BNY Mellon Careers
Alcentra - Legal Counsel
The successful candidate will join the EMEA investment management legal team in London which currently consists of 9 lawyers and 1 admin assistant. The EMEA investment management legal team is part of the broader BNY Mellon EMEA Legal team which in total comprises approximately 90 lawyers. The investment management legal team’s primary role is to provide legal advice and assistance and to act as a business partner to BNY Mellon Investment Management’s investment boutiques in EMEA, which include Alcentra, Newton, Walter Scott, and BNY Mellon Investment Management EMEA. These are separately run firms each with their own investment strategies and philosophy, all operating within the BNY Mellon group. There are also three fund management companies operating in each of the UK, Ireland and Luxembourg. These fund management companies operate and manage a number of funds. These are both UCITS (UK and Irish ranges) and regulated and unregulated alternative investment funds established in a variety of different jurisdictions, including, the UK, Ireland, Luxembourg, the Channel Islands and Cayman. The team also works closely with and provides assistance to colleagues based in continental Europe, the US, Asia and Brazil where relevant.
The opportunity has now arisen for a permanent hire primarily to support Alcentra in its London office. Currently one member of the team is dedicated to supporting Alcentra whilst other members of the team also provide support. Due to the expansion of the business, there is now a need to hire an additional lawyer whose primary focus will be Alcentra. Alcentra’s business has grown rapidly over the last few years. AUM currently stands at over $37bn, up from $23bn in 2014. AUM is forecast to continue to grow rapidly. Alcentra specialises in sub-investment grade debt and has two principal product offerings - CLOs and private funds spread across a range of different strategies. In recent years there has been an increasing focus on funds work. The role will principally involve the provision of legal advice and assistance to Alcentra’s fund ranges and CLOs, including: fund structuring and establishment; fund maintenance; negotiation of side letters; special projects; providing advice regarding regulatory, contractual and other legal matters as well as dealing with day to day ad hoc queries. The role will be varied and the successful candidate should feel comfortable working on a range of different issues at any one time and by happy to develop new areas of legal knowledge including CLOs and specialist regulation. The role will also include instructing and overseeing outside counsel.
- Ideally a 5 - 10 year English qualified lawyer with substantial experience of unregulated funds and ideally CLOs. Particular experience in the sub-investment grade debt market would be ideal. The successful candidate is most likely to have worked for a well established private practice firm and may already have worked in-house although this is not a requirement.
- Strong technical skills.
- Must have a sound knowledge of unregulated fund structures and their vehicles (general partners, limited partnerships, LLCs, holding company SPVs, etc.) in different jurisdictions, including, in particular Luxembourg and Cayman;
- Familiarity with regulations, particularly AIFMD, MiFID II and ERISA; ideally an understanding of the Volcker Rule;
- Familiarity with marketing restrictions for unregulated funds;
- Familiarity with tax issues that impact such funds;
- Ideally a good knowledge of CLOs;
- Good knowledge of the more general regulatory environment within which investment management firms operate.
- Ability to deal with a varied workload in a fast paced environment. Must be able to prioritise matters and be adaptable.
- Ability to build relationships with a variety of different internal clients.
- Pragmatic, someone who looks for solutions rather than obstacles. The legal team is seen as a business partner and the successful candidate will be someone who is comfortable relating to and dealing with business colleagues as the role will involve frequent interaction with business colleagues.
- A clear communicator, concise and able to deliver legal advice in layman’s terms.
- A team player. The legal team and Alcentra work in an open-plan environment and the ability to work harmoniously with and responsively to one’s colleagues and clients is an essential pre-requisite for the role.
- Enthusiastic, with a desire to develop one’s career in one of the world’s largest investment management businesses.
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 Employer.
Primary Location: United Kingdom-Greater London-London
Internal Jobcode: 85115
Organization: Legal Affairs-HR06241
Requisition Number: 1807701