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.
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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
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 significant contract negotiation experience; which may be with law firm, internal counsel or contract management experience. Experience preferably with cash management contracts
- Active bar membership in good standing
- 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:
- Payments, liquidity and/or receivables experience
- Credit support negotiation experience/background (i.e. negotiating security agreements, guaranties)
- Project management experience
- Privacy, Sanctions, ERISA and/or healthcare expertise
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.