Citi, the world leading global bank, has approximately 200 million customer accounts and a presence in more than 160 countries and jurisdictions worldwide. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Citi enables clients to achieve their strategic financial objectives by providing them with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity.
The Belfast Legal Department provides a range of services, support and advice to many business areas with a particular focus on Citi’s Institutional Client Group; incorporating transaction negotiation, master agreement negotiation, and oversight of compliance and regulatory requirements.
A Legal counsel or legal agreement negotiator position has arisen within the Markets-wide Initiatives (“MWI”) group, with primary responsibility for managing Citi’s Markets Terms of Business and Markets Research Agreements, and supporting on other regulatory implementation projects within MWI.
MWI is responsible for advising the Markets and Securities Services (“MSS”) business within Citi’s Institutional Clients Group and the MSS Legal Department more generally on legal issues and regulatory developments across all products and services within MSS, including:
- Advising on existing regulations impacting across MSS product lines, such as Mifid/Mifir, CASS client asset protection, bank recovery and resolution and EMIR;
- Advising on new regulatory developments which may impact on MSS and supporting the MSS Regulatory Reform team on the implementation of regulatory change projects impacting on the entirety of MSS;
- Negotiating key regulatory-driven cross-product client agreements for MSS;
- Supporting MSS and Citi Government and Public Affairs on advocacy initiatives with industry associations and regulators in respect of regulatory developments, including attendance at legally-focused industry association working groups and meetings with regulators;
- Legal advice in respect of MSS financial markets infrastructure such as membership of trading venues and clearing houses;
- Legal advice and transaction execution support to the MSS Principal Strategic Investments group, which undertake equity investments in trading venues, clearing houses and FinTech that complement the MSS business; and
- Providing internal knowledge management support to the wider MSS Legal team.
- The role requires a self-motivated individual to be responsible for managing and negotiating certain core client trading agreements used by the MSS business – Markets Terms of Business and Markets Research Agreements.
- In addition to managing client negotiations, the individual will be responsible for tracking and reporting on the status of outstanding client agreements to management.
- The individual will liaise with key stakeholders in Sales, Legal and Compliance across the global Citi network, and will have significant direct client interaction. The individual may also assist in managing other regulatory-driven agreements.
- The individual will also have the opportunity to work with senior lawyers in the MWI team on other regulatory projects in MSS, developing broad skills and experience in European financial services regulation.
- The role would suit an individual with a law degree and some experience in, or exposure to, the financial services industry, having previously worked in a client agreement negotiation, project management or regulatory implementation role in a bank or asset manager, who is looking to develop a successful career in financial services law.
The individual will receive excellent support and mentoring from experienced lawyers. For non-legally qualified candidates, the role may offer the opportunity to undertake further training as part of Citigroup’s Legal Academy to seek qualification as a solicitor in England and Wales
- A good understanding of financial markets and financial markets products
- Good awareness of basic financial services regulation
- Experience in managing negotiation of client financial markets trading or product agreements
- A knowledge of the asset management industry would also be highly regarded but not essential
- Legal skills in contract law and financial services regulation
- Problem-solving skills to find solutions to client problems
- Strong communication skills (both written and oral)
- Good business judgement and commercial aptitude
- Project management and organisational experience in tracking client agreements.
- Self-driven and ability to manage and deliver projects
- Proficient in the use of Microsoft Office suite of software
- The ability to work in an organised and disciplined manner is a key requirement of the job. In addition, the jobholder will have an analytical, legal mind with problem solving skills
- Ability to work both as part of a team and to proactively take individual responsibility for projects
- Project management skills and attention to detail
- A law degree obtained in the United Kingdom or another common law jurisdiction, or elsewhere in the European Union.
- Solicitor qualified in England and Wales, Ireland or another European jurisdiction would be well-regarded but not essential.
- Bachelors/University degree or equivalent experience