Job Purpose:

This lawyer will be primarily responsible for providing legal advice to Citi’s European leveraged finance franchise and its restructuring and workouts team, which manages Citi’s distressed loan and other credit positions.  The position may also involve supporting the investment grade, emerging markets and export agency financing loans origination deal teams. As part of the internal control architecture, this lawyer will also ensure compliance with Citi policies and procedures.

Job Background/context:

The role sits within Citi’s Europe, Middle East and Africa (“EMEA”) Loans Legal team, which is part of the ICG Legal Loans team.  ICG Legal Loans is a global product legal team within Citi’s institutional legal function. It has lawyers and legal professionals in New York, London, Hong Kong, Tampa, Belfast and Mumbai.

The EMEA Loans Legal team provides legal coverage and support across EMEA for the Banking, Capital Markets and Advisory business (“BCMA”), the Export Agency Finance (“EAF”) business and the Citi Corporate Bank business.  BCMA arranges syndicated loans for our investment grade, emerging markets, and leveraged finance clients while the Corporate Bank arranges and participates in transactions for Citi’s corporate clients. EAF also arrange and participate in loans backed by Export Credit Agencies and other multilateral and development finance institutions.  The EMEA Loans Legal team also coordinates legal support for the Institutional Remedial Management team (“IRM”), Citi’s workout and restructuring group.

The Leveraged Finance business is engaged in helping clients raise finance through non-investment grade loans and/or high yield bonds.  Typical clients are high growth companies, frequently private equity backed.  The investment grade, emerging markets and acquisition finance loan desks provide working capital facilities for large corporates, sovereigns and sovereign-owned entities, as well as financing episodic transactions for those clients across the EMEA region.  The EAF loan desk provide asset financing solutions and a range of financing options designed to facilitate trade for clients across a range of sectors and regions.

Key Responsibilities:

The position involves:

·        Reviewing and negotiating documentation in loan transactions from inception to completion, including confidentiality agreements, legal opinions, commitment papers, credit agreements, intercreditor agreements, fronting letters, conditions precedent satisfaction letters and consent requests

·        Gaining familiarity with Citi’s policies and procedures, template documentation and internal knowhow, and completing Citi’s loans credit agreement checklist and classification review checklists, in line with policy

·        Updating knowhow, assisting in the development of new knowhow and tracking important documentation trends/negotiation flash points for the Loans Legal team

·        Working closely with legal secondees and other members of the EMEA Loans Legal team

·        Identifying legal risks and opportunities presented by transactions and ensuring that Citi’s policy, legal and regulatory standards are maintained

·        Liaising with other control groups within Citi, for example, Risk, Accounting Policy, Tax and Compliance

Development Value:

The successful candidate will have exposure to a wide variety of loan products provided by a market leading institution with an extensive international footprint.  They will also enjoy working in a dynamic, proactive legal team.

Knowledge/Experience:

·        Experience in advising on syndicated lending and/or restructuring

·        Familiarity with the LMA suite of documentation

·        Awareness of current topical issues affecting the loan market, such as Libor transition

·        Understanding of the commercial dynamics of the syndicated loan market

Skills:

·        Attention to detail and sound contractual interpretation

·        Able to apply legal judgement in a commercial context

·        Excellent technical skills and analytical ability

·        Strong time management and prioritisation skills

·        Ability to break-up and simplify complex issues and communicate concisely and clearly

·        Ability to work in a professional but demanding environment

Qualifications:

·        Solicitor qualified in England and Wales or equivalent from another jurisdiction with a right to practice in England and Wales

·        3-5 years PQE advantageous

·        Exceptional candidates with the necessary skills and type of experience will be considered for the position

Competencies:

·        Enthusiastic / confident / outgoing

·        Sense of humour / robust personality / resilience

·        Strong business judgement and commercial attitude

·        Good attention to detail

·        Ability to work to strict deadlines and without supervision

·        Co-operative, team-oriented style

·        Risk awareness

Valuing Diversity:

Citi Legal appreciates a diverse workforce and the differences in style and perspective such diversity brings.  We seek to use these differences to inform our actions and to enhance our success.

Demonstrates an appreciation of a diverse workforce.  Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.

Citi is an Equal Opportunities Employer