Senior Paralegal, Global Foreign Exchange - Banking & Markets Group

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.

Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.

With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Role Overview

As a member of Northern Trust’s Legal Department, the Senior Paralegal will provide dedicated legal support to the Global Foreign Exchange business, with primary responsibility for drafting and negotiating derivatives and trading documentation, including ISDA Master Agreements and Credit Support Annexes (CSAs).

Working closely with Global Foreign Exchange attorneys and key business partners, the role will support the effective negotiation, execution and ongoing management of trading documentation and related counterparty arrangements. The position reports to a member of the Banking & Markets Group leadership team and requires strong technical expertise, sound judgement and the ability to manage complex documentation matters independently.

Primary Responsibilities

• Draft, review and negotiate ISDA Master Agreements, Credit Support Annexes (CSAs) and other FX and derivatives documentation, including pricing agreements and standing instructions.
• Manage negotiations with clients and counterparties, working closely with Legal, business and risk stakeholders to progress documentation efficiently and resolve outstanding points.
• Maintain and enhance templates, negotiation playbooks and standard documentation for ISDAs and other industry-standard FX and derivatives agreements.
• Support technology, process improvement and innovation initiatives relating to derivatives documentation and contract management.
• Partner with onboarding and financial risk teams to support the efficient onboarding of clients and counterparties.
• Conduct netting and collateral enforceability analysis, including reviewing legal opinions issued through relevant industry associations and bespoke opinions obtained from external counsel.
• Identify and escalate material legal, documentation and enforceability issues to the appropriate attorneys and stakeholders.
• Maintain a strong understanding of developments in derivatives documentation, regulation and market practice relevant to the Global Foreign Exchange business.

Skills & Experience

• Extensive experience drafting and negotiating derivatives documentation, particularly documentation relating to FX derivatives.
• Strong working knowledge of ISDA Master Agreements, CSAs and other industry-standard FX and derivatives documentation.
• Good understanding of the legal and regulatory framework governing derivatives and financial markets across relevant jurisdictions, including applicable US, UK and EEA requirements such as Title VII of the Dodd-Frank Act, MiFID, EMIR and CRD VI.
• Strong contract drafting and negotiation skills, with the ability to identify key legal and commercial issues and progress negotiations effectively.
• Excellent organisational, communication and stakeholder-management skills, with the ability to manage multiple priorities and deadlines.
• Ability to work independently, exercise sound judgement and take ownership of matters while collaborating effectively with Legal, Risk and business stakeholders.
• Comfortable working in a complex, global financial services environment with multiple internal and external stakeholders.

Qualifications & Experience

• Paralegal qualification, certificate or equivalent, where required by the relevant jurisdiction.
• Minimum of 5 years’ relevant experience gained within a nationally recognised law firm and/or an in-house legal department, with experience supporting foreign exchange, derivatives, securities finance or a comparable transactional practice.

Work Authorization

Applicants must have the right to work in Ireland at the time of application and for the duration of employment.

Please note that Northern Trust is unable to provide employment permit sponsorship for this role. This includes Critical Skills Employment Permits, General Employment Permits, Intra-Company Transfer Employment Permits, Stamp 1G permissions, and other employment permits under Irish immigration frameworks.

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.

Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com, or alternatively you can discuss your individual requirements with the recruiter you are working with.