We are approximately $2B in asset size. We are exploring possibilities for the addition of inside counsel within the next 3 years. For those who have inside counsel and are willing to share:

Did you obtain someone that was general counsel or someone specialized?
Do you have an approximate salary range for such a position?

Thank you for any input that you might provide.

Well, salary range is obviously going to depend on a lot of factors, so I can't speak to that.

I'm not at a large institution now, but over the years, I think I've found that we were better off partnering with different firms in our city that specialize in different areas for different questions. We got a firm that we usually use for consumer BK, one for commercial, one for contract questions (loan and deposit stuff), general counsel for corporate action/questions, etc.

We have inside counsel and we hired this individual from another organization. They were an Assistant GC but we felt they were ready for the challenge. Our GC manages a team of attorney's who specialize in various areas (We are over $10B in assets).

Our GC sits in on Risk Management, Operations, and Compliance Committees and his attorneys assist with contracts, general and specialized legal questions originating in business units, and consumer compliance. Unless it's related to a potential regulatory finding, they generally do not have a say in AML and risk management.

Salary will vary greatly on the job requirements and location of the role.

Thank you so much for your input. It is greatly appreciated!