Legal Counsel, Regulatory in London

This role is a rare opportunity for an ambitious lawyer to work as a regulatory legal counsel for The London Metal Exchange (LME), the world's leading industrial metals marketplace which sets global reference prices. The efficiency and trust in the LME's marketplace, the financial clout of London's wider financial sector, and the strength and robustness provided by London's legal system set the LME apart from any other commodity exchange.

You will join the LME's regulatory (legal) team as an AVP, working alongside the team manager and ultimately the General Counsel, to deliver robust and practical legal advice across the whole organisation. The regulatory team is part of the legal department which is responsible for advising the LME on a variety of legal and regulatory matters relating to metals trading and other associated products and services in a way that helps to drive the growth of the organisation. The LME operates in a highly regulated environment requiring strong legal involvement and expertise both for its core business and the development of new products.

From day one, you will own matters of genuine consequence. The breadth and scope of your work will constantly change from day-to-day, and you will provide high-value advice to stakeholders at all levels of seniority on regulatory matters. You will need a sharp legal mind, the ability to work at pace, across regulatory, public law and LME Rules (often simultaneously), and the confidence to provide commercially sound advice with a reasoned approach to legal risks.

You will operate with genuine autonomy, in direct contact with different LME business teams, and solve queries on multiple issues, for instance trading, position management, market data licensing, benchmark regulation, LME member on-boarding or rules queries. You will also provide legal advice as a part of cross-business team member working on complex long-term projects. You may also have the opportunity to work on clearing and contract/commercial issues from time to time.

Responsibilities

• Provide regulatory advice, both independently and as part of a team, in relation to the LME's products and services.
• Work collaboratively with different businesses across the LME - including Trading and Business Development, Market Surveillance, Market Access, Market Structure, Market Data and Regulatory & Compliance - to deliver practical, clear and sound legal advice.
• Advise on key regulatory change programmes impacting the commodity derivatives regulatory framework.
• Research and analyse specific legal points on a broad variety of regulatory, public law and LME Rules issues.
• Proactively monitor legal and regulatory developments, assess their impact on the LME, and draft responses to public consultations in conjunction with relevant internal stakeholders and the Corporate Communications team.
• Support the development of new products/projects/initiatives, including defining the legal requirements, advising the business with potential legal risks and drafting relevant legal documentation.
• Responding to queries from members of the LME on the LME rules and other matters.
• Managing external counsel with a view to obtaining optimal service whilst controlling costs.

Academic and Professional Qualifications Required

A solicitor admitted in England & Wales or holding a Scottish or foreign jurisdiction equivalent. The legal counsel is likely to have 1 to 5 years of post-qualification experience, but candidates outside of this range are encouraged to apply. The ideal candidate will have worked for a city law firm in the UK or a reputable law firm in a foreign jurisdiction and/or in-house at a financial services firm (including but not limited to banks, investment firms and financial market infrastructure), and/or a trade body or regulator advising on wholesale financial regulation in the UK or in an equivalent foreign jurisdiction. Exceptional candidates outside these areas are encouraged to apply.