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Job Description
Counsel, Treasury Services, Banking and Payments
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 as well as providing dedicated legal support to the Treasury Services business.
In particular the Team is responsible for:
- Advising 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;
- Providing 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;
- Working with payments industry associations on payments-related initiatives and regulatory change; and
- Providing legal support to the EMEA Treasury Services line of business, which provides payments clearing and cash management services to institutional clients based in London and Frankfurt, as well as to the global Treasury Services business as appropriate.
Job Purpose: (What the job role involves)
English law qualified lawyer with responsibility for advising on banking and payments matters, assisting on payments-focused regulatory initiatives across the EMEA region. Also assisting Treasury Services and other EMEA line of business lawyers who support different Investment Services business lines (primarily Asset Servicing & Digital, Markets and Corporate Trust) on banking and payments issues. Subject to capacity, the lawyer will additionally work with the other Team member to provide general Legal support (including transactional support) to the Treasury Services line of business both in EMEA and globally where appropriate. Based in London, Manchester or Edinburgh.
Responsibilities: (Key parts to the job role)
The position involves:
- Acting as the principal legal advisor on EMEA banking and payments-related law and regulation such as the Payment Services Directive 2, the Deposit Guarantee Schemes Directive, the Funds Transfer Regulation, the Cross Border Payments Regulation, and the SEPA Regulation;
- Assisting line of business lawyers supporting other Investment Services businesses on banking and payments matters, including the Asset Servicing & Digital, 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;
- Advising on service level agreements and internal and external outsourcing by Treasury Services and Global Payments Operations;
- Advising on laws and regulations specifically affecting the Treasury Services business, including payments-related regulations such as PSD2, as well as working with other EMEA Legal lawyers on bank--wide initiatives or enterprise-wide regulatory projects that may impact Treasury Services, such as for example GDPR, and the EBA Outsourcing Guidelines;
- Providing general legal support to the Treasury Services Line of Business in EMEA, and where appropriate, to the global Treasury Services business and global Legal team, including advising on existing products and services in EMEA (including payments, correspondent banking, accounts and cash management products),
- Instruction and management of external counsel (including assistance with analysis and collation of advice from such 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.
- Head of EMEA Issuer Services, Banking and Payments and Poland Legal
- Global Treasury Services Legal team (US and Australia)
- 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
The successful candidate will have 5-10 years' PQE with a legal background in general banking businesses with a particular focus on payment regulations. Preferred technical skills and experience include:
- In-house legal experience of payments-related issues, transactional banking and bank regulatory projects 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.
- 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.
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.
ABOUT COMPANY BNY Mellon Corporation Boston, United States
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecy...