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MUFG Union Bank Libor Contract Remediation - Lending Attorney. Vice President (Term Employment) in New York, New York

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Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world. Across the globe, we’re 180,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

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Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

This is a hybrid position. There are flexible work from home options available. A member of our recruitment team will discuss the options with you in more detail.


As part of its LIBOR transition program in the Americas, MUFG affiliates including MUFG Bank, Ltd. U.S. branches, MUFG Securities Americas Inc. and MUFG Union Bank, N.A., will be working on remediating prior to the end of 2023 legacy US-law governed contracts, agreements and other documents that use LIBOR as a reference rate (the “Project”). Additionally, the Project may involve and/or take into consideration the transition of and remediation related to other IBOR benchmarks (all such benchmarks are collectively referred to as “LIBOR”). MUFG has engaged separate counsel to advise on overall LIBOR transition strategy and contract remediation strategies.

Term Employment:

This a term employment position. Term employment is an employment status in which the Bank hires an individual for a designated period of time, not exceeding 2 years. The term employee can perform any job function within the Bank, receiving all the benefits of a regular status employee, except separation pay programs, merit increases, job posting capabilities or holding a corporate title. If you are converted to a regular employment status position or are hired in a different regular employment status position within the Bank, the time worked as a term employee will count towards all benefits.

Job Summary:

MUFG is seeking an experienced transactional credit attorney with a minimum of 5 years’ experience to support contract remediation in relation to the Project for the Global Corporate and Investment Bank (GCIB) of MUFG Bank, Ltd. U.S. branches. Background and substantive experience in some or all of the following areas would be required: secured and unsecured bilateral credit facilities, syndicated credit facilities (as both the administrative agent or as a lender in the syndicate) and other various credit products. Previous experience in large projects, including project management would be a significant positive.

Major Responsibilities:

  • Provide legal advice, review, draft and negotiate amendment documentation and provide all related legal transaction management activities for bilateral credit facilities to transition LIBOR to the agreed risk free rate (RFR) or an alternative reference rate (ARR);

  • Instruct external legal counsel, review amendment documentation and provide related legal transaction management activities with external counsel for syndicated credit facilities (as lead lender/administrative agent) to transition LIBOR to the agreed RFR or ARR;

  • Review amendment documentation prepared by external counsel for syndicated credit facilities (where MUFG is a lender in the syndicate) to transition LIBOR to the agreed RFR or ARR;

  • Maintain and track status of contract remediation process on a document tracker and report to Project stakeholders;

  • Liaise with internal and external stakeholders regarding issues related to the Project;

  • Escalate issues arising from contract reviews which require exceptional handling under contract remediation playbooks, transition manuals or other business requirements and maintain tracker of escalations;

  • Support the legal Project team in coordinating responses to senior management and regulators with respect to the status of contract remediation;

  • Support the legal Project team with oversight of external counsel relationships, including legal spend and costs of external counsel for the Project;

  • Execute other Project work and research related to these products and as directed by line attorney or as otherwise required.


  • Qualified in NY with a minimum of five years of experience in lending transactions.

  • Have experience working with a top law firm and/or significant experience working in-house within a bank or investment bank.

  • An ability to look at unfamiliar or new product areas and be able to analyze the relevant issues.

  • Ability to demonstrate a high degree of commercial awareness and to make sound judgment calls in a fast-moving business environment, together with an ability to identify and manage contractual risk.

  • An ability to recognize problematic issues and to plan and execute strategies for addressing.

  • Strong working knowledge and experience with LIBOR transition issues, including ARRC fallback recommendations for cash products, best practices, loan conventions and other LIBOR transition matters; LSTA (and LMA) template credit agreements for SOFR and other RFR based transactions; LIBOR transition legislative solutions; US regulatory guidance; BSBY; and [ISDA documentation and developments].

  • Have strong communication skills and relationship building qualities to maintain existing and build new relationships.

  • Strong drafting skills, decision making skills and the ability to demonstrate sound judgement.

  • A structured and logical approach to work.

  • Ability to thrive in a fast-paced, ever-changing, and hybrid/open-office environment.

  • Willingness to learn new areas of law to cover new businesses and initiatives.

  • Ability to prioritize efficiently and manage a complex time sensitive workload.

  • Excellent attention to detail and accuracy.

  • A calm approach, with the ability to perform well in a pressurized environment.

The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.

We are proud to be an Equal Opportunity/Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.

Some MUFG roles require that individuals be fully vaccinated against COVID-19, subject to exemptions for medical or religious reasons, as well as any other reason required by applicable law or order. Should you be selected for an interview, your recruiter will provide additional information.

At MUFG, our colleagues are our greatest assets. Our Culture Principles provide a roadmap for how each of our colleagues must think and act to become more client-obsessed, inclusive and innovative. They reflect who we are, who we want to be and what we expect from one another. We are excited to see you take the next step in exploring a career with us and encourage you to spend more time reviewing them!

Our Culture Principles

  • Client Centric

  • People Focused

  • Listen Up. Speak Up.

  • Innovate & Simplify

  • Own & Execute