Legal Advisor

Who is Sanlam Financial Markets?

Sanlam Financial Markets (“SFM”) is the business unit in Sanlam Group that is responsible for managing shareholder credit, market, and liquidity risks, developing balance-sheet enabled products, and developing solutions to optimize Sanlam’s balance sheet(s) to generate shareholder value. SFM works closely with the Balance Sheet Management function of Sanlam to assist the Balance Sheet Management Function in its pursuit of optimising returns on the Sanlam balance sheet.

Overview of the Role

This is a legal advisor role within the SFM legal team and is primarily focused on financial markets, insurance and commercial law, financial markets legislation/ regulation and derivative documentation.  The role will also provide legal support to all areas of SFM’s business.

Key Skills and Required Experience

Key responsibilities and day to day work to include as many of the below as possible:

Working across the SFM business with respect to all legal areas.

Negotiating and advising on derivatives and ancillary trading documentation:

• OTC derivatives trading agreements – ie ISDA Master Agreements, Credit Support Annexes, margining agreements, clearing arrangements, trade confirmations and master confirmation templates;
• Exchange traded derivatives – i.e. futures agreements, intermediation/give up arrangements;
• Prime brokerage arrangements;
• Securities lending – .i.e. Global Master Securities Lending Agreements;
• Repos – i.e. Global Master Repurchase Agreements.

Keeping up to date with regulatory change and rules in the various markets in which Sanlam operates.

Assisting the operations teams with queries arising from trade confirmations.

Creating a ‘playbook’ of acceptable trade confirmations for the operations team to use in reviewing and obtaining signature of confirmations.

Key Skills and Required Experience Continues

• Liaising internally with internal teams throughout derivative negotiation process to ensure that terms are within agreed parameters.
• Interpret and apply legislation and regulation applicable to financial products (including crypto assets) both in South Africa and in offshore markets.
• Provide legal advice, manage legal and reputational risk, and assist with the negotiation with counterparties.
• Ensure that internal policies and procedures are upheld and adhered to in respect of each derivative counterparty relationship and transaction.
• Provide comprehensive legal support to the SFM business including where necessary engaging with regulators.
• Assisting the business with post-trade issues and discrepancies arising from trade confirmations and collateral disputes with derivative counterparties.
• Developing knowledge of the rules that apply to Sanlam’s funds and clients in the context of products, restrictions, documentation etc.  Such rules include UCITS, CISCA, Regulation 28, BN 90.

Key Skills and Required Experience Continues

• General legal and regulatory advice on contracts and issues associated with the investment management activities run by SFM in relation to Sanlam Life Insurance Limited’s balance sheet and third party assets managed by Sanlam Specialised Asset Management (Pty) Ltd.
• General administration necessary for the role, including updates to negotiation database, archiving documents, etc.
• Adhering to the conflicts of interest, and confidentiality policies
• Advising SFM Compliance of any possible issues and assisting SFM Compliance with matters of legal interpretation.
• Maintaining client confidentiality, and ensuring that client data is protected
• Ensuring appropriate level of training and threshold competence levels are maintained  

Technical Knowledge and Experience

Legal qualification and or equivalent

Admitted Attorney in South Africa with articles completed at a South African law firm

Experience in a Banking and Finance department of a South African law firm ( 1 – 3 years exp)

Relevant tertiary legal qualification is essential

Experience of negotiating and drafting commercial legal documentation

A working knowledge of the insurance/asset management industry and fund structures

Strong research and opinion writing skills is essential, particularly an ability to convey complex legal principles to other areas of the business in a manner that is clear and easy to understand

Proven negotiation skills

Personal Attributes

• Must show confidence to be able to quickly build up and maintain effective working relationships
• Self-motivated individual, analytical, pro-active, solution-minded
• High attention to detail with a business centric approach to providing legal advice internally
• Must be organised, energetic and maintain a flexible approach to working both within a team and also on own initiative
• Must have strong capacity for developing knowledge and skills
• Must be able to meet tight deadlines and deliver expected outcomes
• Proven ability to multi-task and cope with the needs of a fast-moving business
• Excellent communication skills required – written and oral.
• Some travel required

Core Competencies

Cultivates innovation - Contributing through others 

Customer focus - Contributing through others 

Drives results - Contributing through others 

Collaborates - Contributing through others 

Being resilient - Contributing through others 

Turnaround time

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers. 

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