Managing Counsel, Treasury Services, Banking and Payments

Recruiter
BNY Mellon
Location
London, United Kingdom
Salary
Competitive
Posted
28 May 2022
Closes
03 Jun 2022
Ref
15110268
Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Overview

Overview Of BNY Mellon:

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of March 31, 2021, BNY Mellon had $41.7 trillion in assets under custody and/or administration, and $2.2 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com . Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

Team Description: (Overview of the team)

The Treasury Services, Banking and Payments team is a specialist team within BNY Mellon Legal with a wide ranging remit to advise on cash and payments related legal issues affecting the Investment Services lines of businesses in EMEA.

In particular the team is responsible for:
  • Providing line of business legal support for the Treasury Services line of business based in London and Frankfurt which provides payments clearing and cash management services to institutional clients;
  • Providing line of business legal support for the Global Payments Operations department which is responsible for BNY Mellon's payments processing in EMEA;
  • Advising on BNY Mellon's direct membership of payment systems such as CHAPS and TARGET2;
  • Advising on Investment Services businesses on payments related law and regulation in EMEA;
  • Advising BNY Mellon's regulatory change programmes and businesses on payments regulatory initiatives including the implementation of EU directives and regulations across BNY Mellon's European branches;
  • Working with payments industry associations on payments related initiatives and regulatory change.


The team consists of two lawyers based in Londonand works closely with BNY Mellon lawyers in Germany, Belgium, the Netherlands, Luxembourg, Ireland and Poland. The team also sits within the EMEA Issuer Services and Poland broader Legal team.

Job Purpose: (What the job role involves)

English law qualified lawyer with responsibility for supporting the Treasury Services business and assisting on other matters and initiatives handled by the Treasury Services, Banking and Payments team. Also assisting line of business lawyers supporting other Investment Services business lines on banking and payments issues (primarily Asset Servicing, Markets and Corporate Trust). Based in London, Manchester or Edinburgh.

Responsibilities: (Key parts to the job role)

The position involves:
  • Acting as the principal legal contact for the Treasury Services Line of Business in EMEA;
  • Supporting as appropriate the global Treasury Services Legal team in advising the global Treasury Services business
  • Advising on Treasury Services products and services in EMEA, such as account based services, correspondent banking and payments clearing, on-line banking and cash concentration services, including proposed new product developments;Advising on laws and regulations affecting the Treasury Services business, including payments related regulations such as the Payment Services Directive and other firm wide initiatives or regulations affecting Treasury Services such as for example GDPR, EBA Outsourcing Guidelines;
  • Advising on the Treasury Services target operating model in EMEA, including its booking, sales and marketing models;
  • Advising on matters affecting the Treasury Services branches and representative offices in EMEA, in conjunction with internal or external counsel locally;
  • Drafting and updating standard form customer agreements for Treasury Services EMEA products;
  • Handling Treasury Services documentation negotiations and client queries, including working with the EMEA Litigation Department as necessary on any client disputes;
  • Advising on EMEA banking and payments related law and regulation such as the Payment Services Directive, the Payment Systems Regulator, Deposit Guarantee Schemes Directive, Funds Transfer Regulation, Cross Border Payments Regulation, SEPA;
  • Assisting line of business lawyers supporting other Investment Services businesses on banking and payments matters, including the Asset Servicing, Markets and Corporate Trust businesses:
  • Advising EMEA Global Payments Operations, for example on banking regulatory implementations, payments clearing systems issues, payment processing and operational issues, cash account and banking models, service level agreements;
  • Advising on service level agreements and internal and external outsourcing by Treasury Services and Global Payments Operations;
  • Instruction and management of external counsel (including assistance with analysis and collation of advice from counsel);
  • Providing timely advice and assistance to business, risk and compliance partners;
  • Representing Legal and actively participating in internal governance bodies, business committees and working groups and payments industry association working groups;
  • Assisting with the development of training sessions for colleagues on relevant topics and
  • Supporting knowledge sharing within the legal team including with lawyers participating in the EMEA Legal banking and payments practice group.


Key relationships / stakeholders:
  • Head of EMEA Issuer Services, Banking and Payments and Poland Legal
  • Wider Investment Services Legal team
  • Treasury Services business colleagues
  • Global Payments Operations business colleagues
  • Compliance & Ethics
  • Office of Public Policy & Regulatory Affairs (within EMEA legal);
  • Risk Management
  • EMEA wide legal team


Requirements:

The successful candidate will have 7-12 years' PQE with a legal background in general banking businesses. Preferred technical skills and experience include:
  • In-house legal experience of payments related issues at a global financial institution;
  • Working experience of cash clearing systems;
  • Knowledge of applicable local and EU law and regulation regarding fund transfers, deposits, and other related cash management offerings;
  • Familiarity with international banking and capital markets;
  • Experience of providing commercial and robust Legal advice to a growing, global line of business
  • Experience managing outside counsel; and
  • Experience of interactions with wider business/risk/compliance colleagues.


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.


What we can offer you:

  • Challenging, fun and supportive environment
  • 25 days holiday (in addition to Bank Holidays) plus opportunity to purchase up to 5 extra days
  • Highly competitive benefits package including pension and private medical cover


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.

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