Senior Legal Counsel, Financial Stability 2, Legal

ROLE PURPOSE

Senior Legal Counsel's role is crucial to provide in-house legal services to the Bank, primarily in relation to –

• legal advice/opinion relating to the Bank's operations under the Central Bank of Malaysia Act 2009 (CBA) and the Bank's regulatory functions such as under the Financial Services Act 2013 (FSA), Islamic Financial Services Act 2013 (IFSA), Development Financial Institutions Act 2002 (DFIA) and Money Services Business Act 2011 (MSBA);
• legal advice on other laws relating to the regulations and supervision of financial institutions such as Capital Markets and Services Act 2007, Companies Act 2016, Labuan Financial Services Authority Act 1996, Labuan Financial Services and Securities Act 2010, Labuan Islamic Financial Services and Securities Act 2010, Malaysia Deposit Insurance Corporation Act 2011, Co-operative Societies Act 1993, Malaysia Co-operative Societies Commission Act 2007 etc.;
• drafting/review of legislation and subsidiary legislation, policy documents and other legal instruments in accordance with the Bank's policy requirements (e.g. specifications/supervisory letters) to support the Bank's operations/functions.

This role is pivotal in supervising and guiding Legal Counsel/Associate Legal Counsel in the above areas of work.
 

PRINCIPAL ACCOUNTABILITIES

• Supervise Legal Counsel/Associate Legal Counsel in providing quality, timely and practical legal advice on regulatory, supervisory, enforcement and/or compliance issues related to the following matters to identify and manage the Bank's legal risks and protect the Bank's interests -
  • payment systems operation
  • payment instruments issuance
  • money services business
  • insurance and takaful
  • development financial institution business
  • intermediaries in financial services, i.e. merchant acquirers, financial advisers, adjusters
  • commitments and obligations in international trade agreements
  • conveyancing and procurement
  • intellectual property, technology and cybersecurity
• Supervise Legal Counsel/Associate Legal Counsel in drafting clear and precise principal legislation, subsidiary legislation, policy documents and other legal instruments which accurately reflects the Bank's policies and regulatory requirements.
• Supervise Legal Counsel/Associate Legal Counsel in drafting clear and precise , international trade agreements, memorandum of understanding and other documents related to cooperation framework between other regulatory authorities and international organisations.
• Participate effectively in taskforce or project of the Bank or departmental projects/roles as determined by JUN.
• Assist Deputy General Counsel in coordinating and promoting legal awareness and compliance.
• Assist Deputy General Counsel in liaising with external parties, locally and internationally on legal matters relating to regulations of industries under the Bank's purview.
• Establish and maintain good relationship with external stakeholders such as Ministry of Finance, AG's Chambers, Treasury Solicitor's Office, Securities Commission, Companies Commission, Bar Council, PIDM, Government Agencies and external lawyers on related matters.
• Promoting legal awareness and compliance within the Bank.

QUALIFICATIONS & EXPERIENCE

Academic Qualifications:

• LL.B (Hons), preferably with Masters in law.

Experience: 

• At least 6 years working experience in rendering legal services as in-house legal counsel or a legal practitioner in corporate and financial industry.

TECHNICAL SKILLS/ KNOWLEDGE

• Fluent in written and spoken English and Bahasa Malaysia.
• Legal research skills, including the ability to utilize online legal databases effectively e.g. LexisNexis, Lawnet.
• Familiar with the laws administered by the Bank (e.g. CBA, FSA, IFSA, DFIA and MSBA) and general laws e.g. Companies Act 2016, Contracts Act 1950 and Interpretation Acts 1948 and 1967.
• Able to identify legal issues and propose the relevant solutions that are legally sound, appropriate and practical.
• Basic computer skills e.g. Microsoft Word/ Powerpoint.