Legal Counsel in Melbourne

Legal Counsel job description

The Legal Counsel provides expert legal advice and support across a range of financial services activities, ensuring the organisation operates within its legal and regulatory obligations. The Legal Counsel works closely with internal stakeholders to manage legal risk and support commercial decision-making.

Legal Counsel job duties and responsibilities of the job

Key responsibilities of a Legal Counsel in the financial services sector include:

Providing legal advice on regulatory, contractual, and operational matters

Drafting, reviewing, and negotiating a broad range of commercial agreements

Supporting compliance with ASIC, APRA, AML/CTF, and other regulatory requirements

Advising on legal aspects of new product development and marketing initiatives

Assisting in the resolution of disputes and litigation management

Monitoring legal developments and advising on business implications

Supporting corporate governance, including company secretariat functions where required

Collaborating with compliance, risk, and business teams to manage legal risk

Maintaining legal documentation and assisting with internal policy development

Typical Legal Counsel job qualifications and requirements

A law degree and current legal practising certificate are required. Experience in a financial services legal role is essential, with a strong understanding of relevant regulations and commercial law.

Admission as a solicitor or barrister in the relevant jurisdiction

Demonstrated experience in financial services law and regulatory compliance

Strong drafting and contract negotiation skills

Working knowledge of ASIC, APRA, and AML/CTF frameworks

Effective communication and stakeholder management skills

Experience advising on the Corporations Act, NCCP, Privacy Act, and breach reporting obligations

Ability to manage relationships with and oversight of external legal counsel

Understanding of governance frameworks and experience preparing or reviewing board-level documentation

Familiarity with emerging regulatory reforms such as the Financial Accountability Regime (FAR) and Design and Distribution Obligations (DDO)

Exposure to dispute resolution, litigation management, or regulatory investigations

Knowledge of Australian financial services and credit licensing requirements (AFSL/ACL)

Ability to interpret complex legal issues for non-legal stakeholders

Commercial awareness and risk-based legal judgment

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Salary for Legal Counsel in Melbourne

110250 - 172725

25th Percentile

110250

The candidate has little or no prior experience in the position and is still developing relevant skills.

50th Percentile

135450

The candidate has an average level of experience and has most of the necessary skills.

75th Percentile

172725

The candidate has above-average experience, has most or all the necessary skills and may have specialised qualifications.

Salary range based on three percentiles The starting salaries represent gross yearly salaries. They do not include bonuses, benefits or superannuation.

Projected salaries for related positions

Position title

25th Percentile

50th Percentile

75th Percentile

Junior Legal Counsel

80850

95025

110775

Senior Legal Counsel

151200

194250

233100

Head of Legal

231000

262500

325500

General Counsel

260925

326025

434700

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