BNY Mellon is a leading Globally Significant Financial Institution. We provide Investment Management and Investment Services that help individuals and Institutions invest, conduct business and transact in markets all over the world. Headquartered in New York, BNY Mellon’s 52,900 employees are located in 36 countries and serve more than 100 markets. BNY Mellon has approximately $32.2 trillion in assets under custody and administration, and more than $1.8 trillion of assets under management. In addition, the Company is the world’s largest provider of Corporate Trust and Depositary Receipt services and a leading provider of Broker Dealer, Liquidity, Payment and Global Markets services. BNY Mellon ranks as the 7th largest global asset manager and 8th largest US wealth manager.
Asset Servicing is organized on two primary dimensions – Clients and Solutions. On the Solutions dimension, Asset Servicing is organized into six primary businesses – Custody, Accounting & Structured Products, Investor Solutions, Middle Office, Alternatives and Liquidity.
The Product Business Head, Global Accounting & Administration reports to the Head of Asset Servicing Business Solutions and drives product vision, strategy and road maps, product profitability and unit cost, and for driving the automation and efficiency agendas on a global basis with distinct P&L
· Create and maintain a strategic road-map for all Global Accounting & Administration capabilities (Institutional Accounting, Insurance Accounting, Fund Accounting, Regulatory and Administration product families) and drive the product life cycle from conception to development and delivery (Includes product pricing, automation/ technology prioritization, efficiency, resiliency, interbank SLA's, overall unit cost, quality and execution on the product strategy)
· Define the standard product offering providing an industry leading, flexible and comprehensive multi-client solution by critically analyzing, refining and documenting the requirements.
· Work with clients and client facing teams to deliver client driven solutions that are re-usable.
· Work with Head of Digital for driving the digital agenda for their business. Provides thought leadership that engages with client needs and generates interest in wider firm solutions
· Lead and drive a cross functional team to deliver the capabilities being built on the Bank’s platform
· Ensure the successful launch and rapid ongoing innovation in the space
· Has full P&L responsibility for the business globally. Fully responsible for product development strategy and execution end to end; leads prioritization and capital planning. Manages and leverages the financial growth and profitability of all products within the business.
· Maintains industry expertise, has knowledge of market trends, competitor offerings, and regulatory developments. Responsible for maintaining competitive capabilities across Products, Segments and regions at the most efficient unit costs. Industry representative of BNY Mellon at client and industry events, as agreed with regional and segment heads.
· Participant in non-standard contract negotiations. Has influence/power for all pricing requests in collaboration with Region and Segment Heads. Involved in BAC and provides content for RFPs as needed.
· Directs the efforts and priorities of Technology and Operations on behalf of the business.
· Product-specific issue resolution. Works with Service Directors, Product Specialists, Segment and Regional Heads, Technology and Operations to resolve escalated business issues.
· Manages business in accordance with applicable KRIs and risk assessment tolerances to ensure full compliance with all regulatory and internal risk requirements.
· Develops tracking and reporting methodology on results for the business. Develops and reports on function metrics and dashboards.
· Attracts, retains and motivates high quality talent (product specialists and others), maximizing their individual contribution, their professional growth and their ability to function effectively with their colleagues as a team.
A breadth of industry knowledge, significant product expertise, and client-segment insights will be the basis of experience that this individual holds, along with a deep appreciation of the role technology plays in this rapidly evolving industry. Managing and recognizing risks associated with the industry and products provided is critical. Qualified candidates must be able to create vision, drive execution and lead in an evolving industry while identifying long term objectives for the Asset Servicing business. The desired candidate should possess industry thought leadership and recognition, along with the ability to present the products in a way that resonates with stakeholders at all levels with whom they interact.
The successful candidate will be key to driving and supporting BNY Mellon’s Principle behaviors of:Client Focus in all we do; Commitment to excellence in delivering exceptional performance; accountability for delivering excellence and to have smart decision making. They will possess product expertise as a business leader in this high profile role and will be considered a trusted and senior advisor. The ability to set and influence direction, influence Leaders to execution will set this incumbent apart from its peers.
'Sets strategy and vision for the Product Management function for a business unit and has oversight of the full complement of products within a key segment. Drives product related strategies across a diverse combination of industry segments and global and domestic geographies. Accountable for the P&L and end to end running of the business globally. Sets the strategy and vision for the business and has full P&L accountability. Accountable for the complete complement of products across the segments served and responsible for capital planning. Manages and leverages the financial growth and profitability of all products within he business. Collaborates with Regional and Segment Heads on market, product, and client strategies. Maintains industry expertise, knowledge of market trends, competitor offerings and regulatory developments. Responsible for eficiently maintaining and enhancing competitive capabilities across products segments and regions in a cost effective manner. Represents BNY Mellon at client and industry events as agreed upon with regional and segment heads. Accountable for the end to end efficient running of the business globally and the execution of the global product strategy. This includes product roadmap, lifecycle, pricing, resiliency, interbank SLA's, overall unit cost, and quality. Directs and prioritizes the efforts of Technology and Operations on behalf of the business. Develops the tracking and reporting methodology including relevant metrics and dashboards. Partners with the Head of Digital in driving the digital agenda for the business. Provides thought leadership that engages with client needs and generates interest in wider firm solutions. Participates in non-standard contract negotiations. Provides input and has influence on all pricing requests in collaboration with Region and Segment heads. Involved in BAC and provides insight and context for complex RFP's as needed.Manages the business in accordance with applicable KRIs and risk assessment tolerances to ensure full compliance with all legal, regulatory and internal risk requirements. Partners with Service Directors, Product Specialists, Segment Heads, Regional Heads, Technology and Operations to resolve escalated business issues. Attracts, retains and motivates high quality talent, including product specialists and other key talent, maximizing their individual contribution, their professional growth and their ability to function effectively with their colleagues as a team.Manages multiple teams. Work is accomplished through subordinate managers.P&L accountability
The incumbent should have extensive experience at a leadership level, which would ideally have been spent within a large global matrix organisation, and should include experience driving results in multiple geographies and jurisdictions. This experience is likely to come from within Financial Services due to the depth of product knowledge required to be successful.
· Must possess strong presentation, negotiation, influence, emotional intelligence and communication skills to rapidly develop enterprise-level partnerships and rapport with client leaders to gain trust and confidence. Understanding of GSIFI/regulated FI market issues, industry wide Asset Servicing offerings, and the BNY Mellon value proposition and differentiation.
· Manage complexity and leading multiple projects with an unrelenting focus and prioritization
· Being a thoughtful communicator who can express complex ideas in simple, practical terms for a wide range audiences
· Bring a global mind-set and working across a diverse set of environments
· Have excellent analytical, conceptual, communication, presentation and networking skills
· Strong academics with a minimum Bachelor’s degree or the equivalent academics achieved.
Bachelor s degree or the equivalent combination of education and experience is required. Advanced/graduate degree preferred. 15+ years of total work experience with at least 5-7 years in management preferred; securities or financial services experience preferred. Applicable local/regional licenses or certifications as required by the business.'
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer.
Minorities/Females/Individuals With Disabilities/Protected Veterans.
Primary Location: United States-New York-New York
Internal Jobcode: 70719
Job: Asset Servicing
Organization: Asset Servicing Admin Groups-HR08979
Requisition Number: 1905193