Legal Officer at Dry Associates Limited Investment

Responsibilities

The Legal Officer acts as corporate counsel to the Investment Bank which means the Legal Officer shall be a proactive member of management advising on all matters legal. The incumbent’s responsibilities cover all operations of the company but are primarily focused on the following areas:

Private Wealth

The Legal Officer shall provide the company’s Private Wealth clients with a range of legal services except for litigation. As Investment Bank is a one-stop investment bank, its legal services are an integral part of the company’s family office support functions. These services will include:

• Eldercare services including trusts, wills, power of attorney, etc.
• Succession and estate planning
• Asset & Real estate conveyancing
• Contract preparation

This is the entrepreneurial aspect of the Legal Officer’s position as fees are charged for these services which form part of the compensation of the incumbent.

Investment Banking

Investment Banking is a core function of Investment Bank Investment Bank. The company is an active Transaction Advisor of numerous fixed income and equity issuances. As such, the position requires extensive drafting and review of legal documentation supporting these new issues as well as continuing reporting requirements associated with these issues.

For example, the company currently operates 10 short and medium terms fixed income programs each with annual requirements for updated Information Memorandums, operating agreements, guarantee agreements, and so on. Some of the issuers go on to issue long term corporate bonds with their associated bond indentures and covenants. The Legal Officer will be responsible for ensuring this documentation is appropriate. The Company is also active in the equities space and requires legal review of documentation supporting listing of securities, trading of securities, and increasingly private equity transactions.

Compliance

Compliance is an increasingly complex and resource heavy requirement of financial institutions. As such, the Legal Officer will ensure the Company is compliant at all times with rules and regulations governing an investment bank. Some of these responsibilities are as follows:

• Liaise with the Capital Markets Authority, Retirement Benefits Authority, Financial Reporting Centre (FRC), FATCA (registration to be implemented) and the Nairobi Securities Exchange (for all applicable products and services).
• Ensure that all transactions are in strict compliance with the Proceeds of Crime and Anti-Money Laundering Act (No. 9 of 2009) and the Prevention of Terrorism Act (No. 30 of 2012) in the capacity of Money Laundering Reporting Officer.
• Conduct regular staff training on compliance matters, new areas of relevant laws and anti-money laundering and terrorism finance.
• Conduct thorough due diligence on high-risk clients (including but not limited to Politically Exposed Persons), as well as those from high-risk jurisdictions.
• Ensure compliance with an evolving compliance regime including areas such as FATCA and cross border tax compliance.

Litigation

Litigation is outsourced to legal firms, however, the Legal Officer is responsible for:

• Preparing any documentary evidence to be used by external counsel
• Engage with external counsel to ensure that any cases prepared and brought to conclusion in a timely manner
• Attend any court sessions and update management on developments.

Duties

Private Wealth

Develop an outreach programme to encourage use of the Company’s legal services. Prepare monthly bulletins which will be sent to clients addressing matters of particular interest to our clients. Use hypothetical cases where appropriate to highlight possible areas for concern to elderly clients.

Investment Banking

Work closely with the origination and research staff to prepare legal documentation supporting in-house security issuances requiring little or no outside counsel. When outside counsel is used, as when the Company acts as Transaction Advisor with multiple parties to a transaction, review all legal documentation for appropriateness. Ensure that all continuing reporting documentation for issuers is prepared and issued on schedule.

Compliance

Take an active approach to compliance maintaining contact with regulators and peers in other investment houses to identify and correct any area(s) of non-compliance.

Litigation

Organize all legal files so that case files are complete and easily accessed. Familiarize yourself with each case and work with Company management and outside counsel to develop a winning legal strategy. Prepare witness statements in your name as Legal Officer where possible and help prepare witness statements from current or former staff to support legal filings. Attend court mentions, hearings and other events to keep current on all proceedings. Familiarize yourself with the Company’s professional indemnity insurance and advise if or when such insurance might be called upon.