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At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.
To learn more about CIBC, please visit CIBC.com
Job Description
What You’ll Be Doing
As a member of the U.S. Capital Markets Legal team in New York, Counsel – US Equity Finance/Equity Derivatives will provide legal coverage for all activities, transactions, and legal and regulatory matters relating to the Equity Derivatives business in the United States.
The role will include providing legal and transactional advice in connection with various equity finance, derivatives, structured products and other transactions linked to equities and equity indices; providing regulatory advice in respect of requirements under applicable U.S. laws, including the Securities Act, the Securities Exchange Act, FINRA and CFTC rules and regulations, broker-dealer and margin regulations, and Dodd-Frank requirements; drafting, reviewing and negotiating all manner of transaction documentation; structuring and negotiating transactions; advising and supporting clients in new product development; following and advising legal and regulatory developments affecting covered products and businesses; working with multiple stakeholders within the firm (risk, tax, accounting, compliance, etc.) as well as with the primary business personnel; and coordinating/supervising activities of external counsel.
At CIBC we enable the work environment most optimal for you to thrive in your role. Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview.
How You’ll Succeed
- Engage with Equity Derivatives teams and with Sales teams to ensure that transaction execution and Legal risk management are being conducted in accordance with commercial objectives of the business and CIBC risk tolerance.
- Advise on a broad spectrum of equity derivative products including equity margin loans, fund financing, synthetic prime brokerage, equity index derivatives including proprietary indices and quantitative investment strategies, convertible bond and capped call transactions, issuer share forwards, related hedging transactions, and other equity swaps and options, as well as equity-linked notes and other structured products.
- Advise on regulatory issues including under Section 13 and 16 of the Securities Exchange Act, Section 5 of the Securities Act, the “Swap” and “Security-Based Swap” Rules under Dodd-Frank, Reg M, Rules 10b5-1 and 10b-18, and related regulations as they relate to equity derivatives.
- Advise Equity Finance/Equity Derivatives teams to ensure that transaction execution and Legal risk management are being conducted in accordance with commercial objectives of the business and CIBC risk tolerance.
- Maintain structured products program documentation for issuance platforms such as the U.S. shelf registration statement, review offering materials, product disclosures and marketing materials for compliance with applicable law and regulation, and actively participate in design in maintaining and designing disclosures appropriate for products being offered.
- Negotiate legal agreements with other financial institutions relating to structured products distribution, custody, index licensing, and other aspects of the structured products business.
- Advise trade documentation team as to derivative agreements such as ISDA Master Agreements, CSAs, and Master Confirmation Agreement for dealers and end users.
- Advise business teams as to the development of new products for equity derivatives and equity finance clients.
- Be responsible for advising the relevant businesses on regulatory developments and legal issues arising within the relevant coverage area and will assist the businesses in managing legal and reputational risks of the firm’s transactions and activities in the relevant coverage area.
- Manage projects and contract negotiations to ensure accurate and timely completion of initiatives and execution of documents within a framework of tight deadlines.
- Participate in development of knowledge of market and industry practices through ongoing review of issuances by various banks and dialogue with peers at other institutions.
Who You Are
- 6+ years practicing attorney including experience working at a financial institution, experience at a top tier law firm.
- Strong knowledge of US securities laws, including the Securities Act, the Exchange Act, FINRA and CFTC rules and regulations, broker-dealer regulations, and Dodd-Frank Title VII provisions as applied to swaps regulated by the CFTC and SEC.
- Strong familiarity with relevant ISDA documentation including, Master Agreement, CSA, and Equity Definitions
- JD degree or foreign equivalent and be admitted to the bar in New York
- Experience with structured notes is a plus
- Excellent written and verbal English language skills
- Will possess excellent legal analytical skills, with the ability to think creatively and identify innovative solutions as well as the ability to clearly articulate complex concepts and ideas.
- The ideal candidate will have proven skills in legal and regulatory risk management
- Will possess excellent stakeholder management and relationship skills combined with the ability to withstand front office pressure and exhibiting excellent negotiation and influencing skills and the ability to balance risk with reward in a commercial environment
What CIBC Offers
- At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.
- We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a health benefits program, and MomentMakers, our social, points-based recognition program.
- Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
- We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.
Conduct and Culture Risk
Our CIBC risk culture is based on employees striving to exceed the expectations of ourselves and our leadership’s identification and mitigation of risks in their daily responsibilities, not just in quarterly or annual monitoring/assessments. We all are accountable for managing risk.
As an employee of CIBC the incumbent must conduct themselves (and foster an environment for others) in a manner consistent with our strong risk culture. This includes:
- Following all aspects of the CIBC Code of Conduct, as well as all applicable CIBC policies, frameworks, guidelines, processes and controls
- At all times acting in accordance with our Purpose and shared values, to achieve our Bank’s strategic goals
- Understanding and following the qualitative and quantitative components of our Risk Appetite Statements
- Completing all annual Corporate Mandatory Training and Testing modules, as well as any additional business-specific modules, as required and employing the learnings in daily activities and undertakings
- Escalating matters through one of the appropriate channels identified in the CIBC Code of Conduct (i.e., HR, management, Ethics Hotline, Whistleblower, etc.) upon observing activities that may be inconsistent with CIBC’s policies, frameworks, guidelines, processes and controls, and where applicable, assist in the resolution of same
- Speaking up if witnessing behaviors that drive poor or unfair outcomes for clients, team members or other stakeholders
- Escalating matters that can result in adverse market practices and outcomes, thereby negatively impacting CIBC’s reputation as a leading financial institution
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $255,000 - $280,000 for the New York, New York market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave, and Vacation), Holidays, and 401(k), in addition to other special perks reserved for our team members.
Candidates hired to work in other locations will be subject to the pay range associated with that location. Additional total compensation and benefits details will be provided during the hiring process.
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
NY-300 Madison Ave., 7th Floor
Employment Type
Regular
Weekly Hours
40
Skills
Legal Practices
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