Attorney - Global Transaction Services - Payments
Posted on: 20 Feb 2021
New York City, New York
Job Description
Job Description:
Provide legal support for a host of cash management services including domestic and international funds transfers (e.g., wire and ACH), FX, checks, digital disbursements, electronic bill payment, and other non-card payment services, as well as for e-commerce initiatives. Provide legal advice relating to domestic and international payment, messaging and settlement systems, including Fedwire, CHIPS and SWIFT. Work with regional GTS counsel supporting products and initiatives in their respective regions on global matters emanating from the US, including coordinating with outside counsel to conduct global due diligence projects.
Provide thorough, accurate, timely and practical legal advice with an appropriate risk/reward balance on all applicable issues, including with respect to new product development, product support, operational matters, customer complaints, termination of customer relationships and marketing communications. Assist in the resolution of payments issues and concerns, including addressing issues of payment fraud and cyber-fraud, fraud recovery, and similar concerns. Provide legal support with respect to legal and regulatory issues.
Facilitate product development and implementation by providing advice on innovative payment technologies, such as Distributed Ledger, Real Time Payments, Electronic Signature, and Digital Wallets. Draft and negotiate contracts, particularly with respect to new products and customized agreements, and engage and manage outside counsel, if needed, to assist. Work closely with Contract Management on RFP and contract issues.
Partner with others in Legal, Risk and Compliance in order to ensure that issues are appropriately vetted, addressed and escalated.
Requirements:
* 10-15+ years of law firm and/or internal counsel experience in the financial services industry, including with respect to the cash management business, and a solid understanding of banking laws, regulations and rules impacting the above cash management services, including ACH/NACHA rules, UCC Articles 3, 4 and 4A, and other payment system rules.
* Strong negotiation and organizational skills.
* The ability to communicate clearly, both verbally and in writing, at all levels within the organization, including being able to make and communicate difficult decisions to appropriate persons in the organization.
* Strong work ethic and self-initiative, with the ability to manage a high volume of work in a fast-paced and changing environment.
* The ability to effectively balance risk and reward and to be a strategic partner with clients to help them achieve their business objectives with an appropriate risk/reward balance.
* Strong interpersonal skills with the ability to work well as part of a team with other lawyers, clients, Risk, Compliance, Contract Management and other partners.
* Qualified Attorney with a JD and active bar membership in good standing.
Shift:
1st shift (United States of America)
Hours Per Week:
40
Bank of America
Charlotte, NC
Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small- and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets. The Consumer Banking segment offers traditional and money market savings accounts, CDs and IRAs, noninterest- and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.
This segment provides its products and services through approximately 4,300 financial centers; 16,300 ATMs; call centers; and digital banking platforms. The GWIM segment offers investment management, brokerage, banking, and trust and retirement products; and wealth management solutions targeted to high net worth and ultra high net worth clients, as well as customized solutions to meet clients’ wealth structuring, investment management, and trust and banking needs, including specialty asset management services.
The Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services.
The Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management, foreign exchange, fixed-income, and mortgage-related products. Bank of America Corporation was founded in 1874 and is headquartered in Charlotte, North Carolina.
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IndustryBanking/Financial Services
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No. of Employees205,000
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Website
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Jobs Posted2694
