Description of the Department
As part of the BNP Paribas Australia Legal Department, the BPSS Legal team comprises technical experts providing specialised in-house advisory services to the Securities Services business. The lawyers in the team work closely with the heads of business and partner with the various leadership teams to provide technical legal advice, support and control including on: contract drafting and negotiation; product development and approval; corporate governance; legal policy development and implementation; and key legal risk management.
Summary of the Role
Reporting lines: The Legal Counsel’s direct reporting line is to Head of Legal BPSS, Australia & New Zealand.
Location Coverage: This position is to service the legal needs of the BPSS business in Australia and New Zealand.
General Requirements: This role requires the Legal Counsel to possess maturity, operational and commercial judgement and experience and to demonstrate ability to build relationships with the business teams, teamwork and excellent interpersonal skills. The Legal Counsel will need to demonstrate applied knowledge of principles and practices of financial services law in Australia and New Zealand, strength in broad banking and securities law and product knowledge of custody, clearing, settlement, and managed fund operations would be very beneficial. Previous legal experience with another custodian would be viewed favourably. The Legal Counsel will have proven and effective analytical skills always seeking accuracy and quality in results and will be expected to develop independence of opinion.
Responsibilities: The responsibilities of this role include but are not limited to:
Taking an active part in the negotiation and establishment of agreements for new clients or new deals with existing clients. This may take the form of supporting sales and relationship managers in their commercial negotiations, or directly engaging with client’s legal advisors to resolve technical issues.
- Providing legal and regulatory advice to the business on new products and services and proactively anticipating legal issues and identifying future legal requirements.
Assisting in the review, negotiation and drafting of agreements (including amendments) with sub-custodians and other service providers, including IT vendors.
Drafting legal disclaimers, reviewing incident reports and providing legal advice in respect of good value claims.
Maintaining standard legal documentation for all products and services offered in Australia and New Zealand taking into account local requirements and global standards.
Keeping up to date with the regulatory and legal environment in Australia and New Zealand and maintaining legal and regulatory watch dashboards in accordance with BNP Paribas policy.
Assisting senior counsel to interpret legal and regulatory change in Australia and New Zealand and perform impact assessments including required changes to BNP Paribas Securities Services framework and standard documentation.
Communicating and maintaining BNP Paribas legal policies and procedures.
Providing reporting to Head of Legal BPSS, Australia and New Zealand, local BNP Paribas Securities Services Committees, and local management as and when required
Handling other legal matters across the BNP Paribas Group as may be required from time to time.
Qualification & Experience required for the role:
The successful candidate should have approximately 5+ years legal experience in the financial services sector from a top tier law firm or alternatively from another custodian bank or other financial institution – previous legal experience with banking and securities preferred. The candidate will be required to demonstrate an ability to operate independently and to apply judgement and knowledge to various situations, including regulation evaluation and change implementation. An understanding of project management and stakeholder management would be beneficial.
The candidate will have legal technical knowledge and qualifications and will have awareness in industry and organisational standards and possess the ability to apply this knowledge in supporting the BNP Paribas legal framework. The candidate will be familiar with the Australian financial services legal environment and have an understanding of banking and securities laws.
Technical Skills required for the role:
Sound knowledge of principles and practices of legal requirements in financial services in Australia (including securities and banking).
Up to date knowledge of regulatory requirements, as well as industry association initiatives in Australia.
Knowledge in financial services, financial markets and products – and their activity drivers. Specific knowledge of custody, clearing, settlement, operations and fund administration products and services would be highly beneficial.
Knowledge of the law pertaining to managed investment schemes and superannuation funds would be beneficial.
Knowledge of New Zealand legal principles would be advantageous
Core Competencies required for the role:
Technical/professional knowledge - Demonstrates a satisfactory level of technical and professional skills/knowledge in job related areas. Keeps abreast of current developments and trends in area of expertise
Planning & Execution - Establishes courses of action to ensure work is completed efficiently. Effectively manages own time and resources to meet deadlines and quality standards.
Team Orientation - Works with the team and the broader organisation towards shared goals and treats all colleagues and clients as partners. Executes effective escalation within the legal team.
Collaborative approach - Supports and shows respect for others. Works effectively with individuals, teams and clients.
Impact & influence - Creates a positive and professional impact on others. Uses effective engagement strategies with internal and external stakeholders. Exhibits persuasive representation of team and business objectives.
Individual Leadership - Uses an appropriate interpersonal style to inspire and guide colleagues towards goal achievement. Adjusts behaviour to accommodate tasks, situations and individuals.
Responsiveness - Adapts when facing new or unforeseen situations. Delivers required services on time.
Resilience - Continues to work effectively and pursue goals when faced with obstacles, periods of change and uncertainty, or resistance from others. Maintains effectiveness in uncertain or ambiguous situations.
Primary Location: AU-NSW-SydneyJob Type: Standard / PermanentJob: LEGAL AND TAXEducation Level: Other Degrees / Certifications / Vocational, Technical or Professional QualificationsExperience Level: At least 5 years
Behavioural competency: Ability to collaborate / Teamwork, Attention to detail / rigor, Organizational skills, Proactivity, Ability to share / pass on knowledge, Resilience, Communication skills - oral & writtenTransversal competency: Ability to conduct a negotiation, Analytical AbilityReference: GRO000249