State Street Corporation
London, United Kingdom
16 Nov 2022
16 Dec 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Role specifics

This is a key role in the Global Markets legal team, primarily advising the Securities Finance and Funding and Collateral Transformation ("FaCT") business lines on the legal aspects of their activities.

The successful candidate will be responsible for duties including the following:
  • Drafting, negotiating and advising on a wide range of contracts and service arrangements such as lending authorisation agreements, industry standard securities lending and repo agreements (e.g. the GMSLA and GMRA), triparty collateral management documentation and security agreements
  • Managing negotiations with a wide range of clients and counterparties including asset managers, official institutions, asset owners, insurance companies, hedge funds and bank entities
  • Considering the legal implications of rules and regulations applicable to the business, such as MiFID, SFTR, the FCA rules (in particular, CASS and COBS), licensing considerations and ESG-related issues.
  • Advising on legal issues related to business product development initiatives, including: the development of new operating models (e.g. security interest lending arrangements, Central Clearing Counterparties, etc); expansion into new jurisdictions; new client/counterparty types
  • Working with senior and executive legal, business, risk and compliance stakeholders to ensure that outcomes meet the requirements, priorities and deadlines of the business
  • Conducting enforceability, netting, jurisdictional and other reviews (with the assistance of outside counsel, if appropriate). This may include review of legal opinions, assessing key issues and risks and providing summaries/briefings to management. Instructing and managing external counsel, including ensuring robust budget management
  • Proactively providing local support to corporate legal initiatives and new product and business developments
  • Collaborating with, and coordinating input from, lawyers in other business lines and jurisdictions. Assisting with the oversight and development of more junior members of the legal team

Key behaviours and expected skills include:
  • City law firm background
  • Strong commercial contract drafting and negotiation, written and verbal skills
  • Ability to formulate legal advice and positions clearly and concisely in a commercial environment
  • Detailed knowledge and familiarity with traded product agreements, in particular documentation for securities finance transactions such as the GMSLA and GMRA
  • Solution-oriented, intellectual flexibility to work through complex issues with multiple stakeholders and to propose workable solutions within tight deadlines
  • Quick learner with a proactive approach and the ability to build strong relationships with a variety of stakeholders
  • Adherence to a Risk Excellence mindset and compliance with Code of Conduct