Transaction Manager, Issuer Services, Corporate Trust
The 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.
Acts as the Subject Matter "Go To" Expert/country specialist for 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
- 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 Client Solutions 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 approval forum(s), ensuring the deal has been properly approved by relevant internal stakeholders 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
- 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 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 Client Solutions for safekeeping.
Deal Set Up
- Procures the safe keeping and scanning of all investor documents and contractual documents entered into including the complete closing transcript where applicable
- Expeditiously completes the appropriate post-close tasks in line with policy and procedure for effective transfer of the deal to Client & Business Development, Global Client Solutions and/or Client Service Delivery, (as applicable).
- 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 successor deals .
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 Group policy.
General Transaction Management
- Maintains an understanding of internal 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 and relevant acceptance/deal review committees and forums
- Supports Client & Business Development and Global Client Solutions as 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.
- 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
- Qualification in civil or common law jurisdiction is desired (but not essential)
- Business Expertise
- Experience of Corporate Trust and/or banking environment
Knowledge and experience in debt capital markets and document negotiation.
- Skill to successfully negotiate with internal and external parties to mitigate risk.
- Ability to work under tight and demanding deadlines.
Able to analyse, find and propose:
a) Innovative legal solutions that are often complex to ensure that enterprise 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 and working on multiple transactions simultaneously - strong prioritisation skills required.
Interaction / Interpersonal Skills
- Excellent team player
- Ability to work well independently
- 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.
- Ability to effectively manage internal and external relationship difficulties in a time sensitive, pressured environment.
- Ability to optimize client service delivery while complying with the Company's policies and preferred practices.