Legal Counsel-Wholesale Credit & Lending, Special Credits Unit

Job description

Our purpose - opening up a world of opportunity - explains why we exist. Here at HSBC we use our unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunity for our more than 40 million customers. We’re bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world - for our customers, our people, our investors, our communities and the planet we all share.

As Legal Counsel, Wholesale Credit & Lending, you will provide legal advice, guidance and support to HSBC USA’s Wholesale Credit workout team known as the Special Credits Unit (“SCU”), as well as the Commercial Banking and Global Banking lending businesses. SCU functionally supports all Wholesale Lending businesses providing credit, restructuring and collections expertise to all segments of Commercial Banking and Global Banking, from small enterprises and mid-market companies to the largest corporates.

Here’s what you can expect day-to-day

As Legal Counsel, SCU/Wholesale Lending, you will:

• Provide day-to-day legal advice to SCU on all aspects of troubled credit and banking relationships;
• Provide timely counsel and legal support on the end-to-end cycle of loan workout, restructuring, bankruptcy and collection matters (e.g., strategy, structuring, drafting, negotiation, execution, litigation (if applicable) and implementation) in a cost-effective matter;
• Support nationwide SCU and Wholesale business’ relationship and credit management teams that service HSBC’s domestic and global lending clients;
• Advise business teams and legal colleagues in HSBC affiliate jurisdictions with respect to international insolvency proceedings, US bankruptcies, cross-border lending, syndicated credit facilities, secured transactions and general corporate finance;
• Advise SCU, Wholesale Risk and the businesses, as necessary, with respect to legal and regulatory issues and risks;
• Review RFPs and client documentation and communications;
• Ensure senior management within legal and business teams is fully briefed on material legal issues arising in SCU and Wholesale Lending;
• Work independently, but seek management input on unusual situations, highly complex issues, and matters that may pose significant legal, financial and/or reputational risk to the Bank;
• Manage (and instruct) panel law firms and legal spend; and
• Maintain and develop positive and professional working relationships within the wider HSBC legal department and within SCU and Wholesale Lending legal teams in the U.S. and globally.
• This position is a rare opportunity to work with and train under a global legal team of wholesale lending and restructuring legal experts and gain experience with high-profile, international, and innovative insolvency matters. While the successful candidate is expected to possess some prior experience (see Qualifications below), this role will provide hands-on experience and expert training at a level rarely available at other banks/firms.

For this role, HSBC targets a fixed pay range between $136,300 and $204,400.

The final fixed pay offer will depend on the candidate and a number of variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.

At HSBC, our overall goal is to provide a competitive Total Reward Package, with an appropriate mix of fixed pay, and variable pay, as part of an employee’s overall total compensation and benefits. Variable pay generally takes the form of discretionary, annual awards (sometimes referred to as a “bonus”). Additionally, HSBC offers a wide range of competitive and flexible benefits designed to help you improve your health and well-being, finances, and lifestyle.

Requirements

In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the US. Applicants must be legally authorized to work in the U.S. as HSBC will not engage in immigration sponsorship for this position.

• A license to practice law in New York State or another acceptable U.S. state;
• At least 2-5 years of experience in one or more of the following areas: bankruptcy, loan workouts and restructurings and complex commercial lending;
• Curiosity, flexibility, growth mindset and a genuine desire to contribute to a growing and dynamic team;
• A commercial and pragmatic approach to providing legal and risk advice to the Risk function and Wholesale businesses;
• Excellent collaboration skills, ability to work effectively with varied stakeholders and to drive results; and
• Excellent communication, negotiation and drafting skills and demonstrated ability to take initiative and apply good commercial and legal judgement; and
• High level of academic achievement and solid law firm experience.

As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming, diverse and inclusive work environment. You will be empowered to drive HSBC’s engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!

All qualified applicants will receive consideration for employment without regard to age, ancestry, color, race, national origin, ethnicity, disability or medical condition, genetic information, military or veteran service, religion, creed, sex, gender, pregnancy, childbirth, caregiver status, marital status, citizenship or immigration status, sexual orientation, gender identity or expression or any other trait protected by applicable law.

HSBC is one of the world’s largest banking and financial services organizations. Our global businesses serve around 39 million customers worldwide through a network that covers 62 countries and territories. Our customers range from individual savers and investors to some of the world’s biggest companies, governments and international organizations. We aim to connect them to opportunities and help them to achieve their ambitions.