People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours. It's personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation. Bringing words like “hard work” and “dedication” together with “community” and “respect” has enabled us to work collaboratively and build our future together. We call this Team Spirit and it's what makes us different. It's what makes you different.
Description of the Business Line or Department
The TSF team currently comprises ten team members (eight in Paris, two in London) who provide legal advice and support to SG’s Markets Division (MARK) throughout the whole life cycle of over-the-counter products, mainly derivatives on all underliers except commodities, from pre-trade, to trade and post trade services.
The coverage of the TSF team includes cross border regulatory work, distribution and disclaimers, e-business and digitalisation tools, sales and trading products and services as well as credit and all equity derivatives products, clearing and all post-trade new market infrastructures applicable to derivatives.
The business covers a range of clients including banks, corporates, asset managers, building societies, insurance companies, pension funds, hedge funds and other entities in the UK, Western Europe and emerging market jurisdictions.
The candidate will also provide ad hoc support to the Senior Counsel – Islamic Finance & Structured Products. Work in this area will encompass derivatives and loan transactions with a Sharia-compliant dimension and non-Islamic OTC derivatives transactions with a loan or bond underlying.
We have an exciting opportunity for a dynamic individual to join the Trading, Sales & Flow team (“TSF”) as a graduate trainee.
This London-based role reports to the Head of the TSF team in Paris. The TSF team is part of an integrated legal organisation for SGCIB with lawyers based across Paris and London.
The successful candidate will receive training and will be closely supervised by lawyers within the team, as well as by the Senior Counsel – Islamic Finance & Structured Derivatives, who works from London.
Provide legal advice to MARK in respect of (1) the creation and the development of MARK financial products by (i) the validation of these products, and (ii) the drafting and the negotiation of the contracts related to these products, while assuring the adequacy between the product contemplated by MARK and the related legal documentation and the legal certainty of MARK transactions, and (2) its projects, in particular its regulatory and digital projects.
Develop and maintain a risk culture through highlighting to relevant internal stakeholders and own management, upon becoming aware, legal, conduct and other risks (as appropriate) that relate to the coverage area and identify means to mitigate such risks. Keep own management and SEGL/JUR/GBS hierarchy systematically informed of significant or sensitive issues arising within the coverage area through use of all available means, including, without limitation, legal reporting tools such as Significant Facts Reporting, MAR matter tracker, Permanent Supervision and other relevant reporting tools.
Provide legal and regulatory advice to MARK in respect of MARK products (except debt issuances) on any kind of underlier (except commodities): shares, indices, funds, rates, forex, credit, to be offered to MARK clients (institutional, hedge funds or corporate clients). This mission may include the following tasks:
• Study the feasibility of products and structures within the framework of New Products Committees, including but not limited to Sharia-compliant products;
• Draft templates of contracts related to MARK products and related structures, including for confirmations of derivatives, repos and securities lending, deposits, distribution agreements and non disclosure agreements,
• Attend ISDA working groups, adherence to market infrastructures (execution, clearing, compression and central repositories platforms),
• Legal assistance to back offices,
• Transversal projects ( marketing guidelines, disclaimers, internet websites, trade portfolio transfers),
• Disputes with clients.
Provide legal and regulatory advice in relation to GBIS digitalization projects, in particular in relation to:
GBIS web platforms (eg SG Markets) on which GBIS offers electronically products and services to its clients (maintenance of the legal documentation in light of new regulations and services, coordination with other legal teams to assure the validity of the new services offered and the legal documentation, coordination with the business lines),
GBIS new digitalization tools (eg GBIS datalake, robots and automation, digital enablers) for which the team acts as global legal coordinator.
You will also work on regulatory issues, in coordination with the regulatory teams of SEGL/JUR, to assess the impacts of new regulations on the documentation (eg impacts of MIF 2 on the Terms of Business or on SG Markets documentation, on disclaimers, on templates of distribution agreements).
Finally, you may be asked to assist the Senior Counsel – Islamic Finance & Structured Derivatives in relation to (a) transactions with a Sharia-compliant dimension, including secured financing transactions and Islamic derivatives transactions based on either bespoke documentation or on the ISDA/IIFM Tahawwut (Hedging) Master Agreement and/or (b) non-Islamic OTC derivatives transactions with a loan or bond underlying.
Level of Autonomy and Authority
Works under supervision/direction from the relevant members of the TSF team and (as appropriate) the Senior Counsel – Islamic Finance & Structured Derivatives.