Legal Counsel, Betterment

Product & Regulatory

$150-165k

+ Equity

Mid and Senior level
New York

More information about location

3 days a week in office

Betterment

Banking and investment app

Job no longer available

Betterment

Banking and investment app

501-1000 employees

FintechB2CCryptocurrencyBankingFinancial ServicesMobile

Job no longer available

$150-165k

+ Equity

Mid and Senior level
New York

More information about location

3 days a week in office

501-1000 employees

FintechB2CCryptocurrencyBankingFinancial ServicesMobile

Company mission

To make people’s lives better.

Role

Who you are

  • A JD, admission to a state bar, and at least 4 years of relevant in-house or firm experience
  • An adaptable mindset and innate curiosity
  • A bias toward action and solving problems, not just issue spotting
  • The ability to take ownership over your work and manage projects independently
  • Excellent writing ability
  • Comfort navigating complexity and creating simplicity where possible
  • Passion for Betterment’s product and mission

Desirable

  • Knowledge of the Advisers Act and related regulations
  • Knowledge of ERISA and related regulations
  • Knowledge of crypto and related regulatory environment
  • A background in negotiating commercial agreements
  • Familiarity with privacy and/or information security issues
  • Experience in retail financial services
  • In-house experience at a startup or high growth company

What the job involves

  • Navigate legal and regulatory requirements, operational issues, and related matters
  • Support Betterment at Work, our 401(k) business line, as it scales
  • Support Betterment for Advisors, our third-party advisor custodian business line, as it scales
  • Evaluate and advise on legal issues pertaining to our retirement plan programs, including ERISA
  • Negotiate complex commercial agreements and advise our client success and sales teams
  • Build and improve our standard form agreements and legal processes
  • Assist our product organization in developing and implementing new features and products, including drafting customer agreements, disclosures, and related documentation
  • Help to resolve and avoid potential disputes
  • Collaborate with outside counsel when necessary

Application process

  • We’ll take a few weeks to review all applications. If we’d like to spend more time with you, we’ll reach out to arrange next steps, which will include 3-4 sets of meetings with your future colleagues
  • In the interview process, we’ll look to learn more about your skills, experiences, capabilities, and motivators. Many of our questions will be aimed at understanding how you might operate here at Betterment
  • Depending on the role, we may ask you to complete a case study exercise or technical assessments, as we want to collect a robust set of data points to better inform our decisions
  • On average, it takes us around 3-5 weeks to make a hiring decision, depending on your availability and sense of urgency
  • As a best practice, we aim to interview at least 2-3 final round candidates before making a hiring decision
  • Please note that, as we usually receive an overwhelming number of applications for open positions, we’re unable to offer individual feedback during the interview process

Otta's take

Theo Margolius headshot

Theo Margolius

COO of Otta

Betterment is an app-based investment platform that provides personal finance data and guidance to retail users through a range of real-world data and AI analytics to deliver investment advice to customers.

The company has become the largest independent digital investment advisor in the U.S. Having expanded its 401k business, Betterment has entered the world of Crypto, partnering with Gemini to offer customized crypto portfolios and its "Crypto Investing by Betterment" platform.

Betterment has a wealth of competition in this increasingly crowded space. Other robo advisors offering similar services include Moneyfarm, Wealth Simple, M1 Finance and Personal Capital. Going forward, Betterment hopes to further distance itself from rivals as it further innovates its platform.

Insights

Top investors

Few candidates hear
back within 2 weeks

-6% employee growth in 12 months

Company

Funding (last 2 of 7 rounds)

Sep 2021

$60m

SERIES F

Jul 2017

$70m

SERIES E

Total funding: $335m

Company benefits

  • Health and wellness: Get comprehensive medical, dental, and vision, plus a free subscription to One Medical.©
  • Generous time off: We encourage you to take time off (seriously) and get the rest you need to do your best work.
  • Paid parental leave: We welcome new additions to your family with 12-18 weeks of parental leave.
  • Matching benefits: We offer a 401(k) match and a match on qualified student loan payments
  • Equity: Gain stake in Betterment’s success with company equity grants.
  • Free food: Snacks, beverages, and catered lunches at our NYC HQ
  • Long-term health resources: We provide LGBTQIA+ transition and fertility support.
  • Find your community: Make connections through seven employee affinity groups and a social calendar of hybrid events.

Company values

  • Pursue happiness
  • Start with the customer
  • Build relationships beyond the task
  • Own it and lead it
  • Iterate to breakthrough
  • Embrace efficiency
  • Create enduring quality

Company HQ

Flatiron District, New York, NY

Founders

Jonathan Stein

(Board Member)

After studying Economics at Harvard, Jonathan worked as a Consultant at First Manhattan Consulting Group for over 4 years. He founded Betterment in 2007, serving as CEO until 2020 when he stepped down to Chairman of the Board.

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