Senior Legal Counsel, Global IBOR Transition-Transaction Banking
Standard Chartered
Singapore, Singapore
6d ago

About Standard Chartered

We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.

To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good.

We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation.

This in turn helps us to provide better support to our broad client base.

The Role Responsibilities

Coordinate within Legal :

  • Organise, manage and take minutes of IBOR Legal Working Group (ILWG) meetings.
  • Populate, maintain and update spreadsheets with legal management information contributed by various Legal teams (Clients, Products, and Regions).
  • Help provide training and track legal knowledge management relating to IBOR transition.
  • Assist with review of existing policies and procedures in relation to IBOR transition.
  • Assist in preparing papers to update operational risk, non-financial risk and other management committees in relation to IBOR transition.
  • Assist in liaison with external counsels and country legal colleagues.
  • Lead interaction with IBOR Programme and others :

  • Main focus on Transaction Banking / Trade Finance support
  • Support General Counsel, Banking Book Legal Representative, Derivatives Book Legal Representative and IBOR Programme Counsel in interaction with and advising the IBOR Programme team.
  • Support IBOR transition programme and frontline on client outreach and advisory and resultant queries and workstreams.
  • Help to track, monitor and manage progress of Legal in the IBOR transition programme.
  • Assist in Legal representation of SCB in external forums, committees and working groups relating to IBOR transition.
  • Track, escalate and handover the management of client dispute resolution, if any, relating to IBORs to the relevant dispute resolution teams.
  • Contract Readiness and Transition :

  • Assist relevant Clients and Products Legal in reviewing contract readiness, in particular, risk disclosures on IBOR discontinuation, fall-back language for existing IBOR contracts, incorporation of new fall-back language for new IBOR contracts, and readiness of contracts to trade new products referencing RFRs.
  • Assist in identifying and repapering of existing contracts, working in conjunction with Products Legal and / or external legal counsel or vendors.
  • Assist Product Legal in reviewing and responding to various industry consultations in relation to IBOR transition.
  • Lead and coordinate with Country Legal in relation to repapering of existing contracts and roll-out of new products referencing RFRs.
  • Legal costs management :

  • Control, monitor and report spending of external legal providers for IBOR Programme.
  • Monitor quality of legal services provided by external legal providers relating to IBOR Programme.
  • Experience and knowledge :

  • Minimally, a degree in Law.
  • Qualified lawyer, preferably in a common law jurisdiction.
  • At least 5 years product experience in banking and finance and / or foreign exchange and derivatives.
  • Character and skills :

  • Strong analytical and legal skills.
  • Personal authority and integrity.
  • Independence and resilience.
  • An inquisitive approach to practices, procedures and market practices.
  • Ability to lead, plan and manage projects within Legal function.
  • Ability to coordinate across different businesses, functions and geographies.
  • Ability to work with Excel is highly desirable.
  • Judgment :

  • Many issues which arise in this role may not be legal issues but involve aspects of credit, market, event or operational risk.
  • The candidate must be able to understand the nature of these risks and contribute to the processes that mitigate these risks.

  • The role may require the candidate to make judgement decisions in which a balance must be struck between the interests of doing business and of protecting the Bank.
  • Even though the candidate may not make this decision solely, he / she must be able to make a meaningful recommendation and to provide the decision-maker with sufficient legal information to make an informed decision.

  • The candidate must be able to adapt his / her approach to a range of legal systems which may differ considerably from the system he / she was trained in.
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