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Senior Transaction Manager
Team Description: (Overview of the team)
The Senior Transaction Manager through broad knowledge and experience is responsible for reviewing highly complex specialized deals transactions/structures aligned to a business or multiple product segments from initiation through closing. Key liaison with outside counsel and in conjunction with Client & Business
Development may drive and take lead in negotiation of the terms of the structure. Serves as primary contact with internal and external parties on new and existing transactions and deal documentation in order to ensure the life of issue meets all operational and documentation standards and mitigates any risk. May mentor junior/new team members. Provides back up supervisory support in absence of Team Leader.
Acts as the Subject Matter "Go To" Expert/country specialistfor product/country ensuring the business is kept up to date with market and competitor data and new regulations and laws for specific products or country regulations.
Essential Functions – Key Roles &Responsibilities
• Deal Acceptance:
Lends in-depth knowledge and collaborates with appointed outside counsel from BNY Mellon's approved list to provide consultation on multiple types of highly sophisticated transactions. Reviews, negotiates and executes all governing documents for new transactions ensuring deal documentation accurately reflects operational responsibilities, structure terms and documentation standards including pricing input.
Keeps internal Legal department abreast of any unusual or novel features in deal documents in order to mitigate any potential litigation issues.
Interfaces with Client & Business Development and/or Global ClientSolutions to ensure that all Know Your Customer, account setup and tax related requirements are completed prior to closing.
Coordinates with Client & Business Development the presentation ofnew transactions at BAC forum(s), ensuring the deal has been properly approved by BNY Mellon prior to execution of the governing documents.
Prepares and presents deals to the local Trust Committee for new business and where applicable for amendments and exercises of discretion and prepares any required submissions to the Jurisdictional Acceptance Committee.
• Deal Closing
Liaises with internal working group parties to coordinate closing timeframes
Develops instructions for support utilities to open the necessary accounts on relevant applications, including cash, custody, trust accounting (US only) and bondholder recordkeeping systems
Controls and coordinates the bond/program issuance and closing with the relevant support utilities, Depository, Client Service Delivery, respective counsels and other parties, including the performance of initial flow of funds; Announces closing to internal working group party distribution
Co-ordinates invoice payment at closing, including related counsel fees with appropriate parties
Receives at closing the global notes and any credit facilities, UCCs, bond insurance policies and other collateral, and facilitates forwarding such by secure means to Client & Business Development and/or Global ClientSolutions for safekeeping
• Deal Set Up
Procures the safe keeping and scanning of all investor documents and contractual documents entered into by BNY Mellon entities, including the complete closing transcript where applicable
Expeditiously completes the appropriate checklist for effective transfer of the deal to Client & Business Development, Global Client Solutions and/or Client Service Delivery, (as applicable). Reviews approvals of the Deal Synopsis (limited to confirmation of adherence to BNY Mellon documentation standards policy) and complete the pertinent elements of the Deal Closing Checklist
Identifies actions/events dictated by the governing deal documents; ensures initial government contract policy compliance; performs initial REG 9 review if applicable; prepares and files Transfer Agency forms for success ordeals
• Life of Issue
Responsible for the review of substantive post-closing matters (including supplements, amendments, document interpretation, contracts for redemptions, consent solicitations, note holder meetings), during life of issue with support of internal and/or external counsel, subject to business and trust acceptance policies and bondholder consent (where required)
Examines documents and assists to resolves any issues that arise during the life of the deal.
Liaises with the Default Administration Group (DAG) related to defaulted transactions and escalates to DAG regarding all defaults or potential default issues as per BNY Mellon policy.
• General Transaction Management
Maintains an understanding of BNY Mellon policies concerning the exercises of discretion in a fiduciary role as it relates to various jurisdictions. Serves as a resource for Global TMG.
Develop strong working relationships with client and all appropriate external and internal partners such as law firms, financial advisors, and investment bankers, Client & Business Development, Global Client Solutions,Client Service Delivery, Compliance, Audit, Risk and internal Legal, Business Acceptance and Jurisdictional Acceptance Committees.
Supports Client & Business Development and Global Client Solutionsas appropriate or the timely collection of any legal bills related to TMG appointments of counsel. Provides feedback on external counsel performance to internal legal group.
• May mentor new or junior team members and provides back up supervisory support in absence of Team Leader.
Oversees TMG functional protocol and interaction with DAG to ensure negotiation of any workouts, restructures or enforcements pursuant to the deal documentation in accordance with BNY Mellon standards and contracted operational responsibilities, ensuring effective legal and operational risk mitigation in all defaulted deal transaction documentation matters.
• Qualified in either Italian or English law is preferable
• Business Expertise
• Experience of private legal practice, Corporate Trust and/or banking environment. Knowledge and experience in debt market document negotiation.
• Skill to successfully negotiate with internal and external parties to mitigate risk.
• Ability to work under tight and demanding deadlines.
• Problem Solving
• Find and propose:
a) Innovative legal solutions that are often complex to ensure that BNYMellon’s documentation standards are upheld.
b) Satisfactory solutions to business issues with internal and external parties.
• Nature & Area of Impact
• Interact with clients, their advisors and agents, and other working group party members to come to mutually agreeable terms with respect to deal documents that affect the business.
• Strive for excellent client service delivery under tight timeframes.
• Interaction / InterpersonalSkills
- Excellent oral and written communication skills necessary to persuade, negotiate and influence others, often at higher levels.
- Effectively influence client, external counsel and other working group party members.
- Manage internal and external relationship difficulties in a time sensitive, pressured environment.
- Optimize client service delivery while complying with the Company’s policies and preferred practices.
For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments & safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers.
BNY Mellon Corporate Trust provides the infrastructure, technology and processing services needed to navigate the debt capital markets. We partner with financial institutions, corporations, insurers, governments and not-for-profit organizations at all stages of the deal lifecycle - from issuance to maturity. With global reach and a comprehensive suite of scalable administrative, operational and infrastructure capabilities, we help clients drive business growth and maximize impact. We create customized solutions for our clients' debt-related needs, drawing on our range of core services, including trustee, paying agency, escrow and other fiduciary offerings
BNY Mellon is an Equal Employment Opportunity Employer.
Primary Location: United Kingdom-Greater London-London
Job: Corporate Trust
Internal Jobcode: 70354
Organization: Corporate Trust-HR06320
Requisition Number: 1804182