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Commercial and Regulatory Counsel/Compliance Manager - Houston, TX
December 14, 2017
Full Time - Senior Attorney
7-10 years experience
At BASF, we create chemistry through the power of connected minds. By balancing economic success with environmental protection and social responsibility, we are building a more sustainable future through chemistry. As the world’s leading chemical company, we help our customers in nearly every industry meet the current and future needs of society through science and innovation.
We provide a challenging and rewarding work environment with a strong emphasis on process safety, as well as the safety of our employees and the communities we operate in, and are always working to form the best team—especially from within, through an emphasis on lifelong learning and development.
And we are constantly striving to become an even better place to work. BASF has been recognized by Forbes Magazine as one of America’s Best Employers in 2017. Come join us on our journey to create solutions for a sustainable future!
Commercial and Regulatory Counsel/Compliance Manager (1704251) – Houston, TX
Where the Chemistry Happens
We are searching for a professional like you who will provide pragmatic and strategic legal advice to executives, business management, and operational personnel of a commodities trading business with a focus on natural gas, NGLs, and petrochemicals, on a broad array of legal and risk management issues. You will be relied on to counsel and guide key stakeholders on a range of commercial disputes and regulatory enforcement actions that arise during business
Create Your Own Chemistry: What We Offer You
Adding value to our customers begins with adding value to you. You@BASF is the suite of benefits, perks, programs and unique opportunities we offer to support you—the whole you—in all stages of your life and career. With you@BASF, you create your own chemistry.
The total rewards that you receive as a BASF employee go way beyond a paycheck. From competitive health and insurance plans, to robust retirement benefits that include company-matching contributions, to making sure you never stop learning, we believe investing in you is investing in our success. Working for a large, global organization, you’ll have a chance to grow professionally and personally, expand your network and build a rewarding and dynamic career.
BASF provides interesting and challenging learning and development opportunities to help you make the most of your talents and your job.
Formula for Success:
Commercial and Regulatory Counsel/Compliance Manager – Houston, Texas
Duties & Responsibilities:
Provide pragmatic, strategic and day-to-day legal advice and support to executives, business management and operational personnel of a commodities trading business with an emphasis on natural gas and NGLs, and petrochemicals including counsel on a broad array of legal and risk management issues (e.g. contracts and financial markets compliance matters, competition law) and counsel and guidance on the full range of commercial disputes and regulatory enforcement actions arising in the business;
Report to a senior lawyer on the BASF North American legal team;
Advise the relevant credit, risk management, and other control functions;
Manage relations with outside legal advisers;
Monitor developments and liaise with the central compliance function in New Jersey regarding commodity markets regulations and antitrust law;
Coordinate with regional legal teams on legal issues that impact their respective region;
Lead negotiations, help structure transactions and draft transactional documents, including e.g. offtake or distribution agreements, bespoke master trading agreements, margining agreements, and security documents, ISDA master agreements, EEI and NAESB agreements, working as required with in-house and outside subject matter experts;
Develop, draft and negotiate gas transactions, including asset management agreements, auctions and RFP responses, and gas supply, storage and transportation agreements;
Identify issues requiring, and establish and manage, cross-functional teams (e.g., intellectual property, tax, litigation, regulatory, and/or compliance counsel, risk management, finance and EH&S) to ensure complete and efficient resolution of all matters/transactions;
Participate in senior leadership team meetings of the assigned business unit in order to align legal support with business strategy; and
Provide compliance and legal training on relevant BASF policies, procedures and legal issues to meet the clients’ needs.
Keep abreast of regulatory developments and keep business advised about changes pertaining to the business;
Assist with the management of regulatory relationships, including visits, investigations, enquiries, and routine reporting;
Monitor changes to existing or new business practices and products to ensure that compliance guidance, training and oversight are adjusted accordingly;
Assist the business in complying with all relevant regulations and provide the necessary advice and guidance to help ensure that appropriate operating procedures and controls are in place;
Provide proactive regulatory advice to business managers and support functions;
Act as the key liaison with the CFTC and SROs; respond to CFTC and SRO correspondence and queries;
Update and maintain CFTC and SRO mandated records;
Work with other functional departments in relation to the application of rules and regulations to their function;
Work with the Regional Controller to develop and maintain Departmental policies and procedures, which are consistent with BASF Group’s global policies;
Lead or support compliance related projects as and when required;
Update and maintain the list of authorized traders for BIT Corporation; and
Act as the contact person for the North American service platform compliance function, in particular with respect to Trade Controls (trade sanctions regimes) and with the Commodity Markets regulations compliance function in Switzerland.
J.D. from and accredited U.S. law school;
Admitted to practice in in Texas or another U.S jurisdiction and with the ability to practice law in-house in Texas;
7-10+ years of experience working in a law firm, or practicing as in-house counsel for an energy or commodities trading company;
Extensive experience analysing, preparing and conducting strategic negotiations for a broad array of commercial transactions;
Proficiency in one or more of the following areas is required: commodities trading; commodities markets regulations; insolvency (familiarity with antitrust law a plus);
Solid knowledge of ISDAs, EEIs, NAESBs, EFRPs, EFSs and EOOs required;
Specific experience with regulatory issues related to the CFTC, FERC, FTC, NFA, CEA, and Natural Gas Pipeline FERC-Filed Tariffs required experience with the Dodd Frank Act, NGA, NGPA, EPAct is a plus;
Solid experience with ICE, NGX and CME;
Strong negotiation and communication skills (written and oral) are required;
Demonstrated well-developed real-world business judgment;
Demonstrated ability to effectively influence and communicate and interact with all levels of personnel and management including senior executives;
Ability to effectively communicate to internal and external stakeholders;
A team-oriented, collaborative work style;
Possessing initiative and the ability to work independently and make autonomous decisions;
A desire to learn new and challenging areas of the law;
A demonstrated ability to adapt to a changing environment;
The ability to manage a diverse workload and work under pressure with tight deadlines; and
Developed proficiency in the following competencies must be evident and demonstrated:
At BASF, we create chemistry through the power of connected minds. By balancing economic success with environmental protection and social responsibility, we are building a more sustainable future through chemistry. As the world’s leading chemical company, we help our customers in nearly every industry meet the current and future needs of society through science and innovation. We provide a challe...nging and rewarding work environment and are always working to form the best team—especially from within, through an emphasis on lifelong learning and development. We are constantly striving to become an even better place to work. BASF has been recognized by Forbes Magazine as one of America’s Best Employers in 2017. Come join us on our journey to create solutions for a sustainable future! Where the Chemistry Happens…