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In-House Counsel - Derivatives and Netting
Top-Tier European Investment Bank
Seeking an In-House Counsel to Cover Netting Matters
About Our Client
Our client's Investment Banking Division operates in all major markets with close to 12,000 staff in more than 30 countries. The development of its capital markets activities continues at a steady pace, driven by the ambition to grow market share. Keys to future successes are: the continuous development of client on-boarding capability, the successful embracing of an increase in market sophistication and the intelligent adaptation to the challenges of ongoing regulatory change.
- The employee will coordinate with the global Master Agreements function in the Legal Department to design a global procedure with respect to close-out netting and collateral enforceability.
- The employee will implement such procedure in the Americas.
- The employee will be responsible for the review and upkeep of all netting and and collateral netting opinions in the Americas.
- The employee will participate in the global governance over the new netting procedure.
- The employee will be responsible for making all jurisdictional netting determinations in the Americas and work with the US Master Agreements team in making agreement level determinations.
- The employee will manage a remediation project with respect to netting matters in the Americas. In doing so, the employee will work with other stakeholders, such as IT, Operations and the Risk Department.
- The employee will likely report either directly or functionally to the Deputy General Counsel for the Americas
The Successful Applicant
- At least 6 years of professional legal experience, with expertise focused in U.S. bankruptcy law, derivatives (especially the enforceability of close-out netting and set-off principles) and/or U.S. law relating to security interests;
- An understanding of derivatives, futures, clearing and prime brokerage businesses;
- An understanding of netting concepts and market practice relating to the application of close-out netting for purposes of regulatory capital requirements;
- Familiarity with industry and bespoke netting and collateral opinions; and
- Presentation skills; knowledge of Powerpoint and Excel
- Proven organizational and project management skills;
- Effective in setting priorities, adapting to changes and meeting demanding deadlines on multiple concurrent initiatives.
- High energy, enthusiasm and self-motivation;
- Strong written and oral communication skills;
- Ability to effectively interact with internal groups on complex legal and business issues;
- Ability to work independently as well as with other members of the Legal Department and other areas of the firm;
- Ability to prioritize tasks and effectively respond to and service demanding clients;
- Ability to exert influence and persuade others; and
- Ability to take a position even in absence of broad-based support.
Experience: Major US law firm and/or in-house financial services firm experience (6+ years), with experience in one or more of the following areas: bankruptcy/restructuring; security interests; derivatives.
Education: Law degree from a well-regarded US law school
Undergraduate degree from a well-regarded 4-year college/university
Desired / Plus: Experience working in in-house legal department of a bank or other financial services institution with businesses similar to those of the client.
Desired / Plus: people management experience
What's on Offer
Competitive salary plus substantial room for growth