Attorney – Global Payments

Job Description:

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. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
 
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Job Description:
Provides general legal counsel on matters supporting the Bank's global product solutions activities, as well as specific advice on products, services and certain legal actions. Reviews legal contracts and documents. Directly, or through staff, conducts legal research. May represent the bank in legal actions. Individuals in this position typically have a minimum of six years of experience since admission to the Bar.
Responsibilities:

The primary responsibilities for this role will be to provide high quality and responsive legal advice to the Global Payments Solutions (GPS) team with respect to:  merchant and commercial client contract negotiations, structuring of new products and services, and modification/customization of existing products and services. In addition to supporting Merchant Services, this role will support (a) the GPS contract management team with client negotiations, creation and revision of form templates and documentation requirements, (b) advise on Liquidity & Receivable product issues and (c) provide advice related to cash management products and services. This lawyer will also be responsible for leading large projects (including global projects) to support complex products and global and regional initiatives.

Responsibilities will include, without limitation:  (a) negotiating and drafting client documents, (b) reviewing and advising on third party contracts, (c) advising and coordinating outside counsel involvement where necessary on new products and services and advising on issues related to existing products and services, (d) revising form templates, (e) coordinating large projects with respect to GPS products and services, (f) reviewing and advising on marketing materials, disclaimers and related communications, (g) liaising with relevant subject matter experts to provide cohesive legal advice to client teams, and (h) acting as a strategic partner to the business

Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.
• Models an inclusive environment for employees and clients, aligned to company D&I goals
• Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement
• Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions
• Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues
• Provides inspection, coaching and feedback to motivate, differentiate and improve performance
• Actively manages expenses and budgets in alignment with objectives, making sound financial decisions
• Assesses talent and builds bench strength for roles across the organization
• Delivers results by effectively prioritizing, inspecting and appropriately delegating team work
Skills:
• Interpret Relevant Laws, Rules, and Regulations
• Advisory
• Legal Drafting and Writing
• Critical Thinking
• Policies, Procedures, and Guidelines
• Problem Solving
• Regulatory Compliance
• Issue Management
• Decision Making
• Influence
• Legal Structures and Legal Forms
• Attention to Detail
• Stakeholder Management
• Collaboration

Required Qualifications:

• 5-12 years law firm and/or internal counsel experience in the financial services industry negotiating contracts related to the merchant services and cash management businesses and a solid understanding of banking laws, regulations and rules impacting payments, liquidity, receivables and cash management services.
• Active bar membership in good standing
• Project management experience
• Strong organizational, drafting and negotiation skills
• Strong work ethic and self-initiative, with the ability to manage a high volume of work in a fast-paced and changing environment
• Strong interpersonal skills with the ability to work well as part of a team with other lawyers, clients and other risk and business support partners

Desired Qualifications:

• Merchant services, payments, liquidity and/or receivables experience
• Significant contract negotiation experience; preferably in connection with merchant and cash management contracts
• Project management experience
• Privacy, Sanctions, ERISA and/or healthcare expertise, including HIPAA

Minimum Education Requirement: Juris Doctor

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540), US - NY - New York - 114 W 47TH ST (NY8114)

Pay and benefits information

Pay range$141,100.00 - $250,000.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.