Job Details

Legal Staff Paralegal in Chicago, IL

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Company name

Fifth Third Bank

Organization Type


Job Type

Legal Staff

Practice Area

Corporate - General
Corporate - Securities and Capital Markets

Years of Experience

Min 8 yrs required


USA Chicago, IL

Date Last Verified

Apr 19,2018

Posted on

Apr 11,2018

10 hits


OTC Client Onboarding and Documentation Manager The candidate will: negotiate legal agreements related to trading in FX, Commodities, and Interest Rate derivatives; collaborate with legal and credit; partner with the Swap Dealer Middle Office Manager on projects and IT on technology enhancements; consult with compliance on implementation of current and future regulatory requirements; and support sales through the resolution of issues with onboarding and documentation. Will manage client Onboarding and Documentation team daily functions, including overseeing all Financial Risk Management client onboardings to ensure that they are in compliance with all regulations and internal policies. Negotiate complex ISDA agreements and other documents with clients including ISDA Master Agreements, Risk Participation Agreements, ISDA Schedules, Credit Support Annexes, FX Agreements and Reporting Delegation Agreements. Perform detailed reviews of credit memos, credit agreements, guaranty agreements and security agreements to ensure that the required credit protections are in place in the ISDA Master Agreement. Lead discussions with Credit, Risk and other internal groups to review the bank protections that are included in current client agreements and identify any gaps or risk that may exist due to negotiated terms. Ensure that client data and client documents are accurate and have been saved in bank approved IT system(s) in compliance with regulatory and recordkeeping requirements. Establish and monitor KRIs/KPIs and associated SLAs to minimize risk to bank and provide superior client service to both internal and external clients. Perform root cause analysis and create corrective action plans related to KRIs/KPIs and other risks or issues that are identified related to client onboarding and/or client documentation. Oversee the implementation of corrective action plans and monitors the plan's impacts on KRIs and KPIs. Develop and maintain a detailed knowledge of applicable regulatory requirements (including but not limited to Dodd Frank Title VII, Volcker Rule, EMIR, Canadian Reporting Rules, FATCA) and be able to communicate this knowledge to clients and internal groups including Legal, Compliance, Risk, Credit, Operations and Front Office. Implement necessary processes and procedures to address future regulations that become applicable to the Financial Risk Management products. Oversee completion of internal reporting needs, and creation of reports for internal groups, including but not limited to Risk, Compliance, Legal, Line of Business, Credit, Operations and Audit. Ensure maintenance of Client Onboarding and Documentation team policies and procedures, specifically focused on any updates due to changes in IT systems and/or regulatory requirements. Lead projects to improve the efficiency and effectiveness of onboarding and documentation procedures and related processes to enhance the bank's capital markets businesses with little to no supervision. Manage the members of the Client Onboarding & Documentation team including the ISDA Documentation Associates, Client Onboarding Analysts and Documentation Analysts to ensure they are performing the necessary duties of their roles. Provide team members timely, candid and constructive performance feedback through regularly scheduled meetings and formal mid-year and annual reviews. Work with team members to establish their annual goals and update those goals as needed. Challenge team members to enhance their skills, develop more experience and work towards advancing their careers within the team, the risk group and the bank. Serve as escalation contact for any issues that arise within the team and be able to provide guidance and answers to team members' issues or questions.

Qualification and Experience

The candidate should have a B.A. degree. Post graduate degree or equivalent work experience is needed. J.D. degree or MBA is preferred. Should preferably have 8+ years capital markets/investment products, compliance, legal or paralegal experience with 4+ years of experience managing a team within a financial institution. Experience with capital markets related platforms a plus. In-depth knowledge of derivative products and Dodd Frank Title VII document requirements required. Should have extensive experience working with derivatives, ISDA Agreements, and derivatives trading rules and regulations.

Additional info

Requisition ID: 51583532. Reference Code: 14c3cb5a-dc95-db33-e100-00000a3b002a.

Company info

Hiring Coordinator
Fifth Third Bank
Chicago, IL 60601