Legal Manager at Standard Bank Group

Legal: guidance across all areas and geographies to ensure: every transaction is appropriately negotiated, documented and implemented, losses arising from litigation are minimised, and legal issues carrying negative reputational consequences are avoided.

Job Purpose

Negotiation and management of Master Agreements (ISDA’s GMRA’s, GMSLA’s, Client Agreements, etc) and legal opinions for the Global Markets businesses in South Africa and Africa Regions to enable Global Market to trade derivatives, repo’s, securities lending and exchange traded products.

Key Responsibilities/Accountabilities

Keep abreast of industry specific knowledge and key developments

• Keep abreast of local and international developments which impact GM and International Swaps & Derivatives Association Master Agreements (ISDA’s), Global Master Repurchase Agreements (GMRA’s), Credit Support Annexes (CSA’s), Futures & Options Agreements (FOA’s), Global Master Securities Lending Agreements (GMSLA’s)
• Assist and oversee the management of existing agreements and templates to take account of legal, regulatory and other changes.
• Management and involvement in ad-hoc projects within GM Legal.
• Involvement in process improvement and enhancement of GM businesses.
• Research on ad-hoc legal issues pertaining to GM businesses across various jurisdictions.
• Represent the bank in industry working groups and/or committees such as the ISDA work group, ICMA (International Capital Market Association) workgroup and/or SASLA (South African Securities Lending Association) workgroup.
• Assist and oversee the management of existing agreements and templates to take account of legal, regulatory and other changes.

Assessing the impact of legislative and market developments

• Manage and be involved in project work related to the agreements, such as assessing the impact of legislative and market developments.
• Attend to various projects including, but not limited to, those relating to international legislative and/or documentation changes.

Assistance and advice on legal queries relating to provision of Guarantees

• Assist and advise on queries with respect to the operation and content of the agreements International Swaps & Derivatives Association Master Agreements (ISDA’s), Global Master Repurchase Agreements (GMRA’s), Credit Support Annexes (CSA’s), Futures & Options Agreements (FOA’s), Global Master Securities Lending Agreements (GMSLA’s), Give-Up agreements, JSE Client Agreements, novation agreements and any other agreements relating to over-the-counter derivatives, securities lending transactions, buy/sell-back transactions, repurchase transactions and other such supporting documentation, by demonstrating sound understanding and application of the documentation by leveraging off legal knowledge and experience.
• Conduct legal research on issues relevant to legal risk management as identified from time to time.

Ensure accurate and comprehensive drafting, vetting and review of agreements

• Scrutinise signed documentation and sign off such documentation together with any conditions precedent in order to authorise trading.
• Provide legal sign off on the content of the agreement, and other such supporting documentation that may be required
• Draft, vet and negotiate International Swaps & Derivatives Association Master Agreements (ISDA’s), Global Master Repurchase Agreements (GMRA’s), Credit Support Annexes (CSA’s), Futures & Options Agreements (FOA’s), Global Master Securities Lending Agreements (GMSLA’s), Give-Up agreements, JSE Client Agreements, novation agreements and any other agreements relating to over-the-counter derivatives, securities lending transactions, buy/sell-back transactions, repurchase transactions for SBSA, Africa Regions and other entities (from time to time)

Ensure a high level of accuracy

• Analysis and scrutiny of documentation for accuracy, by checking all agreements and supporting legal documentation for error(s) and any potential legal risk(s).
• Ability to maintain a consistent analysis and scrutiny of all agreements and supporting legal documentation, in a high-demanding, volume based and stressful environment.
• Ensuring all agreements and supporting legal documentation are issued in accordance with the Bank’s Framework requirements.
• Ensure that signed documentation is correctly captured onto the various departments’ document management systems

Management of Legal opinions

• Reviewing industry opinions pertaining to Master agreements (ISDA, etc)
• Providing input into the requisition of legal opinions or revision of master agreements.
• Management of external legal opinions required where no industry opinions are available.

Ensure efficient and effective stakeholder engagement

• Proactively develop and manage relationships with key external stakeholders including lawyers and GM business representatives, external legal counsel relevant to the business and external regulatory bodies.
• Build and develop relationships across the different legal teams and with various stakeholders including credit and compliance.
• Coordination of efforts with Legal teams across the African jurisdictions

Preferred Qualification and Experience

• Legal Degree
• Admitted South African attorney
• 3-4 Years - Post article experience in International Swaps & Derivatives Association Master Agreements (ISDA’s), Global Master Repurchase Agreements (GMRA’s), Credit Support Annexes (CSA’s), Futures & Options Agreements (FOA’s), Global Master Securities Lending Agreements (GMSLA’s), Give-Up agreements, JSE Client Agreements, novation agreements.