Paralegal – EMEA Consumer Investments recruitment
Job Purpose:
This position offers a legal professional the opportunity to work on a range of capital markets products and other investment products, including, but not limited to, structured fixed income and equity linked products (both private placement and public offers) for retail distribution throughout EMEA.
The role is that of reviewer and approver of capital markets products supporting the EMEA Capital Markets Desks of Citi's Consumer Banking businesses. These Capital Markets Desks, based in London, provide support for products being sold into all regions of EMEA. Review and approval are to standards set by applicable law and regulation and internal Citi standards. The position will also support the review of investment products for Citi Private Bank and the Non-Resident Indian Business in the EMEA Region.
Job Background/context:
Citi's Legal department in London provides legal coverage for a wide range of financial products and services spanning Citi's Europe, Middle East and Africa business regions.
A leading provider of financial services and investment banking opportunities to financial institutions and corporate clients, governments and retail banking clients and with a global presence spanning 100+ countries and a legacy reaching back almost 200 years Citi is uniquely qualified to provide services to clients with both local and cross border interests.
Citi is committed to running our business in a manner that benefits society and the environment with a strategic focus on corporate citizenship both local and global.
With our career opportunities, our environmental efforts and our community activities we aim to make Citi your employer of choice.
Citi is an equal-opportunities employer.
Key Responsibilities:
Reviewers and approvers of capital markets/investment products for retail distribution work closely with the product desks based in London and with other relevant stakeholders within Citi and act as an important partner to provide advice and assistance in developing product documentation, with the key focus on assisting in the drafting, reviewing and approving of client facing product documentation or "Term Sheets". The overarching responsibility is to ensure that products are sold using documentation which meets relevant legal and regulatory requirements in each jurisdiction and to ensure fair, clear and not misleading standards are met in the presentation of sales materials to all Citi's retail clients.
Typical products would include:
- private placements of structured debt securities;
- public offers of structured debt securities (across Europe), in both instances working on products linked to a number of different underlying investments (eg equity, fixed income, commodities, fx etc);
- issues of warrants, preference shares and Islamic compliant debt securities;
- products issued from multiple debt issuance platforms (including both Citi funding entities, SPV issuers and non-Citi third party issuers);
- "Over the Counter" derivatives;
- offshore funds.
- Typical responsibilities would include:
- Reviewing draft retail Term Sheets against counterparty Term Sheets provided by Citi' or other banks who are the product providers.
- Considering underlying disclosure documents and programmes - under which debt securities and other products are issued - to check relevant legal and regulatory matters are addressed accurately.
- Considering and assessing country specific disclosure requirements for products to be distributed in specific EMEA jurisdictions.
- Querying and proving drafting commentary on retail Terms Sheets.
- Liaising with the retail Capital Markets Desks, Risk Management and Compliance functions on product offerings.
- Record keeping responsibilities for products approved.
- Ongoing issue identification and pro-active assessment of documentation improvement opportunities.
- Review of distribution arrangements and standard documentation templates in light of changing regulatory landscape (f.e., FSA Retail Distribution Review).
- As part of the internal control architecture of the firm, the Legal and Compliance functions play an important part in the approval process for the distribution all new and/or innovative structures, at the same time seeking to protect the Citi franchise through good judgment and compliance with Citi policies and applicable law and regulation. The successful candidate would be expected in time to be involved with that assessment of appropriateness of products both for investors and for Citi as distributor. Basic commercial and regulatory awareness, as well as good judgment, are essential skills for the successful candidate.
Development Value:
- The candidate will be introduced to wide range of innovative investment products and will receive training and experience in a very important area of financial services law.
- The position offers an opportunity to work on a broad range of capital market transaction structures linked to a broad range of underlying investments (eg equity, commodities, FX etc) and other investment products.
- The position will also involve direct contact with capital markets traders in Citi's retail businesses and in Citi's Investment Bank, as product providers, as required.
- Comprehensive training will be provided.
Skills
Knowledge/Experience:
- Strong academics and legal degree
- Specific experience with retail financial services businesses and regulation, or of products detailed in this specification would be beneficial, but is not required
- Genuine interest in financial services sector
Skills:
- Excellent technical skills (including drafting skills), and analytical ability.
- Strong business judgement and commercial attitude.
- Multiple file management / organisation skills.
- Adaptability.
Qualifications:
- Law Degree educated (min 2.1) or equivalent however exceptional candidates who do not meet this criteria may be considered for the role provided that they have the necessary skill set and experience.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Competencies
- Good communication skills (both written and oral)
- Attention to detail
- Planning and organising skills
- Team work skills
- Ability to work to tight deadlines
- 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.