Closing Date: 23rd February, 2023


Our people work differently depending on their jobs and needs. From hybrid working to flexible hours, we have plenty of options that help our people to thrive.

This role is based in the United States and as such all normal working days must be carried out in the United States.

This job description is intended to describe the general requirements for the position. It is not a complete statement of duties, responsibilities or requirements of the role. Other duties not listed here may be assigned as necessary to ensure the proper operations of the department and the business.

This role is based in the United States and as such all normal working days must be carried out in the United States.

The US Legal Department of NatWest Markets is looking for a Legal Counsel to provide transactional support to NatWest Markets Plc, a CFTC registered, non-US based Swaps Dealer and NatWest Markets Securities Inc., a US based Broker Dealer. The main products of NWM include FX, Rates, Prime Brokerage and Securities (cash markets and repo).

The candidate’s primary responsibilities include providing (i) regulatory advice for transactional activities carried out in the US in accordance with the Dodd-Frank Act, U.S. Securities laws, together with related regulations, and (ii) transactional support including document review and drafting for complex transactions, and (iii) working closely with the US documentation team.

We are looking for a self-directed person with careful attention to detail who is comfortable interfacing with the business and multiple support areas. Demonstrated ability to successfully collaborate across internal functions, products and documentation types is essential.

Regulatory Advice:
  • Trusted business partner to advise NWM on its trading activities and other client services in an efficient, practical and well-controlled and compliant manner.
  • Track developments in trading related regulations (new or changes to existing) and advise NWM on impacts to its business. Participate in industry association working groups (SIFMA, ISDA, etc.).
  • Participate or lead, as appropriate, on internal working groups to support on-going compliance with regulations.
  • Review and maintain trading documentation templates and track the updating or implementation of various policies and procedures relating to supported businesses, especially as they relate to uncleared swap margin, external business conduct, swap trading relationship documentation, and product classifications from the perspective of a non-US Swaps Dealer or broker dealer. Provide advice and support to other NW Group entities on cross-border legal issues.
  • Collaborate closely with U.S. Compliance officers and Legal counterparts in London, and to a lesser extent APAC, on the impact of non-US regulations on the U.S. business, on-boarding, pricing, and other support functions to ensure global consistency and best practices as well as advise on US regulations for their transaction flow.
  • Provide advice on new products and services to US based customers on the impact, if any, from Dodd-Frank or broker dealer regulations. Design practical and effective solutions as appropriate.

Transactional Support:
  • Support transactions involving complex products and/or complex negotiations.
  • Assist senior transaction counsel in providing legal support to a team of US based senior negotiators across a variety of master trading agreements (e.g., ISDA/CSA, MRA/GMRA, CDEAs, FX prime brokerage agreements, control agreements) and ancillary documentation for different counterparty types (e.g., corporates, hedge funds, separately managed accounts, private funds, etc.).
  • Participate in industry association working groups (SIFMA, ISDA, etc.) to monitor development of industry standard trading documentation and if applicable or appropriate, implement developments to practice to keep pace.
  • Collaborate closely with Legal counterparts in London and APAC on changes to existing documentation templates and terms to ensure global consistency and best practices.

Qualifications and Attributes
  • Demonstrated understanding of the Dodd-Frank Act and related regulations affecting swap dealers and security-based swap dealers, including applicable SEC, CFTC, and NFA rules and regulations.
  • Fundamental knowledge of US securities laws and regulations applicable to US broker-dealers (e.g. 15a-6) and other SEC regulations.
  • JD required. At least 6-10 years of law firm, broker-dealer and/or in-house legal experience at a market making investment bank. Prior experience at a swap dealer preferred.
  • An ideal candidate should understand not just the requirements of applicable regulations, but as importantly, their impact to NWM, and to NW Group, at a pragmatic and practical basis (appropriately balancing legal risks with commercial considerations), and to trading documentation. Demonstrated ability to think and work outside one’s core area of responsibility strongly preferred.
  • High degree of personal integrity, credibility and judgment. Substantial experience partnering with business, senior management, and other support functions on ad-hoc or project matters. Close collaboration with Compliance officers is essential.
  • Excellent communication skills (with the ability to tailor the focus and complexity of written and oral advice to different audiences).
  • Superior organizational, administrative, and interpersonal skills. Ability to work independently, take ownership of important issues and be an effective second line of controls.
  • Experience working under pressure to meet competing demands and priorities.
  • Curiosity, pro-activeness, and desire to learn and grow.

The expected base annual salary range for this position is $192,000 - $254,000 at the start of employment. This is not a guarantee of compensation. The exact compensation is determined on an individualized basis and may vary based on skills, experience, training licensure, certifications and location. In addition to base salary, our total rewards package also includes eligibility for an annual discretionary bonus; medical, dental, and vision plans; life and disability insurance; employee wellness programs; retirement and savings plans with potential employer contributions; generous paid time off policy, parental leave and tuition reimbursement.

It is the policy of NatWest Markets Securities Inc. and its parent, affiliates and/or subsidiaries to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, ethnicity, religion, gender, sex, pregnancy/childbirth, age, national origin, sexual orientation, gender identity or expression, disability or perceived disability, genetic information, citizenship, veteran or military status, marital or domestic partner status, or any other category protected by federal, state and/or local laws. Equal Opportunity Employer -Disabled/Veteran – review "EEO Is The Law", “EEO is the law- Supplement” & “Pay Transparency Provision” posters here.