REQUIREMENTS

Experience in the securities services area (or other financial services) area including experience in some or all of the following areas:
custody and clearing
securities lending and repos (especially agency securities lending authorities)
derivatives (vanilla)
general commercial contracts
Experience in drafting, reviewing and 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 (or willingness and enthusiasm to build knowledge) of regulatory landscape, such as EMIR, CRR, BRRD, IBORs and SFTR.
Awareness and understanding of 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.
Good writing and presentation skills with an ability to summarise key procedures in a clear and concise manner.

JOB PURPOSE

Paralegal or solicitor (working as part of a team) supporting the Securities Services Market & Financing Services (“MFS”) business line of BNP Paribas.

KEY RESPONSIBILITIES OF THE ROLE:

Providing legal support in respect of critical business initiatives and management of legal risks within the business.
Negotiating, drafting and reviewing contracts within the securities services’ business including (but not limited to):
Amendments to Securities Lending Authority Agreements for Agency Lending;
FX Calculation and Execution Agreement for passive currency overlay, and amendments, restatements or novations, FX trading agreements relating to different asset managers and fund types across various jurisdictions;
Support to Securities Services-specific financing activity: negotiation of amendment agreements and extensions to existing Facility Agreements, replication and finalisation of draft financing documentation. Preparation of execution copies/collation of executed documents, providing general support with the execution process, including tracking of signatures to the executed documents and the status of conditions precedent to be received as part of the execution process. Issuing of post execution notices, tracking signatures and acknowledgements of such notices.
Advising other Securities Services colleagues (legal, business, operations and functions) across all locations including advising how the provision of the MFS services impact Securities Services as custodian, depositary, fund administrator from a legal perspective as well advising on potential operational and regulatory issues.
Drafting and negotiation of agency and principal lending GMSLAs (including pledge), Account Control Agreements and accompanying security agreements for pledged collateral, GMRAs and SFTR Reporting Services Agreements.
Adhering to bank policies and obtaining relevant Credit, Risk and Collateral teams’ approvals where there are deviations from the standard bank’s position in negotiations;
Keeping clients, Business and Client On Boarding teams updated and managing their expectations;
Carrying out capacity checks, review and analysis of legal netting and collateral opinions, drafting of bespoke language, liaising with external counsel to obtain updated opinions, present findings at the Netting and Collateral Committee for approval;
Updating and assisting in the instruction drafting for obtaining legal opinions and advising with regards to event of default procedures, mini close outs, netting issues, regulatory specific issues, insolvency issues and security requirements (including selecting and co-ordinating external legal counsel where relevant);
Updating internal systems;
Creating standard precedents 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.