| Job Title | Lawyer, Special Resolution Unit | | Location | London | | Vacancy Description | The Banking Act 2009 has given the Bank an important role in resolving failing banks and maintaining financial stability. We are now looking for a lawyer to work in the Bank’s Special Resolution Unit (SRU) on a range of legal issues arising from the policy and implementation of bank resolution.
The SRU has approximately 20 members, comprising three teams; policy, implementation and institutional resolution. There is currently one permanent lawyer in the SRU to whom the new lawyer will report. The permanent lawyers will be complemented by experienced secondees from City law firms. The new lawyer will principally be responsible for legal work in the resolution implementation team but will work closely with the Bank’s legal unit and support the other senior lawyers across the range of legal issues as appropriate.
| | Vacancy Responsibilities | The work will include:
- addressing legal issues related to the development of different options for resolving banks and building societies,
- refining the Bank’s approach to undertaking resolutions and to addressing the key challenges, learning from previous cases and international best practice,
- legal work in connection with contingency planning for possible resolutions as well as the actual resolution of specific institutions,
- legal work on the planning and management of bridge banks used in a bank resolution,
- general advice/research on Banking Act legislation; and
research into international and EU legal issues relating to bank resolution.
The role is likely to appeal to a lawyer wishing to apply their legal, transactional and analytical skills in a policy environment. This is a unique opportunity to work at the heart of the financial sector and to contribute to the development and refinement of the new bank resolution regime.
| | Vacancy Entry Requirements | The recruit must be qualified to practice law in England with at least 2 years PQE gained at a major law firm, financial institution or public body advising on banking, corporate law, insolvency/restructuring or financial market matters.
Experience of working with financial institutions would be helpful but is not essential.
Closing date for applications is 6th November 2009.
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