Regulatory Counsel/Senior Counsel

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JOB PURPOSE 

This position functions as the legal counsel supporting CIBC’s Capital Markets business in Europe & Asia Pacific operating via the Canadian Imperial Bank of Commerce regional registered branches and wholly owned regional subsidiaries.

The overall purpose of the job is to provide non-contentious financial services and other non-transactional regulatory related advice to ensure CIBC Capital Markets complies with its regulatory obligations in Europe & Asia Pacific, while helping business leaders achieve business goals in a manner consistent with sound risk management. The role provides input and supports on the negotiation of regulatory related provisions in commercial agreements and provides oversight to external counsel.

KEY ACCOUNTABILITIES

Value Added Partner

• Fulfill commitments embodied in the Legal Department mandate.
• Active member of the European Regulatory Committee and any equivalent committee for Asia Pacific.
• Fulfil Legal, Europe’s obligations under the Regulatory Compliance Management Policy for the purposes of regulatory changes impacting non-financial corporate reporting for regional subsidiaries.

Transaction and Litigation Support

• Supports Head of Legal, Europe & Asia Pacific as needed.
• Providing proactive and strategic legal support on non-contentious financial services and other non-transactional regulatory requirements to ensure CIBC Capital Markets complies with its regulatory obligations in Europe and Asia Pacific, overseeing external counsel engagement (where necessary).
• Partnering with enterprise and regional oversight functions to provide regulatory advice and to ensure consistency and efficient operationalisation of advice to maintain sound risk management.
• Supporting enterprise and regional oversight functions by advising on regional corporate governance processes to ensure regional oversight and approvals are completed the purposes of regional regulatory change initiatives.
• Lead Legal’s role in providing cross border legal advice by managing Legal’s cross border regulatory knowledge management portal and partnering with Legal and Compliance to support obtaining and communicating product specific cross border regulatory advice effectively and providing input into policies and procedures relating to the same.
• Attend as the representative for Legal all regional governance and enterprise committees related to regulatory change initiatives impacting Europe & Asia Pacific.
• Facilitate adequate management MI/trackers across all aspects of legal coverage and responsibilities for regulatory advice to ensure activity is tracked, assessed and reported on.

Internal and External Business Development/Client Service

• Monitor legal and regulatory changes in the relevant jurisdictions to assess the impact on relevant lines of business, and identify new business opportunities and/or regulatory risks.

Risk Management

• Identify legal risks, and significant incidents of non-compliance, and escalate these to global Legal team and senior management of the relevant region, ensuring such risks are properly understood. Where possible, propose appropriate risk mitigation.

Operational/Business Effectiveness

• Ensure that solutions are tailored to meet operational as well as regulatory requirements. Requires ongoing coordination among multiple functional groups and executive management and cross-border deals committees and a solid working knowledge of the financial, operational and technology specifications supporting a product or service. This is particularly important with regard to the firm’s trading and transactional businesses and the bank’s strategic initiatives in the regions.

Product/Services Development and Implementation

• Ensure Department assumes a proactive and strategic role in the approach to identifying, seeking advice on and implementing changes in regulation impacting CIBC in Europe and Asia Pacific.
• Day to day technical coverage involving statutory, case law and regulatory interpretation and advice; deal/transaction-specific legal support and provision of legal opinions to clients/third parties; contract and new product review.

CROSS-FUNCTIONAL RELATIONSHIPS

·Frequent contact with business and regional management to identify and discuss business issues and needs and to provide consistent and time-sensitive advice.

·Regular contact with industry peers, both individually and through industry associations, to discuss emerging concepts, practices and experiences and to strategize on approaches to proposed regulatory actions.

·Regular contact with local counsel throughout the regions to ensure clear advice, manage costs and keep abreast of legal and regulatory reforms regionally.

COMPLIANCE REQUIREMENTS/RESPONSIBILITIES

• As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.  

AUTHORITIES/DECISION RIGHTS 

• As a key contributor to the business unit, this job has the authority to recommend changes to business processes in order to enhance operational efficiency and effectiveness.

KNOWLEDGE AND SKILLS

• Qualified to practice law in England & Wales, Luxembourg or another EU jurisdiction, Hong Kong, Singapore or Australia, with the relevant university qualification in that jurisdiction and not less than 5 to 8 years post-call experience.
• Solid technical knowledge of the regulatory framework and primary sources of regulatory requirements affecting a credit institution operating via locally registered branches or locally authorized credit institutions and securities and banking laws in the UK and one or more of the following jurisdictions: Luxembourg or another EU jurisdiction, Hong Kong, Australia, Singapore, Japan and China or willingness to expend the effort and time required to learn the same.
• General awareness of legal and regulatory frameworks in other countries, sufficient to identify issues and retain appropriately qualified local counsel.
• Problem solving skills sufficient to maximize the solutions available within a given regulatory context.
• Knowledge of CIBC’s global practices, procedures and policies sufficient to interpret and analyze complex concepts and apply in an innovative way to a diverse array of products and services.
• Ability to effectively manage cost constraints and need for cost-effective solutions (e.g., cost control/reduction initiatives such as keeping legal projects in-house; rigorous use of approved law firms with rebated fees).
• Advanced communication skills sufficient to effectively deliver the message within an appropriate legal framework, without sacrificing creativity or subtlety.
• Influential skills sufficient to shape the decision-making process in situations where there may be a natural resistance to the advice.

WORKING CONDITIONS

·This role operates within a normal office environment.

What you need to know

• CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com
• You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit

Job Location

150 Cheapside, London, UK

Employment Type

Regular

Weekly Hours

35

Skills

Banking Laws, Banking Laws, Business, Business Contracts, Business Development, Business Effectiveness, Business Opportunities, Business Policies, Business Problems, Business Processes, Business Transactions, Communication, Compliance Management, Compliance Requirements, Contract Negotiations, Cost Controls, Cost Effectiveness Analysis, Cost Efficiency, Cost Management, Critical Thinking, Cross-Functional Teamwork, Decision Making, Facilitation, Initiating Change, Law Firms {+ 15 more}