Counsel - EMEA Markets Legal: Liquidity Legal

Job Description

Overview Of BNY Mellon:

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 35 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.

Team Description (overview of the team):

EMEA Markets Legal supports seven key areas – (i) Clearance & Collateral Management (“CCM”); (ii) Liquidity; (iii) Segregation: (iv) FX and Capital Markets; (v) Securities Financing; (vi) Treasury and (vii) Cross Markets.

EMEA Markets Legal is primarily based in London but works closely with colleagues in Legal in Brussels, the USA and APAC. In addition to product-specific advice, the team provides a broad range of legal advice and assistance to EMEA Markets and the EMEA Clearance & Collateral Management business.
 
As part of the overall Markets Legal Group, EMEA Liquidity Legal is responsible for:
• Providing legal advice and legal support to BNYM’s EMEA-based Liquidity team which provides short term investment solutions to institutional clients across various industries, helping clients manage their cash needs and invest their excess cash balances;
• Advising on law and regulation in the UK and obtaining advice on law and regulation from EMEA legal colleagues;
• Structuring of liquidity-related transactions, the preparation, maintenance and negotiation of all contract templates, including ensuring that templates remain compliant with local law and regulation;
• Negotiating contracts, including Account Control Agreements and related legal controls;
• Advising on legal aspects of developing new products and the implementation of strategic and regulatory change across Liquidity in EMEA;
• Advising on regulatory risk, legal risk and other legal aspects of Liquidity-related service provision and contractual arrangements; and
• Providing advice to business risk committees and other relevant committees involving EMEA Liquidity.

Job Purpose:

The role will be to act as legal counsel responsible for supporting EMEA Liquidity, and will report into the Head of EMEA Liquidity Legal. The role is primarily delivering effective Legal support in relation to revenue-generating activity, and the implementation of strategic and regulatory change affecting EMEA Liquidity (and any relevant BNYM legal entities).
The role will involve coordinating with other BNYM lawyers in the EMEA Legal department (and other jurisdictions where appropriate), and jurisdiction-specific lawyers, to deliver a high standard of legal advice that is tailored to BNYM’s business models. 

Responsibilities:

• Providing timely advice and assistance to Liquidity business, risk and compliance partners;
• Providing legal advice and assistance on new products and product development;
• Initial point of contact/support for designated product lines, including attendance at business acceptance committee and trustee committee meetings as applicable;
• Negotiation of documents, to ensure compliance with all policies and procedures promulgated by the Legal Department;
• Consideration of proposed amendments to existing deal documents/structures;
• Building relationships with all Business Managers to ensure understanding with the Bank's contractual obligations, identify areas of improvement of documents policies and standards, advise on the documentation for new services or markets and other strategic initiatives and join industry panels and work initiatives through trade associations;
• Regulatory issues, including maintaining an understanding of existing and proposed regulatory requirements, trends and best practices for EMEA, and where applicable US;
• Supporting the instruction and management of external counsel, both in the UK and overseas (including assistance with analysis and collation of advice from such counsel);
• Assistance with the development of formal training sessions for business colleagues on relevant topics, e.g. documentary standards/policies, market industry issues, and legal issues;
• Informal knowledge-sharing within the legal team; and
• Assisting the business in maintaining an appropriate profile with industry groups and others on key issues, including via participation in industry forums and other external discussions.
Although the EMEA Liquidity business will be the primary business area being supported, coverage also may be provided to a lesser extent to CCM, Segregation, FX and Capital Markets, Securities Financing, and Treasury Services.
 
Key relationships / stakeholders:

• Head of EMEA Liquidity Legal;
• Liquidity business line reps (both in EMEA and other regions);
• EMEA Legal (LoB and non-LoB);
• Global Markets Legal;
• Compliance;
• Risk Management; and
• CPMO.

Qualifications

Requirements:

The candidate should have circa 3-10 years PQE with a legal background in institutional/wholesale banking and specifically trading, derivatives and markets-related disciplines.
 
Expertise in the following is desirable:
• Liquidity, Custody or Prime Brokerage;
• Working knowledge of Markets regulatory frameworks;
• In-house legal and transactional banking operational experience at a global financial institution;
• Experience with trading and derivative products;
• Familiarity with clearing and settlement activities; and
• Experience of interactions with Markets legal and wider business/risk/compliance colleagues.
The candidate should also have:
• Excellent interpersonal and communication skills;
• Excellent drafting and negotiation skills;
• Strong organisation skills;
• Adept problem-solving skills and an ability to identify practical solutions;
• Flexible and adaptable working style to react to demanding workload and changing priorities;
• Self-motivation to drive delivery against objectives and an ability to work autonomously;
• Customer orientation and specifically a willingness to learn and to cultivate good working relationships with internal clients;
• Experience in balancing commercial flexibility and risk management; and
• A willingness to work as part of a team and help on a variety of matters.

What we can offer you:

• Challenging, fun and supportive environment
• 25 days holiday (in addition to Bank Holidays) plus opportunity to purchase up to 5 extra days
• Highly competitive benefits package including pension and private medical cover


BNY Mellon is an Equal Employment Opportunity Employer.

Primary Location: United Kingdom-Greater London-London
Job: Legal
Internal Jobcode: 85115
Organization: Legal Affairs-HR06241
Requisition Number: 1915245