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)
The Bank of New York Mellon is a leading provider of corporate trust and agency services to the international capital markets. The EMEA Corporate Trust (“CT”) legal team advises the EMEA CT business across Corporate and Sovereign Debt, CDO/CLOs, Repackagings, ABS/MBS, bespoke Structured Finance, Custody, Escrow, Islamic Finance and Project Finance issues. The EMEA CT legal team cover pre- and post-closing issues, amendments, exercises of trustee discretion, transaction restructurings, defaults, remediation, product development and contentious matters. EMEA CT Legal also advise the EMEA CT business on the implementation of applicable regulation or changes in law and works closely with colleagues in APAC and the US Legal teams to ensure that legal, regulatory or policy changes applicable across each relevant jurisdictions are applied consistently.
Job Purpose: (What the job role involves)
Your role will be to act as legal counsel responsible for supporting CT's EMEA business lines and will report into a senior member of the EMEA Issuer Services Legal Teams (comprising Corporate Trust and Depositary Receipts).
You will coordinate 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:
• Providing timely advice and assistance to business, risk and compliance partners.
• Initial point of contact/support for designated product lines, including attendance at semi-weekly business acceptance committee and trustee committee meetings as applicable.
• Supporting the Transaction Management Group in the negotiation of documents, which may or may not be based on Bank standard agreements, programme updates, drawdowns, etc., to ensure compliance with all policies and procedures promulgated by the Legal Department.
• Consideration of proposed amendments to existing deal documents/structures.
• Providing advice and formulating strategy on transaction restructurings and contentious matters in relation to both trustee and agency capacities,
• Assisting CT in devising and implementing FINTECH strategy and products.
• Building relationships with all Business Managers, Relationship Managers, Transaction Managers and Client Service 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 e.g. ICMSA and TACT.
• 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, regulatory issues, or else legal issues.
• Assistance with the development of formal training sessions for business colleagues on relevant topics, e.g. documentary standards/policies/market industry issues/legal issues.
• Informal knowledge-sharing within the legal team.
• 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.
• Advising EMEA senior management on regulatory trends emerging across EMEA and assisting in developing consistent good practice in respect of custody regulation.
Key relationships / stakeholders:
• Global Legal CT team;
• BNYM CT Senior Business Managers, Default and Administration Group officers, Transaction Management Group officers, Client Service Managers, Product Management and Relationship Managers within the CT businesses;
• Compliance & Ethics;
• Office of Public Policy & Regulatory Affairs (within EMEA Legal);
• Risk Management;
• EMEA wider legal team.
Requirements: (what we are looking for)
The successful candidate will be legally qualified with a background in private practice, and will preferably have had in-house legal or business experience, with circa 5+ years PQE. The following experience is highly desirable:
• Restructuring and work-out experience with debt transactions.
• Experience in representing agents, trustees, collateral administrators and custodians in transactional and contentious matters.
• Experience with debt and debt-related transactions, including mortgage- and asset-backed securitisations, repackagings, collateralised debt/loan obligations, structured investment vehicles and conduits, project finance transactions and other forms of structured finance transactions.
• Working knowledge of CT regulatory frameworks including proven experience of delivery on regulatory projects.
• Experience of interactions with CT legal and wider business/risk/compliance colleagues.
• Excellent drafting and negotiation skills.
• Regulatory background and experience of regulatory/strategic change.
The candidate should also have:
• Excellent interpersonal and communication;
• 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.