Netting Lawyer (6 Months Contract)

  • Competitive
  • Hong Kong
  • Contract, Full time
  • Societe Generale
  • 20 Nov 17 2017-11-20

Netting Lawyer (6 Months Contract)


Environment

Background

The Investment Banking Division of Societe Generale (GBS) is driving change to develop a new range of services and create more cross selling opportunities.

The Legal Master Agreement Negotiations Team (MAN) is currently responsible for amongst other things:

  • Updating master agreement templates, policies and procedures applicable within SG Group
  • Negotiating master agreements
  • Ensuring that agreements are recorded in systems and netting flags are entered in SG referential database in accordance with SG Group policy, and
  • Assessing legal opinion regarding the enforceability of close-out netting and collateral arrangements and producing SG netting reports supporting conclusions
MAN is a global team with hubs in New York, Hong Kong, Paris, London and Bangalore.

The Legal Prime Services Team (PRM) is responsible for amongst other things:

  • Developing negotiation policies for all agreements governing the services, products and transactions offered by Prime Services
  • Drafting and maintaining standard templates in relation to its brokerage and clearing activities
  • Overseeing negotiation and drafting of trading, clearing and prime brokerage documentation, including derivatives clearing documentation, prime brokerage agreements, broker terms of business and financing agreement, trading agreements together with ISDA documentation, GMRAs, GMSLAs and other master agreements relating to activities conducted by SG booking entities or their successors
  • Drafting of the documentation and structuring transactions
PRM is a global team with teams in London, Paris, NY, HK.

Role of the MAN Central Team (Central Team)

The Central Team will combine MAN and PRM processes with the aim to streamline the legal on-boarding of customers and counterparties facing SG or SG affiliates.

The successful candidate will form part of the HK MAN Team and report to the Head of Master Agreements, Asia Pacific. The candidate will also be required to regularly liaise with the Global Co-ordinator of the MAN Central Team.

The successful candidate will have the opportunity to broaden his / her current skills and gain experience across a broad range of master trading and clearing agreements in a multitude of jurisdictions.

The role is based in Hong Kong.

Mission

Summary of the Key Purposes of the Role - Key Objectives and Primary Goals

  • Support the delivery of the Netting Report Project for master and clearing agreement legal opinions
  • Ensure SG netting referential data are appropriate and up-to-date
  • Assist the Global Netting Co-ordinator with the initiation and IT development of a range of enhanced netting tools and certain tactical interim solutions
  • Provide training on netting processes and templates to legal teams and other internal stakeholders
  • Policy and template development with the aim of streamlining client on boarding outside of the netting sphere


Summary of Responsibilities
  • Review legal opinions on the enforceability of close-out netting and collateral arrangements for counterparties in relevant jurisdictions
  • Produce legal opinion netting reports that form the basis of SG's view of the legally effectiveness of the arrangements
  • Consolidate and maintain the Legal Opinion Inventory
  • Assist the Global Netting Co-ordinator to produce and update template forms of netting report, collateral report and instructions to law firms for the provision of legal opinions
  • Liaise with other MAN Hub contacts on the progress of the Netting Report project
  • Handle ad hoc netting enquiries from legal teams and other internal stakeholders
  • Engage with stakeholders to develop policies and templates to expedite client on-boarding across various industry master agreements and in response to regulatory change


Profile
Competencies - Skills and Technical Knowledge that are essential

The ideal candidate will be able to demonstrate:
  • A working knowledge and understanding of close-out netting and collateral arrangements for master agreements and clearing agreements
  • Suitable experience in negotiating ISDAs and other master agreements as well as clearing agreements (preferable)
  • Good knowledge and understanding of Asia-Pacific close-out netting specificities (necessary)
  • Some experience and knowledge of derivatives and familiarity with different counterparty / client types (including hedge funds, investment funds, banks, financial institutions and corporates)
  • An awareness of the key regulatory developments in relation to derivatives, clearing and collateralisation
  • Good project and case management skills and experience
  • Good team working and collaboration skills and experience
  • Fluent English (and scope to use French, Cantonese, Mandarin or other major languages is an advantage)
  • University graduate or equivalent
  • Either
- Qualified as a lawyer in England or

- Qualified as a lawyer or with law degree in Europe, North America or a Commonwealth country and having a good grounding in and experience of English law principles
  • Relevant previous experience in another financial institution (preferable)
  • Ability to monitor own workload and meet work objectives
  • Self-motivation and ability to manage the demands of a fast moving environment
  • Strong interpersonal and analytical skills; and
  • Good working knowledge of Microsoft Office suite of applications, especially Excel and Power Point