Counsel EMEA Markets Legal: Clearance & Collateral Management

at  BNY Mellon

Overview
Bring your ideas. Make history.
BNY Mellon offers an exciting array of future-forward careers at the intersection of business, finance, and technology. We are one of the world’s top asset management and banking firms that manages trillions of dollars in assets, custody and/or administration. Known as the “bank of banks” - 97% of the world’s top banks work with us as we lead and serve our customers into the new era of digital.
With over 240 years of rich history and industry firsts, BNY Mellon has been built upon our proven ability to evolve, lead, and drive new ideas at every turn. Today, we’re approximately 50,000 employees across 35 countries with a culture that empowers you to grow, take risks, experiment and be yourself. This is what #LifeAtBNYMellon 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.

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.

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 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.