ISDA Negotiator & Legal Counsel

About us:

The Commonwealth Bank of Australia’s (CBA’s) purpose is to build a brighter future for all. CBA’s Institutional Banking and Markets (IB&M) division is responsible for managing the Group’s relationships with major corporate and government clients and institutional investors, and provides a full range of capital raising, transactional, and risk management products and services. The division also performs an important internal role for the Group by providing equities, markets, lending, and transaction banking execution capabilities to other CBA business units that allows them to capture opportunities with business customers. CBA’s New York and London branches form part of IB&M.

Job Description:

CBA is recruiting for the New York-based role of ISDA Negotiator & Legal Counsel within IB&M Legal. In this unique hybrid role, you will (i) support the Global Markets Documentation (GMD) team, which is responsible for the negotiation of master agreements and associated documents, within IB&M, and (ii) provide legal support as part of the IB&M Legal team, principally to CBA’s London and New York branches.

See yourself in our team:

You will provide advice and assistance to GMD, reporting directly into the Head of Global Markets Documentation and indirectly to Head of Legal, UK and Head of Legal, Americas.

Do work that matters:

For the GMD component of this position, we are seeking a skilled and detail-oriented ISDA Negotiator in New York. The successful candidate will be responsible for drafting, negotiating, and executing International Swaps and Derivatives Association (ISDA) agreements and related documentation to support the bank’s global markets business. This portion of the role requires a deep understanding of derivatives, regulatory frameworks, and market practices, along with strong negotiation and communication skills. For the IB&M Legal component of this position, we are seeking a lawyer who can provide expert legal advice and assistance to the IB&M business.

GMD Component Objectives

• Draft, review, and negotiate ISDA Master Agreements (including Schedules), Credit Support Annexes, and related trading agreements with institutional counterparties;
• Negotiate ancillary agreements, including guarantees, netting agreements, and electronic trading documentation;
• Review guaranties or other forms of credit support documents provided in connection with derivative and related transactions;
• Incorporate appropriate provisions for Know Your Customer, risk mitigation, and other legal and regulatory considerations;
• Take active role in assisting business owners on day-to-day questions and tasks;
• Advise the business on complex issues related to relevant documentation;
• Assist in implementing industry best practices and contribute to process improvements;
• Provide accurate, timely, commercial advice through effective communication; and
• Work collaboratively with GMD colleagues located in New York, London, Sydney and Brisbane.

IB&M Legal Component Objectives

• Provide high-value and timely legal advice and services, including providing insight into legal and regulatory issues, undertaking transactional work, preparing documents, negotiating agreements, instructing counsel and liaising with various stakeholders across the business, principally in global markets, institutional lending and commodities;
• Adhere to CBA’s legal policies and frameworks, proactively identifying and mitigating against legal risks;
• Develop and maintain a detailed understanding of, and expertise in, CBA’s legal practices and risk appetite, and apply this knowledge to provide strategic legal advice;
• Establish and maintain effective and appropriate working relationships with the CBA’s business units, with a primary focus on providing legal support and advice to IB&M, the New York Branch and IB&M’s Northern Hemisphere businesses;
• Contribute to a team culture through excelling in customer service, simplifying processes and identifying opportunities for continuous improvement where applicable; and
• Work efficiently and collaboratively with other areas within IB&M Legal around the world.

We’re interested in hearing from people who have:

• 3-5 years of experience as a markets lawyer in New York in good standing or as an ISDA negotiator with legal qualifications;
• Excellent knowledge of the ISDA Master Agreement, Credit Support Annex and associated documentation, including in the context of interest rate swaps, FX, credit derivatives, and equity derivatives with different types of counterparties (e.g., hedge funds, sponsors, investment funds, insurance companies, trustees of trusts, and partnerships), with knowledge of other types of master agreements used in the global markets (e.g., GMRAs, GMSLAs, give-up agreements), and experience reviewing confirmations, being advantages;
• The ability to confidently review partnership agreements, guarantees and other forms of credit support documents in connection with derivatives and related transactions;
• Experience operating in banking and finance, preferably in a top tier law firm and also in-house, and ideally with cross-border experience;
• Strong knowledge of some or all of Variation Margin/Initial Margin, closeout netting, and other relevant laws, regulations and current issues applying to derivatives, banking, and finance;
• Excellent technical legal skills, including the ability to grasp quickly, negotiate and resolve issues in the negotiation of global markets documentation;
• Sound understanding of best practice for delivery of legal services;
• The ability to coordinate with legal, risk, front office, collateral, tax, and other internal clients to resolve issues and obtain relevant approvals;
• Excellent written and verbal communication skills and record keeping/database management skills;
• The ability to work independently and as part of a team, and to prioritise and perform consistently in a high-volume environment; and
• A can do and pragmatic attitude.

The salary range for this role is from $138,000 to $187,000. The salary may vary based upon several factors including, but not limited to, relevant skills/experience, time in role, base salary of internal peers, prior performance, business line, and geographic/office location. Other benefits (subject to change) are available including healthcare, discretionary bonus, 401k, GymPass etc.

Advertising End Date: 12/03/2025