About Barclays Barclays is an international financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth management with an extensive presence in Europe, the Americas, Africa and Asia. Barclays' purpose is to help people achieve their ambitions - in the right way.
With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
Barclays provides large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs.
About Legal Managing Barclays' Legal risk is the fundamental responsibility of the Legal function. Our mission is 'to protect and create value for Barclays by managing legal risks and advancing opportunities', i.e. to protect and build the bank. Our role includes: · Provision of business coverage and support, including commercial contracts, employment, intellectual property and transactional / deal support · Oversight of regulatory relations · Management of litigation portfolio · Management of competition law investigations · Regulatory strategy and policy.
Overall purpose of role 1. Product: Legal risk management for the APAC Markets business, with a focus on index licensing and equity derivatives/structured products (OTCs and notes) originated by the business of EFS Solutions into the Non-Japan Asia ("NJA") region. There is an emphasis on risk and control governance, and a range of cross border distribution matters in NJA. The role proactively supports the business of EFS Solutions under the firm's risk and control frameworks and drives positive client outcomes for the business. The candidate will be required to become familiar with Barclays' internal Retail policies and related governance framework (including the Intermediate and Retail Handbook and related Global Retail Distribution Policy, as well as the IB Retail Framework) in support of the day-to-day advisory role for the distribution business.
2. Regulatory: Legal analysis and risk and control input into the implementation of regulation relating to a number of North Asia countries which may include AML/KYC, outsourcing, resolution and recovery planning, cross border activities. Coverage also includes implementation of a global regulation in NJA relevant to the product coverage.
Key Accountabilities Products · Reviews and approves index licensing transactions for Barclays' proprietary indices and advises from NJA product legal perspective on index licensing transactional agreements. Reviews marketing materials and issuance documentation relating to Barclays' proprietary indices linked structured products issued by third party index licensees. Advises on risks, governance and control aspects and documentation for equity-linked and index-linked structured products for distribution into NJA, including the distribution of equity-linked notes ("ELNs") to target end investors in NJA and documenting equity-linked OTCs under ISDA Master Agreements. · Maintains equity-linked termsheet templates in support of the flow derivatives business of EFS Solutions.
Distribution · Supports and advises the business on the IB Intermediate and Retail framework (the framework) and related policies and governance requirements. · Inputs on written submissions made to the Retail Distribution Forum (RDF) on the escalation of risks, new business proposals and/or deviations from the framework. · Advises on distribution of Barclays' structured products into NJA, including negotiating the relevant distribution agreements and application of relevant global regulation. · Shares responsibility for the development and implementation of Barclays' Legal and Compliance policies and procedures and key risk assessments.
Regulatory Implementation · Contributes to regulatory projects and global initiatives relevant for Barclays IB Asia, including work streams for implementation of MiFID II, netting opinions and global EFS Solutions governance projects · Advises on cross-border marketing and distribution into NJA with a focus on Korea, including co-ordinating with external counsel, the business and various Legal and Compliance stakeholders in finalizing the relevant internal policies, procedures and guidelines.
Key Technical Knowledge and Commercial Considerations · Negotiation of Legal Agreements : Advises on and negotiates agreements documenting the distribution relationship with various distribution channels, which includes index licensing agreements with Barclays' proprietary indices' licencees. Candidate is required to understand the internal and external business context, and display strong communication and negotiation skills when negotiating legal agreements directly with internal or external counterparties to ensure Barclays' interests are addressed. · Cross-border Activities : Contributes and keeps abreast of Barclays' cross-border policies, and the related legal and regulatory developments in NJA. · Equity linked structured products : Possesses technical knowledge specifically in ISDA equity definitions and the Barclays Global Structured Securities Programme (or equivalent note programme) with a focus on the equity and index linked products to advise on the preparation of termsheets and upkeep of termsheet templates.
Risk and Control All Barclays colleagues have to ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards.
Leadership and Management of Stakeholders Effectively manages relationships with business and infrastructure partners in order that Legal can be productively involved to support the responsible core business areas and in a timely manner.
Person Specification · Qualified English law solicitor/attorney (or equivalent jurisdiction). · Good understanding of and interest in following topical developments in regulatory change and derivatives throughout Asia · Strong preference for Chinese language skills for product issuance into Taiwan and China · Ability to manage people and time and take responsibility as lead lawyer for the coverage areas · Prior experience as an in-house IB lawyer preferred, with technical knowledge in ISDA equity definitions and the distribution of Equity Linked Notes.