BNY Mellon Legal Counsel, Asset Servicing in London, United Kingdom

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 & 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:

As part one of the safest and most trusted financial institutions, the BNY Mellon Legal department mitigates risk and handles legal affairs to ensure the security of the company and its clients. BNY Mellon's Legal Department, has overall responsibility for government affairs and advises on advocacy and policy initiatives of the company to support BNY Mellon's domestic and international operations, and they also support all bank regulatory and supervisory issues.


Team Description: (Overview of the team)

The Asset Servicing team provides legal services to the EMEA Asset Servicing (“AS”), Depositary, Broker Dealer Services (“BDS”) and Alternative Investment Services (“AIS”) lines of business. The main team is based in London but works closely with colleagues in Dublin, Brussels, Frankfurt, Luxembourg, and Amsterdam. The team also liaises with colleagues in the United States and APAC region on the business lines it supports.

In particular the team is responsible for:

Advising on law and regulation in the UK. Obtaining advice on law and regulation from EMEA legal colleagues;

Preparation and maintenance of all contract templates ensuring continuous compliance with local law and regulation;

Contract negotiation and legal sign off;

Advising on legal risk and other aspects of service provision and contractual arrangements;

Liaising with non – line of business (“LoB”) teams on legal matters applying to AS, Depositary, BDS and AIS, including working with the Litigation team and the Office of Public and Regulatory Affairs; and

Providing members to LoB risk committees, business acceptance committees, regulatory committees and other governance bodies.

The team has six London based asset servicing lawyers supporting key custody and clearing business lines and entities in EMEA. The team forms part of a wider practice area in EMEA including lawyers in Belgium, Germany, Luxembourg and Ireland.

  • Job Purpose: (What the job role involves)*

Qualified lawyer with responsibility for global custody documentation, clearing settlement and ancillary matters across different markets and asset classes. Leading on legal negotiations and advising business colleagues, including at senior levels. LoB responsibility for regulatory change, liaising with regulatory legal team and others. Based in London.

  • Responsibilities: (Key parts to the job role)*

The position involves reviewing and advising on:

  • Global Custody and Depositary Agreements and associated documentation;

  • Documents relating to other services provided by Asset Servicing business;

  • Advise and prepare documentation in relation to internal and external outsourcing by Asset Servicing business, including Operations;

  • Contract implementation issues including conducting ongoing review and updating of BNYM standard form agreements;

  • Strategic project and product development work;

  • Assisting the business on regulatory issues where necessary, including maintaining an awareness and understanding of existing and proposed regulatory requirements, trends and best practices in EMEA and where applicable, the US, and assisting the business in maintaining an appropriate profile with industry groups and others on key issues;

  • Instruction and management of external counsel (including assistance with analysis and collation of advice from such counsel);

  • Providing timely advice and assistance to the business, risk and compliance partners;

  • Represent Legal and actively participate in governance bodies, business steering committees and working groups;

  • Support to instruction and management of external counsel, (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/legal issues; and

  • Supporting knowledge sharing within the legal team.

Key relationships / stakeholders:

  • Head of EMEA Asset Servicing legal

  • Wider Asset Servicing Legal team

  • BNYM Asset Servicing business

  • Compliance & Ethics;

  • EMEA Markets Legal;

  • EMEA Issuer Services;

  • Office of Public Policy & Regulatory Affairs;

  • Risk Management;

  • Network Management and Network Legal Functions; and

  • EMEA wide legal team.


  • Requirements; (what we are looking for)*

  • The successful candidate will have proven PQE with a legal background in custody or custody intensive businesses. Preferred technical skills and experience include:

  • In-house legal and transactional banking operational experience at a global financial institution;

  • Working experience of custody and market infrastructure arrangements;

  • Knowledge of applicable local and EU legislation and regulation;

  • Knowledge of CASS, AIFMD, UCITS, MIFID I/II;

  • 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.

  • BNY Mellon is an Equal Employment Opportunity Employer.*

  • Primary Location:* United Kingdom-Greater London-London

  • Job:* Legal

  • Internal Jobcode:* 50184

  • Organization:* Legal Affairs-HR06241

  • Requisition Number:* 1608402

Category: Legal