Senior Lead Counsel - Wealth Client Segments

Senior Lead Counsel - Wealth Client Segments

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Job Overview

The Senior Lead Counsel I is a senior level position responsible for providing legal guidance and thought leadership to the business. The overall objective of this role is to provide legal support, advice, and guidance to the business.

This role is part of the Wealth Client Segments Legal team and is based in Tampa. The Wealth Client Segments Legal team covers various aspects of the interplay between the Wealth business and its clients along the client journey from prospecting, to onboarding, to maintaining the best relationship with our clients, and special requests, complaints, power of attorney issues, trust, estate, executor, custodian and beneficiary account scenarios, and account transfers, closings and exits. The team also advises on client-facing and onboarding forms, general terms and conditions, confidentiality agreements, control agreements, privacy notices and issues, data breaches, web and mobile client platforms, and account mandates. Wealth Client Segments Legal also cover cross-border activity, wealth planning, insurance sales and referrals and works closely with the various Wealth product Legal teams.

The role sits within the Wealth Legal Team, where other areas of coverage undertaken are Alternatives, Banking & Lending, Business Strategy & Initiatives, Capital Markets and Managed Investments.

This role requires a pragmatic, proactive attorney with thorough understanding of the Business, combined with a solid conceptual / practical grounding in the laws and regulations for the geographies in which we operate. Provides input into strategic decisions, exercising sound legal judgement to develop proactive, risk-appropriate, and commercially practical business-oriented solutions.

Responsibilities:

• Provide key legal support on Wealth Client matters, participating in strategic initiatives, providing subject matter expertise and interpretations of relevant laws, rules, regulations, and industry practices, and advising business management on legal matters impacting the business.
• Objectively evaluate Wealth Client Segments proposals and queries by applying institutional knowledge and risk appetite against industry standards, widely accepted business practices, laws, rules, and regulatory guidelines, escalating as appropriate.
• Collaborate across internal lines of business and control/support functions to achieve coordinated and efficient outcomes on matters of common interest; coordinate closely with the Legal team on a regional and global basis.
• Work with their counterparts and other key stakeholders to develop best practices across teams and in connection with various initiatives, queries and regulatory implementation/review processes.
• Participate in Wealth planning and development initiatives; contribute to business objectives by providing thought leadership using knowledge of industry, laws, and regulations.
• Proactively identify, evaluate, and contribute to the appropriate management of legal, regulatory, and reputational risk by collaborating with Compliance & Risk, following relevant legal developments, participating in internal projects, escalating as appropriate.
• Monitor management of complex legal issues and transactions, escalating when necessary.
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citi, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
• Manage outside counsel budgeting and selection in alignment with Citi's initiatives as needed.

Example projects and work include:

• Supporting the business on the review of all manner of client wealth structures such as client trust, estate, executor and corporate formation documents to confirm authority and due execution of transaction documents or address KYC/AML related aspects of such structures.
• Providing cross-border legal advice/support to wealth management initiatives as well as its products and services offered internationally working in close coordination with internal and external lawyers of different countries and jurisdictions and keeping updated on legal developments related to offshore wealth management services in different countries;
• Partnering with Cross Enterprise Legal and/or Wealth lawyers, and business teams to ensure appropriate legal risk management, compliance with applicable laws and regulations, and Citi policies;
• Reviewing the regulatory pipelines with Cross Enterprise Legal and/or Wealth lawyers and Business teams, including how upcoming regulation applies to Wealth;
• Reviewing new business initiatives (such as processes to simplify or improve documentation);
• Coordinating with Litigation legal team to handle litigation matters and certain regulatory responses; and
• Negotiating and drafting documentation such as client agreements, general terms and conditions, client forms and side letters; and
• Managing external counsel.

Qualifications:

• 10+ years of relevant industry experience, preferably in financial services
• Banking or financial industry experience, including laws related to banking regulations
• Knowledge of international laws, regulations and practices while staying abreast of regulatory and legal environment, internal policies and industry trends that impact the business
• Knowledge of Trusts & Estates law with experience understanding trust relationships, structures and powers, trust creation, documentation and succession and knowledge of Reg 9, Reg O and Reg W would be particularly beneficial
• Experience with complex deals, demonstrated ability to analyze issues and develop legal solutions
• Effective communication and negotiation skills and ability to build and maintain trusted relationships
• Excellent interpersonal, organizational and relationship management skills
• Proven ability to apply sound judgement while managing assignments in a demanding, fast-paced environment
• Bar license in good standing to practice law

Education:

• Juris Doctorate or equivalent law degree