The Legal Officer is Corporate Counsel to the Investment Bank. The incumbent’s responsibilities cover all operations of the company but are primarily focused on the following areas:
The Legal Officer shall provide the company’s Private Wealth clients with a range of legal services with the except of litigation. As Dry Associates is a one-stop investment bank, it 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 position.
Investment Banking is a core function of Dry Associates 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 the continuing reporting requirements associated with these issues.
For example, the company currently operates 10 short and medium terms fixed income programmes 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 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 the 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 is outsourced to legal firms, however, the Legal Officer is responsible:
• 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
The Legal Officer shall report to the General Manager, Back & Middle Offices.