Capital Optimization Attorney
Credit Suisse is a leading global wealth manager with strong investment banking capabilities. Headquartered in Zurich, Switzerland, we have a global reach with operations in about 50 countries and employ more than 45,000 people from over 150 different nations. Embodying entrepreneurial spirit, Credit Suisse delivers holistic financial solutions to our clients, including innovative products and specially tailored advice. Striving for quality and excellence in our work, we recognize and reward extraordinary performance among our employees, provide wide-ranging training and development opportunities, and benefit from a diverse range of perspectives to create value for our clients, shareholders and communities. We are Credit Suisse. We Offer
A department which values Diversity and Inclusion (D&I) and is committed to realizing the firm's D&I ambition which is a crucial part of our Conduct and Ethics Standards
The CO team sits within the General Counsel division and provides an advisory function in respect of credit risk mitigation techniques, supporting business partners such as Credit, General Counsel Negotiation and front office across all business areas. The team is located in Hong Kong, London, New York and Raleigh. Attorney to work amongst other things on:
- Procuring, reviewing and assessing the quality of legal opinions on the enforceability of close-out netting and collateral arrangements related to bilateral transactions governed by the ISDA, GMRA, GMSLA or local law governed master agreement as well as handling arrangements, and producing memoranda for Credit Risk Management supporting the application of supportive capital treatment or otherwise;
- Advising on whether individual OTC master netting agreements should be recorded as nettable or otherwise at counterparty level in internal systems and managing the process to make aforesaid updates;
- Acting as point of contact for CO, responding to netting or collateral related queries raised by negotiators, internal lawyers and business partners
- Providing subject matter expertise on the firm's internal systems and assist in administration and coordination efforts associated with current systems as well as various projects as they arrive.
CO is currently responsible for other things:
- Helping master agreement negotiators and other internal lawyers and business partners resolve netting or securities related customer concerns.
- Derivatives and legal, credit risk and capital issues, to ensure compliance with Basel standards on CCP and bilateral arrangements as implemented by our regulators.
- Acquire and/or review legal opinions from external counsel on due diligence, netting and collateral enforceability for all types of master agreements for bilateral derivatives and securities financing transactions (SFTs) and CCP's;
- Make suggestions to senior management on due diligence, netting and collateral enforceability for legal systems, capital adequacy and credit line utilization purposes;
- Assist in the development and maintenance of the netting policy and netting procedures and related projects and work with other internal business partners as required;
- Review and advise on underlying master netting agreements for derivatives and SFTs and rules of exchanges and clearing houses in light of regulatory capital requirements and make recommendations to resolve netting status and other related matters as between Credit Suisse and its counterparties;
- Provide legal guidance with regards to global regulatory developments and internal standards impacting the companies derivatives, securities financing, and clearing businesses;
- Promote awareness of applicable regulatory and accounting capital and liquidity requirements related to Basel standards and Resolution and Recovery Planning; and
- Responsibility for and regulation of the administration of internal structure and periodic reporting of metrics for the CO team.
1. Challenge and Control:
Exercise an objection and regulation function with
respect to Front Office and other areas (in particular as regards applicable
Credit Suisse polices and standards) and raise issues appropriately and in a timely manner.
2. Conduct and Ethics:
Proactively follow and promote CS Standards at all
3. External Counsel:
Support and lead the instruction and management of
external counsel management in an efficient and cost effective manner in
accordance with internal guidelines, to facilitate business to the appropriate
4. Research and Knowledge Management:
5. General Counsel Initiatives:
- Assist with legal research and knowledge management related to capital adequacy and netting and collateral resources and materials Shared Services/Corporate Functions;
- Willing to partner and coordinate effectively with business partners e.g. Compliance, Operations, Tax, and New Business.
Participate in General Counsel departmental initiatives (including internal projects). You Offer
- You understand the value of diversity in the workplace and are dedicated to fostering an inclusive culture in all aspects of working life so that people from all backgrounds receive equal treatment, realize their full potential and can bring their full, authentic selves to work.
- Qualified attorney with equivalent experience of at least 2 years post qualification (or equivalent) within a financial services, banking or legal setting
- Detailed understanding of derivatives documentation with experience in discuss ISDAs and other master netting agreements as well as clearing agreements an advantage; and
- Some experience and knowledge of derivatives SFT's and CCP arrangements and familiarity with various counterparty types (including hedge funds, investment funds, banks, financial institutions and corporates).
- Detailed knowledge of the key regulatory developments in relation to derivatives, clearing and collateralisation (preferable)
- An ability to identify accurate solutions to a range of legal and regulatory issues
- Detailed experience with project management and case management skills
- Outstanding research and drafting skills with ability to articulate complex legal concepts to non-lawyers, verbally and in writing
- Outstanding teammate with working and collaboration skills
- Equivalent experience gained in another financial institution (in-house preferable)!
- Hardworking, result oriented and love to analyze own workload and meet work objectives
- Ability to learn and maintain self-motivation to manage the changing demands of a fast paced environment
- Outstanding interpersonal and problem solving skills
- Proficiency with Microsoft Office, Excel and Power Point is preferred!
Credit Suisse is an equal opportunity employer. Welcoming diversity gives us a competitive advantage in the global marketplace and drives our success. Credit Suisse complies with applicable federal, state, and local laws prohibiting discrimination in employment in every jurisdiction in which it maintains facilities. Subject to applicable law and regulatory requirements, Credit Suisse complies with state and local laws regarding considering for employment qualified individuals with criminal histories.