Senior Legal Counsel, US Wealth and Personal Banking (WPB) - Credit and Lending
Location: New York, New York
Type: Full Time
Internal Number: 0000G5V6
This role is an essential part of the U.S. Wealth and Personal Banking legal team. The successful candidate will advise and support front office staff and our mortgage and credit advisory teams across multiple business lines on a wide variety of domestic and cross-border consumer and commercial loan transactions and credit products. The scope of coverage may include commercial and residential real estate loans, Lombard loans, art loans and complex structured loans, as well as secured and unsecured closed end and revolving consumer credit products. The diversity of HSBC’s business, its geographic spread and evolving strategic initiatives means the diversity of matters in scope for this role is very expansive. The successful candidate will:
Provide legal advice and guidance to the credit and lending business relating to a wide variety of domestic and cross-border consumer and commercial loan transactions and credit products.
Review, draft and amend relevant documents, including term sheets, confidentiality agreements, borrower organizational documents, legal opinions and other customary pre-loan and loan closing documentation.
Advise and guide the business with respect to transaction structures and the management and mitigation of attendant legal risks.
Address regulatory issues applicable to various credit and lending products.
Work independently, seek out and maintain internal client relationships and interact appropriately with internal clients including senior management.
Proactively take responsibility for issues, questions, and transactions with the goal of driving to successful and creative solutions.
Impact on the Business/Function
Members of the Legal function are trusted advisors to the businesses we support. The successful candidate will be able to create and deepen relationships with the business team to become a primary point of contact for credit and lending legal support. Providing prompt, commercially sensitive and pragmatic legal support to the business is essential.
Internal Stakeholders include personnel from Mortgage Operations, Credit Advisory, Risk, Chief Control Office, Regulatory Compliance, Financial Crime Compliance, Tax and Legal.
Leadership & Teamwork
Possessing deep subject matter expertise in the credit and lending space is only part of this role. The successful candidate is also expected to demonstrate a willingness to share their knowledge with other members of the legal function, provide training to business partners as appropriate and support global colleagues on cross-border credit and lending questions. We also highly value lawyers who are willing to go beyond their area of expertise and demonstrate a willingness to expand their knowledge base to take on a diverse range of matters as necessary.
Operational Effectiveness & Control
Lawyers within the Legal function are expected to manage external legal spend effectively. This is achieved through adherence to internal policies and procedures for retaining external counsel, obtaining reasonable budgets for anticipated legal work and overseeing external counsel activities in a cost effective manner.
Management of Risk
The successful candidate will function as a Legal Risk Steward within their area of expertise. Sensitivity to legal, operational and non-financial risks is required, particularly in the context of changing market conditions, business restructuring and the impact of developing technology. This role will work closely with Regulatory Compliance to ensure legal and regulatory risks are appropriately identified and addressed and the successful candidate is expected to promptly escalate material legal risks to senior management.
Observation of Internal Controls
The successful candidate must adhere to, and direct the business to adhere to, internal control standards. This will be achieved by maintaining familiarity with policies, processes and procedures, and developing close collaboration with Regulatory Compliance, Risk and the Chief Control Office. Timely implementation of internal and external audit points, including issues raised by external regulators is essential.
Employment eligibility to work with HSBC in the U.S. is required as the company will not pursue visa sponsorship for these positions.
JD from an accredited Law School
Admitted to Bar in at least one state
Minimum of eight years of corporate legal experience in a major law firm and/or in-house legal department of a bank or financial services company focused on supporting a variety of loan transactions and credit products. Thorough familiarity with the relevant issues and customary documentation and ability to manage and mitigate legal risks associated with a lending portfolio.
Demonstrable experience with a wide range of credit facilities and collateral types, consumer lending, private client lending, workouts/special credits and real estate lending will be considered distinct advantages, as will be knowledge of the credit aspects of OTC derivatives trading and foreign exchange, and previous experience supporting lending strategy development and credit product development projects.
Broad knowledge of federal and state regulations applicable to credit and lending transactions.
Knowledge and experience with commercial and/or residential real estate and cross-border lending transactions and regulations is highly desired.
Experience with asset sales, including whole loan sales on a servicing released or retained basis, is a plus.
Ability to quickly apply abstract concepts of law and make quick, innovative decisions to resolve problems.
Strong advocacy, negotiation, interpersonal, organizational, verbal and written communication skills.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
HSBC is one of the world’s leading international banks. Whether you are looking for a first job or taking the next step in your career, we offer many ways for you to realize your ambitions. Come and work with us and you'll have opportunities to make connections all over the world and help build the bank for the future.
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