- Entry level
- No Education
- Salary to negotiate
London, United Kingdom
Job number: 19027100
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Corporate Title: VP or Director
Line of Business: Legal
The Global Treasury Services (GTS) EMEA Legal group is responsible for legal work emanating out of the corporate trade finance businesses within the GTS group in EMEA, operating across multiple jurisdictions. The relevant EMEA client base is made up of corporates, financial institutions and non-bank financial institutions The primary purpose of this role is to provide first class, responsive legal advice to the GTS EMEA trade finance business, with a key focus on helping them achieve their business objectives with an appropriate risk/reward balance. The role will involve supporting one of the most successful businesses at the Bank; EMEA GTS has a high profile within the Bank and has visionary plans; the work is very dynamic, making for an interesting and stimulating workload, including involving working on live transactions, negotiating client contracts, and working with the product group in developing/expanding client offerings/initiatives.
The Legal Department is cohesive, evidenced by long-serving members; you will be joining an existing team of 3 which will give scope for exposure to the business and a wide variety of matters and issues. As you develop within the role, and become familiar with existing GTS products and services, there will be scope for growth, including taking on responsibility for projects and initiatives, involvement with other line of business lawyers in cross-functional projects/matters and additional responsibilities. We can offer a very stimulating and interesting role and workload, supporting a dynamic and revenue-growing business.
Advising in respect of often complex multi-jurisdictional trade finance transactions (such as approved payables/receivables financings and structured trade facilities)
Advising on client negotiations
Handling multi-jurisdictional due diligence reviews in relation to geographical product expansion and transactions
Preparing/advising on GTS template contractual/transactional documentation for trade finance transactions, including in the following areas:
Invoice discounting, approved payables finance (supply chain finance), receivables finance.
Pre- and post-export financing, including Export Credit Agency-backed loans.
Traditional trade import and export letters of credit, confirmation, discounting bills, etc.; guarantees, standby letters of credit, and related bilateral facilities and documentation.
Risk participations where the bank is either seller or buyer.
Electronic services, including for issuance of letters of credit and guarantees.
Working closely with other internal lawyers, including regulatory and credit lawyers, compliance and other partners
Reviewing and advising on publications and other communications for internal and external use
Efficiently engaging and managing outside counsel, as necessary
Liaising with the litigation team, as needed, to address and manage disputes and litigation matters and related risks
Acting as strategic partner to the business
Providing general legal support to the business, including the procurement of appropriate regulatory advice
Supporting business project initiatives
The GTS EMEA Legal team also supports the GTS cash and treasury management business, including in relation to existing and new product initiatives, offerings and services, regulatory issues arising out of the provision of global/pan-European payment and treasury services; related credit support documentation e.g. parental guarantees, which includes:
Advising on client negotiations of global and local client contracts, including account and electronic services documentation and liquidity contracts covering, among other services, notional account netting, physical cash concentration (sweeping) and interest optimisation arrangements.
Reviewing, updating and drafting relevant contractual documentation for GTS services.
Due diligence for clearing system participation.
Advising on new service offerings.
Handling queries from partners, including Product, Contract Management, Treasury Sales Officers, Fulfilment (including client services) and Operations on a range of product, client, payment and operational related issues.
Knowledge / Experience:
Qualified solicitor (UK Law) or equivalent experience.
Deep knowledge of trade finance is required.
Ability to provide business-focused legal advice and communicate clearly.
Ability to quickly understand and work on a wide variety of matters to demanding deadlines.
Excellent negotiation and organisational skills.
Some experience with US regulation (e.g. Regulation W (Affiliate Transactions); OFAC) is helpful.
About Bank of America Merrill Lynch
Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses. The company has had a presence in EMEA since 1922. With offices in 19 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch’s responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.
If you‘re interested in this opportunity please send your details to us by applying online. Good conduct and sound judgement is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mindset are the cornerstones of our Code of We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.
Posting Date: 18/04/2019
2 KING EDWARD ST - MLFC NEWGATE
- United Kingdom