Legal Counsel

Job description / Role

About CBD

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features, and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World's Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people—your colleagues and our customers—and delivering service that really goes the extra mile.

Legal Advisory

• Providing legal advice and support to various business stakeholders of CBD (e.g. WBG, DCM, TSY, Compliance, IT, Audit etc.) while keeping in mind CBD's strategic and business objectives.
• Providing legal services to WBG including all subgroups (corporate banking, institutional banking, transaction banking, syndication team, FI, Credit) in each case to support the delivery of the commercial and customer priorities of those functions in a manner compliant with CBD's legal risk appetite, internal policies, and external legal and regulatory obligations.
• Providing legal services for global market and treasury activities (including bond financing, ALM, DCM and other debt programs, derivative sales, derivative policy margin projects, and brokerage).
• Providing guidance to facilitate CBD's compliance with all applicable laws, rules, and regulations.
• Completing the legal tasks, projects, and ad-hoc matters in a timely manner as assigned by the Chief Legal Officer.
• Performing due diligence on a regular basis to determine capacity and authority of CBD's counterparties (borrowing powers, hedging authority etc.).
• Maintaining close relationships with stakeholders (GMs and Business Heads) to provide them with legal advice, guidance, and support as needed.

Legal Documentation

• Drafting, reviewing, and negotiating contracts (transactional or non-transactional) and other legal documents in order to maximize CBD's legal protections while minimizing the risks (NDAs, Service Agreements, letters etc.).
• Drafting complex agreements, contracts, and bespoke documents as required by business lines and other support functions.
• Drafting, reviewing, and negotiating full suite of legal documentation related to Corporate Law (share subscriptions, shareholder's agreement, MOUs, side letters, JVs, SPAs etc.).
• Producing and regularly updating standardized legal agreements, contracts, and standard terms and conditions for CBD in compliance with applicable legal requirements.
• Assisting various business segments in launching new products and conducting legal and regulatory due diligence on such products, including identifying risks and mitigants.
• Providing structuring, legal, and execution advice in relation to transactions and new business.
• Enhancement of legal policies and processes to mitigate legal risks and improve customer experience (TSY, DCM etc.).
• Providing transactional support to WBG, DCM, and TSY Business.
• Acting as lead lawyer for matters related to debt financing transactions (LMA documentation, bilateral/syndicated transaction, bridge facility, hedging documentation, and security documents etc.), project finance, corporate finance, Islamic finance, aviation finance etc.
• Drafting, reviewing, and negotiating deal documentation relating to corporate and banking facilities including but not limited to syndication agreements, bilateral loans, project finance, leveraged/acquisition finance, real estate finance and asset finance transactions, finance security documents, debt restructurings and other complex lending agreements, all types of letter of credit, bonds and guarantees pursuant to LMA or other internationally accepted standards, as may be relevant and applicable.
• Assisting in the maintenance and development of document templates and standards, know-how and procedures in connection with TSY, DCM and WBG etc.
• Main point of contact for drafting, reviewing, and negotiating all documentation in respect of Treasury transactions (including confirmations).
• Go-to negotiator for all matters related to Treasury, Lending, Investments, and Islamic Finance.
• Preparing and negotiating trading agreements and other documentation between CBD and its counterparties across all counterparty sectors and jurisdictions.
• Providing advice and support relating to netting and collateral, and management of netting and collateral enforceability opinions and risk positions in connection with TSY transactions.
• Providing legal advice, support, and risk management to CBD on derivatives, repo, securities lending, clearing execution etc.
• Providing legal support (both from a documentation and advisory perspective) to successfully transition all related IBOR documentation/transactions of CBD (attending meetings with GM, C-Level management, managing external law firm, training/working with junior members of the team etc.).
• Participating in and contributing towards Legal Department-wide strategic projects and initiatives.
• Instructing and managing external counsel as and when required while maintaining a good relationship with the panel of lawyers.

Projects

• Participate in legal projects and initiatives for the purposes of enhancing risk management, increasing greater efficiency in delivery of legal services and driving bank-wide objectives of digitalization.

Requirements

Skills & Experience

• High degree or LLM in Law from a recognized and well-regarded university.
• Admission to UK or US Bar.
• 8+ years of legal experience preferably in banking industry in leading national and international financial institutions.
• Excellent knowledge of bilateral and syndicated lending and security as well as treasury and capital markets documentation.
• Perfect command of English (verbal, written & spoken).
• Planning and organizing skills.
• Report writing skills.
• Negotiation skills.

The candidate should:

• Stay abreast of new laws and regulations through continuous legal education.
• Provide updates to CBD's senior/key stakeholders on new legislation and regulatory developments that may have an impact on CBD and advise on how to comply with such legislation and regulations.
• Help to ensure that regulatory reform/changes are appropriately assessed within Legal and ensure that any regulatory reform is appropriately escalated and managed.
• Monitor, identify, and advise on legal and regulatory risks and legal, regulatory and market developments relevant to documentation and industry/market conventions and practices for TSY (IM/VM project, IBOR transition, protocol adherence, EMIR etc.).

About the Company

In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.

By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.

Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.