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Senior Lead Counsel – Director at Citi: Lead global legal strategy for Rates & Markets Treasury.
Senior role overseeing complex derivatives, structured financing, and compliance across North America and LATAM.
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Job Overview
Job Purpose: To provide legal support to Markets businesses in connection with Rates and Markets Treasury businesses.
Job Background/context: The role is dedicated to the Rates and Markets Treasury businesses globally with focus in the North America and LATAM country clusters. It covers all desks within the Rates and Markets Treasury businesses, with primary interaction being with: (i) the NAM Corporate Solutions Group; (ii) the Rates and Markets Treasury structuring team; (iii) the Local Markets Rates business in NAM & LATAM; and (iv) the businesses providing bespoke/structured funding and/or hedging solutions to clients.
Key Responsibilities
- Bespoke financing structures, including repo financing, derivatives-based financing (particularly TRS), collateralisation structures, financial guarantees and margin loans
- Technical elements of derivative documentation, including close-out provisions, optional and mandatory termination provisions, cash settlement calculations, and bespoke payoffs
- Syndicated swap arrangements, e.g. risk participation agreements
- Secured hedging, including being able to explain to stakeholders (in the business as well as other stakeholders such as Risk and ICM) the nuances of certain points and also to work with more junior colleagues on relevant points
- Contingent hedging, including those relating to M&A, issuance, and project finance
- Repackaging transactions across a variety of underlying product classes, including knowledge of relevant rules and exemptions, such as securities rules (144A, 4(a)(2), Reg S), investment company act exemptions (3a-7, 3(c)(1), 3(c)(7)), commodity pool exemptions and implications for US Risk Retention
- Non-linear derivatives, particularly swaptions and inflation-based products
- Advising on the 2006 and 2021 ISDA Definitions and the 2003 and 2014 ISDA Credit Definitions (as applicable)
- General advice on disputes and queries arising from OTC transactions
- Stable value
- Regulatory aspects relating to the above, including applicable sections of Dodd Frank, Volcker, and other relevant regulations
- Training and supporting colleagues on the above
- Working on escalations with the Global Head of Rates & Markets Treasury Legal and, as relevant, the Global Head of Markets Legal
Development Value
This is an excellent opportunity for a senior lawyer with a broad range of technical skills who enjoys dealing with a broad and changing diet of complex, technical work. Knowledge of both derivatives and SFTs is important, but this role could suit a candidate with an emphasis or background in either one of these areas. The successful candidate will be a subject-matter expert and senior adviser across a number of products and desks, and will function as a key point of senior escalation on day-to-day matters for the wider team. They will work directly with the Global Head on other points of escalation and broader strategic goals for the relevant businesses.
This role as designed will also benefit someone looking to demonstrate and develop their managerial skills, and provides the opportunity to do that on a global scale.
Person Specification
Knowledge/Experience: Preference for a candidate with: At least 8 years’ post-qualification experience, ideally with experience of working in-house. A strong, broad understanding of financial products and how they work and interact (e.g. bonds, loans, derivatives, SFTs). Derivatives experience within any product group is essential, with the 2006 / 2021 Definitions and the 2003 / 2014 Credit Definitions preferred. Experience of structuring complex transactions is preferred, including the underlying treatment of such trades (e.g. regulatory characterization, capital, credit, XVA).
Skills/Competencies Candidate must have: Ability to work independently and efficiently. Ability to work under pressure. Excellent organisation skills. Good diplomatic skills and ability to interact with personnel with different working cultures / levels / background. Good written and oral communication skills. Ability to present complex issues simply to senior management (legal and business). Ability to interact with and train junior colleagues Fluent in English (written and oral). Interest in technology. Intellectual curiosity to learn about new products and new legal structures.
Automated Processing and AI
We use automated processing, including artificial intelligence, for our legitimate business interests (or our reasonable and appropriate business purposes) to identify and align the candidate's skills and abilities with a specific job opening. Additionally, if you so choose, or consent, we can match your skills and abilities to other suitable roles at Citi.
Importantly, all our hiring processes and decisions, including determining your suitability for a role, are conducted, checked, and decided by individuals. Our automated processing and AI do not involve relying on automatic or autonomous decision-making. Please refer to any Jurisdictional Considerations, with specific provisions for your country (where relevant) for further details.
Illinois residents – AI Notice and Right
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