Overview of Citi:
Citi, the world leading global bank, has approximately 200 million customer accounts and a presence in more than 160 countries and jurisdictions worldwide. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Citi enables clients to achieve their strategic financial objectives by providing them with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity.
Citi’s Legal Department in Belfast is made up of approximately 100 staff, supporting products and services across Citi’s Europe Middle East and Africa region (known as “EMEA”). The Legal Department in Belfast was established in 2007.
The Belfast Legal Department provides support and advice across a wide range of business areas including markets (incorporating derivatives and structured products), IP/IT and procurement, litigation and sanctions, regulatory reform, custody services, trade and treasury finance, capital markets (both equity and debt), and consumer and private banking.
The position is within the Structured Products legal team as part of the wider Markets and Securities Services Legal function.
The Structured Products legal team in Belfast provides critical support to the dynamic and growing business of the Multi Asset Group and Global Spread Products (including credit markets), based in London and New York, who manufacture and distribute a wide range of Citi structured products to institutional, high net worth and retail investors.
The team works in close partnership with colleagues in Dublin, London, New York and Asia as well as with business partners across the globe to support the issuance of structured investment products in compliance with Citi’s policies and procedures.
The holder of this position will:
Have direct contact with the sales teams across EMEA and the structuring/packaging desks in London and New York on a day-to-day basis
Have the opportunity to build relationships with key business partners, internal legal colleagues and external counsel
Have responsibility for the management of a number of transactions at any one time
Draft, review and analyse the legal documentation for Structured Products originated by the Multi Asset Group and Global Spread Products businesses
Be involved in managing and documenting product life cycle events, such as unwinds, amendments and restructurings
Draft, negotiate and advise on Distribution Agreements governing the relationship between Citi and third party distributors of Citi Structured Products
Assist in maintaining critical issuance infrastructure by way of the annual programme updates and supplement process
Have the opportunity to work on document templating and automation projects to improve existing processes and procedures and create efficiencies, including by embracing technology solutions
working closely with partners in sales and structuring/packaging teams to translate the commercial terms of Structured Products trades into legally binding documents
drafting trade documentation
ensuring that appropriate pre- and post- trade processes that fall within the responsibility of the legal team are carried out – this includes co-ordinating the necessary corporate, tax and other approvals, managing execution, and liaising with external parties such as listing and paying agents to manage admission to trading, where applicable, and to help facilitate smooth settlement
working on the maintenance of issuance infrastructure, including the update and supplement of the disclosure and contractual documentation for the various programmes under which trades are issued, in accordance with regulatory requirements and as driven by business needs
drafting, negotiating and advising on documentation allowing for the sale and distribution of products in different jurisdictions, with a focus on managing Citi’s legal and regulatory risk
responding to queries from partners in sales and structuring/packaging teams relating to the programmes and individual trades
assisting in the continued improvement of existing processes, including collaboration with business management and technology teams to design new processes and automate routine documents and tasks, and ways of working to create efficiencies
The successful candidate will have the opportunity to:
undertake, as part of the wider Belfast Markets Legal team, a broad variety of tasks many of which entail direct and regular interactions with senior stakeholders, both regionally and globally, broadening their experience of Citi’s ICG products and services
experience, absorb and apply in practice comprehensive training on Citi’s issuance businesses and the products offered
build on pre-existing project management and prioritisation skills
develop an understanding of the regulatory environment which is relevant to the issuance and sale of structured investment products
work on investment products across the full range of asset classes, including equities, rates, commodities, and FX
Experience working in a legal or large service orientated organisation.
Good general commercial awareness is required – specific financial services experience (within either a legal or non-legal function) is desirable but not essential.
Direct experience of structured products or derivatives (such as ISDA Master Agreements) is desirable but not essential as the successful candidate will be provided with the technical training necessary to perform the role.
Strong communication and negotiation skills (written and verbal)
Ability to work within a team and independently
Attention to detail and accuracy
Ability to effectively project manage, to organise own workload, to prioritise and adapt to meet key milestones and deadlines
Takes responsibility for managing own files
Ability to work efficiently
Good command of English grammar
Quick to learn
Ability to work collaboratively with others, personable
Effective planning and organisation
Self-motivated, proactive and shows initiative
Customer service orientation
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.
Citi is an Equal Opportunities Employer