Global Credit Finance Legal Department, Vice President and Counsel

State Street Corporation • Boston, MA

293d • $140,000 - $222,500 • Remote

About The Position

State Street's commercial lending division, Global Credit Finance (GCF), helps support the custody clients of State Street by providing commercial loans to such clients. GCF has more than $100 billion in loan commitments with clients in the U.S. and Europe. The person filling this role, along with an attorney colleague based in Europe, will be responsible for all aspects of legal support to GCF. The tax advantaged investments (TAI) team is a part of Corporate Tax at State Street and provides equity funding to both low-income housing projects and to renewable energy projects, which help provide affordable housing and clean energy, respectively, throughout the U.S. The legal support for TAI will be in the form of providing transactional law advice and corporate governance advice (not tax advice).

Requirements

• Juris Doctorate from an accredited law school.
• License to practice law in Massachusetts.
• 10+ years of experience at a major law firm and/or major bank with a focus on commercial lending.
• Experience structuring loan facilities and drafting and reviewing all types of loan documents.
• Experience with federal tax credit programs (low-income housing and renewable energy) and/or project finance is a plus.
• Experience with multi-jurisdictional loan facilities, loan work-outs, lender liability matters, borrower insolvencies, and bank regulations is a plus.
• Ability to identify critical legal risks and succinctly convey those to non-attorney colleagues.
• Strong collaboration skills and ability to work as a team player.

Nice To Haves

• Deep understanding of commercial lending, including debtor creditor laws.
• General familiarity with bank regulation.
• Results oriented with strong project management and execution skills.
• Strong interpersonal and communication skills.
• Ability to interact with multiple levels in an organization and in multiple jurisdictions.
• Keen understanding of market practice impacting the business lines in relevant jurisdictions.

Responsibilities

• Provide legal support for various products offered by the Global Credit Finance division, including leverage and liquidity facilities to mutual funds, subscription line facilities to various private funds, net asset value loans, commercial real estate loans, loans to various non-bank credit intermediaries such as CLOs and BDCs, and broadly syndicated leveraged loans.
• Assist GCF in developing new loan products.
• Support State Street with pledging GCF originated loans to the Federal Reserve under its discount window.
• Analyze various bank regulations impacting GCF's business, including capital and regulatory reporting regulations.
• Answer legal questions relating to GCF's products raised by other State Street stakeholders such as credit risk, compliance, and audit functions.
• Update and maintain the guidelines provided to external legal counsel regarding GCF loan documents.
• Provide legal advice in connection with strategic initiatives and special projects.
• Manage a panel of external legal counsel utilized by GCF globally.
• Participate in a multi-disciplinary committee that approves various TAI investments made by State Street.
• Assist non-attorney TAI colleagues and external legal counsel with transactional and governance issues.

Benefits

• Generous medical care, insurance and savings plans.
• Flexible Work Program.
• Development programs and educational support.
• Paid volunteer days.
• Matching gift program.
• Access to employee networks.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Securities, Commodity Contracts, and Other Financial Investments and Related Activities
• Education Level: Bachelor's degree