Reference: 2014-375-EXT
Function:
The Directorate General Legal Services advises on all legal aspects of the regulatory, contractual and institutional framework of the European Central Bank (ECB)/European System of Central Banks (ESCB). It also prepares legal instruments and addresses questions relating to the interpretation of the Treaty establishing the European Union. It prepares the ECB’s opinions on draft legislation and contributes to the definition of the ECB’s legal position vis-à-vis European Union (EU) institutions and in international fora. It also provides legal advice to the ECB’s management on administrative matters and represents the ECB in court.
The Directorate General Legal Services is seeking lawyers with a proven securitisation background and solid transactional management skills to deal with, inter alia, the legal aspects of the ECB’s recently announced asset-backed securities purchase programme (ABSPP) in a multi-jurisdictional environment. Candidates will perform this role within the Financial Law Division as part of a specialised team.
The Financial Law Division has a wealth of expertise in financial law and advises on legal questions related to market operations, monetary policy, financial market infrastructure, statistics and financial services legislation. The Division continues to be closely involved in work on financial stability issues and non-standard monetary policy measures.
The successful applicant will be entrusted with the following main tasks:
- providing advice on all legal due diligence issues arising out of the ABSPP, including structural and contractual features of ABS notes, transactions and national law specificities of ABS structures, as well as assessing the EU regulatory frameworks relating to ABS;
- supporting the Directorate General’s management in the assessment and preparation of legal documentation relating to the ABSPP;
- ensuring proper knowledge-sharing and adherence to agreed business processes, particularly when interacting with ABSPP teams and experts from other business areas and from national central banks (NCBs).
Qualifications and experience:
Applicants must have the following knowledge and competencies:
- a master’s degree in law obtained in a EU Member State;
- the professional legal qualification required, pursuant to Council Directive 77/249/EEC of 22 March 1977 to facilitate the effective exercise by lawyers of freedom to provide services, for recognition as a lawyer in an EU Member State would be an important asset; such qualification can be a substitute for the requirement in the bullet point above;
- in-depth expertise in the field of ABS, preferably obtained in the legal department of a financial institution or a legal practice active in the ABS market;
- experience in reviewing and negotiating or drafting ABS documentation, including prospectuses, transaction documentation and legal opinions relating to ABS transactions originating in at least one, but preferably several, EU jurisdictions;
- in-depth knowledge of the international and EU regulatory framework applicable to ABS stakeholders (e.g. originators, issuers, investors and rating agencies), including current developments and proposals for the ABS market and related regulation.
- an advanced-level command of English;
- intermediate knowledge of at least one other official language of the EU;
- a working knowledge of MS Office, such as Word, Excel and PowerPoint;
- ideally, knowledge of document management systems such as OpenText Livelink;
- ideally, user knowledge of enterprise resource planning systems such as SAP.
Competencies:
The successful candidate will have the following behavioural competencies:
- shows a high level of commitment, initiative and flexibility, and has the ability to work efficiently under pressure and to tight deadlines;
- examines issues critically and adopts relevant approaches geared towards successful business solutions;
- manages multiple assignments and tracks progress on numerous processes simultaneously;
- analyses complex datasets from a variety of sources;
- communicates ideas in an effective manner and ensures mutual comprehension;
- encourages participation and cooperation within and across business practice teams by sharing information, seeking the views of knowledgeable colleagues and keeping the relevant stakeholders informed;
- is comfortable working alone on challenging assignments;
- establishes and maintains cooperative relationships with legal and non-legal experts, as well as with management at all levels, both inside and outside the organisation;
- understands the key organisational goals and the wider context in which the ECB works, and is knowledgeable about current and possible future policies, practices, trends and technology relating to the business unit and the organisation.
Further Information:
Fixed-term contract until 28 February 2018, which may be extended subject to individual performance and organisational needs.
How to apply:
Applications are to be made in English and submitted using our online application form.
Further information on the ECB's conditions of employment for fixed-term positions can be found at http://www.ecb.europa.eu/ecb/jobs/html/index.en.html
Closing Date for Applications: Wed, 21 Jan 2015