Pershing LLC is seeking a Director, Managing Counsel to support Pershing LLC (“Pershing”) a registered clearing broker-dealer, based in Jersey City, New Jersey. (Office Location shall be in Lake Mary, Florida, or Pennington NJ, with hybrid of arrangement, in office 3 days a week, remote 2 days a week.)
This individual should have excellent leadership, analytical, interpersonal, communication and negotiation skills, and should be able to prioritize job functions effectively. The Director, Managing Counsel for Pershing will draft, manage, and negotiate complex client agreements, including fully disclosed clearing agreements, advisory agreements, non-disclosure agreements, mutual fund distribution agreements, and technology agreements. This role shall also be responsible for providing general advice to various business lines on a wide range of matters. An ideal candidate has in-house counsel experience in securities law or experience with a regulator, with expertise in the Securities and Exchange Act of 1933 and 1934, FINRA rules and regulations, and the Investment Advisor’s Act. General knowledge of privacy laws a plus.
Provides business management and associates with thoughtful, comprehensive legal advice and guidance in a fast-paced business environment subject to ever-changing regulatory expectations. Serves as a key adviser on the legal department’s leadership team influencing regulatory risk management policy and direction at the firm Keeps fully informed on legislation / regulation affecting Pershing’s operations to better assist and counsel in decision-making. A broad-based financial services background is required.
Responsibilities:
- Collaborate with business unit senior management with respect to strategic issues.
- Prepare, review, and negotiate company contracts, requests for proposals and other legal documents.
- Respond on a timely basis to day-to-day inquiries from business partners regarding court orders, assets distribution requests and account set-ups.
- Assist business partners with ease of doing business for clients while minimizing risks to the enterprise.
- Draft disclosures as needed, including conflicts of interest and others required by rule or regulation.
- Provide leadership and direction on regulatory and ethical business conduct.
- Serve as liaison with outside legal firms and monitor / evaluate their activities.
- Educate business leaders and associates in emerging legal and regulatory best practices.
- JD Degree and licensed to practice law in Florida, and/or New Jersey or willing to obtain an In-House license.
- Must be in good standing in licensed jurisdiction and up to date with CLE requirements.
- 8+ years of experience with a financial services firm, investment adviser, bank or regulatory agency preferred.
- Excellent oral and written communications skills. Strong presentation skills.
- Strong interpersonal skills to influence and impact business decisions.
- Knowledge of laws and regulations that affect securities clearing and brokerage custody is strongly preferred.
- Expert judgment and decision-making skills.
- Self-starter / motivated / takes ownership
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 $136,000 and $225,000 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.