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Working as part of a team and reporting to the Head of Legal, supporting the securities services activities of a wholly-owned banking subsidiary of the BNP Paribas Group created expressly to provide specialist securities services and investment operations support to a wide range of issuers, financial intermediaries and institutional investors.
Key Responsibilities of the Role
•Providing legal support in respect of critical business initiatives and management of legal risks within the business, primarily the treasury and liquidity management business line.
•Negotiating, drafting and reviewing contracts including:
◦Derivatives (vanilla) agreements relating to different counterparty types across various jurisdictions including: (i) ISDA master agreements, (ii) ISDA credit support annexes; and (iii) IFEMAs;
◦Securities financing documentation including, Loans Markets Association standard documents
◦Securities interests including (i) letters of credit; (ii) guarantees; (iii) fixed and/or floating charges; and (iv) liens;
◦Global & Master Custody and Local (sub-custodian) Agreements;
◦Stock Lending Agreements on an agency and principal basis including (i) Securities Lending Authorities - Lenders/Exclusive Securities Lending Agreements; (ii) GMSLAs; and (iii) GMRAs ;
◦Collateral Management (Escrow) Agreements
•advising as to all aspects of creating and enforcing security interests over cash and securities including the effect of insolvency on such security interests
•working with credit and product management teams on developing new products, updating and obtaining legal opinions and advising with regard to regulatory and tax specific issues, cross-border perfection requirements and insolvency issues and security requirements (including selecting and co-ordinating external legal counsel where relevant)
•creating standard precedents for new products and updating existing precedents
•creating check-lists related to various standard agreements to facilitate the issuing of agreements
•providing legal training to other lawyers and non-lawyers |
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Law Degree (•English law qualified solicitor)
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5 years + |
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English : Speak / Write Fluently
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open-ended |
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unspecified |
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EU National |
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London |
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•English law qualified solicitor
•Experience preferably in the securities services area or other financial services area including experience in some or all of the following areas:
◦custody (local and global)
◦stock lending, repos and collateral management;
◦derivatives (vanilla);
◦cash and Securities finance documentation;;
◦creating and enforcing security interests; and
◦general commercial contracts (the "Standard Agreements")
•Experience preferably working in-house, or alternatively in private practice;
•Experience in drafting, reviewing and leading complex negotiation of legal agreements
•Experience of working with international colleagues (legal and business) in the coordination of international deals
•Experience of the product development process (i.e. identifying and quantifying legal risk and suggesting risk mitigants/solutions) and commercial transactions (understanding business needs and ability to "balance" business need and legal risk through creative legal thinking and drafting!)
•Advising as regards taking security over cash and securities
•Experience of creating new precedents and amending existing precedents for developing product offerings
• A pro-active individual who enjoys working within the framework of a supportive team but able to work autonomously - able to prioritise and work to deadlines within a demanding, busy environment
•Awareness and understanding of regulatory, credit and tax aspects of financial services business (including cross border issues) - tax and compliance departments provide detailed support but awareness of how and where issues arise is key
•European language skills would be helpful but not essential |
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BNP Paribas is a European leader in global banking and financial services and one of the six strongest banks in the world according to Standard & Poor's. |
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BNP Paribas
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