Senior Lead Counsel - Wealth Managed Investments Legal

Senior Lead Counsel - Wealth Managed Investments Legal
Region: Bertrange
Required experience: None
Environment: Company
Contract: Permanent position (Full-time)

Company description

Citi has had a presence in Luxembourg since 1970, providing global transaction services, global relationship banking and funds industry services. Our 300 employees proudly serve their local communities every day, providing banking, investment fund and global custody services to our valued customers. Citi is today's pre-eminent financial services company and was built to create a highly diversified financial services company that could act as one to deliver solutions to clients throughout the world. With the most diverse array of products and the greatest distribution capacity of any financial firm in the world, our 350,000 employees manage 200 million customer accounts across six continents in more than 100 countries.


This is a senior level position responsible for providing legal guidance and thought leadership to the business. The overall objective of this role is to provide legal support, advice, and guidance to the business.

This role requires a pragmatic, proactive attorney with thorough understanding of the Business, combined with a solid conceptual / practical grounding in the laws and regulations for the geographies in which we operate. Provides input into strategic decisions, exercising sound legal judgement to develop proactive, risk-appropriate, and commercially practical business-oriented solutions.

Responsibilities

  • Responsible for providing legal counsel to the Business, participating in strategic initiatives, providing subject matter expertise and interpretations of relevant laws, rules, regulations, and industry practices, and advising business management on legal matters impacting the business
  • Objectively evaluates Business proposals by applying institutional knowledge and risk appetite against industry standards, widely accepted business practices, laws, rules, and regulatory guidelines, escalating as appropriate
  • Collaborates across internal lines of business and control/support functions to achieve coordinated and efficient outcomes on matters of common interest; coordinate closely with the Legal team on a regional and global basis
  • Participates in business planning and development initiatives; contribute to business objectives by providing thought leadership using knowledge of industry, laws, and regulations
  • Proactively identifies, evaluates, and contributes to the appropriate management of legal, regulatory, and reputational risk by collaborating with ICRM & Risk, following relevant legal developments, participating in internal projects, escalating as appropriate
  • Manages day-to-day legal activities as a subject matter expert in area of responsibility and provide advisory services to business partners
  • Monitors management of complex legal issues and transactions, escalating when necessary
  • Appropriately assesses risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behaviour, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervises the activity of others and creates accountability with those who fail to maintain these standards

Qualifications:

  • Relevant industry experience, preferably in financial services
  • Expertise and experience in: i) Investment Management – experience of negotiating investment management agreements with clients, ii) Fund Distribution – experience of negotiating distribution agreements with fund providers for mutual and alternative funds, iii) Fund Structuring – experience of establishing and maintaining Mutual and Alternative funds, iv) Relevant regulations – experience of advising on/implementing key EU regulations such as ESG, MiFID, UCITS, AIFMD and PRIIPs
  • Knowledge of international laws, regulations and practices while staying abreast of regulatory and legal environment, internal policies and industry trends that impact the business
  • Experience with complex deals, demonstrated ability to analyse issues and develop legal solutions
  • Effective communication and negotiation skills and ability to build and maintain trusted relationships
  • Excellent interpersonal, organizational and relationship management skills
  • Proven ability to apply sound judgement while managing assignments in a demanding, fast-paced environment
  • Bar license in good standing to practice law

Education

  • Juris Doctorate or equivalent law degree

Additional job description:

1) Citi Investment Management (CIM) and related regulations:

  • Providing legal advice to the CIM business and its portfolio managers on tailored portfolio management solutions for CIM clients – advising on and taking independent decisions re management of legal risk, reputational risk, responsible business practices and client experience
  • Advising senior management in respect of new regional business initiatives
  • Negotiation of IMAs
  • Advising re interpretation and implementation of applicable regulations and applicable Citi policies

2) Mutual and alternative funds distribution:

  • Providing legal advice to the Global Managed Investments business on issues arising from the distribution of third party mutual funds as well as the Alternatives business in relation to distribution of Private Equity, Real Estate and Hedge Funds
  • Advising on and taking independent decisions re management of legal risk, reputational risk and responsible business practices and client experience
  • Negotiation of distribution agreements and advising on issues relating to mutual and alternative funds
  • Advising re interpretation and implementation of applicable regulations e.g. UCITS, AIFMD and applicable Citi policies

3) ESG – Analysis and implementations of ESG-related regulations:

  • Interpreting and advising the Managed Investments business re the application Environmental and Social Governance (ESG) rules, including the EU Taxonomy, EU MiFID and IDD ESG-related amendments
  • This is a new and developing area, regulations are complex and the Wealth business and the Global ESG Business will look to the Wealth Legal team to provide them with thought leadership and strategic guidance re interpretation and implementation

4) Structuring, establishment and ongoing advice in respect of Wealth’s proprietary funds:

  • Advising the global Managed Investments senior management team on the maintenance of a Luxembourg UCITS fund to enable Wealth to offer its market-leading discretionary management solutions to Wealth clients in pooled fund form as well as an existing Citi-managed Luxembourg SICAV for distribution into the EU
  • Advising Alternatives senior management re the establishment of feeder funds to enable clients to access PE/RE/HF strategies
  • Advising on applicable regulations in relation to investment funds, fund structuring and fund distribution

5) Private investment opportunities:

  • Advising on Direct Private Investment (DPI) business on distribution of DPI opportunities
  • Advising the PE/RE investment team regarding certain transactions led by them. This would involve the structuring and negotiation of PE/RE investment opportunities (including commingled funds, co-investments, and separately managed accounts) for distribution to Wealth’s global client base

Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.

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