Senior Legal Counsel, Jun Financial Stability Unit, Legal

Bank Negara Malaysia; Kuala Lumpur; On-site; MYR 100,000 - 150,000; Full time

Job summary

A central financial authority is seeking a Senior Legal Counsel in Kuala Lumpur to manage legal risks and provide expert legal opinions on banking and Islamic financial institutions. The ideal candidate will possess a Bachelor of Laws or advanced degree, with at least 6 years of relevant experience in legal services, preferably with a statutory body. This role includes leading a legal team and collaborating with external stakeholders to ensure compliance and effective legal governance.

Benefits

EPF

SOCSO

Annual Leaves

Qualifications

• Minimum of 6 years in legal services, preferably in financial institutions or central banks.
• Legal knowledge in regulatory laws and risk management.
• Experience in managing legal teams.

Responsibilities

• Lead and coach legal team members to manage legal risks.
• Provide legal opinions on banking and Islamic banking matters.
• Draft and vet legal documents and legislation.

Skills

Knowledge of Malaysian legal system and common law

Legal advisory and drafting skills

Leadership skills

Legal research and analysis

Computer skills (Microsoft Office)

Education

Bachelor of Laws / Masters or PhD in legal field

Tools

Lexis Nexis

Lawnet

CLJ

Job description

Senior Legal Counsel, Jun Financial Stability Unit, Legal

Academic Qualifications

Degree: Bachelor of Laws / Masters degree or PhD in legal field related to the role is an added advantage.

Experience

• Minimum of 6 years working 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 / Knowledge

• Intermediate to advanced level of knowledge on Malaysian legal system and common law approaches to statutory interpretation.
• Intermediate to advanced level of knowledge in relevant areas of law including:
• 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.
• Intermediate to advanced level of skills in legal advisory, legal drafting, legal research, legal analysis, legal interpretation, problem-solving etc.
• Intermediate to advanced level of leadership skills in areas of people management, emotional intelligence, conflict resolution 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 protect the Bank’s interests by: (i) leading, guiding and coaching Legal Counsels and Associate Legal Counsels ("team members"); or (ii) collaborating with colleagues in JUN in providing the following services to the 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 clear and precise primary and subsidiary legislation that accurately reflects the Bank’s policies and requirements in relation to banking and Islamic banking; Drafting and vetting 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.
• Undertake or lead, guide, coach and supervise team members 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.
• Assist the Deputy General Counsel in coaching, developing and empowering and be a point of reference to team members, others in JUN as well as client departments in relation to matters that fall within the responsibility and accountability of the Financial Stability Team.
• Assist or advise the Deputy General Counsel (and JUN, where relevant and necessary) regarding allocation of sufficient resources within the Financial Stability Team, equitable and fair distribution of work among team members, resolution of conflict and progressive enhancement of technical and leadership competencies of team members in meeting JUN’s and the Bank’s needs and mandates.

Benefits

• EPF
• SOCSO
• Annual Leaves