This position provides legal support for Bank of America’s Global Transaction Services (GTS) business unit with respect to a variety of payment and cash management products and services provided to multinational, large corporate and other commercial customers, as well as public sector clients, to help them meet their treasury needs. The attorney supports GTS Product, Sales, Operations and Contract Management teams, as well as their marketing and other partners, with a key focus on helping them achieve their business objectives with an appropriate risk/reward balance.
- Provide legal support for card payment products, including corporate and commercial card, prepaid card and local issuing bank programs, as well as for other payment and cash management products such as virtual payables and mobile wallets, and card sponsorship, both in the US and globally.
- Provide legal support for GTS product related credit transactions, including bilateral credit agreements, collateral and security agreements, public depository collateral arrangements, and guarantees. Consult with domestic and international lending counsel on the interplay of these documents with syndicated and other credit facilities where required.
- 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, contract negotiation, legislative matters, regulatory developments, pre-litigation issues, client correspondence, and marketing communications (as needed).
- Draft and negotiate contracts, particularly with respect to new products and customized agreements, including service agreements, and credit agreements, collateral and security agreements, and guarantees, relating to GTS products.
- Provide support with respect to legal and regulatory issues and developments, including cross-border and international card issues. Work with outside counsel across various jurisdictions on legal due diligence in support of the card program.
- Engage and manage outside counsel, as needed, to assist, including with respect to cross-border due diligence projects. Work closely with Contract Management on RFP and contract issues relating to card payment products.
- Work with the head of the GTS Legal Card Practice Group and, as to global matters, with regional GTS counsel supporting products and initiatives in their respective regions, as a Global Card attorney.
- Partner with others in Legal, Risk and Compliance in order to ensure that issues are appropriately vetted and addressed.
- Escalate risk issues to the head of the GTS Legal Card Practice Group and to the head of GTS Legal, as appropriate, and partner with clients when non-standard approvals are required to be obtained before proceeding with an initiative due to the nature of the risks presented.
Required Skills & Experience:
- Minimum of 5 years supporting cash management payment services, including card payment products
- Minimum 7 years of law firm and/or internal counsel experience supporting credit documentation
- Experience supporting negotiations for the products described above.
- Minimum of 5 -10 years of law firm and/or internal counsel experience in the financial services industry in general
- A solid understanding of banking laws, regulations and rules impacting card products.
Desired Skills & Experience:
- Experience providing product support for card payment and cash management products
- Strong negotiation and organizational skills.
- Capability to communicate clearly and effectively, both verbally and in writing, to individuals at different levels within 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.
- 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.
- Juris Doctor from an ABA accredited institution.
- Admitted to State Bar in good standing