Assistant General Counsel - Derivatives Lawyer (Senior Rates)

Are you looking for a career move that will put you at the heart of a global financial institution? Then bring your skills and experience to Citi’s Legal team.

By joining Citi, you will become part of a global organisation whose mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.

Team Overview

The role is dedicated to the Rates and Markets Treasury businesses globally with focus in the UK, Europe, Middle East and Africa country clusters, covering all desks within the Rates and Markets Treasury businesses but with a focus on local markets – including all of cash, derivatives and structured products – as well as primary dealership / cash trading and other bespoke solutions from time to time with respect to the Rates businesses.

This is a role requiring a broad range of legal skills, ranging from an understanding of finance-linked hedging to the ability to structure complex, bespoke trades, both in an interest-bearing and Sharia-compliant context, to being able to work on financing products in both derivative and cash format. It will also require a working knowledge of ISDA definitional booklets, particularly the Rates and Credit Definitions, and the ability to work with both the desks and seniors within Legal on the strategic aspects of supporting the relevant businesses.

What you’ll do

• Provide legal support to Markets businesses in connection with Rates and Markets Treasury businesses

• Bespoke financing structures, including Islamic financing (primarily in repo format), derivatives-based financing (particularly in TRS format), note issuance, collateralisation structures, financial guarantees and risk participation transactions

• Repackaging transactions across a variety of underlying product-classes

• Working with counsel in emerging markets on issues such as capacity, enforceability etc.

• Finance-linked hedging, including negotiating the wider transaction documents from a hedging perspective, overseeing the negotiation by the Belfast team of certain points in the derivative documentation and discussing relevant aspects with Risk and other functions

• Technical elements of derivative documentation, including close-out provisions, optional and mandatory termination provisions and cash settlement calculations

• General advice on disputes and queries arising from OTC transactions; General advice on cash trading, especially in the local markets

• Training and supporting more junior lawyers in the team on the above

What we’ll need from you

• A Qualified Lawyer with suitable post-qualification experience, ideally with experience of working in-house

• A strong and broad understanding of financial products and how they work and interact (e.g., loans, bonds, trade financing, derivatives, SFTs)

• Derivatives experience within any product group is essential, with knowledge of the 2006 / 2021 ISDA Definitions and 2003 / 2014 ISDA Credit Definitions strongly preferred; A working knowledge of ISDA definitional booklets, particularly the Rates and Credit Definitions

• Experience of structuring and/or managing complex transactions is strongly preferred

• A basic understanding of secured hedging structures (e.g., finance-linked hedging and securitisation / warehouse hedging) is a plus

• Excellent organisation skills; Good written and oral communication skills; Ability to present complex issues simply to senior management

• Intellectual curiosity to learn about new products and new legal structures; Interest in technology

• Good diplomatic skills and ability to interact with personnel with different working cultures / levels / backgrounds

What we can offer you

This is a role that will offer you the opportunity to build and develop an in-depth knowledge within Legal and drive your career forward. 

This is an excellent opportunity for a lawyer experienced in, and keen to expand their knowledge of, a wide variety of products across both derivatives and cash. The successful candidate could either come from any of a general financing, SFT, or derivative background, but must be able and willing to cover all relevant areas. Ultimately they will be expected to demonstrate and be willing to develop their experience and understanding of complex financing structures (including derivatives and note issuance), other complex structures such as Islamic financing, and derivatives products used by the Rates business across both the linear and non-linear derivatives spectrum.

The successful candidate will be expected to be a subject matter expert for the Rates cash and derivatives businesses, monitoring complex issues that arise and escalating where necessary to work with Legal seniors to drive solutions and efficiency.

Sounds like Citi has everything you need? Then apply to discover the true extent of your capabilities.

#LI-CM2

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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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