Legal Counsel, Global Trade & Receivables Finance/Wholesale Lending
Location: New York, New York
Internal Number: 0000HCRX
At HSBC, the health and well-being of our employees remains of utmost importance. Many of our roles are permitted to work from home (in states in which HSBC is licensed to operate) until further notice. Upon resumption of normal operations, this role may be performed at our New York, New York office.
Our purpose - opening up a world of opportunity - explains why we exist. Here at HSBC we use our unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunity for our more than 40 million customers. We're bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world - for our customers, our people, our investors, our communities and the planet we all share.
As Legal Counsel, Global Trade & Receivables Finance/Wholesale Lending you will provide legal advice, guidance and support to HSBC's Global Trade & Receivables Finance ("GTRF") business. You will also support aspects of the Wholesale Lending business. GTRF has been at the core of HSBC since 1865. Today, HSBC is the largest international trade bank with an unrivalled global presence and access to over 90 percent of the world's capital flows, providing trade finance and risk mitigation solutions to SMEs, large corporates and multinationals. As a cornerstone of the HSBC Group, the Wholesale Lending business supports customers across Commercial Banking and Global Banking segments and sectors, from small enterprises and mid-market companies to corporates and financial institutions. HSBC empowers these customers with tools and opportunities to thrive.
Here's what you can expect day-to-day
As Legal Counsel, Global Trade & Receivables Finance/Wholesale Lending, you will:
Provide day-to-day legal advice across the GTRF business, including with respect to receivables financing (true sale and full recourse), supply chain financing (buyer-centric receivables financing), letters of credit transactions, import/export financing, commodities and structured trade finance, risk distribution and other trade services and also considering innovative and digital solutions;
Provide timely counsel and legal support on the end-to-end cycle (e.g., origination, structuring, drafting, negotiation, execution and implementation) of domestic and global transactions in a cost-effective matter;
Structure, develop, and implement new-to-bank, complex and strategic products and services, including by tackling emerging technology and ESG considerations;
Support nationwide relationship management teams that service HSBC's domestic and global lending clients;
Advise business teams and legal colleagues in HSBC affiliate jurisdictions with respect to cross-border lending, syndicated credit facilities, secured transactions and general corporate finance;
Advise business development managers, product specialists, trade services, transaction risk management, and credit approvers with respect to legal and regulatory issues and risks;
Review RFPs, marketing materials and client communications;
Ensure senior management within legal and business teams is fully briefed on material legal issues arising in GTRF and Wholesale Lending;
Work independently, but seek management input on unusual situations, highly complex issues, and matters that may pose significant legal, financial and/or reputational risk to the bank;
Manage (and instruct) panel law firms and legal spend; and
Maintain and develop positive and professional working relationships within the wider HSBC legal department and within GTRF and Wholesale Lending legal teams in the U.S. and globally.
This position is a rare opportunity to work with a global legal team of trade and commodity finance legal experts and gain experience with high-profile, international, and innovative deals in a growing area of balance sheet and risk management. Though the focus is on New York law-governed transactions, you will have broad exposure to matters arising globally. While the successful candidate is expected to possess a level of prior experience (see Qualifications below), this role will provide hands-on experience at a level rarely available at other banks/firms.
Employment eligibility to work with HSBC in the U.S. is required as the company will not pursue visa sponsorship for these positions.
Ideal candidates will have:
A standing license to practice law in New York State or another acceptable U.S. state;
At least 4-7 years of experience in one or more of the following financing areas: complex commercial lending, trade finance, commodity finance, receivables finance, and/or structured finance;
Working knowledge of letters of credit, trade and receivables finance (at least 2-3 years of experience preferred);
Curiosity, flexibility, growth mindset and a genuine desire to contribute to a growing and dynamic team;
A commercial and pragmatic approach to providing legal and risk advice to the business;
Excellent collaboration skills, ability to work effectively with varied stakeholders and to drive results; and
Excellent negotiation and drafting skills and demonstrated ability to take initiative; and
High level of academic achievement and solid law firm experience.
A glimpse into our culture
As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming, diverse and inclusive work environment. You will be empowered to drive HSBC's engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You'll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!
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 was born from one small idea: a local bank serving international needs. We started our business in Hong Kong in 1865. In 2015, HSBC celebrates its 150th year anniversary. Over the years, HSBC grew through expanding its branch network, offering new products and establishing its own investment banking arm.
We aim to be where the growth is, connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and ultimately helping people fulfill their hopes and realize their ambitions.
•Located in 72 countries and territories
•Serving around 48 million customers
•Supported by over 268,000* people
•Head office in US is New York City
We aim to be dependable, open and connected in everything we do. We want to ensure that our employees feel able to stand up for what is right, highlight potential risks and act with integrity, even when faced with pressure to act otherwise. By doing so, we will be able to meet expectations of society, customers, regulators and investors. To make sure everybody at HSBC lives up to these values, they are a part of everyone's annual performance review.
At HSBC, you will find that we are dependable, open ...to different ideas and cultures, and connected to customers, communities, regulators and each other. Our culture has a family feel to it – our employees are encouraged to work together to reach a common goal. This idea is supported and encouraged at the leadership level and passed down.
Our size and global reach mean more opportunities for you to grow your career with us.
We are looking for forward-thinking, driven, perceptive candidates to help our customers realise their hopes, dreams and ambitions.
This means people who are dependable, open to different ideas and cultures, and enjoy being part of a team; people who have the potential to become the future leaders of HSBC.
We encourage you to drive your own development and build your network within your office and around the world.
We provide the opportunities for you to connect with customers, colleagues and the communities in which we operate.