Attorney - Clearing & Fixed Income Derivatives

Job Description:

Job Title: Attorney – Clearing & Fixed Income Derivatives

Location: London

Corporate Title: Director & Assistant General Counsel

Company Overview:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities, and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees.

Location Overview:

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space.

The Team:
The role will sit within the Global Fixed Income Legal team. The team works closely with colleagues in Equities, Credit and the Commodities globally on BAU issues and large-scale global projects. The BofA Legal Department offers comprehensive programs and opportunities related to career development and mentoring.

Responsibilities:

• The position provides legal representation and support for the EMEA Futures & OTC Clearing business, covering general clearing-related issues, including:
• Legal advice to the Futures and OTC clearing business, collateral management, and other support partners on BAU issues as well as clearing projects.
• Coordinate and support attorneys who cover the Futures & OTC Clearing business in U.S. and APAC.
• Regulatory advice relating to regulations impacting clearing activities such as EMIR 3.0 and CASS rules.
• Legal advice in respect of the Bank’s risk to CCPs, covering issues such as clearing member liability, withdrawal rights, and CCP netting opinions.
• Provide netting advice as well as legal support on accounting and capital issues relating to clearing.
• Advise the business and the documentation group on negotiating customer agreements for Futures & OTC clearing and negotiate more complex agreements directly with clients.
• Coordinate with outside counsel on regulatory, enforcement, and general corporate matters relating to the clearing business.

Experience and Skills:

• Attorney must be licensed to practice in the appropriate jurisdiction(s).
• Should have strong experience in advising on futures and OTC clearing issues on both the client clearing documentation front as well as a solid understanding of key clearing house rules.
• General experience with uncleared interest rate swap or FX is desirable.
• An excellent attention to detail and accuracy in drafting is a key requirement.
• Ability to communicate clearly and persuasively, both verbally and in writing.

Benefits of working at Bank of America:

• Private healthcare for you and your family plus an annual health screen.
• Competitive pension plan, life assurance and group income protection cover.
• 20 days of back-up childcare and adult care per annum.
• Ability to change your core benefits and select a variety of flexible benefits.
• Access to an emotional wellbeing helpline and Employee Assistance Program.
• Opportunity to donate to charities of your choice directly through payroll.
• Opportunity to give back to your community by volunteering.

Bank of America:

Good conduct and sound judgment are crucial to our long-term success. It’s important that all employees in the organisation understand the expected standards of conduct.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of any protected characteristic.

We strive to ensure that our recruitment processes are accessible for all candidates.