Managing Counsel- Foreign Exchange & Derivatives Managing Counsel- Foreign Exchange & Derivatives …

BNY Mellon
in New York, NY
Permanent, Full time
Be the first to apply
Competitive
BNY Mellon
in New York, NY
Permanent, Full time
Be the first to apply
Competitive
Managing Counsel- Foreign Exchange & Derivatives
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 worldwide. The bank is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior trading, asset management and wealth management, asset servicing, issuer services, clearing and collateral management services, and treasury services through a worldwide client-focused team.

In the US, BNY Mellon's Markets Legal team is primarily based in New York but works closely with Legal colleagues worldwide. In addition to product-specific advice, the team provides a broad range of legal and regulatory advice and assistance to BNY Mellon's Markets businesses. Among other key areas, Markets Legal supports BNY Mellon's Foreign Exchange and Derivatives Trading businesses.

Markets Legal is currently looking to add a Managing Counsel to support BNY Mellon's FX and Derivatives trading activities. The role will focus primarily on delivering effective Legal support in relation to revenue-generating activity, and implementation of strategic and regulatory change, for those business areas. A successful candidate will work with other lawyers in the US, EMEA and APAC to deliver a high standard of legal advice tailored to BNY Mellon's business models.

The position involves the following key responsibilities:

• Providing advice and assistance to business, Credit, Risk and Compliance partners in respect of the bank's FX/Derivatives activities;

• Providing legal advice and assistance on related legislation and regulation, new markets, and new product development;

• Working closely with business managers and BNY Mellon control functions (Compliance, Credit, Risk, Legal) to ensure understanding of the bank's regulatory and contractual obligations;

• Advising on the documentation for new services, markets, and strategic business initiatives;

• Drafting, reviewing and negotiating legal contracts;

• Advising on settlement finality, netting and collateral enforceability issues related to the FX and Derivatives business;

• Monitoring, interpreting and communicating on proposed regulations and their application to the FX and Derivatives business;

• Monitoring and advising on industry best practices pertaining to the FX and Derivatives business;

• Assisting with responses to regulatory exams and other relevant inquiries and internal audits;

• Overseeing and managing the retention of outside counsel on FX/Derivatives business initiatives;

• Maintaining an understanding of global regulatory issues impacting the business through engagement with APAC and EMEA colleagues.

The successful candidate will have at least 7 years of relevant legal and regulatory experience, specifically experience with foreign exchange and derivatives trading and related CFTC and NFA regulation. Custody bank related experience is an advantage but not required. Experience with the following is highly desirable:

• foreign exchange trading and capital markets legal and regulatory issues;

• OTC market-related regulatory frameworks, in particular roles implementing and advising on CFTC and NFA rules; and

• in-house legal and transactional advice at a global financial services institution.

The successful candidate should also demonstrate the following:

• excellent interpersonal and communication skills;

• strong drafting and negotiation skills;

• good organization skills;

• problem solving orientation and an ability to identify practical solutions;

• flexible and adaptable working style able to handle a demanding workload and changing priorities;

• self-motivation;

• client-orientation and a willingness to cultivate good working relationships with colleagues; and

• experience in appropriately balancing commercial flexibility and legal risk management.
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