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Counsel EMEA Markets Legal: Clearance & Collateral Management

BNY Mellon Manchester, United Kingdom
Posted 5 days ago Permanent Competitive
Overview
At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world's financial system we touch nearly 20% of the world's investible assets. Every day around the globe, our 50,000+ employees bring the power of their perspective to the table to create solutions with our clients that benefit businesses, communities and people everywhere.
We continue to be a leader in the industry, awarded as a top home for innovators and for creating an inclusive workplace. Through our unique ideas and talents, together we help make money work for the world. This is what #LifeAtBNY is all about.
We're seeking a future team member for the role of Counsel EMEA Markets Legal: Clearance & Collateral Management to join our EMEA Markets Legal team. This role is located in London or Manchester - hybrid.
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 CCM Legal is responsible for:
  • Providing legal advice and legal support to BNYM's EMEA-based CCM team which provides BNYM's capabilities in EMEA in collateral management and triparty platform services, helping clients optimise their assets and manage counterparty risk;
  • Advising on law and regulation in the UK and obtaining advice on law and regulation from EMEA legal colleagues;
  • Structuring of collateral management transactions, the preparation, maintenance and negotiation of all contract templates, including ensuring that templates remain compliant with local law and regulation;
  • Negotiating contracts, including Collateral Management Agreements and related legal controls;
  • Advising on legal aspects of developing new products and the implementation of strategic and regulatory change across CCM in EMEA;
  • Advising on regulatory risk, legal risk and other legal aspects of CCM-related service provision and contractual arrangements; and
  • Providing advice to business risk committees and other relevant committees involving CCM.
Job Purpose:
The role will be to act as legal counsel responsible for supporting EMEA CCM, and will report into the Head of EMEA CCM 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 CCM (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 CCM 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 such as 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.
Requirements:
The candidate should have circa 3-5 years PQE with a legal background in institutional/wholesale banking and specifically trading, derivatives, securities financing transactions and markets-related disciplines.

Expertise in the following is desirable:
  • Collateral Management, Custody or Prime Brokerage;
  • Working knowledge of Markets regulatory frameworks;
  • Familiarity with clearing and settlement activities;
  • In-house legal and transactional banking operational experience at a global financial institution;
  • Experience with trading and derivative products;
  • Experience of interactions with Markets legal and wider business/risk/compliance colleagues; and
  • Experience with new product development and implementation of regulatory change
At BNY, our culture speaks for itself. Here's a few of our awards:
  • America's Most Innovative Companies, Fortune, 2024
  • World's Most Admired Companies, Fortune 2024
  • Human Rights Campaign Foundation, Corporate Equality Index, 100% score, 2023-2024
  • Best Places to Work for Disability Inclusion , Disability: IN - 100% score, 2023-2024
  • "Most Just Companies", Just Capital and CNBC, 2024
  • Dow Jones Sustainability Indices, Top performing company for Sustainability, 2024
  • Bloomberg's Gender Equality Index (GEI), 2023
Our Benefits and Rewards:
BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life's journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.

BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.

Employer Description:

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 and 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.

Job ID  55587-OTHLOC-100002890196741
ABOUT COMPANY
New York, United States
53400 Employees Investment Banking / M & A
Established in 1784, BNY is America's oldest bank and the first company listed on the New York Stock Exchange (NYSE: BK). Today, BNY powers capital ma...
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