Mizuho
Legal Counsel, Derivatives - Vice President
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Profile Summary
We are seeking a commercially minded and technically strong lawyer to join our Derivatives and Structured Finance Legal team as a Vice President. The successful candidate will provide legal support to Mizuho’s derivatives business across EMEA, advising on a broad range of OTC derivatives transactions, particularly finance linked derivatives transactions, and related regulatory matters.
The role will focus principally on negotiating and advising on ISDA documentation and supporting Mizuho EMEA’s business promotion, trading and treasury businesses, particularly the Derivatives Risk Solutions EMEA group. Experience of securities financing transactions, including repurchase transactions and securities lending under the GMRA and GMSLA, would be advantageous.
This is a business facing role requiring sound legal judgment, strong drafting and negotiation skills and the ability to manage multiple stakeholders in an investment banking environment.
Duties And Responsibilities
Provide legal support to Mizuho Bank Ltd., London Branch, Mizuho International plc and Mizuho Bank Europe N.V. and their respective branches and subsidiaries within the EMEA region as follows:
- Negotiate, draft, structure and advise on a wide range of derivatives documentation used by the, including:
- ISDA Master Agreements (1992 and 2002)
- Credit Support Annexes (English, New York and other forms)
- IM documentation and collateral arrangements
- ISDA Resolution Stay Protocols and related adherence documentation
- Cleared derivatives documentation, including client clearing agreements
- FBF and DRV, with support from French and German counsel, respectively
- Certain structured rate lending agreements
- Advise front office, sales and trading, operations, credit risk, collateral management and other support functions on legal issues arising from derivatives trading.
- Provide legal advice on new products, transaction structures and strategic initiatives.
- Monitor for and support implementation of legal and regulatory change affecting derivatives markets, including new ISDA definitions, EMIR, UK EMIR, Dodd-Frank, MiFID II, SFTR, CDSR and other applicable regulations
- Advise on close-out, default, netting and collateral enforcement issues
- Work closely with credit, risk and compliance teams on legal risk management
- Contribute to internal legal policies, template documentation and legal training
- Support legal projects, regulatory remediation exercises and documentation repapering exercises
- (Desirable but not essential) Provide legal support in relation to GMRA, GMSLA, margin lending and other collateral arrangements
- Ensure any external counsel required to support on any transactions are appropriately instructed and supervised
- Ensure appropriate records are maintained for Legal Services, including the databases, directories and documentation management necessary to record transactions / matters worked on
- Support their manager to ensure know-how, policies, procedures and playbooks are maintained and reviewed at least annually and in response to any material developments
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Qualifications, Skills, And Experience
- Qualified solicitor of at least 4-8 years’ PQE, with experience gained through an international bank, a law firm with a derivatives or structured finance practice or a combination of the two
- Strong technical expertise in derivatives law and regulation, including strong understanding of ISDA documentation for corporate clients and counterparties
- Technical expertise with GMRA and / or GMSLA master agreements is an advantage
- Strong client service orientation
- Great organizational and time management skills, with ability to manage competing priorities and deadlines
- Excellent communication, negotiation and stakeholder management skills
- Demonstrable ability to innovate, support change and problem solve
- Demonstrable commercial judgment, balancing commercial objectives and legal risk
- Ability to work independently, while recognizing where escalation is appropriate
- Knowledge of financial services and structured finance is an advantage
- High attention to detail
- Cultural awareness and ability to work effectively with colleagues across different jurisdictions
- Collaborative nature to contribute to a successful team and departmental performance, fostering the spirit of teamwork and cohesiveness
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What Mizuho Can Offer You
Here at Mizuho, there are fantastic progression opportunities and clear paths to promotion. We will give you ample opportunity to affect change and to help grow our business.
In addition to the great opportunity outlined above we are also currently able to offer:
- Competitive starting salary, plus discretionary bonus
- Non-contributory pension
- 27 days’ annual leave
- Core working hours
- Hybrid working - office and home based
- Virtual GP
- Wellbeing benefits, including Mental Health Allies and First Aiders
For applicable roles only
At Mizuho, we embrace flexible ways of working when the role permits. We offer different working arrangements like part-time, job-sharing and hybrid (office and home) working. Our purpose-led culture and global infrastructure help us connect, collaborate, and work together in agile ways to meet all our business needs.
At Mizuho we are committed to supporting equality, diversity and inclusion, and seek to create a workplace that is fully inclusive. We welcome applications from all sections of the community that we operate in and from all ethnic backgrounds, sexual orientation, beliefs, gender identities and disabilities.
If you require more information about our equal opportunities policy or wish to discuss any accessibility requirements or reasonable adjustments please contact the recruitment team – recruitment@mizuhoemea.com and we will be happy to help.
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