Natixis is the international corporate, investment, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France with 35 million clients spread over two retail banking networks, Banque Populaire and Caisse d'Epargne. With more than 16,000 employees, Natixis has a number of areas of expertise that are organized into three main business lines: Corporate & Investment Banking, Investment Solutions & Insurance, and Specialized Financial Services. A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE's banking networks.
Overall purpose of the role:
• Lawyer in charge of implementation of regulatory reforms related to derivatives master agreements and determination of derivatives and repo contractual policy.
Main responsibilities and duties of the role (indicate if any are shared, if so with which other position):
The lawyer will be in charge of:
• implementation of regulatory reforms for Master Agreements, including:
i) MIFID II
ii) Follow up of EMIR recast;
iii) Regulatory initial margin project (negotiation of Initial Margin Agreements, follow up of margin regulations globally);
iv) Stay regulation (ISDA Protocol, negotiation of Stay amendments).
• determining derivatives and repo contractual policy:
i) review and update of Natixis' templates;
ii) coordination with the relevant stakeholders (Risk, Front Office, Back Office, Master Agreements' teams) to ensure that Natixis's policy is reflected in the agreement.
• reviewing and analysing close-out netting and collateral opinions:
i) drafting of memorandum summarizing the conclusions of such analysis;
ii) ensuring that the opinions are in line with regulations requirements (in particular, CRR, EMIR, DF);
iii) presenting conclusions to risk committee.
• Brexit preparedness (e.g analysis of legal impact of Brexit on derivatives agreements such as governing law, continuity of agreements)
• using efficiently outside counsel and other in-house legal resources. Obtaining focused advice where appropriate;
• following and participating in ISDA and other similar trade associations' working groups and legal committees;
Responsible for producing:
Derivatives and repo master agreement policy
Initial Margin documentation
Responsible for reviewing:
Close-out netting and collateral opinions
Regulations related to derivatives transactions
Key skills, experience and personal attributes required (include problem solving aspects): ]
• Ability to understand and manage legal risk in a robust but practical way
• Delivering results within expected timeframe
• Demonstrating a passion for excellence and exceeding client expectations
• Adaptability, flexibility
• Developing effective relationships with internal clients and gaining their trust and respect
• knowledge of ISDA, GMRA and other capital markets master agreements
• Strong derivatives experience gained ideally both in-house and in a law firm
• Good awareness of the current regulatory landscape as applicable to derivatives products: ESMA publications, Dodd Frank, EMIR, MIFID.
• Technical experience in contract law in a financial services environment
• MS Office Products: Excel, Word
Specialist /technical or professional qualifications, including any registrations (FCA or other) required: SRA if applicable
Working conditions (If not standard working hours please state shift system used): Contractual plus flexibility required in order to meet operational requirements and business needs
Date de publication:20/07/2018