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- Tasks: Lead legal strategy for one of the UK's largest pension funds and manage a talented team.
- Company: Join BP Pension Trustees Limited, a key player in the pension fund industry.
- Benefits: Enjoy competitive pay, bonuses, flexible benefits, and a supportive work environment.
- Why this job: Make a real impact in a strategic leadership role with significant influence.
- Qualifications: Senior lawyer with experience in advising large defined benefit pension schemes.
- Other info: Hybrid working model with opportunities for professional growth and development.
The predicted salary is between 43200 - 72000 £ per year.
BP Pension Trustees Limited (‘the Trustee’ or ‘BPPTL’) is the trustee of the BP Pension Fund (‘the Fund’), bp’s UK defined benefit pension fund. Notwithstanding its closure to accrual in 2021, the Fund is one of the UK’s largest private sector occupational pension schemes, with assets of c.£18bn and c.54,000 members. BP Investment Management Limited (‘BPIM’) is an FCA regulated entity which manages the Fund’s property and private equity portfolios.
BP Pension Trustees Limited is seeking a senior pensions lawyer to join its leadership team as the most senior legal adviser to the Trustee of the BP Pension Fund. Reporting to the Chief Executive Officer of BPPTL, the role holder will be a member of the Trustee’s leadership team with wide-ranging responsibility for providing legal, regulatory and compliance support across the Trustee’s organisation, in particular to the Trustee Board, the Trustee Executive and BPIM.
This is a rare opportunity for an experienced pensions lawyer from private practice or an in-house environment to move into a strategic leadership role at the heart of a major institutional pension fund. The role combines senior legal advisory responsibilities with team leadership and strategic governance oversight, working closely with the Trustee Board and executive leadership to shape legal strategy, oversee complex investment and regulatory matters, and ensure the Fund continues to operate with strong governance and compliance in a highly regulated environment.
For lawyers with deep expertise in defined benefit pensions and a track record advising large schemes, the role offers the opportunity to apply that experience in a position with real influence, collaborating with experienced investment, actuarial, technical and operational professionals while helping steward one of the UK’s most significant pension funds.
Role Accountabilities:
- Provide a combination of strategic, practical legal, regulatory and compliance advice, while ensuring the risks and implications are clearly understood.
- Lead a team of five comprised of experienced lawyers, compliance and company secretariat personnel.
- Manage the Fund’s external legal counsel relationships and oversee work being provided by them.
- Oversee and contribute on challenging pension industry matters, while collaborating with an in-house team of investment, actuarial, technical, administration and communications professionals.
- Provide effective sound and practical legal and regulatory advice to the Trustee and BPIM Boards and the Trustee Executive and BPIM teams, including managing the delivery of advice from external legal advisers (where relevant).
- Oversee the provision of investment-related legal advice and support from the investment specialist (including external legal advice and support as appropriate) to the Trustee Executive in negotiating key investment agreements, the BPIM private equity team as required, and the BPIM property team, including sign off on property litigation cases involving external counterparties.
- Provide legal advice on corporate governance matters and other issues for example including ESG and climate.
- Oversee work of the FCA compliance specialist to implement and continue daily review of Senior Manager and Certification Regime requirements, including regular training and supporting the Compliance function with ongoing regulatory support.
- Support the legal team with its delivery of effective, timely and pragmatic assistance to the Trustee, the Trustee’s relevant sub-committees, and panels, BPIM and the Trustee’s in-house administration function (as applicable) in relation to managing and responding to complaints and contentious matters, providing strategic advice on next steps and resolution, contracting with third-party advisers and suppliers, changes in relevant legislation and/or the regulatory environments, and material internal projects and innovations.
- Lead and support the team, creating and managing development opportunities, helping to build enduring capability.
- Build external pensions legal networks, both personally and for their team to maintain and foster industry leading practice for the Fund’s operations.
- Build and maintain good working relationships and networks with the legal function and other stakeholders in bp group, while at all times taking into account the separate interests and duties of the Trustee. Leverage, as appropriate, relevant knowhow and good working practices.
Required Skills & Experience:
- Senior private practice or in-house lawyer with proven track record of advising £1bn+ DB pension schemes.
- An ability to be a senior trusted legal adviser to the Trustee and BPIM.
- Work with key stakeholders to identify, assess, prioritise and manage legal issues and to advise clients from a commercial perspective, including developing proposals defining and mitigating risk, ensuring legal compliance and provision of robust strategic and commercial practical advice.
- Work with a high degree of autonomy.
- Assess appropriately the need for external counsel and to choose the appropriate law firm, applying strong budget and delivery management.
- Excellent verbal, written communication and interpersonal skills, with the ability to communicate in practical succinct terms.
- Strong negotiation skills and commercial judgement.
- Experience of working with relevant regulators and ombudsmen as the need arises.
- A track record of taking a proactive, energetic and collaborative approach to the provision of legal support.
- A strong leader and team player, showing diplomacy, flexibility and pragmatism.
- Alignment with bp values, particularly the courage to speak up.
Why Join Us?
We’re committed to supporting leaders who want to make an impact. You’ll have the chance to shape and influence outcomes across businesses. You’ll be part of an inclusive environment where diverse perspectives are valued, and where your contribution to performance and integration matters. We invest in the growth and wellbeing of our people, providing the resources, networks, and development opportunities needed to thrive. Our total rewards package includes competitive pay, bonuses, share options, and a range of flexible benefits designed to meet your needs — from healthcare and retirement plans to paid time off and agile working. We recognise that people have multifaceted lives, and we strive to offer a career experience that reflects that.
Travel Requirement: Negligible travel should be expected with this role.
Relocation Assistance: This role is not eligible for relocation.
Remote Type: This position is a hybrid of office/remote working.
Managing Counsel, UK Pension Fund in London employer: BP Energy
Contact Detail:
BP Energy Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Managing Counsel, UK Pension Fund in London
✨Tip Number 1
Network like a pro! Reach out to your connections in the pensions and legal sectors. Attend industry events or webinars, and don’t be shy about introducing yourself. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching BP Pension Trustees Limited and understanding their challenges. Think about how your experience aligns with their needs, especially in managing complex regulatory matters. Show them you’re not just another candidate; you’re the one they need!
✨Tip Number 3
Practice your pitch! Be ready to explain your background and how it relates to the role of Managing Counsel. Keep it concise but impactful—highlight your leadership skills and experience with large pension schemes. Confidence is key!
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who take the initiative to engage directly with us. Let’s make this happen together!
We think you need these skills to ace Managing Counsel, UK Pension Fund in London
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter to highlight your experience in pensions law, especially with defined benefit schemes. We want to see how your background aligns with the role of Managing Counsel at BP Pension Trustees Limited.
Showcase Your Leadership Skills: Since this role involves leading a team, don’t forget to mention your leadership experiences. Share examples of how you've successfully managed teams or projects in the past, as we’re looking for someone who can inspire and guide others.
Be Clear and Concise: When writing your application, keep it straightforward and to the point. Use clear language to convey your legal expertise and how you can provide practical advice to the Trustee and BPIM Boards. We appreciate brevity and clarity!
Apply Through Our Website: We encourage you to submit your application through our website. It’s the best way for us to receive your details and ensures you’re considered for the role. Plus, it’s super easy to do!
How to prepare for a job interview at BP Energy
✨Know Your Pensions Inside Out
Make sure you brush up on your knowledge of defined benefit pension schemes, especially those with assets over £1bn. Familiarise yourself with the latest regulatory changes and how they impact governance and compliance. This will show that you're not just a legal expert but also someone who understands the intricacies of the pension landscape.
✨Demonstrate Leadership Skills
As a senior role, they’ll be looking for evidence of your leadership capabilities. Prepare examples of how you've led teams or projects in the past, particularly in high-pressure situations. Highlight your ability to mentor others and build strong relationships within a team, as this is crucial for the role.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving skills and judgement. Think about complex legal issues you've navigated in the past and be ready to discuss your thought process. Use the STAR method (Situation, Task, Action, Result) to structure your answers clearly and effectively.
✨Showcase Your Communication Skills
Strong verbal and written communication skills are essential for this role. Practice articulating complex legal concepts in simple terms, as you’ll need to advise non-legal stakeholders. Consider preparing a brief presentation on a relevant topic to demonstrate your ability to communicate effectively and engage your audience.