About CLS:

CLS is the trusted party at the centre of the global FX ecosystem. Utilized by thousands of counterparties, CLS makes FX safer, smoother and more cost effective. Trillions of dollars’ worth of currency flows through our systems each day.

Created by the market for the market, our unrivalled global settlement infrastructure reduces systemic risk and provides standardization for participants in many of the world’s most actively traded currencies. We deliver huge efficiencies and savings for our clients: in fact, our approach to multilateral netting shrinks funding requirements by over 96% on average, so clients can put their capital and resources to better use.

CLS products are designed to enable clients to manage risk most effectively across the full FX lifecycle – whether through more efficient processing tools or market intelligence derived from the largest single source of FX executed data available to the market.

Our ambition to make a positive difference starts with our people. Our values – Protect, Improve, Grow – underpin everything that we do at CLS and define and shape a supportive and inclusive working environment in which everyone is encouraged to be open and forward-thinking.

Job purpose – CLS requires a mid-level technology lawyer (solicitor or barrister) to provide high quality legal advice and support to the CLS group of companies (together hereinafter “CLS”) in CLS’s delivery of market-leading settlement and risk mitigation services across a broad range of commercial and technology matters and projects, legal risk management and dispute resolution.

Strategic

Provide legal analysis and support in relation to all aspects of the CLS system, CLS products, technology infrastructure related matters (which may include issues relating to cloud services, cybersecurity and / or data centers) and, where necessary, ‘frontier technologies’ such as DLT / digital assets or artificial intelligence.
Advise on a broad range of commercial technology contracts entered into by CLS.
Engage with and manage external legal advisors in multiple jurisdictions in respect of the same.
Assist with monitoring of global regulatory change and payments industry initiatives relevant to the CLS system, with a specific focus on the EU and UK (post-Brexit) regulatory frameworks.
Engage and develop relations with CLS’s global regulators (including the Federal Reserve Bank of New York, the Bank of England and the CLS Oversight Committee) in responding to enquiries and presenting the legal division’s approach to specific matters.
Work across divisions to draft and contribute to letters and consultations relevant to regulatory and legal change.
Provide legal advice, support and thought leadership to various CLS teams and divisions, including with respect to the use of emerging technologies, product development and the review of policies, procedures and practices relevant to the CLS Group.
Provide assistance with the preparation and review of CLS’s legal opinions, including maintaining regular check-ins with jurisdictional counsel in respect of the same?
Develop, manage and maintain relationships across CLS’s business, that will facilitate the effective delivery of legal support and ensure full alignment with business needs and policies.
Proactively contribute to the Legal Division’s planning, cohesion, consistency in advice and the general efficiency and effectiveness of the division as a whole.

Operational

Ensure compliance with all laws and regulations applicable to CLS.
Ensure that legal risks to the CLS system are managed within acceptable tolerances, including ensuring all new risks relevant to CLS members and the system are known and analyzed.
Assist with drafting of amendments to the CLS Documents (including the CLS Rules, Member Handbook and Settlement Member Agreements) to reflect relevant changes or improvements.
Organize and facilitate cross-divisional working groups, as needed, in order to analyze regulatory change projects with a view to designing and implementing appropriate solutions and managing risk appropriately.
Present recommendations and proposals to the various CLS governance committees and / or the CLS
Board of Directors where appropriate, including CLS’s risk and operational committees.
Work closely with the vendor management function to analyze and assist with the negotiation of commercial contracts such as outsourcing agreements, NDAs and license agreements.
Assist in the review of central bank and RTGS documentation and related annual updates.

Leadership

Able to prioritize appropriately.
Able to identify when and how to escalate appropriately.
Able to communicate effectively both orally and in writing, while collaborating with and reporting to the Legal Division and broader stakeholders including, where appropriate, CLS’s regulators.

Knowledge, skills and abilities - competencies required for successful job performance:

A technology focused lawyer with experience advising in respect of the key areas of relevant legislation impacting this space, including intellectual property and data privacy, as well as an interest in keeping up to date in respect of emerging technology specific legislation such as AI regulations. Any knowledge of payment systems, market infrastructure or cross-border payments would be helpful but is not essential.
Strong problem-solving skills.
Willing to take on new opportunities and tough challenges with a sense of urgency, diligence, energy and enthusiasm.
Demonstrates awareness of personal strengths and weaknesses.
Evidence accountability for meeting delivery and governance commitments
Effective communicator and collaborator, as well as a strong team player
Instills trust through honesty, integrity and authenticity.
Able to assess all relevant risks and considerations to make good and timely decisions.
Apply knowledge of the business, relevant regulation and market trends to advance CLS’s goals.
Manage complexity.
Anticipate future possibilities and translate them into breakthrough strategies.
Willing to learn about CLS, its regulatory status, its stakeholders and the broader ecosystem and demonstrate willingness to learn and stay abreast of market, regulatory and legal knowledge.
Wiling to tackle a broad range of matters.
Able to assess risk and legal issues with some oversight.
Strong drafting and analytical skills; able to draft commercial and technically accurate proposals and legal documents.
Strong attention to detail while keeping focused on the bigger picture.

Qualifications / certifications

Qualification through training contract/pupillage.
Degree from upper tier law school or equivalent evidence of superior academic performance.
Admission as a UK qualified lawyer and current practicing certificate (solicitor or barrister).

Our commitment to employees:

At CLS, we celebrate diversity and consider this to be one of our strongest assets. We are committed to fostering an environment in which everyone feels comfortable to be who they are, and inclusion is valued. All employees have access to our inclusive benefits, including:

Holiday - UK/Asia: 25 holiday days and 3 ‘life days’ (in addition to bank holidays). US: 23 holiday days.
2 paid volunteer days so that you can actively support causes within your community that are important to you.
Generous parental leave policies to ensure you can enjoy valuable time with your family.
Parental transition coaching programmes and support services.
Wellbeing and mental health support resources to ensure you are looking after yourself, and able to support others.
Affinity Groups (including our Women’s Forum, Black Employee Network and Pride Network) in support of our organisational commitment to embrace and always be learning more about DE&I.
Hybrid working to promote a healthy work/life balance, enabling employees to work collaboratively in the office when needed and work from home when they don’t.
Active support of flexible working for all employees where possible.
Monthly ‘Heads Down Days’ with no meetings across the whole company.
Generous non-contributory pension provision for UK/Asia employees, and 401K match from CLS for US employees.
Private medical insurance and dental coverage.
Social events that give you opportunities to meet new people and broaden your network across the organisation.
Annual flu vaccinations.
Discounts and savings and cashback across a wide range of categories including health and retail for UK employees.
Discounted Gym membership – Complete Body Gym Discount/Sweat equity program for US employees.
All employees have access to Discover – our comprehensive learning platform with 1000+ courses from LinkedIn Learning.
Access to frequent development sessions on a number of topics to help you be successful and develop your career at CLS.

Vice President, Legal Counsel

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