Associate Director, Investment Legal - Debt Focus
Reports to: ED, Head of Investment Legal
Based: Edinburgh or Glasgow
About the Bank
The Scottish National Investment Bank is a new development investment bank for Scotland with a vision to catalyse change by investing in a fairer, sustainable and ambitious Scotland. The Bank is a mission-led patient capital investor, with long-term missions set for it by the Scottish Parliament. Its missions include:
·Net Zero Mission: achieving a just transition to net zero by 2045.
Investing in rebalancing our economy towards leadership in sustainable technology, services and industry.
·Place Mission: extending equality of opportunity through improving places by 2040.
Investing in places and regeneration to improve opportunities and outcomes for people and communities.
·Innovation Mission: harnessing innovation to enable our people to flourish by 2040.
Investing in innovation and technology and industries of the future for a healthier, more resilient and productive population.
The Bank will seek to enhance and expand the financial investment options available to business and projects across Scotland.
The Associate Director, Investment Legal - Debt Focus will report to the Head of Investment Legal and be part of a small team working alongside the Bank's investment risk and investment origination team providing internal legal expertise as potential deals develop. The investment legal team is also responsible for ensuring consistency in terms offered and the inclusion of required covenants across all the Bank's investments to ensure our investments contribute to our missions and comply with our minimum ethical investment standards etc. The Bank will be investing (debt and equity) in corporates, project finance, leasing structures and externally managed funds. The Associate Director, Investment Legal - Debt Focus will primarily work on the debt investments that the Bank undertakes but on occasion will likely be asked to support some equity and fund investment opportunities the Bank is considering.
The role is full-time and permanent, however applications from individuals seeking flexible working arrangements will be given due consideration. The Bank will have hub offices in Edinburgh and Glasgow, although we currently only have an office in Edinburgh. Once the current pandemic is over and office working is possible, there will be a requirement to work from the office but the Bank will also continue to support flexible working where appropriate.
·Working alongside the investment team structuring and negotiating the Bank's investments on a consistent legal basis. This will involve assisting in the design of investments through the typical contractual life-cycle of an investment transaction (from NDA through term sheet and due diligence to executed investment documents) and then over the course of the Bank's long-term patient capital investment horizon to exit.
·Identifying legal and commercial risks arising in respect of the investments that the Bank plans to make alongside the investment origination and investment risk team.
·Working collaboratively with the wider team to communicate risks as appropriate to other stakeholders within the Bank and, where necessary, seeking to manage such risks (whether in transaction documentation or otherwise).
·Attending and contributing to the Bank's Investment Committees and reporting through the Bank's governance structures as required.
·Assisting the Bank's investment team and other stakeholders within the Bank to ensure that the Bank acts ethically and with integrity and safeguards investment capital.
·Ensuring that the Bank's missions, its status as a provider of patient (but not passive) capital, its ethical and reporting requirements, Subsidy Control requirements and the nature of the Bank's operationally independent relationship with Scottish Government feature appropriately in each investment the Bank makes.
·Managing external counsel appointed from the Bank's panel of law firms to ensure that the Bank receives a high-quality service at an appropriate cost and ensuring consistency of support across the investment pipeline and portfolio.
·Providing input and support and to the investment origination team to ensure the Bank's investments capture the mission alignment of investments and ensure the Bank's investment delivers mission impacts.
·Embedding a culture of good governance and high ethical standards through influence on communication and promotion of the Bank's missions, culture and values.
·Raising awareness of and embedding best practice in relation to legal issues in all areas of the Bank's operations.
·A relevant legal qualification.
·Experience in-house/in-fund or in a leading law firm.
·Excellent communication skills, both oral and written including the ability to convey complex legal concepts in straight-forward language.
·Knowledge of the financial services regulatory environment relating to the Bank.
·Problem-solving and decision-making skills, with the ability to analyse complex information to identify the key issue/action and drive resolution.
·Ability to prioritise and proactively identify the highest priority deals in a busy and diverse pipeline.
·Strong negotiation skills to support the closing of investments.
If this opportunity is of interest, please submit a tailored CV and Cover Letter no later than midnight on Sunday 26th September.
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