Legal Counsel — Markets recruitment
Job Purpose:
To provide legal support to the OTC Derivatives client clearing team and to other OTC derivatives areas in relation to clearing.
Job Background/context:
Part of a small team of specialists covering Rates, Credit Derivatives and Derivatives clearing. This in turn is part of a team of 35-40 lawyers supporting the Markets businesses (Fixed Income, Currency, Commodities and Equities Sales trading, cash and derivatives) in EMEA.
Key Responsibilities:
- Reporting to our senior OTC derivatives clearing specialist, the successful candidate will be engaged in the following areas.
- Working on Clearing house projects to provide new services or expand existing ones, onboarding Citi entities as Clearing Members, dealing with netting and set-off issues and liaising with front and back office functions, internal control groups and internal and internal legal counse..
- Assisting in the development of template documentation, at an institutional and an industry level.
- Providing of legal support and assistance to the Client Clearing team in the preparation of RFQs, RFIs and NDAs.
- Supporting and assisting negotiation staff in the negotiation of onboarding client clearing documentation. This will involve instruction and preparation of explanatory documents as well as the drafting of amendments to the templates to reflect the negotiated commercial position.
- In support of the credit sales and trading desks assisting in the development of template documentation, liaising with front and back office functions, internal control groups and external and internal legal counsel.
- Involvement in industry working groups, including those relating to regulatory development. Working closely with Government Affairs team.
- Ensuring compliance with Citi policies and procedures to protect Citi's franchise.
- Although the position will have a specific focus on support for the business area described above, you will have an opportunity to work with the other lawyers in the above team as well as with colleagues in the larger Markets Legal group and Global GCO and may have an opportunity to work on a variety of matters covered by Markets Legal.
Development Value:
This is an exciting opportunity for a candidate to work closely with the business providing exposure to the full range of OTC Derivative clearing related matters and to a broad range of legal issues and developments. This role providing a clear opportunity to add value and gain exposure to a leading business area during an unprecedented time of change for the OTC derivatives industry as a whole. For a lawyer making a first move in-house, the role offers the opportunity to become part of one of the largest and most varied Markets Legal departments in the region.
Skills
Knowledge/Experience:
- Preference for a candidate with post-qualification experience from a major law firm and in-house experience gained either through employment or secondment.
- Knowledge of ISDA/derivatives/clearing documentation, ideally prior involvement in OTC derivatives clearing projects.
Skills:
- Excellent technical skills and analytical ability.
- Attention to detail.
- Excellent communications skills (both written and oral).
Qualifications:
- Legal qualification required
[experience in major law firm.]
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Competencies:
- Ability to work under pressure and to strict deadlines.
- Sound judgment and decision making skills
- Team player
- Committed and motivated
- Valuing diversity. Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organizational success.