Counsel - Asset Servicing
BNY MellonLondonUpdate time: June 15,2021
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, ASD, issuer services, clearing services and treasury services through a worldwide client-focused team. Team Description: (Overview of the team) The EMEA ASD and Digital (“ASD”) team provides legal services to all EMA ASD lines of business (“LOBs”) which includes core ASD (custody and administration), Depositary Services, Alternative Investment Services (“AIS”) and global network lines of business (“LOBs”). The main team is based in London but works closely with colleagues in Edinburgh, Dublin, Brussels, Frankfurt, Luxembourg, and Amsterdam. The team also liaises frequently with colleagues in the United States and APAC region on the business lines it supports. In particular the team is responsible for: • Advising on law and regulation in the UK with insight and support from EMEA legal colleagues, where applicable; • Preparation and maintenance of all contract templates ensuring continuous compliance with local law and regulation; • Contract negotiation and legal sign-off; • Advising on legal risk and other aspects of service provision and contractual arrangements; • Liaising with non – LOB teams including compliance, risk and product on legal matters applying to LOBs, including working with the broader legal team (e.g., Litigation team and Public and Regulatory Affairs); and • Attendance at LOB risk committees, business acceptance committees, regulatory committees and other governance bodies. The team has six London based ASD lawyers supporting key LOBs and entities in EMEA. The team forms part of a wider practice area in EMEA including lawyers in Edinburgh, Belgium, Germany, the Netherlands, Luxembourg and Ireland. Job Purpose: (What the job role involves) Your role will involve being responsible for supporting the ASD EMEA business line. You will have responsibility for global custody documentation and certain depositary issues, settlement and ancillary matters across different markets and asset classes. Leading on legal negotiations and advising business colleagues, including at senior levels. LoB responsibility for regulatory change, liaising with regulatory legal team and others and involvement in the Bank’s digital asset strategy as it relates to ASD. Your role will also involve being a dedicated legal provider to one large client (although not solely committed to that client). You will work with other lawyers in the EMEA Legal department, and jurisdictional specific lawyers, to deliver a high standard of legal advice that is tailored to BNYM’s business models. Responsibilities: (Key parts to the job role) The position involves reviewing and advising on: • Global Custody and Depositary Agreements and associated documentation; • Documents relating to other services provided by ASD business; • Advise and prepare documentation in relation to internal and external outsourcing by ASD business, including Operations; • Contract implementation issues including conducting ongoing review and updating of BNYM standard form agreements; • Strategic project and product development work; • Assisting the business on regulatory issues where necessary, including maintaining an awareness and understanding of existing and proposed regulatory requirements, trends and best practices in EMEA and where applicable, the US, and assisting the business in maintaining an appropriate profile with industry groups and others on key issues; • Instruction and management of external counsel (including assistance with analysis and collation of advice from such counsel); • Providing timely advice and assistance to the business, risk and compliance partners; • Represent Legal and actively participate in governance bodies, business steering committees and working groups; • Assistance with the development of formal training sessions for business colleagues on relevant topics, e.g. documentary standards/policies/market industry issues/legal issues; and • Supporting knowledge sharing within the legal team. Key relationships / stakeholders: • Head of EMEA ASD legal • BNYM ASD business • Compliance & Ethics, including CASS Compliance; • Public Policy & Regulatory Affairs (within EMEA Legal); • Risk Management; • Network Management and Network Legal Functions; • EMEA wide legal team; and • Global legal ASD team Qualifications Requirements; (what we are looking for) The successful candidate will have 4 to 7 years PQE with a legal background in custody or custody intensive businesses. Preferred technical skills and experience include: • In-house legal and transactional banking operational experience at a global financial institution; • Working experience of custody and market infrastructure arrangements; • Knowledge of applicable local and EU legislation and regulation; • Regulatory knowledge including CASS, AIFMD, UCITS, MIFID I/II; • Experience managing outside counsel; • Experience of interactions with wider business/risk/compliance colleagues; • Demonstrable ability to quickly analyse problems and to devise and deliver appropriate solutions; and • Flexible and adaptable working style to react to changing priorities. The candidate should also have: • Excellent interpersonal and communication skills; • Excellent drafting and negotiation skills; • Strong organisation skills; • Adept problem solving skills – 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 – ability to work autonomously; • Customer orientation & 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 out on all matters. BNY Mellon is an Equal Employment Opportunity Employer. Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums. Primary Location: United Kingdom-Greater London-London Job: Legal Internal Jobcode: 85115 Organization: Legal-HR06241 Requisition Number: 2110525

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