Legal Trainee – Financial Services Regulation

Job description

Responsibilities

Description of the Business Line or Department

The Legal Department in London (SEGL/JUR London) primarily provides legal advice and support to all London based investment banking business lines and those businesses forming part of the SG Group in the UK.It is divided into the following teams/areas of expertise: (i) Global Finance (sub- divided into Structured Finance (STR), Financial Engineering (ENG), Energy and Natural Resources (ENR); (ii) Markets (sub-divided into Structured Products, Debt Capital Markets and Islamic Finance); (iii Master Agreements; (iv) Prime Services; (v) Securities Services; (vi) Corporate Finance; (vii) Financial Services Regulation; (viii) Employment; (ix) Shared Internal Legal Services (incorporating Commercial and IT Contracts, Global Transaction Payment Services and Company Secretarial); and (x) Data Protection.

The Legal Department is responsible for identifying and analysing legal and commercial issues, including communicating advice clearly and effectively, as part of an overall responsibility for managing and overseeing legal risk for the businesses supported.The Legal Department is also responsible for managing its own conduct risk, promoting a positive culture of good conduct and compliance and contributing to the management of conduct risk throughout the businesses supported.

The Financial Services Regulatory team in London Legal (SEGL/JUR, FSR London) provides advice and assistance in relation to financial regulation applicable to the bank both at a business line level and an institutional level in respect of business carried on in or from the United Kingdom.The team's responsibility extends to all SG Group entities operating in the United Kingdom, with the exception of Kleinwort Hambros, ALD and SGEF.Responsibilities extend to both ad hoc advice on existing regulation (“run the bank”) and strategic advice on the adaptation of the bank's activities to changing regulation (“change the bank”).The team advises on regulatory aspects of transactions with a UK nexus, including the introduction of new products and services; the marketing and promotion of investment and banking products; as well as engagement and communication with the bank's regulators, in coordination with the Compliance Department and both the Group Financial Services Regulatory team (SEGL/JUR/RBF) and the GBIS Digital and Regulatory Transformation Team(SEGL/JUR/GBS/TFM). In respect of cross-border activities with a UK element, the team plays a liaison role in dealing with colleagues the broader legal and compliance departments across the globe to ensure compliance with financial regulation.The team may from time to time also manage, in conjunction with the Group Litigation Department (SEGL/JUR/LDC), the progress of contentious regulatory matters affecting the UK.

Summary of the key purposes of the role

·  Assist the General Counsel, London and the Head of Financial Services Regulation (SEGL/JUR London) in discharging the London Legal Department's regulatory watch responsibilities, by:
·  identifying new laws and regulations and changes to existing laws and regulations that may impact on the SG Group in the UK; and
·  providing commentary and analysis on these changes for publication through the Bank's Legal Watch tool (ARGOS).
·  Drafting and amending a wide range of documentation arising out of the team's responsibilities, including applications to regulators and other competent authorities; correspondence with regulators and other competent authorities; client agreements and service agreements with a regulatory element; and regulatory disclosures and disclaimers included in marketing and other client-facing documentation.
·  Reviewing and collating feedback within Legal on new and updated policies and procedures covering the London platform.
·  Carrying out legal research to assist in advising colleagues within Legal, the front office and other functions on the Bank's responsibilities under the UK regulatory system, focusing in particular on rules and regulations promulgated by the UK Financial Conduct Authority (FCA) and the UK Prudential Regulation Authority (PRA).
·  Working with and providing ad hoc support to other legal teams on regulatory or other Legal matters as required.

The candidate will gain experience and knowledge of the Bank's legal and regulatory obligations and will work in close collaboration with both lawyers and internal clients.

Summary of responsibilities

·  Provide analysis and commentary on changes in law and regulation and their impact on the Bank.
·  Review, comment on and draft documentation to be submitted to the FCA, the PRA and other competent authorities.
·  Review, comment on and negotiate legal agreements.
·  Attend meetings and take minutes.
·  Carry out legal research.
·  Carry out general drafting tasks and proofreading.
·  From time to time, to assist with other matters lawyers in the team may require which may include general administrative tasks.

The candidate will receive training to enable them to do this, but after a couple of month the candidate will be expected to run files on their own, albeit supervised by lawyers within the team.

Level of Autonomy and Authority

Whilst, after a couple of month the candidate will be expected to run files on their own, they will be supervised by a senior lawyer.

Profile Required

Competencies

All members of the Legal Department are expected to demonstrate the basic principles of the SG Leadership Model:

· Team Spirit: working with colleagues inside and outside of the Legal Department to achieve success

· Innovation: demonstrating common sense, looking for simple, efficient solutions

· Responsibility: having the courage to do the right thing and being aware of relevant risk (whether legal, conduct or other risk)

· Commitment: being engaged, showing consideration for others and contributing to a positive attitude in the Legal Department, and more widely within SG

In addition, the Legal Graduate will have the following skills:

§Aptitude and knowledge of English law concepts

· Ability to undertake and present research.

· Ability to grasp concepts quickly

· Self-motivation: “can do” attitude with the determination to learn and progress legal knowledge

· Ability to monitor own workload and meet work objectives

· Ability to act autonomously (over time) and with confidence

· Strong interpersonal and analytical skills: intelligent, articulate, friendly and approachable

· Suitability for, and/or track record in, working in a team and collaboration skills

· Good working knowledge of Microsoft Office suite of applications, including Word and Excel

WORK EXPERIENCE

· Previous experience working either in a bank or a law firm (including vacation schemes) is advantageous, but not essential.

· Must be legally able to work in the UK without a visa.

EDUCATION

· University graduate with a minimum 2:1 degree classification

· UK legal qualification preferred, being (i) an English law degree; or (ii) a non-law academic degree plus the Graduate Diploma in Law (GdL)

· Legal Practice Course (LPC) would be advantageous but not essential

LANGUAGES

· Native English speaker or otherwise bilingual in written and spoken English

· An ability to speak French would be helpful but is not required

Why Join Us

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.

Business Insight

If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Société Générale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender reassignment.

We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents , regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, sexual or gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.

Job code: 20000FWZ
Business unit: SG CIB
Starting date: 07/09/2020
Date of publication: 14/07/2020