Legal Counsel - Compliance Office location: Basel Department: Legal Service Unit: Service: Employment - Duration: 3 years Contract type: Fixed-term FTE%: 100% Application Deadline: 26/03/2024

Description

The Bank for International Settlements (BIS) is hiring a Legal Counsel – Compliance to join our Legal Service.

The role is based in Basel, Switzerland, however, thanks to our status as an international organization, we can hire globally and welcome applications from candidates of all nationalities located anywhere in the world. Relocation support is available for the successful candidate and their dependent family members.

Purpose of the job:

Our mission is to support central banks' pursuit of monetary and financial stability through international cooperation, and to act as a bank for central banks.

You will support this mission in the role of Legal Counsel – Compliance by providing appropriate advice on legal matters and contributing to the management of compliance risk of the BIS relating to banking activities (“Banking Compliance Risk”), including by developing appropriate legal and compliance structures to support the Bank's operations.

By joining the Legal Service, you will:

· Join a collaborative team of legal experts in a unique international working environment

· Contribute to defining the Bank's compliance structures and strategies

Principal accountabilities:

· Monitoring regulatory developments in key jurisdictions relevant for BIS Banking activities, assessing their impact and identifying appropriate changes to BIS Banking Compliance Standards or Banking rules, policies and procedures.

· Monitoring and assessing economic sanctions in key jurisdictions and providing guidance and advice regarding relevant economic sanctions.

· Performing responsibilities of 2LOD in the management of Banking Compliance Risk, including: 1) participating in Risk Control Assessments, 2) advising on (and where appropriate formulating and drafting) appropriate policies and procedures, 3) advising on, and where appropriate performing, control activities, 4) periodic reporting, 5) advising the Banking Department on Banking Compliance Risk, 6) facilitating and overseeing the development, implementation and maintenance of Banking Compliance initiatives.

· Acting as a contact point for Banking Compliance matters.

· Performing compliance due diligence on proposed banking customers and on relevant commercial counterparties of the Banking Department.

· Responding to KYC/AML/CFT and similar due diligence requests from banking customers and counterparties. Responding to correspondence from banking counterparties regarding their standard terms and conditions.

Qualifications, skills, and experience:

· Experience as an attorney, preferably with a central bank, international financial institution or other financial institution

· Master's level law qualification or equivalent

· In-depth knowledge of banking operations

· Experience in a legal and compliance function in a major financial institution

· Excellent speaking and drafting skills in English

· Strong interpersonal and communication skills

Who we are:

The Bank for International Settlements is a diverse organization with colleagues from over 60 countries. By joining us in the international city of Basel, you will work in a unique, highly rewarding, and international work environment. We truly value diversity and inclusion and want to reflect the world we serve. At the BIS, we value equality and diversity in all its forms and one way we support diversity and inclusion is through our staff-run networks. You can discover more about diversity at the BIS here.

What the BIS offers:

We want your time at the BIS to be a rewarding and career-enriching experience. We offer an agile and flexible working environment with hybrid working opportunities including home office and working from abroad days. To support our international applicants, we offer relocation support that extends to your dependent family members. In addition, thanks to our ongoing commitment to diversity and inclusion, we offer a competitive compensation and benefits package, including support for working families including childcare and education allowances (where applicable). Finally, we offer a genuinely unique international working environment, which will give you exposure to the global financial system and the opportunity to collaborate with passionate experts from all over the world.

We strive to ensure that individuals are provided reasonable accommodation to participate in the application or interview process, and to perform essential job functions. Should you wish to request accommodation, support in completing this application or participating in the application process, then please reach out to the recruitment team at staffing@bis.org.