Legal Officer Securities and Exchange Commission (SEC)

The Securities and Exchange Commission (SEC) is a body corporate established under the repealed Securities Act, Cap. 354 of the Laws of Zambia and whose existence is continued under the new Securities Act, No. 41 of 2016. SEC has the objective of inter alia regulating and developing the Zambian Capital Markets and is responsible for the supervision and development of the Capital Markets in Zambia as well as the licensing of financial intermediaries, collective investment schemes and securities exchanges, the registration of securities to be issued such as debt and equity instruments, and the authorization of transactions in entities registered with SEC.

SEC now seeks to recruit a qualified Zambian to fill one position;

1.0 Job Title: LEGAL OFFICER

Job Type: 12-month contract

Job Purpose: To provide support to the Directorate of Enforcement and Legal Services in matters relating to enforcement of the Securities Act, and the broader Law of the land to protect investors and the market, and management of the legal reform process, including introduction of new legislative measures in the Zambian Capital Markets. To assist in provision of professional legal advice and counsel to the SEC management and the Board and of efficient and effective legal services to the Commission.

Key Result Area and Principal Accountabilities (Main Duties)

1. Enforcement;

As part of the Directorate of Enforcement and Legal Services:
Investigates all cases of infringement of the Securities Law and recommends appropriate enforcement action
Conducts Legal Risk Assessments to identify risks and propose controls to limit risk and exposure to residual risks
2. Legal interpretation;

Under the direction of the Director-Enforcement and Legal Services, assists in interpreting key statutes such as the Securities Act, Regulations, and other pieces of key legislation, which have a bearing in carrying out the SEC Mandate to ensure regulatory and other activities are carried out with confidence by the Commission.
Obtains opinions or guidance from the Attorney General or other services on important issues of law, when so directed.
3. Legal Drafting;

Under the direction of the Director-Enforcement and Legal Services, drafts and peruses legal documents, regulatory instruments, contracts and agreements, pleadings, affidavits, deeds, leases, and applications of diverse to safeguard the Commission’s interests and ensure that they are efficiently and effectively executed.

4. Litigation;

Undertakes litigation on behalf of the Commission (under the direction of the Director-Enforcement and Legal Services), including those arising out of disputes between the Commission and Capital Market players as well as other entities and persons the Commission deals with.
Undertakes research on existing and potential litigation as referred as well as general legal research.
5. Legal Reforms;

Works with the Director-Enforcement and Legal Services to identify potential changes to the Securities Law and manages the legal reform process and the introduction of new legislative measures in the Zambian Capital Markets
Harmonize the process of the Zambian Capital Markets legislation with local, regional, and international legislation and ensures that the legislation is in line with the best international practice.
6. Reports;

Prepares monthly, quarterly, and departmental reports and submits them to the supervisor as scheduled.

Minimum Academic qualifications:

Grade 12 School Certificate
Minimum Vocational or Professional qualifications:

Bachelor of Laws Degree (LLB)
Advocate of the High Court of Zambia with at least 3 years post qualification experience
Member of LAZ with a valid Practising Certificate
Postgraduate Diploma in Legislative Drafting will be an added advantage
Membership with the Chartered Institute of Arbitrators will be an added advantage
Required competencies/Personal qualities:

Ability to identify potential changes in the law
Good organizational and supervisory skills
Ability to provide legal advice on securities and exchange matters and deal with issues arising in the Commission initiatives and activities
Knowledge of procedures and practices used in the conduct of civil litigation, judicial procedures, and rules of evidence
Good soliciting and arbitration experience
Competence in legislative drafting
Strong interpersonal and negotiating skills
High level of integrity and confidentiality
Good Communication skills- both written and ora
Basic computer skills (Word processing, spreadsheets, and internet
High level of analytical ability
Extensive knowledge and understanding of the Securities Law will be an added advantage