BNY Mellon Careers
Senior Managing Counsel – Head of Legal Frankfurt (m/w/d)
The legal team based in Frankfurt provides legal advice to 4 legal entities in Germany with a focus on the Frankfurt branch of the Bank of New York Mellon SA/NV.
The Bank of New York Mellon SA/NV is the Brussels based European bank of BNY Mellon. With branches in Frankfurt, Amsterdam, Dublin, London, Luxembourg, Milan and Paris the European bank has a presence across key countries in continental Europe. While the core business is currently Asset Servicing, it is intended that there will be a build out of certain Markets business activities in Frankfurt in response to, intra-alia, Brexit.
The other legal entities are the BNY Mellon Service Kapitalanlage-Gesellschaft mbH (KVG), the Bank of New York Mellon Frankfurt Branch, BNY Mellon Investment Management EMEA Ltd and Insight Investments.
The primary activities of the German businesses are custody, trustee and depositary services, fund administration including administration for real estate funds, collateral management, FX and Treasury services and investment management (distribution).
The Frankfurt legal team provides legal support and advice on a variety of matters from a German law perspective. Such matters include the negotiation of client agreements, the implementation of (European legislation) on service models and existing agreements, product development, facility management related purchase agreements, adhering to local corporate law and corporate governance, corporate secretary related work and any contentious matters.
Due to the underlying businesses, the Frankfurt legal team works closely with both the Asset Servicing legal team and the Markets legal team.
• The EMEA Asset Servicing legal team provides legal services to the EMEA Asset Servicing (“AS”), Broker Dealer Services (“BDS”) and Alternative Investment Services (“AIS”) lines of business. The main team is based in London but works closely with colleagues across EMEA. The London based team also includes coverage of Treasury Services as well as Banking and Payments more generally.
• The EMEA Markets legal team provides legal services to the EMEA Markets line of business. The Markets Legal team in EMEA support four key areas – (i) Collateral Management and Segregation; (ii) FX and Capital Markets; and (iii) Securities Financing; and (iv)Treasury. The main team is based in London.
Currently the Frankfurt based legal team includes 6 attorneys and an assistant.
Job Purpose: (What the job role involves)
The Head of Legal Frankfurt is a highly experienced attorney who is responsible for the effective management of legal and regulatory risk in the legal entities (and associate businesses and business operations) that are located in Germany.
Although the role is primarily responsible for ensuring effective business partner support by Legal in relation to revenue generating activity, and the implementation of strategic and regulatory change in those legal entities/business lines, it also has indirect responsibility for monitoring the effective response by non-line of business legal practice areas (such as Employment, IP/IT & Social Media, M&A, Litigation, Enforcement & Investigations) and escalating to their direct reporting lines when required to ensure an effective response. The Head of Legal Germany is also the strategic counsellor to the governance bodies of our German entities. The role directly reports to the European Bank General Counsel.
The role requires significant coordination with members of the global team, together with other lawyers in the EMEA and global Legal department, and jurisdictional specific lawyers, to deliver a high standard of advice that is tailored to BNY Mellon’s business models.
Responsibilities: (Key parts to the job role)
The Head of Legal Frankfurt position involves, but is not limited to, the following:
• Influencing the legal risk appetite in the legal entities in Germany.
• Understanding and effectively managing legal risk in the legal entities (and associated businesses and business operations) that are located in Germany, including management of robust processes and controls within the legal team in Frankfurt to manage legal risks, and escalating appropriately where wider controls require augmenting/remediating.
• Acting as a trusted advisor to local Management on strategic, regulatory and (potential) contentious legal issues. Supporting company responses to supervisory or enforcement actions and advising on remediation programmes.
• Advise/support business in developing new services and products in line with applicable law & regulation;
• Support strategic business initiatives in providing effective and timely legal advice and in drafting any legal documentation;
• Advise local management on corporate law and corporate governance;
• Preparation and/or review of key communications to regulators.
• Leading and managing local legal support for regulatory change and implementation projects.
• Represent Legal and actively participate in governance bodies, business steering committees, working groups and client events/meetings;
• Participating in relevant industry bodies and informal peer networking forums.
• Frequent and timely reporting/escalation to the European Bank General Counsel, local management and other relevant stakeholders to ensure abreast of all matters of moderate to high, or else increasing, legal and regulatory risk.
• Performance of HR processes such as talent development and succession planning for the local legal team in Germany as required.
• Oversight of outside counsel advice (including timeliness and quality) on major deliverables.
• Oversight of local team’s compliance with Outside Counsel Policy.
• Oversight of legal counsel fiscal budgeting processes and subsequent monitoring of spend versus fiscal budgets in Germany.
• Responsibility for satisfactory completion of core operational processes required by Enterprise wide policy and procedures in Legal department in Germany including but not limited to:
· Business Continuity Planning; and
· Records Management.
• Assist management and Compliance in developing plans to comply with new law and regulation;
• European Bank General Counsel
• EMEA General Counsel
• Local management in Frankfurt
• Head of Legal EMEA Asset Servicing
• Head of Legal EMEA Markets
• Other local country heads of Legal (including Brussels, Luxembourg, Amsterdam and Ireland)
• Wider EMEA Legal (LoB and non-LoB)
• Finance, Compliance, Risk, CPMO;
QualificationsThe successful candidate will have at least 15 years PQE with a legal background in institutional/wholesale banking , including experience of FX and securities sales and trading issue . They will also have, amongst other technical skills and experience:
• Batchelor degree (or equivalent);
• Qualified German lawyer;
• Broad range of substantive legal skills developed over an extended period of time;
• Experience with top tier law firms with a presence in Germany;
• In house legal and transactional banking operational experience at a [global] financial institution;
• Strong working knowledge of banking regulatory frameworks;
• Strong regulatory background and proven experience of delivery of regulatory/strategic change;
• Experience of delivery legal support to remediation programmes;
• Experience with custody, clearing, trustee and depositary services, fund administration, settlement, FX, derivatives and sales and trading activities;
• Extensive experience managing outside counsel on major deliverables;
• Extensive experience of interactions with regulators;
• Extensive experience of frequent interactions with legal and wider business/risk/compliance colleagues;
• Fluent (written & oral) in English and German; and
• Familiarity with current legal, regulatory and market trends and initiatives impacting Germany.
Other technical skills that although not necessary would be preferential:
• Wider European language skills such as French.
The candidate should also have:
• Excellent interpersonal, communication and writing skills;
• Excellent drafting skills;
• Excellent influencing/ negotiation skills;
• Strong organisation skills;
• Adept problem solving skills – ability to identify practical solutions;
• Confident in communicating broadly and deeply;
• Extensive experience of direct team management;
• Connector of people
• Passion about people development and talent management
• Proven leadership qualities
• Demonstrable ability to quickly analyse problems and to devise and deliver appropriate solutions
• Credible and strong management experience, at all levels, with the ability to prioritise management
expectations, obtain stakeholder buy-in and escalate appropriately
• Experience in balancing commercial flexibility and risk management;
• Flexible and adaptable working style to react to changing priorities;
• Self-motivation to drive delivery again objective; and
• A sensitivity to intercultural contacts and communication;
BNY Mellon is an Equal Employment Opportunity Employer.
Primary Location: Germany-Hessen-Frankfurt
Internal Jobcode: 85117
Organization: Legal Affairs-HR06241
Requisition Number: 1815800