Senior Counsel Private Bank Internal Revenue Co...

At PNC, our people are our greatest differentiator and competitive advantage in the markets we serve. We are all united in delivering the best experience for our customers. We work together each day to foster an inclusive workplace culture where all of our employees feel respected, valued and have an opportunity to contribute to the company's success. As a Senior Counsel within PNC Legal's Asset Management Group, you may be based in Pittsburgh, PA, Philadelphia, PA, Birmingham, AL, Cleveland, OH, or the District of Columbia.

• Substantial experience with IRAs, including a demonstrated interest in being the “go-to” person on this subject matter.
• Ability to provide advice to operations and sales personnel regarding applicable law, including the Internal Revenue Code, Employee Retirement Income Security Act of 1974 (ERISA), Department of Labor (DOL) and Treasury regulations, potential prohibited transactions and available exemptions.
• Ability to advise on IRA account opening, administration, beneficiary designations, distributions, inherited IRA issues, transfers incident to divorce, account closing, and related operational questions in partnership with bank and brokerage business partners.
• Strong knowledge of ERISA fiduciary duties, prohibited transaction concepts, plan asset issues, IRA rollover considerations, required disclosures, and related DOL and IRS requirements.
• Strong knowledge of federal and state tax reporting and withholding issues related to distributions from IRAs and qualified plans.
• Experience reviewing and providing pragmatic legal guidance on retirement-related forms, account documentation, powers of attorney, subpoenas and garnishments, beneficiary and estate-related documentation, fee issues, disclosures, client communications, and internal policies and procedures.
• Ability to analyze investment, fiduciary, trust, estate, tax, and operational issues that intersect with IRAs, retirement accounts, and investment management relationships, and to coordinate productively with other Legal colleagues as needed.
• Experience responding to or supporting responses to regulator, audit, compliance, risk, and control inquiries involving retirement accounts, fiduciary activities, investment services, and related operational processes.
• Ability to assist business with customer account administration issues, exception requests, escalations, special projects, development of new products and services, and updates to policies and procedures, job aids, and training.
• Ability and willingness to develop new skills, learn PNC's IRA and retirement business, adapt to change, make connections across different products, services, and lines of business, and continue to grow as deep legal advisor for IRAs, ERISA, and retirement-related matters.
• Excellent judgment and ability to help business partners achieve their goals in a risk appropriate manner

PNC is an in-office company that fosters a supportive culture where employees can thrive and achieve balance. We encourage candidates to connect with their recruiter and hiring manager to understand workplace expectations and ensure the role aligns with their goals.

PNC will not provide sponsorship for employment visas or participate in STEM OPT for this position.

Job Description:

• Performs significant and complex legal work while regularly interacting with management. Oversees legal research, analysis, consultation, and documentation within a framework of legal compliance and risk management.
• Responsible for managing the expense for outside counsel relationships, provides strategic direction on when to leverage outside counsel.
• Works with outside counsel combining their advice with analysis and feedback from internal stakeholders to provide practical guidance.
• Networks with outside organizations to advance legal interests and legal health of the corporation and its industry.

PNC Employees take pride in our reputation and to continue building upon that we expect our employees to be:

• Customer Focused - Knowledgeable of the values and practices that align customer needs and satisfaction as primary considerations in all business decisions and able to leverage that information in creating customized customer solutions.
• Managing Risk - Assessing and effectively managing all of the risks associated with their business objectives and activities to ensure they adhere to and support PNC's Enterprise Risk Management Framework.

Qualifications:
Successful candidates must demonstrate appropriate knowledge, skills, and abilities for a role. Listed below are skills, competencies, work experience, education, and required certifications/licensures needed to be successful in this position.

Preferred Skills:
Legal Compliance, Legal Consulting, Legal Practices, Legal Risk, Regulatory Compliance, Risk Assessments

Competencies:
Business Ethics, Decision Making and Critical Thinking, Effective Communications, Establishing and Maintaining Trust, External Resource Management, Influencing Through Expertise, Legal Analysis, Legal Function, Negotiating, Problem Solving

Work Experience:
Roles at this level require a Juris Doctorate (J.D.) degree from an accredited law school and licensed to practice law in at least one jurisdiction. Industry-relevant experience is typically 8+ years.

Education:
JD (Required)

Certifications:
Active State License - Multiple Issuers

Licenses:
No Required License(s)