Markets Legal is currently looking to add a Counsel, FX & Derivatives attorney to support BNY Mellon’s FX and Derivatives trading activities. The role will focus primarily on delivering effective legal support for the bank’s over-the-counter trading businesses including the management of our trading documentation team. 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:
Negotiating ISDAs, CSA’s, account control agreements, novations, guarantees and related documentation in support of BNY Mellon’s FX and Derivatives businesses.
Managing a team of 4 document negotiators, currently composed of both contractor and internal resources.
Working closely with business partners and BNY Mellon control functions (Compliance, Credit, Risk, Legal) to complete documentation and remediation projects.
Providing advice and assistance to Business, Credit, Risk and Compliance partners in respect of the bank’s FX/Derivatives activities.
Advising on settlement finality, netting and collateral enforceability issues related to BNY Mellon’s FX and Derivatives businesses.
Monitoring, interpreting and communicating on proposed regulations and their application to FX and Derivatives businesses.
Able to take responsibility for significant project assignments such as LIBOR remediation efforts and Reg IM implementation.
Representing Legal in project steering committees and documentation status meetings.
The successful candidate will have 5-7 years of relevant experience, specifically experience with FX and derivatives trading documentation. Experience with the following is also highly desirable:
Custody bank foreign exchange products and services;
MSFTA’s and related collateral issues; 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;
Client-orientation and a willingness to cultivate good working relationships with colleagues; and
Experience in appropriately balancing commercial flexibility and legal risk management.