FX & Derivatives Attorney – Senior Managing Counsel (NY)
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. BNY Mellon is registered as a swap dealer with the CFTC and as a securities-based swap dealer with the SEC.
Markets Legal is currently looking to add a Senior 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.
Key Responsibilities:
- Assist the FX & Derivatives business by providing solution-oriented legal and regulatory advice, and working on global projects to support the swap dealer activities and FX & Derivatives products generally.
- Help provide training, guidance and leadership to the FX & Derivatives legal team, which includes attorneys working on regulatory matters, new products as well as attorneys and paralegals negotiating ISDA Master Agreements and Credit Support Annexes and related documentation.
- Work closely with Compliance, Credit and Risk partners and other internal lawyers, participate on internal committees.
- Assist with responses to regulatory exams and other regulator inquiries (Federal Reserve, CFTC, NFA, SEC, etc.)
- Interact with senior management with respect to initiatives and derivatives-related CFTC and SEC regulations applicable to the FX & Derivatives business.
- Assist and represent the FX & Derivatives Legal team in enterprise-wide and departmental projects.
- Review and draft policies and procedures for the FX & Derivatives business.
- Participate in industry advocacy as part of relevant industry groups, including ISDA, SIFMA and FIA.
- Maintain an understanding of global regulatory issues impacting the business through engagement with APAC and EMEA colleagues.
Required Skills, Knowledge and Experience:
- Law degree (J.D.) and licensed to practice law in New York.
- Minimum [12 years] of experience at a law firm and/or large financial institution dealing with FX and derivatives (including OTC instruments, futures, etc.)
Experience with Dodd-Frank Act, Commodity Exchange Act, Securities Act of 1933, relevant CFTC and SEC regulations and NFA rules is required; as well as experience with
BNY Mellon assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $158,000-$275,000 per year at the commencement of employment. However, base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNYM total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs.
This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans.
Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.