Managing Counsel - Corporate Trust

Recruiter
BNY Mellon
Location
Manchester, United Kingdom
Salary
Competitive
Posted
31 Jul 2022
Closes
30 Aug 2022
Ref
16149401
Job Function
Banking
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Overview
Overview Of BNY Mellon:
For over 235 years, Bank of New York Mellon (BNY Mellon) has been at the center of the global financial markets, providing the world's leading institutions the tools, capabilities, and services to be distinctive investors. BNY Mellon has approximately $16.5 billion in revenues and a 23% return on tangible common equity.
BNY Mellon is a leader in the world of investment services and investment management, and our businesses support the full range of stakeholders of the financial system including:
  • Managing the custody of approximately $37 trillion financial assets of the world's leading institutional investors, hedge funds, sovereign wealth funds, and corporates
  • Investing approximately $2 trillion as one of the largest global asset managers across a wide range of asset classes
  • Providing collateral, liquidity, and funding for the world's largest banks through our markets franchise
  • Serving family offices and high net worth individuals through our wealth management franchise
  • Providing a full suite of solutions to advisors, broker-dealers, family offices, hedge and '40 Act fund managers, registered investment advisor firms and wealth managers
  • Advising large global corporations on a range of trust and other solutions
  • Providing integrated managed data services to asset managers
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 senior 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.
  • Involvement in and where appropriate, leadership of Bank projects.
  • 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.
  • 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.
  • Direct line management of junior members of the team and/or secondees and/or contractors, including responsibility for oversight of their work and development.
  • Development of Team strategy and proactive involvement in Team discussions and meeting.
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 10+ 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.
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.