Legal- VP, Assistant General Counsel- Asset Based Lending- Commercial Bank Law
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
The Legal Department of JPMorgan Chase & Co is responsible for the provision of legal services to the Corporation and is organized by practice groups that generally align with the Corporation’s lines of business and corporate staff areas. This structure encourages legal teams and businesses and staff areas to discuss legal, regulatory and business developments effectively and in a timely manner.
Commercial Banking, one of the JPMorgan Chase & Co. businesses, delivers extensive industry knowledge, local expertise and dedicated service to more than 24,000 clients, including corporations, municipalities, financial institutions and not-for-profit organizations with annual revenue generally ranging from $20 million to $2 billion and nearly 35,000 real estate investors/owners. Commercial Banking offers a comprehensive set of financial products and services including credit, equipment finance, real estate finance, treasury services and provides clients with access to the investment banking services of J.P. Morgan.
We are seeking an attorney experienced in secured lending transactions who will be based in Chicago and will be responsible for providing legal support to the Asset Based Lending (ABL) business within Commercial Banking. ABL is a leading national provider of highly structured asset-based solutions for a wide array of complex financing needs. ABL focuses on companies in the U.S. and Canada with annual revenues of over $20 million, and also has expertise lending to subsidiaries of U.S. entities located in Western Europe. Transaction sizes range from $5 million to over $1 billion. The individual will be part of a team of Legal colleagues (the Credit Markets Team) that also supports the Equipment Finance Group, Sponsors Finance Group, Commercial Banking Syndications, and the ESOP Advisory Group nationally.
Responsibilities will include:
•Transactional support, including analysis and advice on structural and risk issues.
•Reviewing, negotiating and drafting of credit and collateral documentation, amendments and waivers; drafting, reviewing and negotiating indicative term sheets, proposal and commitment letters, intercreditor agreements and confidentiality agreements.
•Representing ABL in relationships with other syndicate lenders and borrowers, including providing advice on workout credits.
•Advising the business on regulatory and compliance policies and issues; conducting legal research; staying current on trends and developments in the asset based lending industry.
•Supporting and maintaining outside counsel relationships for ABL; coordinating engagement of ABL outside counsel.
•Maintaining existing and establish new forms of proposal letters, commitment letters and term sheets, credit and security agreements, and other ABL forms.
•Escalating issues as appropriate and sharing potential concerns, issues, and ideas with functions across the company.
•Partnering with Risk, Controls, and Compliance colleagues regarding operational and regulatory risk and control issues and the applicability of federal and state law and regulation to the business.
•Advising the ABL Operations team on questions regarding the booking, funding and servicing of ABL loans in accordance with loan documents.
•Periodic projects related to new product offerings, marketing, regulatory matters and other business initiatives.
Qualifications:
•JD or educational equivalent required with at least 5 years of post-JD practicing experience at a law firm and/or in-house legal department at a large bank or other financial services company.
•Attorney candidates must be in compliance with all relevant licensing requirements including the requirements of the jurisdiction where the role will be located prior to commencement of employment.
•Knowledge of the legal and regulatory requirements for asset based, secured lending and an ability to understand the business needs of ABL.
•Excellent verbal and written communication skills, with demonstrated ability to listen and drive results in a team setting.
•Strong interpersonal skills with ability to interact effectively with clients and partner with the Credit Markets team, other members of the Legal Department and the business to find solutions.
•Effective and efficient problem solver; excellent organizational skills with strong ability to prioritize and effectively manage multiple issues at one time.
•Self-starter with strong analytical and collaborative skills; able to deliver high-quality results under tight deadlines.
•Successfully complete a conflicts of interest clearance prior to commencement of employment.
•All candidates for roles in the Legal department must successfully complete a conflicts of interest clearance review prior to commencement of employment.
Contact: Stephanie.Milelli@jpmchase.com