BNY Mellon Careers
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Counsel- Securities Finance
New York, New York
Attorney dedicated to supporting the Securities Finance business, which is part of BNY Mellon’s Markets business. Securities Finance Legal provides legal advice and support to the various Securities Finance desks with respect to a variety of products, including cleared repo, agency and principal securities lending, margin loans, bilateral and tri-party repo, and legal guidance in the development of new products. The attorney will support primarily the cleared repo desk, and work with the business team to expand the business to a broad range of clients globally. Key responsibilities include:
- Provide legal and regulatory support and advice to the Securities Finance business, and primarily to the cleared repo desk;
- Advise on various CCP clearing rules and membership matters, and engage with CCPs with respect to new rules and arrangements impacting the business;
- Negotiate BNY Mellon’s standard form clearing client agreements, repo agreements, custody agreements, non-disclosure agreements, etc;
- Identify and explain relevant legal issues and risks to the Securities Finance business;
- Work closely with Compliance, Credit and Risk partners and other internal lawyers in providing guidance on issues related to legal and contractual matters, operational risks and regulatory matters;
- Draft tailored legal documentation and standard form agreements for the Securities Finance business;
- Review and approve legal opinions (e.g. jurisdictional, enforceability, insolvency-related, netting opinions, etc), marketing and communication materials;
- Manage outside counsel engaged to assist the business;
- Monitor and advise on relevant legal and regulatory developments;
- Participate in industry advocacy as part of relevant industry groups, such as SIFMA and ISDA.
The following experience/skills are essential:
- At least seven years securities finance, clearing and/or derivatives law experience;
- Knowledge of the current regulatory issues impacting the securities finance industry, including understanding of Basel III rules, ISDA Resolution Stay Protocol, etc;
- Familiarity with industry documentation, such as MRAs, MSLAs, ISDAs required;
- Excellent communication, contract negotiation and writing skills;
- Familiarity with international financial markets, CCPs, custody and settlement matters;
- Ability to work well as part of a team, and in-house experience would be beneficial;
- ability to handle a large number of matters and to prioritize in a fast-paced environment.
QualificationsAdvanced Legal Degree or local country equivalent degree usually required. Progression to this level usually requires licensure/certification by the local country or jurisdiction. In some jurisdictions, may not require licensure or certification for placement in the role; in others, licensure/certification is required. 3-7 years minimum of total work experience as a qualified attorney is preferred. Prior corporate legal experience within the financial services industry or experience in assigned practice area (e.g., securities, employment, etc.) with an outside law firm is preferred.
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.
As part one of the safest and most trusted financial institutions, the BNY Mellon Legal department mitigates risk and handles legal affairs to ensure the security of the company and its clients. BNY Mellon's Legal Department, has overall responsibility for government affairs and advises on advocacy and policy initiatives of the company to support BNY Mellon's domestic and international operations, and they also support all bank regulatory and supervisory issues.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer.
Minorities/Females/Individuals With Disabilities/Protected Veterans.
Primary Location: United States-New York-New York
Internal Jobcode: 85115
Organization: Legal Affairs-HR06241
Requisition Number: 1807099