Senior Counsel - Basel & Netting Enforceability Governance, VP

Our client operates in the Financial sector, with its headquarters rooted strongly in the United States. It has its branches spread to more than 160 countries, providing employment to more than 200k people all over the world. They fall in the Top 15 largest Banks in the United States. Its core business is to provide various Banking and Financial services to its clients. It is known to have one of the biggest balance sheet banks in the world (among others) aiding it to offer 360-degree financial services to its clients.

Responsibilities:

• An opportunity has arisen in the Cross Enterprise Legal team for a role in the performance of legal processes related to the review and maintenance of netting and collateral legal opinions relied on our client in its compliance of Basel III requirements for capital adequacy supporting Markets and other ICG businesses.
• The successful candidate will be responsible for the review and approval of legal opinions which are relied on by our client in determining the legal Well-Founded Basis (“WFB”) standard which relates to our client's regulatory capital reporting in relation to derivatives and securities financing transactions. 

Responsibilities will also include:

• Working across legal teams to support and facilitate the commercial objectives in processing requests for opinion reviews and approval of the WFB standard in a timely manner;
• Working with local counsel to understand any nuances and complexities that could prevent a positive determination that WFB standard is met to be able to articulate risk to internal teams;
• Ensuring co-ordination with relevant stakeholders in the completion of any approval of the WFB standard in relation to a legal opinion.
• Person Specification

Requirements:

Knowledge/Experience:

• Knowledge of capital requirements legislation as it applies to the legal requirements for derivatives and securities financing documentation
• Close familiarity with legal netting/collateral opinions and analyses
• Thorough understanding of the legal issues underpinning the WFB legal standards including bankruptcy, security interest/title transfer and netting/set-off issues

Skills:

• Strong drafting and research skills with ability to advise on a wide range of commercial contracts such as ISDA, GMRA, GMSLA, FIA contracts etc.
• Strong communication skills (both written and oral) with the ability to work with other in a collaborative fashion
• Ability to autonomously, taking initiative to be pro-active in finding solutions to drive commercial results

Qualifications:

• Solicitor qualified to practice law