Ropes, Competency Flashcards by Ismail Wahba

Why should we Choose You?

I strongly fit the Firm’s candidate profile:

I am academically decorated and powerfully dirven by a career in law.
- First Class in my LLB and a Distinction in my LLM.
I am business-minded.
- Legal Analyst at Sultan.
I am intellectually curious and entreprenurially spirited.
- My Master’s Thesis.
I am highly collaborative.
- My Master’s Study Group.

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What are your Strengths?

Technical Strengths:

Linguistic Problem solving.
Research and analysis.
Argumentation.
Fast learning.

Personal Strengths:

Extreme drive (self-identification with performance).
Iron work ethic (boxing and weightlifting).
Collaborativeness.

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What are your Weaknesses?

Neurotic.
Obsessive.

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Tell me about a Recent Business Story you found Intersting.

The Private Credit (PC) ‘Bubble’:

Premise: The PC Sector is dangerous because:
- It has no capital adequacy requirements.
- It is opaque and thus difficult to regulate.
- It is a systemic threat due to its level of concentration and contagion.
- It is subject to increasingly fierce competition with the traditional banking sector.
- It is highly sensitive to recessionary conditions.
Pertinence: The PC Sector is important because:
- It is over $1.5T and growing at 13.17% CAGR (Morgan Stanley Report).
- It is preferred by Sponsors due to its customisability, dependability, and stability (Dechert Survey).
- It is preferred by Investors for its higher fixed-rate yields.

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Tell me about a Recent Legal Story you found Intersting.

Social Media Litigations:

NetChoice v. Paxton (Texas) | Moody v. NetChoice (Florida):
- Premise: Challenge bills prohibiting platforms from: (a) removing, moderating, or labeling user posts based on their viewpoints; and (b) allowing minors onto their platforms on pain of damages.
- Core Issue: Do these bills violate the First Amendment?

AI Litigations:

NYT v. OAI:
- Premise: Accusation that OAI unlawfully copyied and used millions of NYT copyrighted pieces to develop their for-profit GenAI models and tools.
- Core Issue: Did OAI infringe on NYT’s copyright, and who should reap the fruits of AI?

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What are the General Responsibilities of a Trainee?

Main Purpose:

Ensure the transaction runs smoothly.

General Responsibilities:

Due diligence.
Drafting (first drafts, low-level agreements, minutes, regulatory submissions).
Third-party outreach (clients, regulators, counterparties, local counsel).
Research and analysis (caselaw analysis, legislative & regulatory developments, market research).
Administrative (CP Checklists, proofreading, trial bundles, deal bibles, structure charts, filing submissions)

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What have we Done Recently that caught your Interest?

From Regina and Ed’s episode on R&G Tech Studio:

Client: Financial Services player wanting to set up a data marketplace.
Legal Issue: Do enough to vet the data being transacted without being seen as assuming responsibility for it.
Solution: Establish vendor qualification processes, a TOS, standard buyer-seller terms, data policies, and compliance structures for vendors.
Result: Resoudning success for the client.

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What are our Strengths?

Specialist Approach: Unparalleld expertise in Private Credit, Technology, and Life Science & Healthcare.
Scope of Work: Transactional and contentious strengths firmwide, in the appropriate regions.
Reach: Presence in all major global financial centres.
Meaningful Innovation:
- R&G Insight Lab: Value-add for clients with steep compliance needs in heavily regulated industries.
- E-Discovery and AI Strategy Group: Value-add for all clients with heavy documentary needs.

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What are our Weaknesses?

Weaknesses:

You live and die by your sectors.
Revenue in 2020-2021 rose by over 20% and you won Firm of the Year, but slowed to roughly 3% in 2022-2023.

Challenges:

Regularly shifting regulatory environments in the Firm’s sectors, requiring constant vigilance to ensure clients remain compliant.
The Technology sector is experiencing major disruption with AI, and staying ahead of the legal and commercial issues is critical to staying competitive.
Geopolitical tensions in Asia are rising, jeopardising growth and investment in the area.

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What do you think a Client seeks in a Law Firm?

A legal and strategic advisor that can:

Identify its present, future, and hidden problems; and
Provide clear, complete, and practicable solutions thereto;
Efficiently, conveniently, and inexpensively.

Firms are therefore judged on their:

Understanding of the client, its strategy, and its sector;
Competitiveness relative to other firms; and
Ease and enjoyment to work with.

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How do Law Firms Win Clients?

Pitching:

Firm is invited to tender. Will pitch if the deal is lucrative, winnable, or strategic.
Remaining candidates will be culled based on paper bid, interview, or mock task.
Key criterion is identifying client’s key drivers and finding optimal solutions to their unique problems.

Pricing:

Clients want maximum value for money, and thus prefer transparency and predictability.
Relevant considerations include: total cost, market rates, subjective value to client, firm expertise, efficiency, and client service.

Project Management:

Clients want to understand how you will complete the project.
This includes information on timelines, resource allocation, prioritisation, and monitoring channels.
Clear and well-tested plans win the day.

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Explain a Difficult Concept you learned during your LLM.

Defining Securitisation:

Financing by way of dissociating an underlying portfolio of assets from the Originator (Borrower) to use to issue debt.

Securitisation’s Objectives:

Raise finance cheaply.
Increase asset liquidity.
Alleviate capital carrying costs.

Transaction Structure:

The Originator creates an SPV.
The Originator sells the assets to the SPV for cash.
The SPV issues bonds backed by the assets and uses the proceeds to compensate the Originator.

Legal Issues:

Complex documentation (Offering Circular, Sale Agreement, the Service Agreement, and Bond Trust Deed).
Liquidity Support (Revolving Credit Facility, Reserve Account, Asset Sale Options).
Credit Enhancement (Overcollateralisation, Subordination, Reserve Accounts, Interest Rate and Currency Swaps, Letter of Credit).

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What are the Biggest Issues facing Law Firms today and tomorrow?

Competition from Firms and ALSPs:

Issue: Increasing competition in the legal market is depressing prices and empowering buyers.
Solution: Compete on differentiation, not cost. Find profitable niches to monopolise.

Effectively Leveraging Technology:

Issue: Increasing client expectations all but mandate effective exploitation of technology to remain competitive.
Solution: Invest in solutions that complement your value proposition and improves the client experience.

Cybersecurity:

Issue: An increasing dependence on technology and third-party providers creates new points of failure.
Solution: Invest more heavily in cybersecurity systems and training, and pick third-party service providers carefully.

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In a Client Meeting, your Supervisor provides incorrect advice. What do you do?

Assess the Situation: Quickly determine whether the mistake is significant.
If Minor: Wait until after the meeting to address the mistake, so as to avoid unnecessary disruption.
If Major: Find a discreet and respectful way to provide the correct information without contradicting your supervisor before the client, e.g. “Additionally, according to a recent update…”.
Post-Meeting Correction: Explain your concerns factually and respectfully, and suggest a plan for correcting the mistake with the client, e.g. a follow-up email.
Learn from the Experience: Ask your supervisor how such situations should be handled in the future.

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Your Supervisor is out to Lunch and one of their Clients call demanding Instant Advice. What do you do?

Stay Calm and Professional: Acknowledge the client’s urgency and concerns.
Explain the Situation: Politely inform the client that your supervisor, who is most familiar with their case, is currently unavailable.
Gather Information: Ask for all relevant details concerning their query.
Offer Interim Assistance: If within your capacity, offer your assistance for any relevant tasks.
Set Realistic Expectations: Inform the client as to when your supervisor will return. Where applicable, offer to schedule a callback.
Follow Up Internally: Inform your supervisor of the incident ASAP, with notes.
Learn from the Experience: Ask your supervisor how such situations should be handled in the future.

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Three Partners reach out with Work they want done by 17:00. What do you do?

Is timely completion of all three possible?

If yes, then accept all three.
If no, then accept the most urgent ones and suggest a colleague with capacity.

Now with tasks in hand:

Prioritise according to urgency and importance.
Refer to colleagues for advice where applicable.

A Client asks you to do something Legal but Morally Questionable. What do you do?

Request time to evaluate.
Analyse the consequences.
Consult professional and ethical standards.
Seek advice from a senior colleague.
Raise any concerns with the client and offer alternatives.
Document the decision.

If you were Managing Partner, where would you Open our next Office, and which would you Close in its stead?

Which to Close:

The US: Indispensible. The most important market for Ropes.
Europe: Indispensible. Presence is already minimal and the market is very important.
Asia: Hong Kong. Tokyo, Seoul, and Singapore are indispensible. Ropes already has Shanghai and Hong Kong is a geopolitical hotzone.

Which to Open:

Germany.
- Major financial market.
- Mature legal market.
- Politically and economically stable.
- Consolidate strength in Europe.
- Strong in all of the firm’s key sectors, especially healthcare and life sciences (biggest pharmaceutical exporter worldwide).

What are the Real Differences between US and UK Firms?

Training:

US: Preference toward hands-on training, less oversight, and greater early responsibility.
UK: Preference toward structured training, more oversight, and less early responsibility.

Degree of Specialisation:

US: Strong preference toward specialising in select practices and sectors, usually highly transactional.
UK: Preference toward a broad practice scope and sector-agnosticism.

Compensation and Career Development:

US: Greater compensation and accelerated career development, reflecting greater early responsibility.
UK: Lesser compensation and relatively slower career development, reflecting lesser early responsibility.

International Exposure:

US: Strong ties with the American, European, and Asian markets .
UK: Strong ties with European and Asian markets.

How would you deal with the Challenges of Trainee Work?

Client Outreach:

Example: Updates, briefings, newsletters, meetings.
Challenge: Be commercial and prompt.
Strategy: Write clearly, concisely, and with purpose. Have your ringer on at all times.

Research and Drafting:

Example: Redlining, legislative and regulatory developments, basic agreements.
Challenge: Finding the right data and strategically putting it to paper.
Strategy: Be comprehensive and precise by structuring the exercise around your objective.

Administrative:

Example: CP Checklists, compiling court bundles, compiling deal bibles.
Challenge: Maintain accuracy and precision over extended periods.
Strategy: The 50-10 / 4-20 / 8-30 System.

What are your Values, and when have you had to Divert from Them?

Never experienced such a case, so let’s suppose:

Vladimir Putin becomes a client and you must personally advise him. What do you do?
I would do the job.
- I am a consummate professional, and as such, I put the job above myself.
- It is not your job as an associate to dethrone dictators; that is your job as a private citizen.

How have Clients and their Expectations changed?

Greater Transparency:

Issue: Clients increasingly expect clarity in pricing and updates on progress.
Solution: Upfront, clear, detailed, and bespoke billing arrangements; user-friendly client portals.

Greater Value through Innovation:

Issue: Clients increasingly expect efficiency gains, strategic insights, and proactive risk management through technology.
Solution: Investment in technology that complements the firm’s value proposition.

Greater Specialisation:

Issue: Clients increasingly expect deep expertise from firms, reflecting the increasing levels of specialisation across modern business.
Solution: Promote continuous learnng, encourage internal specialisation, hire from industry leaders.

Greater Cross-Border Reach:

Issue: Clients increasingly expect cross-border expertise, reflecting the increasing global nature of modern business.
Solution: Consolidate strength in regions key to clients, partner with elite local firms.

Greater Value Alignment:

Issue: Clients increasingly expect their advisors to reflect their values, i.e. ESG, CSR, and DE&I.
Solution: Integrate these values at all levels, prioritise pro bono, participate in relevant initiatives.

How have you Overcome a Particularly Difficult Challenge in the Past?

The Boxing Drive at Kent:

I was a Boxer in First Year. We had an annual charity drive in late March.
Because of a peer’s injury in late January, Coach asked me to fight twice. I accepted without thinking.
Adjusted my training and diet to prepare me for the double fight.
Endured hell for seven weeks. Got in spectacular shape. Won both fights. One of my happiest moments.

Why were you Unsuccessful in Converting your Willkie Scheme?

After my Willkie scheme:

I was told I needed to be more concise and commercial in my work, especially written communciation.
I internalised the feedback and applied it to my role at Sultan.
As to my results, I will let my manager speak for me.

What Skills does a Trainee need to Excel?

**Business-Mindedness:** * **Definition:** The ability to understand the problems and solutions your firm and its clients wrestle with, and the environment within which they operate. * **Example:** Comparing previous transactions to identify the most favorable terms for a client; analysing regulatory changes to advise on strategic patent filing. **Attention to Detail:** * **Definition:** The ability to be precise and accurate. * **Example:** Redlining transaction documents; scrutinising clinical trial data submissions to ensure accuracy before submissions. **Teamwork:** * **Definition:** The ability to work effectively as part of unit pursuing a shared objective. * **Example:** Coordinating with parties to ensure specific CPs are met; organising a knowledge-sharing session on recent legal developments. **Communication:** * **Definition:** The ability to relay information clearly and concisely to a given audience. * **Example:** Preparing a client brief on regulatory developments; updating a client on a transaction's status. **Research & Analysis:** * **Definition:** The ability to distill relevant insights from masses of data. * **Example:** Analysing caselaw to understand the implications of specific wording; analysing the patent database to predict challenges to a client's drug. **Organisation:** * **Definition:** The ability to manage time, prioritise tasks, and reduce clutter. * **Example:** Completing a CP Checklist; arranging or annotating a data room.

Tell us about a Time you received Feedback.

After my **Willkie scheme:** * I was told I needed to be more **concise** and **commercial** in my **work**, especially **written communciation**. * I **internalised** the **feedback** and **applied** it to my **role** at Sultan. * As to my **results**, I will let my **manager speak for me**.

Tell us about a Time you worked in a Team.

At the start of my **LLM**: * I initiated a **study group** with four peers. We performed **communal study & revision** and **peer review** of theses. * With **study**, we **divided further** and **additional readings** according to **affinity** and **interest**. At my suggestion, we **preempted** any unproductive **disputes** over division by **guaranteeing** the **yielding party priority** the following week. * With **revision**, we made **revision materials**, like flashcards, mind-maps, or annotated bibliographies, based on our **learning styles** and shared them freely. We also **evaluated** our individual **answers** to **past papers**, seeking to **identify weaknesses** and **refine** our exam **technique**. * With **theses**, we helped each other by **brainstorming** and **dissecting ideas**, suggesting **research lines**, and **critiquing drafts**. * **Everyone scored above 67** and **three** of us, myself included, **earned Distinctions**.

How do you Maintain a Work-Life Balance?

* **Establish boundaries** to **create space** for myself (hobbies, relationships, travel). * **Stay synced** with **colleagues** on deals to make **leaving** and **returning easier** for everyone. * **Cover for your colleagues**, so that they will cover for you when you need it. * **Increase productivity** in the workplace.

Tell me about a Time you dealt with a Complex Task.

**The RHE DD:** * **Premise:** * Analysing the legal and commercial aspects of a hardtech hydroelectric startup. * **Challenges:** * Evaluating its legal exposures, particularly regulatory compliance and intellectual property defensibility. * Evaluating its commercial viability and technical feasability. * **Strategy:** * Prioritise intelligently and divide tasks between myself and Hassan. * Establish open lines of communication with RHE's compliance and engineering teams. * Consult with an engineer over the technology's technical feas.

How do you handle Difficult People?

* Stay **calm**. * Actively **listen**. * Focus on **solutions**.

How do you handle Multiple Tasks with Tight Deadlines.

* Use a **five-star system** to rank **urgency** and **importance**. * **Prioritise** according to **urgency**, then importance. * **Delegate** or ask for **aid** if **necessary**.

When have you shown Initiative?

While working at **Sultan:** * I noted that **technical cofounders** were relatively **weaker understanding** of business and strategy. * I was **privately studying** this subject at the time. So, I **converted** my **notes** into **simple**, **concise digital flashcards** for technical cofounders. * I proposed the idea to my manager, who approved, and we **distributed** the flashcards and **received excellent feedback**.

When have you shown Leadership?

While working at **Sultan:** * I **oversaw** another **legal analyst** and an **intern**. * I **managed due diligence**, **delegated** responsibilities, and designed a **professional development** programme. * As to my **results**, I will let my **manager speak for me**.

When have you shown Innovativeness?

**Master's Thesis:** * I explored a **novel area** in the literature — how we could use **blockchain** and **smart contracts** to make **loan contracts** more **robust** and **efficient**. **Prime Example:** * Explain the **function** of the **ASNP**. * Explain the **limitations** in its **enforcement**. * Explain how a **smart contract** could **overcome** its **limitations**. **My Virtues:** * **Research** in this area was **nascent** and required **considerable technical knowledge** I lacked. * To succeed, I needed to **rapidly acquire** such knowledge, and with **no precedent**, **apply** it to the **law** in **creative** and **practical** ways to **solve complex problems**, all while **staying abreast** of my **studies**. * That I was awarded a Distinction in my thesis and degree shows my **innovativeness**, **commerciality**, **drive**, and **collaborativeness**.

When have you shown Persuasiveness?

* Kent's Law Society held a **Negotiation Competition** in 2021. * Competitors had to **negotiate** the **best terms** for their **client**. * I **finished 2nd** of 36, and only by a **margin of 1%** to the champion.

When have you Convinced your Superior of your Position?

* New **commitments** would have forced my **manager** to **postpone** an **equity negotiation**. * Used my **deal knowledge** and **client relationship** to **persuade** her to let me handle it in her stead. * **Secured favourable terms** for our Fund.