Diversity is an advantage for everyone at BNY Mellon
“In serving our clients we can draw on a wealth of experience, viewpoints, perspectives and thinking,”
says the global head of talent strategy
After a corporate merger in 2007, BNY Mellon set out to implement diversity programs and initiatives for its more than 40,000 employees.
The reason was simple, says Sheena Wilson, global head of talent strategy. “We value our performance, teamwork, trust and client focus. Diversity and the innovation driven by a diverse employee population are fundamental to our corporate values and our overall performance.
“This commitment is important to our company’s culture, to each of us as individuals, and to our ability to serve our clients and grow our businesses.”
That commitment has been around for a while. Alexander Hamilton founded the Bank of New York, one of the predecessors of BNY Mellon, in 1784. The day the New York Stock Exchange first opened in 1792, BK (the company’s stock symbol) was the first to be traded. And in July 2007 the Bank of New York and Mellon Financial Corp merged.
Today BNY Mellon is a global financial services company helping clients manage and service their financial assets. It operates in thirty-four countries, serves more than a hundred markets, and is a leading provider of financial services for institutions, corporations and high-net-worth individuals through a worldwide client-
focused team. It has $22.4 trillion in assets under custody and administration, $1.1 trillion in assets under management, and processes global payments averaging $1.5 trillion a day.
Career opportunities for IT pros exist at BNY Mellon locations around the world. Jobs range from software development and enterprise-wide architecture to risk management, financial processing and new product innovation, Wilson says. IT openings are posted on bnymellon.com/careers.
The company has an active college relations program, including summer internships in the U.S. and Europe. It also has alliances with regional, national and international academic institutions including several HBCUs, the National Technical Institute for the Deaf, the Western Pennsylvania School for the Deaf, the Academy of Finance and professional organizations including the Association of Latino Professionals in Finance and Accounting, the National Black MBA Association, the Windsor Fellowship in the UK and the Human Rights Campaign.
BNY Mellon’s commitment to diversity and inclusion can be seen through its policies and programs and throughout the business, Wilson says. Company-wide and line-of-business diversity councils and work groups are found around the world, “accelerating the journey toward an inclusive environment.”
The diversity councils meet regularly, and four affinity networks center on women, LGBT employees, multicultural employees and employees with disabilities. Kurt Woetzel, the BNY Mellon vice-chair who leads the IT organization worldwide, is also executive sponsor of Impact, the affinity network for multicultural employees.
Wilson points to the Women’s Initiatives Network (WIN) as a good example of how employees work with the company to promote diversity. The group builds professional networks through mentoring, skills training, leadership development programs and education. WIN’s beginnings were modest, starting with a dozen senior women execs who became active members of the Women’s Bond Club of New York, the oldest women’s affinity group on Wall Street.
The twelve original members met monthly and went on to develop WIN as a forum to bring financially-oriented women together. This, they thought, would also help BNY Mellon attract and retain top talent.
Today WIN has forty chapters around the world and a membership of several thousand BNY Mellon employees, plus many other women and men who support its activities. Karen Peetz, senior exec VP and CEO of BNY Mellon’s financial markets and treasury services group, is the founder and chair of WIN and oversees the WIN steering committee. Chapters offer training and skills development programs for employees, and a formal one-year mentoring program.
BNY Mellon is happy to share its best practices in women’s affinity programming with other Fortune 500 companies. Last year U.S. Banker named the WIN steering committee one of the top three banking teams, as part of its annual “twenty-five most powerful women in banking” awards program.
Wilson notes that BNY Mellon has a global performance management program that includes activities to raise awareness and reinforce the importance of diversity and inclusion. The company gives out diversity champion awards three times a year.
Employees can also tap into Globesmart, a Web-based skill-building tool showing effective ways to conduct business with people from around the world.
Employees can get involved in their local communities via the company’s Community Partnership program; it includes two days of paid volunteer time a year and a company match for team volunteering or fundraising. BNY Mellon also has twenty-five regional partnership committees that work on local initiatives. Company employees have raised more than $12.8 million, including company matches, and 650 volunteer teams contributed nearly 26,000 hours of service in 2009.
U.S. offices offer flexible work arrangements, flexible benefits, childcare and eldercare help.
“Our diversity is really a tremendous advantage,” Wilson says. “It means that in serving our clients we are able to draw on a wealth of experience, viewpoints, perspectives and thinking. That’s good for us, good for our shareholders and clients, and great for all our employees.”
||New York, NY; additional global operations
||$7.7 billion in 2009