Singapore Job Openings
Barclays
Markets Advisory Legal - Director
Singapore
FULL TIME
October 18, 2024
Overall purpose of role
In this role, counsel will advise on matters relating to close out netting and collateral enforceability for the purposes of UK, US and APAC capital regulations which apply primarily in respect of the APAC Markets businesses. The role also entails designing enhancements or changes to global processes, systems and governance frameworks in connection with close out netting and capital regulations, as well as, participation in industry working groups involving close out netting and collateral enforceability relating to APAC jurisdictions. Netting is of strategic importance to the Legal function, and in this role, counsel is expected to work independently, demonstrate thought leadership, lead changes to our current processes and frameworks and supporting the Legal function in discharging netting as a strategic priority.
Key Accountabilities
Essential Skills/Basic Qualifictions:
Desirable skills/Preferred Qualifications:
To ensure that the activities of the business units in the Markets division are conducted in compliance with applicable laws, rules and regulations, and to help the bank manage legal risk associated with these activities.
Accountabilities
Director Expectations
All Senior Leaders are expected to demonstrate a clear set of leadership behaviours to create an environment for colleagues to thrive and deliver to a consistently excellent standard. The four LEAD behaviours are: L – Listen and be authentic, E – Energise and inspire, A – Align across the enterprise, D – Develop others.
All colleagues will be expected to demonstrate the Barclays Values of Respect, Integrity, Service, Excellence and Stewardship – our moral compass, helping us do what we believe is right. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge and Drive – the operating manual for how we behave.
In this role, counsel will advise on matters relating to close out netting and collateral enforceability for the purposes of UK, US and APAC capital regulations which apply primarily in respect of the APAC Markets businesses. The role also entails designing enhancements or changes to global processes, systems and governance frameworks in connection with close out netting and capital regulations, as well as, participation in industry working groups involving close out netting and collateral enforceability relating to APAC jurisdictions. Netting is of strategic importance to the Legal function, and in this role, counsel is expected to work independently, demonstrate thought leadership, lead changes to our current processes and frameworks and supporting the Legal function in discharging netting as a strategic priority.
Key Accountabilities
- Assist with the review and creation of summaries of the various close out netting and collateral enforceability legal opinions.
- Review and advise on underlying master netting agreements for derivatives and securities financing transactions and rules of exchanges and clearing houses in light of regulatory capital requirements and legal opinions.
- Effective management of external counsel and legal spend; streamlining, coordinating and ensuring effective communication with external counsel vis-à-vis global legal colleagues on legal opinion requests and reviews.
- Coordinate with various business stakeholders in respect of client policies, prioritisation and related workflow for requests in relation to netting and collateral enforceability opinions, and requests for advice in relation to regulatory capital requirements.
- Promote internal stakeholders’ understanding and awareness of: (a) applicable regulatory and accounting capital and liquidity requirements relating to Basel standards and UK and EU CRR, and other local equivalents to the extent applicable, (b) the Legal department’s procedures and guidelines relating to netting and collateral enforceability reviews, and (c) the netting and collateral committee governance forum.
- Provide strategic direction and drive changes to enhance and simplify existing global processes, systems, and governance frameworks in relation to regulatory capital and netting.
- Knowledge management: delivering updates on relevant legal, regulatory and governance matters to senior management and colleagues within Legal, the business and across the functions; fostering collaboration with other legal teams both within Markets, Country Coverage Legal teams, and more broadly to ensure sharing of knowhow and efficient legal coverage.
Essential Skills/Basic Qualifictions:
- Recognised law degree and qualified as a solicitor in Singapore, Hong Kong, US, UK, Australia, or New Zealand.
- 10+ years of relevant experience at a law firm and/or within the legal department of a financial institution. Experience should include specific close-out netting analysis experience, familiarity with insolvency law, the EU or UK capital regulations and industry-level master trading agreements for derivatives and securities financing transactions.
- Demonstrable leadership and/or management experience in a law firm or legal department of a financial institution.
Desirable skills/Preferred Qualifications:
- Strong written and verbal communication skills in order to convey key and complex legal concepts and regulatory and internal policy requirements to the relevant stakeholders.
- Demonstrates strong interpersonal skills to facilitate the prioritisation of requests and to ensure collaboration and respect among colleagues consistent with Barclays Values and Mindsets.
- Self-motivated with the ability to work autonomously in a fast-paced, demanding work environment and to advise stakeholders quickly and precisely on legal risks in order to meet imminent deadlines.
To ensure that the activities of the business units in the Markets division are conducted in compliance with applicable laws, rules and regulations, and to help the bank manage legal risk associated with these activities.
Accountabilities
- Development and implementation of best practice legal strategies to manage compliance with applicable laws, rules and regulations.
- Legal advice and support to the business units in the Markets division on matters arising from the relevant products/services provided by the Markets division .
- Subject matter support in the Legal department’s representation of the bank in legal proceedings related to the Markets business units such as litigation, arbitration, and regulatory investigations.
- Creation and review of legal documents for the business units in the Markets division to ensure the bank’s compliance with applicable laws, rules and regulations. Maintaining and updating template legal documentation for the Markets division.
- Legal research and analysis to stay up to date on changes in applicable laws, rules and regulations that may impact the activities of the bank's Markets business units .
- Developing and delivering training programmes to educate employees on legal and regulatory requirements related to the activities of the Markets business units .
- Pro-active identification, communication, and provision of legal advice on applicable laws, rules and regulations (LRRs). Keeping up to date with regards to changes to LRRs in the relevant coverage area. Ensuring that LRRs are effectively allocated to, and adequately reflected within, the relevant policies, standards and controls.
Director Expectations
- Provide expert advice to senior functional management and committees to influence decisions made outside of own function, offering significant input to function wide strategic initiatives.
- Manage, coordinate and enable resourcing, budgeting and policy creation for a significant sub-function.
- Escalates breaches of policies / procedure appropriately.
- Foster and guide compliance, ensure regulations are observed that relevant processes in place to facilitate adherence.
- Focus on the external environment, regulators, or advocacy groups to both monitor and influence on behalf of Barclays, when appropriate.
- Demonstrate extensive knowledge of how the function integrates with the business division / Group to achieve the overall business objectives.
- Maintain broad and comprehensive knowledge of industry theories and practices within own discipline alongside up-to-date relevant sector / functional knowledge, and insight into external market developments / initiatives.
- Use interpretative thinking and advanced analytical skills to solve problems and design solutions in often complex/ sensitive situations.
- Exercise management authority to make significant decisions and certain strategic decisions or recommendations within own area.
- Negotiate with and influence stakeholders at a senior level both internally and externally.
- Act as principal contact point for key clients and counterparts in other functions/ businesses divisions.
- Mandated as a spokesperson for the function and business division.
All Senior Leaders are expected to demonstrate a clear set of leadership behaviours to create an environment for colleagues to thrive and deliver to a consistently excellent standard. The four LEAD behaviours are: L – Listen and be authentic, E – Energise and inspire, A – Align across the enterprise, D – Develop others.
All colleagues will be expected to demonstrate the Barclays Values of Respect, Integrity, Service, Excellence and Stewardship – our moral compass, helping us do what we believe is right. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge and Drive – the operating manual for how we behave.
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