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.