Associate Legal Counsel, Financial Stability Unit | Legal Department

POSITION: Associate Legal Counsel, Financial Stability Unit | Legal DepartmentROLE PURPOSE1. Provides the following in-house legal services in managing the Bank’s legal risks and protecting the Bank’s interests under the supervision of Senior Legal Counsel(s) and Deputy General Counsel:legal advice on regulatory laws i.e. Financial Services Act 2013 (“FSA”) and Islamic Financial Services Act 2013 (“IFSA”) on banking and Islamic banking on the areas relating to licensing, prudential requirements, Shariah requirements imposed on Islamic financial institutions (IFIs), shareholdings, financial groups, business and market conduct requirements, examination powers, intervention and resolution actions as well as enforcement actionsdraft the relevant primary and secondary legislation issued pursuant to the FSA or IFSA in relation to banking and Islamic bankingdraft and review other legal instruments specified or made pursuant to the FSA and IFSA such as discussion papers, exposure drafts, policy documents, specification letters, guidance, enforceable undertakings, agreements, memorandum of understanding, empowerment instruments etc. in relation to banking and Islamic bankingreview the draft enforcement related documents such as show cause notices and final orders issued pursuant to the Bank’s enforcement actions under the FSA and IFSA excluding AMP, compound and criminal actions in relation to banking and Islamic bankingreview draft letters to be issued to third parties, in relation to complaints made regarding financial institutions, approval / rejection letters to applications relating to licensing, shareholding or other relevant banking and Islamic banking matters under the FSA and IFSAlegal advice on other laws related to the regulations and supervision of financial institutions such as the Malaysia Deposit Insurance Corporation Act 2011, Capital Markets and Services Act 2007, Companies Act 2016, Competition Act 2010, Credit Consumer Law, Labuan Financial Services Authority Act 1996, Labuan Financial Services and Securities Act 2010 and Labuan Islamic Financial Services and Securities Act 2010 etc.review the Bank’s property management agreements (e.g. tenancy agreements), including variation letters to the agreements etc.provide legal advice on the issues arising from the Bank’s property management agreement2. Participate as a presenter or contributor in the Bank-wide events (e.g. Banking Supervision School), to provide legal awareness or education to stakeholders in areas relating to the legal services provided under the FSA/IFSA i.e. policy document drafting courses and on-call legal clinics.ResponsibilitiesPRINCIPAL ACCOUNTABILITIES1. Assist the Bank in managing its legal risks and protecting the Bank’s interests by undertaking and collaborating with colleagues in JUN in providing the following services to relevant line departments,Provision of quality, timely, practical and value-added legal opinions on matters relating to licensing, prudential requirements, Shariah requirements imposed on Islamic financial institutions (IFIs), shareholdings, financial groups, business and market conduct requirements, examination powers, intervention and resolution actions as well as enforcement actions under the FSA and IFSA in relation to banking and Islamic banking;Drafting of clear and precise primary and subsidiary legislation that accurately reflect the Bank’s policies and requirements in relation to banking and Islamic banking ;Drafting and vetting of other legal instruments such as discussion papers, exposure drafts, policy documents, specification letters, guidance, enforceable undertakings, agreements, memorandum of understanding, empowerment instruments etc. that reflect the Bank’s policies and requirements, and facilitate in achieving the intended regulatory outcome in relation to banking and Islamic banking; andEffective participation in taskforce, project of the Bank committees of the Bank or external committees as well as meetings or as a project lead of departmental projects handled by JUN in relation to banking and Islamic banking.Participate in promoting legal awareness among client departments.Liaise with, collaborate and manage internal and external stakeholders such as ministries, Attorney General’s Chambers, Treasury Solicitor’s Office, Malaysia Deposit Insurance Corporation, Securities Commission Malaysia, Consumer Credit Oversight Board Task Force, Malaysian Bar Council, other Government agencies, external legal firms appointed by the Bank etc.QUALIFICATIONS & EXPERIENCESAcademic Qualifications: Bachelor of Laws.Experience: 2 to 5 years working experience (in the case of Kijang Graduates, at least 18 months experience) in rendering legal services in any of the following capacity:in-house legal counsel in a statutory body, financial institution or other corporate entity;legal practitioner in the Judicial and Legal Service; or private legal practitioner.Working experience with a central bank or financial regulatory authority is an added advantage.TECHNICAL SKILLS/ KNOWLEDGE1. Basic to intermediate level of knowledge on Malaysian legal system and common law approaches to statutory interpretation.2. Basic to intermediate level knowledge in the relevant areas of law including the following:Powers, responsibilities, limitations and liabilities of a statutory body and regulatory authority;Regulatory laws administered by the Bank including the regulatory objectives, the Bank’s powers, the obligations of the regulated entities etc.;Powers, responsibilities, limitations and liabilities of other relevant regulatory authorities such as Malaysia Deposit Insurance Malaysia Competition Commission, Securities Commission Malaysia, Malaysia Competition Commission etc. implications of the laws administered by such authorities in respect of the financial institutions regulated by the Bank;Enforcement; andLegal risks management.Basic to intermediate level of skills in legal advisory, legal drafting, legal research, legal analysis, legal interpretation, problem-solving etc.Basic to intermediate level of computer skills including Microsoft Outlook, Teams, Edge, Word, Excel and Power Point and ability to conduct research using online legal databases (e.g. Lexis Nexis, Lawnet and CLJ).