 employees, and has been featured in major media publications such as The NY Times, CNBC, CNN, WSJ, and more. After becoming profitable in early 2020, just three years after being founded, Masterworks raised $110M in its Series A round with a valuation of over $1 billion.
With the exception of our tech team, all employees work in our offices at Brookfield Place in the Financial District of New York City.
POSITION OVERVIEW:
The Associate General Counsel will be a key member of the legal and compliance team, responsible for a variety of legal and regulatory matters associated with Masterworks' securities offerings. Several aspects of the company's business model are novel, requiring a thoughtful, creative and pragmatic approach to legal and compliance matters. Masterworks currently executes more Regulation A offerings and has more active Regulation A reporting entities than any other platform or sponsor. We recently launched our first Rule 506(c) offering and as our business grows and our distribution expands beyond self-directed retail investors, we expect to create a variety of public and private financial products.
RESPONSIBILITIES:
The Associate General Counsel will work collaboratively with the General Counsel and the financial operation team, to assist with a variety of legal activities, with an emphasis on securities offerings and compliance with applicable securities laws. This is a fast-paced high-growth environment in which decisions are made rapidly. The successful candidate will be sharp, highly organized and adept at creative problem solving in a manner that does not unduly hinder the company's business objectives. This is not a remote position and the successful candidate will work at our corporate offices at 225 Liberty Street in Lower Manhattan.
We are looking for a seasoned securities lawyer, familiar with a wide variety of legal and regulatory issues relevant to public and private financing transactions. Specific areas of responsibility may include:
Corporate Finance and Securities Law. The successful candidate will be responsible for a wide range of securities law and corporate financing matters in support of our securitization activities, including preparation of offering materials for new and existing financial products, public and private securities law issues, ongoing SEC reporting pursuant to Regulation A, the ‘34 Act and, potentially, the ‘40 Act.
Disclosure and Ancillary Materials. Securities law review and oversight of ancillary marketing materials and public communications, including decks, investor presentations, advertising, podcast content, website materials, social media posts and related communications which may constitute offers, solicitations or recommendations under applicable securities laws and SRO rules.
Compliance. Assisting in the development, refinement and implementation of controls, policies and procedures designed to comply with applicable securities laws, as well as coordinating responses to regulatory inquiries and examinations.
Governance and Risk Management. Assistance with corporate governance for the parent company and affiliates, including investment vehicles. Development and implementation of governance and risk management processes, policies and procedures throughout the organization.
Special Projects. Legal support on corporate transactions, including parent level debt and equity financings, complex commercial arrangements, secondary securities transactions.
EXPERIENCE & SKILL SETS:
5 -10 years post-law school experience, including 2+ years at a nationally recognized law firm.
‘33 Act and ‘34 Act experience required. Experience with fund formation, ‘40 Act and Advisers Act strongly preferred.
Substantive in-house experience at a financial services or fintech firm strongly preferred.
Familiarity with broker-dealer regulation (i.e. FINRA Rules) and SEC rules and guidance governing RIA activities strongly preferred.
Adept at using software and technology to organize workflow and processes.
J.D.; admitted to the NYS Bar in good standing.
A business-minded professional, who is capable of balancing legal and compliance with business objectives.
High academic achievement, attention to detail, analytical, practical commercial orientation, excellent written and verbal communication skills.
ADDITIONAL REQUIREMENTS:
COMPENSATION: