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Derivatives and ISDA Lawyer - Financial Services - Open to flexible working

Location:  London
Other locations:  Primary Location Only
Salary: Competitive
Date:  21-Jan-2022

Job description

Requisition ID:  542241

Derivatives – Financial Services Lawyer / Negotiator (5+ Years PQE or 8+ Years’ Experience)
Location – London


With 2,400 lawyers and a further 1,100 legal professionals in 90+ jurisdictions, including Legal Managed Services delivery centers around the world, we are one of the fastest growing legal practices in the world. Our broad global coverage delivers legal advice with integrated legal managed services wherever our clients need it. Our legal professionals team with colleagues from across EY to provide multidisciplinary legal and legal managed services to the General Counsel of multinational corporations, bringing innovative solutions to better address the challenges they face and deliver the value and outcomes they seek.
Our FS Law UK practice is a dedicated team of legal, regulatory and financial services specialists who form part of EY’s multi-disciplinary, multi-jurisdictional offering to clients across banking and capital markets, insurance and wealth & asset management. The team includes former partners of leading UK and US law firms and senior lawyers with a wide range of experience gained whilst working for banks, insurers, investment firms, fund managers and regulatory bodies such as the FCA. Our lawyers and legal managed service specialists have led teams in banks and other regulated firms, and have worked in-house within legal teams and compliance functions, dealing with a broad range of regulatory change issues and regulatory investigations. We regularly advise and deliver end to end solutions on regulatory compliance matters, including IBOR, CSDR, Uncleared Margin Reform, Brexit, SMCR, GDPR, PSD2 and MiFiD2, in addition to local market and EU/cross-border regulatory compliance. We help our clients navigate the ever-changing regulatory landscape by providing cost-effective legal solutions.


The opportunity

We focus on our clients, providing exceptional client service and advice on a wide range of regulatory and legal change matters. Our legal managed services are an integrated part of EY Law both in the UK and globally and as such we deliver leading market insight and subject matter expertise scaled by our global legal managed service platform to bring together leading legal advice, innovative processes, best in breed technology and leading legal delivery professionals across the globe. This is an opportunity for a senior derivatives and ISDA negotiator to join our rapidly growing financial services focused legal managed services team to help support clients execute on their business as usual and project driven legal documentation work.
Your key responsibilities

  • You’ll support the successful delivery of legal services engagements, taking a professional, practical and commercial approach and ensuring technical excellence and legal subject matter expertise
  • Build and maintain relationships with our clients and provide high levels of client service
  • Assist in winning work by proactively managing existing clients and contribute to winning new clients and engagements
  • Consider legal issues and risks as brought about by regulatory change (i.e. IBOR, Initial Margin, CSDR and BRRD II etc.) in relation to legacy contracts and trading documentation including derivatives, securities and loan documentation.
  • Review, draft and negotiate various types of Master Agreement documentation for OTCs (English and New York Law as applicable) including but not limited to: securities and loan documentation ISDA Master Agreements (and ancillary documentation), Credit Support Annex, GMRAs, MRAs, GMLSAs, MSLAs, MSFTAs, Prime Brokerage documentation (including PBAs and ancillary agreements) futures, Tri-Party Agreements, Collateral Control Agreements, or any other clearing agreements.
  • Consider constitutional documents, including netting, collateral and capacity opinions as may be required as well as assist with the drafting of additional bespoke provisions of particular jurisdictions or counterparty types.
  • Strong knowledge of ISDA, other derivatives, loan and securities documentation in addition to trading and product agreements.
  • Keeping informed of business and regulatory developments as they impact on the way in which the business operates.
  • Liaising with relevant internal stakeholders (including but not limited to trading, sales, credit, treasury, tax and legal) throughout the project lifecycle.
  • Keeping work in progress records up to date and disseminating information on project status to senior stakeholders.
  • Presenting back legal escalation issues to senior internal client stakeholders. 


Skills and attributes for success 

  • Experience negotiating ISDA and other financial trade documentation
  • An excellent grasp of the regulatory landscape in the UK and EU, and a broad understanding of major international regulatory initiatives 
  • Experience of advising on significant regulatory compliance matters such as; Uncleared Margin Reform, PSD II, Brexit, IBOR, AIFMD, MIFID II, EMIR, FSMA and other relevant laws and regulations 
  • An understanding of Bank Regulatory capital issues and other issues affecting the banking sector, such SMCR and IBOR  
  • A willingness to embrace a new challenge, in a non-traditional, legal services environment
  • A dedication to client service and innovation
  • Positive attitude and willingness to be a team player
  • Excellent time management skills
  • Experience managing teams (incl. virtual or cross-border) of 2-6+ people

To qualify for the role, you must have 

  • Experience of working as a lawyer with relevant previous roles held in the financial services sector reviewing, drafting, and negotiating Master Agreement trading documentation such as loan and securities documentation. 
  • A proven record of negotiating complex documentation within very tight time deadlines. 
  • An ability to work in a fast-paced, high-volume environment.
  • An ability to multi-task, meticulous attention to detail and strong analytical, drafting, abilities.
  • Excellent client service and internal coordination skills as part of a project team with a mandate.
  • Excellent interpersonal, oral and communication and organizational skills to work quickly and efficiently to achieve results.
  • Excellent project management and communication skills
  • Demonstrable regulatory and/or derivatives law experience of a minimum of 5+ years PQE. For individuals who are not legally qualified, 8+ years of direct experience managing a wide variety of derivatives and master trading agreements negotiations
  • Previous supervisory experience


What we offer
We offer a competitive remuneration package where you’ll be rewarded for your individual and team performance. EY Law offers an excellent working environment, support and coaching from engaging colleagues, opportunities to develop new skills and progress your career and the freedom and flexibility to progress your career in a way that’s right for you
If you can confidently demonstrate that you meet the criteria above, please contact us as soon as possible.


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