Job Overview
The Markets Legal Department is a global team organized around product groups and associated business lines. The Markets Business provides world‑class products and financing solutions to corporations, governments, and institutional investors through Citi’s leading underwriting, sales, trading, and distribution capabilities. A key part of the coverage of this critical and core Citi global business is centered within the Markets Legal Team. The team, comprising approximately 330 permanent legal staff across the world, works with Enterprise and Country legal colleagues to provide a wide range of services, support, and advice to multiple global and country Markets businesses and related functional areas, including general advice, transaction negotiation, document drafting and execution, and oversight of regulatory developments and requirements. The Markets business areas covered include the core product groups of Equities, Rates, Markets Treasury, FX, Spread Products, and Commodities. The team also provides advice and support to product, legal, and functional colleagues and to Citi’s governance forums and entity management with respect to different global booking vehicles.
Job Purpose
The role is dedicated to the Rates and Markets Treasury businesses globally with focus in the UK & Europe country clusters but with some support also provided to Asia. It covers all desks within the Rates and Markets Treasury businesses, with primary interaction with the Rates and Markets Treasury structuring team; the Local Markets Rates business; the businesses providing bespoke/structured hedging solutions to clients; and the Strategic Origination business. The role requires a broad range of legal skills, including an understanding of finance‑linked and deal‑contingent hedging, fund‑level hedging, and the ability to understand and structure complex, bespoke trades in different legal forms (e.g., securities lending, derivatives, loans, deposits). It also requires working knowledge of ISDA definitional booklets (Rates and Credit Definitions), relevant European regulations such as EMIR and SFTR, US regulations of global impact such as Dodd‑Frank, and familiarity with issues raised by transactions in emerging/local markets. Familiarity with applicable capital rules in both Europe and North America is also helpful. The successful candidate will act as a senior adviser to multiple desks with varying technical requirements across the derivative and SFT spectrum, work collaboratively with senior stakeholders in Risk, ICM, Compliance and other areas, and manage a team of lawyers based in the United Kingdom supporting these desks.
What you’ll do
- Bespoke financing structures, including repo financing, Islamic financing, derivatives‑based financing (particularly TRS), collateralisation structures, financial guarantees and risk participation transactions
- Technical elements of derivative documentation, including close‑out provisions, optional and mandatory termination provisions, cash settlement calculations, and bespoke payoffs
- Finance‑linked hedging, explaining nuances to stakeholders and working with junior colleagues in London and Belfast on transaction documents and derivative documentation
- Contingent hedging relating to M&A, issuance, and project finance
- Repackaging transactions across a variety of underlying product classes
- Non‑linear derivatives, particularly swaptions and inflation‑based products
- Advising on the 2006 and 2021 ISDA Definitions and the 2003 and 2014 ISDA Credit Definitions
- General advice on disputes and queries arising from OTC transactions
- Regulatory aspects relating to EMIR, SFTR, and Dodd‑Frank
- Training and supporting colleagues on the above
- Working on escalations with the Global Head of Rates & Markets Treasury Legal and, as relevant, the Global Head of Markets Legal
Development Value
This is an excellent opportunity for a senior lawyer with a broad range of technical skills who enjoys complex, changing work while managing a team of lawyers covering a variety of desks. Knowledge of both derivatives and SFTs is important; the role suits a candidate with an emphasis or background in either area. The successful candidate will be a subject‑matter expert and senior adviser across a number of products and desks, and will function as a key point of senior escalation on day‑to‑day matters for the wider team while managing the portion of the team that works in the United Kingdom. The candidate will work directly with the Global Head on escalation and broader strategic goals.
What we’ll need from you
- Significant and relevant post‑qualification experience, ideally with experience working in‑house
- Strong, broad understanding of financial products and how they work and interact (e.g., bonds, trade financing, loans, derivatives, SFTs)
- Knowledge of regulations and law impacting the different business areas described above
- Derivatives experience within any product group is essential, with 2006 / 2021 Definitions and 2003 / 2014 Credit Definitions preferred
- Experience structuring complex transactions, including capitalization, credit, and XVA considerations
- Experience managing a team of lawyers covering a variety of desks
Skills/Competencies
- Ability to work independently and efficiently
- Ability to work under pressure
- Excellent organisational skills
- Good diplomatic skills and ability to interact with personnel from different cultures, levels and backgrounds
- Good written and oral communication skills
- Ability to present complex issues simply to senior management
- Ability to lead a team under pressure and prioritise appropriately
- Ability to lead and develop team members’ skills and careers
- Ability to interact with and train junior colleagues
- Fluent in English (written and oral)
- Interest in technology
- Intellectual curiosity to learn about new products and new legal structures
Qualifications
NY or English legal qualification required.
What we can offer you
By joining Citi London you will be part of a business‑casual workplace with a hybrid working model (up to 2 days working at home per week), a competitive base salary (annually reviewed), and the following benefits:
- Generous holiday allowance starting at 27 days plus bank holidays, increasing with tenure
- Discretionary annual performance‑related bonus
- Private medical insurance packages tailored to personal circumstances
- Employee Assistance Program
- Pension Plan
- Paid parental leave
- Special discounts for employees, family, and friends
- Access to an array of learning and development resources
Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.
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