Treasury Lawyer - Derivatives

Job Description

We are looking for a highly motivated, commercially focused derivatives lawyer to join our Treasury Legal team reporting into the General Counsel - Treasury. This is an important role which will play a key part in helping ensure that Nationwide achieves its strategic objectives. For us, it's not just about having the right technical expertise. You also need to be able to get things done, work collaboratively and be driven to learn and succeed.

As a lawyer in the Treasury Legal team, you'll support and deliver legal advice to the various teams within the Treasury function as well as to Business Banking in relation to their offering of hedging products. While the precise scope of the role will vary depending on Treasury demand and team resourcing there will be a number of key focus areas.

You will be required to manage, negotiate and advise on derivatives documentation and transactions including all aspects of ISDA documentation, clearing arrangements and initial margin agreements. The same will also be expected with repo documentation and transactions.

Reviewing and maintaining appropriate processes relating to ISDA/ICMA netting and collateral opinions will also be a key aspect of this role, and you'll be required to give your advice on UK EMIR and other relevant derivatives regulation and market practices.

Beyond this, managing and advising on derivatives aspects of secured funding programmes and of course, building strong and enduring relationships with internal clients and stakeholders will be expected. This will include external counsel and market participants.

In addition, you are likely to be assisting in managing programmatic debt issuance (both secured and unsecured) and standalone transactions listed across a range of UK and offshore exchanges.

You will also keep an eye on what's on the horizon by monitoring any changes in legislation, regulation and the wider market. Using that knowledge and insight you'll help shape our processes and ensure our policies and procedures evolve in line with changing requirements, working with others to anticipate where future legal problems and issues are most likely to arise and to devise effective controls to mitigate them.

The Treasury Legal team sits on the Treasury front office trading floor which allows us to be in close communication with our clients and stakeholders, whilst also forming a core part of the Legal and Secretariat function.

At Nationwide we offer hybrid working wherever possible. More rewarding relationships are supported through our hybrid approach, bringing colleagues together across our UK wide estate, whilst also supporting generous access to home working. We value our time in the office to solve problems, to learn, and to feel connected.

For this job you'll spend at least two days per week, or if part time you'll spend 40% of your working time,
based at our London office. If your application is successful, your hiring manager will provide further details on how this works. You can also find out more about our approach to hybrid working here.

Nationwide is committed to the redeployment of our employees impacted by change, as such applications for redeployment candidates will be prioritised in this recruitment process.

If we receive a high volume of relevant applications, we may close the advert earlier than the advertised date, so please apply as soon as you can.

You'll use your expertise to provide strategic legal advice and support on all aspects of derivatives and repo documentation and transactions and regulation. You will use your expertise to consult and deliver on longer term projects involving regulatory updates, changes to our operating procedures and provide advice to our investor relations and sustainability teams. You may also assist in debt issuance, programme maintenance and other aspects of securities issuance.

• Be a solicitor qualified in England & Wales with excellent academic credentials
• Have experience in an in-house role within financial services or experience at a reputable law firm doing derivatives work
• Be adept in bank/building society treasury activities and the commercial and regulatory environment within which we operate
• Have knowledge and experience of derivatives and repo documentation and related regulation as well as debt issuance documentation and market practice and of the listing and disclosure rules for the London Stock Exchange
• Be able to recognise issues of strategic, legal or reputational importance and assess how they should be resolved
• Have the interpersonal skills to build and establish strong relationships with stakeholders and become a trusted advisor providing concise, commercial, balanced and timely legal advice

Our customer first behaviours put customers and members at the heart of how we work together. They are the set of behaviours that every colleague needs to display, in every role:

• Feel what customers feel - We step into our customers' shoes, using…