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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
The Bank is embarking on a global transition programme to move away from reliance on LIBOR (and other major IBORs) to alternative risk-free rates (RFRs) identified by the relevant public-private sector working groups. Given the scale and breath of the transition programme, a role has arisen within Legal to coordinate, lead and manage efforts across all Clients, Products, Regions and Dispute Resolution Legal teams, and to assist in Legal interaction with the Global IBOR Programme team and other internal stakeholders.
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:
Support General Counsel, Banking Book Legal Representative and Derivatives Book Legal Representative in interaction with and advising the IBOR Programme team.
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, monitoring 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.
Our Ideal Candidate
Experience and knowledge:
Minimally, a degree in Law.
Qualified lawyer, preferably in a common law jurisdiction.
Experience in banking and finance.
Experience in 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.
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.
Apply now to join the Bank for those with big career ambitions.
Internal Number: 6314686
About Standard Chartered Bank
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