Associate Legal Counsel, Jun Financial Stability Unit, Legal

Bank Negara Malaysia; Kuala Lumpur; On-site; MYR 60,000 - 80,000; Full time

Job summary

A prominent central bank in Kuala Lumpur seeks an Associate Legal Counsel to manage legal risks and provide legal opinions on banking regulations. The ideal candidate will have 2 to 5 years of relevant experience, including knowledge of Malaysian law. Responsibilities include drafting legislation, collaborating with stakeholders, and promoting legal awareness. This role offers benefits such as EPF, SOCSO, and annual leaves.

Benefits

EPF

SOCSO

Annual Leaves

Qualifications

• 2 to 5 years experience in legal services or relevant roles.
• Experience with central banks or regulatory authorities is a plus.
• Knowledge of Malaysian legal system and common law.

Responsibilities

• Assist in managing legal risks for the Bank.
• Provide legal opinions on regulatory matters.
• Draft primary and subsidiary legislation.
• Liaise with various stakeholders on legal matters.

Skills

Legal advisory skills

Legal drafting

Legal research

Legal interpretation

Problem-solving

Computer skills (MS Office)

Job description

Associate Legal Counsel, Jun Financial Stability Unit, Legal

• 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 capacities:
  • in‑house legal counsel in a statutory body, financial institution or other corporate entity;
  • legal practitioner in the Judicial and Legal Service;
  • private legal practitioner.
• Working experience with a central bank or financial regulatory authority is an added advantage.

Technical Skills / Knowledge

• Basic to intermediate level of knowledge on Malaysian legal system and common law approaches to statutory interpretation.
• 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; and
• Legal 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).

Responsibilities

• 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; and
  • Effective 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.

Benefits

• EPF
• SOCSO
• Annual Leaves