About Northern Trust
As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.
Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.
With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.
Role Overview
As a member of Northern Trust’s Legal Department, the Senior Paralegal will provide dedicated legal support to the Global Foreign Exchange business, with primary responsibility for drafting and negotiating derivatives and trading documentation, including ISDA Master Agreements and Credit Support Annexes (CSAs).
Working closely with Global Foreign Exchange attorneys and key business partners, the role will support the effective negotiation, execution and ongoing management of trading documentation and related counterparty arrangements. The position reports to a member of the Banking & Markets Group leadership team and requires strong technical expertise, sound judgement and the ability to manage complex documentation matters independently.
Primary Responsibilities
Draft, review and negotiate ISDA Master Agreements, Credit Support Annexes (CSAs) and other FX and derivatives documentation, including pricing agreements and standing instructions.
Manage negotiations with clients and counterparties, working closely with Legal, business and risk stakeholders to progress documentation efficiently and resolve outstanding points.
Maintain and enhance templates, negotiation playbooks and standard documentation for ISDAs and other industry-standard FX and derivatives agreements.
Support technology, process improvement and innovation initiatives relating to derivatives documentation and contract management.
Partner with onboarding and financial risk teams to support the efficient onboarding of clients and counterparties.
Conduct netting and collateral enforceability analysis, including reviewing legal opinions issued through relevant industry associations and bespoke opinions obtained from external counsel.
Identify and escalate material legal, documentation and enforceability issues to the appropriate attorneys and stakeholders.
Maintain a strong understanding of developments in derivatives documentation, regulation and market practice relevant to the Global Foreign Exchange business.
Skills & Experience
Extensive experience drafting and negotiating derivatives documentation, particularly documentation relating to FX derivatives.
Strong working knowledge of ISDA Master Agreements, CSAs and other industry-standard FX and derivatives documentation.
Good understanding of the legal and regulatory framework governing derivatives and financial markets across relevant jurisdictions, including applicable US, UK and EEA requirements such as Title VII of the Dodd-Frank Act, MiFID, EMIR and CRD VI.
Strong contract drafting and negotiation skills, with the ability to identify key legal and commercial issues and progress negotiations effectively.
Excellent organisational, communication and stakeholder-management skills, with the ability to manage multiple priorities and deadlines.
Ability to work independently, exercise sound judgement and take ownership of matters while collaborating effectively with Legal, Risk and business stakeholders.
Comfortable working in a complex, global financial services environment with multiple internal and external stakeholders.
Qualifications & Experience
Paralegal qualification, certificate or equivalent, where required by the relevant jurisdiction.
Minimum of 5…