Counsel, Vice President - Securitized Products

Job Level: Vice President

Job Function: Business Partnering

Location:

New York, NY, US, 10172

Employment Type: Full Time

Requisition ID: 7490

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.

In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.

The anticipated salary range for this role is between $178,000.00 and $235,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

Role Description

SMBC is seeking a junior to mid-level attorney to join the firm’s close-knit capital markets legal team responsible for providing primary legal coverage for the firm’s securitized products platform. SMBC’s securitized products franchise is active and growing – the firm is an experienced underwriter and lead structurer for (1) traditional term asset-backed securities (“ABS”) products (credit cards, autos, etc.), (2) broadly-syndicated and private credit / middle-market collateralized loan obligations (“CLOs”), (3) esoteric and non-flow ABS products (data center, etc.), (4) warehouse financing to support ABS and CLO activity, and (5) capital solutions products such as synthetic risk transfers, credit-linked notes, portfolio sales and other bespoke or esoteric balance-sheet management transactions.

The ideal candidate will have demonstrated experience with securitized products including CLOs and/or ABS and related warehouse lending products. While prior in-house experience is preferred, the candidate will be working with two experienced in-house attorneys willing to train and mentor law firm attorneys looking for a different career path.

Role Objectives

Responsibilities will include (i) partnering with and providing legal advice to internal stakeholders who structure, underwrite, and invest in the firm’s securitization platform, (ii) partnering with external counsel and front office teams to review and negotiate transaction documentation for the same, (iii) developing and maintaining internal resources to support the firm’s growth and position in the market (e.g., form documentation, “playbooks,” market insights on material terms, etc.), (iii) identifying and advising on a broad range of legal and regulatory issues relating to securitized products generally, (iv) collaborating with other members of the Americas Division Legal Department to ensure a consistent approach to institutional issues and (v) collaborating with colleagues in other functions including compliance, risk, planning and others to review policies and practices and consider new initiatives.

Responsibilities

Provide legal advice and support relating to CLOs, ABS and other term securitization origination, distribution and investment, including various forms of warehouse and other asset accumulation financing.
Provide legal advice to the firm’s ABCP conduit program and other securitization businesses, including reviewing and negotiating receivables purchase agreements, loan agreements, engagement letters, commitment letters and other transaction documents.
Identify U.S. and cross-border legal, regulatory, and market issues affecting the securitization business, including compliance with the U.S. securities laws, Volcker Rule, US and EU risk retention, investor disclosure requirements and other industry-wide legal and regulatory issues. Provide clear, concise, and accurate legal advice.
Maintain and update form documents for the securitization businesses.
Collaborate and coordinate with attorneys in Legal and other internal partners to ensure adherence to institutional standards and policies. Escalate material issues and developments to senior attorneys and members of management.
Contribute to industry initiatives through SIFMA, SFA, LSTA, and other trade organizations.

Qualifications and Skills

Admission to the New York bar (or clear qualification of eligibility for waiving in from another jurisdiction with which New York has reciprocity) and a member of good standing of such bar.
A minimum of 4-5 years of experience advising on securitization structures at a law firm or in-house legal department. Excellent legal and analytical skills and expertise in securitization.
Experience in general secured credit transactions, limited and non-recourse financings, insolvency and bankruptcy, and cross-border financing is preferred.
Ability to see past the question and understand the bigger picture. Ability to balance competing demands and protect institutional interests. Ability to articulate complex concepts and ideas and apply them at a practical level to real-world situations.
Excellent communication skills, technical drafting skills, and issue-spotting skills. Ability to work under pressure, operate comfortably in a fast-paced, demanding environment, and manage a significant workload with minimal supervision. Ability to think creatively and propose solutions.
Cross-cultural sensitivity required. Must be a team player.

SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.

SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.