Director – US Financial Restructuring Counsel

Job Description

Salary / Rate Minimum:  $270,000

Salary / Rate Maximum:  $320,000

The minimum and maximum salary/rate information above include only base salary or base hourly rate.  It does not include any another type of compensation or benefits that may be available.

Role Title:  Director – US Financial Restructuring Counsel

Location:   New York, NY

What will you be doing:

Role holder is Barclays’ sole U.S. bankruptcy and restructuring attorney providing strategic legal advice and oversight with respect to all touchpoints of Barclays’ businesses with U.S. bankruptcy law.  Responsible for strategic legal advice and provision of legal services to the Special Asset Management (SAM) and Restructuring Financing Group (RFG) desks, legal execution work with respect to debt-to-equity transactions, and the provision of other U.S. bankruptcy law advice across Barclays.  As a leader on the BRTMA Legal team, the role holder will also provide advice and challenge to the Head of BRTMA Legal on a range of issues as well as assist in strategic matters covered by BRTMA Legal and the Legal function.

Key Accountabilities

Special Asset Management (SAM)Coverage – To serve as trusted and strategic advisor and provide comprehensive legal coverage for all matters of the SAM desk, which covers distressed loan positions in Barclays’ book.  This work includes but is not limited to:
negotiating and restructuring loan agreements with distressed borrowers and other lenders,
providing legal counsel to Barclays in all aspects of its role as Administrative Agent on revolving credit facilities and syndicated loans, in both in-court and out-of-court proceedings, both in the U.S. and in non-U.S. jurisdictions, and
providing other strategic advice where Barclays is a creditor of a distressed or insolvent counterparty.
Restructuring Finance Group (RFG) Coverage –To serve as primary legal contact for RFG, which provides debtor-in-possession financing (financing for companies operating in bankruptcy) and exit financing (financing for companies emerging from bankruptcy) and provide strategic advice to protect Barclays’ interests and enable business success in all critical phases of bankruptcy proceeding.  Work collaboratively with legal colleagues on the Investment Banking Legal team, who will conduct the execution legal work on RFG’s loan facilities.
Debt-to-equity Execution Work – Provide legal advice and execution work for the SAM and Principal Investments desks in connection with debt-to-equity transactions where Barclays is acquiring equity in a newly-reorganized counterparty as a result of the issuer’s prior loan default.
General U.S. Bankruptcy and Distressed Debt coverage – Serve as Barclays’ sole legal advisor on U.S. bankruptcy law and insolvency-related matters, providing advice as requested by Barclays’ colleagues, including but not limited to supporting Barclays’ Commercial Real Estate Asset Management desk in the context of protecting and enforcing its rights as lender to distressed borrowers as well as providing bankruptcy law advice on Recovery and Resolution Planning issues as needed.
Other team coverage.  To the extent the role-holder has capacity after fulfilling the primary functions above, to act as Legal representative on advisory and execution work across other areas of team coverage, as needed.
What we’re looking for:

Law degree
New York State Bar admission
12+ years of legal experience in corporate bankruptcy and restructuring, representing secured creditors and including deep knowledge of U.S. Bankruptcy Code
Experience with qualified financial contracts

Skills that will help you in your role:

Law firm experience representing corporate clients in relevant transactions
Relevant experience as in house counsel at a financial institution
Significant experience of counselling senior management on legal risk matters.
Experience assessing legal and regulatory risk in difficult and sensitive situations, such as a matter of acute time pressure and/or an issue of great materiality to the company.
Experience managing advisors and having maintained outstanding relationships with both internal and external suppliers of counsel.
Knows how the businesses work and understands the role the legal function can play in supporting business objectives; uses knowledge of the business and areas of professional expertise to advise on risks/reward trade-offs; sees ahead clearly and can identify appropriate paths to accomplishing future goals; knowledgeable in current and aware of possible future laws, regulations, policies, practices, and trends affecting the supported businesses