Senior Counsel, BP Pension Fund

Travel required: Up to 10% travel should be expected with this role.

BP Pension Trustees Limited (‘the Trustee’ or ‘BPPTL’) is the corporate trustee that manages the BP Pension Fund (‘the Fund’), bp’s UK defined benefit pension fund. The Fund, with assets of c.£20bn and c.57,000 members, is one of the UK’s largest private sector pension funds. BP Investment Management Limited (‘BPIM’) is an FCA regulated entity which manages the Fund’s property and private equity portfolios.

Reporting to the Chief Operating Officer of BPPTL, the Senior Counsel will be responsible for providing legal, regulatory and compliance support to the Trustee Board, the Trustee Executive and BPIM. The role holder will:

• Provide a combination of strategic, practical legal, regulatory and compliance advice, while ensuring the risks and implications are clearly understood.
• Lead a small team of experienced lawyers, and the compliance function.
• Manage the Fund’s external legal counsel relationships and oversee work being provided by them.

Key Accountabilities:

• Provide effective sound and practical legal and regulatory advice to the Trustee and BPIM Boards and the Trustee Executive and BPIM teams, where relevant managing the delivery of advice from external advisers.
• Coordinate the delivery of general commercial and corporate queries as they arise, e.g. conflicts, legal delegations, directors’ duties, non-disclosure agreements, KYC/AML queries from third parties.
• Investment: Provide legal advice and support to Trustee Executive in negotiating key investment agreements; work with the BPIM private equity team to provide legal support as required; sign off on property litigation cases involving external counterparties and provide strategic legal advice on property-related matters.
• Compliance: Provide legal advice on corporate governance matters and other issues for example including ESG and climate; oversee work to implement and continue daily review of Senior Manager Certification Regime requirements, including regular training and supporting Compliance function with ongoing regulatory support.
• Support the legal team on pension litigation / TPO matters, providing strategic advice on next steps and resolution.
• Supervise work of the legal team on contracting with third-party advisers and suppliers, including consistency with wider bp position on negotiating terms (where relevant).
• Build external pensions legal networks to reflect the best ways of working in the way the Fund operates. Also build a strong network with bp Group Legal to make use of relevant knowledge and working practices.

Candidate requirements:

• Qualified to degree level with appropriate legal qualification and a valid and up to date UK practising certificate or equivalent.
• Minimum 15 years PQE either in-house (corporate and/or DB pension scheme) and/or in a Magic Circle/Silver Circle firm.
• Senior trusted legal adviser, able to work with key colleagues 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.
• Comfortable working autonomously. Able to appropriately assess the need for external counsel and to choose the appropriate law firm, applying strong budget management.
• Excellent verbal, written communication and interpersonal skills, with the ability to communicate in practical succinct terms.
• Strong negotiation skills.
• Experience of working with regulators as the need arises.
• Track record of taking a proactive, energetic and collaborative approach to provision of legal support.
• Strong leader and great teammate, showing both diplomacy and flexibility.
• Demonstrates bp’s values, particularly the courage to speak up.

Why join us?

At bp, we provide an excellent working environment and employee benefits! We offer an open and inclusive culture and a great work-life balance. Tremendous learning and development opportunities are available to craft a career path, life and health insurance, medical care package and many others! We support our people to learn and grow in a diverse and exciting environment. We believe that our team is strengthened by diversity. We are committed to crafting an inclusive environment in which everyone is respected and treated fairly. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform crucial job functions, and receive other benefits and privileges of employment.