Job Description

Job Background/context: The Regional Markets & Securities Services Legal Department provides legal advisory and documentation services for markets sales and trading desks, fund services and custodial services throughout the Asia Pacific region. The WFB programme is a core function of M&SS Legal in ensuring Citi’s ability to provide products and services to clients on an ongoing basis while meeting the required regulatory standards. Job Purpose: The Senior Counsel will be part of the Well-Founded Basis (WFB) team in Singapore within APAC M&SS Legal and will be integral to enhancing Citi’s approach to the WFB legal standards under the Basel III regulatory capital rules. The Senior Counsel will be primarily involved in the The Senior Counsel will be primarily involved in conducting substantive review of opinions relating to netting and collateral enforceability of derivatives, securities financing transactions and related agreements as well as ensuring that the legal review is sufficiently documented to conclude with a well-founded basis that the agreements are enforceable under applicable law in the relevant APAC jurisdictions. The Senior Counsel will focus on the review of non-standard ISDA/CSAs, GMRA and GMSLA-related opinions (specific to, for instance, a new type of counterparty or new jurisdiction not already covered by industry opinions, complex one-off transactions or involving non-standard documentation). Key Responsibilities: Conduct ongoing reviews of opinions, data summaries and WFB determinations in APAC jurisdictions in accordance with the WFB standard. Review non-standard ISDA/CSAs, GMRA and GMSLA-related opinions (specific to, for instance, a new type of counterparty or new jurisdiction not already covered by industry opinions, complex one-off transactions or involving non-standard documentation. Monitor legal developments in APAC jurisdictions relevant to netting and collateral enforceability, communicating updates on relevant matters to internal stakeholders and advising on any changes that may need to be made to client-facing documentation and internal Citi systems. Ensure that Citi opinions on enforceability, netting and collateral are kept current; update existing analyses in responses to changes in law; socialize changes as appropriate.
Liaise with other functions, including with operations, finance and risk, to ensure all WFB determinations are appropriately communicated and reflected. Collaborate with others in legal, ensure appropriate memorialization of WFB determinations and recordkeeping of legal analyses/opinions. Coordinate responses to regulatory requests, partnering with other functions such as risk and the impacted business where necessary. Ensure alignment of legal WFB deliverables across key DFST stakeholders and assist in remediation of any risks/issues that have been escalated. Provide training on the WFB framework and determinations. Qualifications: Successful candidates will have approximately 10-12 years PQE, or equivalent. Knowledge/Experience: Significant knowledge of the legal issues underpinning WFB legal standards, including bankruptcy, netting/set-off, title transfer/security interest arrangements and contractual enforceability. Significant knowledge of trading documentation and associated netting and collateral enforceability analyses across all fixed income products; strong experience with ISDA, GMRA, GMSLA, CDEA, local master trading agreements use in APAC, including margin documentation. Experience with reviewing industry and bespoke legal opinions. Skills: Ability to communicate effectively with key stakeholders including front office personnel / non-lawyers General legal skills: drafting, negotiation, issue spotting, problem solving and ability to grasp complex issues and structures quickly Strong team management skills Competencies: Self motivated Good communicator Team Player - Job Family Group: Legal - Job Family: General Legal - Time Type: Full time - Citi is an equal opportunity and affirmative action employer. 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. Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi. View the "EEO is the Law" poster. View the EEO is the Law Supplement. View the EEO Policy Statement. View the Pay Transparency Posting