Managing Director and Counsel, Head of Global Markets - New York, United States - Crédit Agricole CIB

Description

Summary

Credit Agricole Corporate and Investment Bank (CACIB) seeks a senior capital markets transactional lawyer to act as Head of Global Markets Legal (GML) for the Americas. Based in New York, the position will report to the General Counsel for CACIB Americas with a dotted line to the Global Head for GML (sitting in Paris). The Head of GML Americas will be directly responsible for managing a team of attorneys in New York and coordinating with regional hubs in Canada and Brazil. Covered businesses include the full array of capital markets, derivatives, and securitization products and services engaged in by CACIB in the Americas, including debt and equity capital markets, term ABS, strategic equity transactions, the bank's MTN and CP programs, securitization (direct and through the bank's U.S. ABCP conduits), and related investment banking and advisory activities. The Head of GML Americas will also be responsible for CACIB's derivatives and repo activities conducted in the region, having as a direct report the head of master agreements coverage for the region (also sitting in New York). The Head of GML Americas will be part of a global legal department, actively participating in management meetings driving the agenda of GML, supporting the planning and implementation of global strategic projects, and working closely with partners in compliance, risk, and finance as well as the front office. The successful candidate will (1) be familiar with all disciplines covered by the team, with strong subject matter expertise in core capital markets activities, (2) demonstrate a track record of strong management skills and change management capacity in a sophisticated and challenging business environment, (3) have a creative, adaptable, solutions-oriented, and client-focused mindset, and (4) adopt a thoughtful and collegial approach with internal colleagues across the bank.

Main Responsibilities

The Head of GML Americas is responsible for managing and supervising the GML teams in the Americas including NY. Ensuring appropriate legal coverage for the GMD, global investment banking (GIB) and other business lines covered by the Americas GML team and coordinating as appropriate with respect to coverage for cross-entity/branch transactions. The GML lawyers based in New York report hierarchically into the Regional Head Americas. The GML lawyers supporting GMD on a full time basis in the other jurisdictions will report functionally to the Regional Head Americas.

The GML team legal coverage includes:

• Supporting the Global Markets and GIB Divisions and other divisions covered by providing legal services (in both a transactional and advisory role) covering the full range of CA-CIB's activities for Global Markets and other business lines covered by the team.
• Securitization in GMD – conduit related, ABS and project bonds;
• ECM transactions, including ATMs (at the market offerings), convertible bond issuances, secondary sales, 10b5-1 agreements, etc.
• Strategic equity transactions (SET), including forwards in conjunction with ATMs, total return swaps and other equity derivative transactions, ASRs (accelerated share repurchases).
• US Commercial Paper Program in Treasury.
• Supporting the Global Markets Division by providing, or mandating and managing the provision of external, legal advice in relation to the structuring, negotiation and execution of transactions across a broad range of derivative and structured products including the US Medium Term Note Program, note issuances under the program and bespoke derivatives confirmations.
• Management of distribution matters including negotiation of Distribution Agreements with private banks, asset managers and other distributors of CACIB issued securities, and maintenance and updates of the Distribution Agreement templates and procedures.
• Debt Capital Markets transactions, US MTN programs and standalone public bond issuances with issuers in the region.
• Derivatives such as ISDA and associated trade confirmations (when applicable), CSAs and Cleared Derivatives Execution Agreements. Advising on relevant security and collateral questions and updating the legal opinion reviews.
• Repurchase agreement ("Repo"), Sponsored Repurchase ("Sponsored Repo") and securities lending agreement ("Sec Lending") negotiations.
• Active involvement in specialised projects (e.g., LIBOR cessation, ISDA protocol adherence, participation in industry groups, etc.).
• Assessing and implementing changes that are required in documentation due to derivatives reform (largely stemming from the Dodd-Frank Act).

The Head of GML Americas will be expected to:

• Drive for high quality product support and proper functioning of the Practice Groups (PG).
• Liaise with Product Heads and the Global Head on staffing, performance requirements, targets and appraisals for PG members in the region.
• Participate in industry-wide initiatives and acting as or designating someone from the GML team as CACIB's representative on various ISDA Product or Policy Committees.
• Manage the GML teams in NY by driving a culture of professional excellence and agility, as well providing effective leadership of the team.
• Liaise with Product Heads across the GML global organization to ensure best practices consistency and continuity of standards across CACIB.
• Maintain awareness of market changes and regulation, and the potential legal impact.
• Provide legal input in approval process of global market's new products or activities.
• Be involved in projects regarding automation of the production of legal documents and new business initiatives.

Legal & Regulatory Responsibilities

• Provide ad hoc advice and updates on current developments to relevant legal teams, businesses or support functions.
• Assist in drafting and updating templates and assist with the negotiation.
• Maintain a thorough knowledge of relevant banking and financial services business (and its regulatory environment), in particular Global Markets.
• Mandate and manage external law firms, as required and in accordance with applicable policies, in accordance with the activities within the scope of Global Markets.
• Comply with all applicable legal, regulatory and internal Compliance requirements as published.
• Complete all mandatory training as required to attain and maintain competence.
• As a manager and Regional Head to be responsible for the implementation of internal systems and controls and ensuring staff adhere to the requirements.

Key Internal contacts

Front Office and Support Functions (e.g. Risk, Compliance, Finance)

Global Head, Regional Heads, Product Heads and General Counsel Americas

Key External Contacts

External Counsel

Industry Associations

Knowledge and Skills

• NY qualified
• At least 12 years' relevant experience in a combination of sophisticated law firm and in-house (financial services) legal practice
• Management experience
• Proven leadership and change management skills
• Excellent and wide-ranging product knowledge and expertise, covering most if not all of the areas on which the team advises
• Excellent general legal knowledge
• Excellent drafting skills and knowledge of current market standards/practices
• Strong communication skills
• Excellent analytical skills
• Team player who leads by example
• Adaptability
• Change management
• Familiar with legal tech innovation