STATE STREET GLOBAL MARKETS
Our State Street Global Markets division provides specialized research, multi-asset trading, securities lending and innovative portfolio strategies to owners and managers of institutional assets. Our goal is to enhance and preserve portfolio values for our customers through original investment behaviour research, proprietary portfolio and risk management technologies, trading optimization and global trade connectivity. We support a variety of solutions for customers across a variety of businesses including principal and agency securities lending, principal and agency foreign exchange trading and agency brokerage, along with related products such as transition management, trading platforms, commission management, currency management and investor behavior research.
The State Street Global Markets Legal Team is a business focused team, currently comprised of over forty attorneys across State Streetoston, London and Hong Kong offices. The role will report to the Senior Vice President and Managing Counsel for the North American Enhanced Custody, Agency Securities Lending and Portfolio Solutions legal teams within Global Markets legal. The Global Markets legal team reports through to the Executive Vice President and Head of Legal for Global Markets, Global Exchange and Global Operations.
THE ROLE Provide legal support for all aspects of State Street Bankrincipal securities lending (referred to as anced Custodywhich is similar to traditional prime brokerage. The candidate will be responsible for duties including the following:
- Drafting and negotiating legal contracts and documentation for the Enhanced Custody, including MSLA, bespoke principal lending documentation and netting documentation and the ability to craft new forms of documentation for use globally as required;
- Collaborating with U.S. and global legal colleagues to effectively and efficiently onboard new Enhanced Custody clients;
- Conducting netting, enforceability, jurisdictional and other reviews;
- Advising on global applicable laws and regulations generally and in the context of Enhanced Custody trading activities, including advising on U.S. Securities Based Swap Dealer regulation and working cooperatively with global legal colleagues to analyze and advise on relevant EMEA and Asia Pacific regulations;
- Providing legal analysis in connection with changes to existing Enhanced Custody product offerings and new product offerings.
- Active involvement in the preparation of legal analysis to be put before internal new product approval committees and liaising the Executive Vice President and Head of Legal for Global Markets, Global Exchange and Global Operations at key stages of the process;
- Assisting with regulatory inquiries;
- Providing legal support to senior global business colleagues in connection with the future launch of an equity swaps business, including the Global Head of the EMEA Enhanced Custody and Equity Swaps business;
- Drafting and negotiating legal contracts and documentation for a future the Equity Swaps business, including ISDA, CSA, Master Confirmation and Trade Acknowledgement documents;
- Managing consultation process with external legal counsel;
- Ensuring all internal legal templates, policies and guidelines are understood and implemented and are up to date against applicable legislation.
THE CANDIDATE The ideal candidate will possess the following qualifications and skills:
- Juris Doctorate from an accredited law school;
- License to practice in Massachusetts;
- 6 years of experience in a major law firm, or equivalent in-house experience;
- Experience with securities lending, prime brokerage and/or equities derivatives arrangements preferred;
- Experience working with a global client base and knowledge of Dodd-Frank preferred;
- Strong and sophisticated drafting and negotiating experience;
- Results-oriented with strong project management and execution skills;
- Strong interpersonal, communication and customer service skills with ability to sustain strong relationships with clients, peers and staff;
- Ability to interact with multiple levels in an organization and in multiple jurisdictions;
- Keen understanding of market practice impacting the business lines in the relevant jurisdictions and ability to work with business units to achieve practical solutions within applicable regulatory and risk parameters;
- Strong time management, planning and organizational skills;
- Ability to work independently but also thrive in a global, dynamic and team-oriented environment;
- Flexibility and an eagerness to learn;
- To be located in Boston, MA
The above cited duties and responsibilities describe the general nature and level of work performed by people assigned to the job. They are not intended to be an exhaustive list of all the duties and responsibilities that an incumbent may be expected or asked to perform.
