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6 Apr 2023

Full-Time Director of Bank Custody Solutions

BNY Mellon – Posted by BNY Jersey City, New Jersey, United States

Job Description

About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of Dec. 31, 2021, BNY Mellon had $46.7 trillion in assets under custody and/or administration, and $2.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
Background
BNY Mellon’s Pershing is a leading provider of clearing and custody services that is uniquely positioned to help complex financial services firms transform their businesses, drive growth, maximize efficiency, and manage risk and regulation. Wealth management and institutional firms outsource to Pershing for trading and settlement services, investment solutions, bank and brokerage custody, middle and back-office support, data insights, and business consulting. Pershing brings together high-touch service, an open digital platform and the BNY Mellon enterprise to deliver a differentiated experience for every client.
Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. With offices around the world, Pershing has over $2 trillion in assets and millions of investor accounts. Pershing affiliates include Albridge Solutions, Inc., Lockwood Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940, and Pershing Limited. Additional information is available on pershing.com or follow us on LinkedIn or Twitter @Pershing.
Responsibilities
  • Lead the development of the Bank Custody Solutions strategy in partnership with Pershing’s Wealth Solutions client team
  • Manage the financial performance of the bank custody solutions products, including accountability for meeting revenue, expense and profitability goals Maximize profitable growth of bank custody while fostering enhanced profitability for the other business lines through partnership and cross-referrals.
  • Prepare and manage the product strategy roadmap for prioritization of key development areas focusing on delivering industry leading functionality, increasing operational efficiency, reducing process variation, and improving customer experience.
  • Monitor competitive landscape; industry and regulatory changes and inform the product development roadmap
  • Support the development of ongoing training programs to further educate internal resources about the bank custody platform and fiduciary processing differences between bank and brokerage.
  • Partner with the business development to align sales efforts to deliver revenue growth
  • Lead and support ongoing development of marketing initiatives to support growth of the platform. Lead and develop the marketing strategy efforts to promote the various product offerings.
  • Partner with Wealth Solutions to establish policies and standards for client service to ensure client satisfaction and retention
  • Interface with different lines of businesses as an advocate for bank custody clients to ensure parity of solutions, processes, and development of the platform, building of trust inside the organization and with key external partners.
  • Develop key performance indicators, determine gaps in performance metrics, and drive change management techniques for quality improvements that align with business strategy.
  • Exercise executive and administrative leadership over functions that support and impact bank custody, including participation in the budget process, development/implementation of policies and explanation of organization programs and objectives.
  • Interact directly with clients, to identify their needs, ensure customers have the support needed to best avail themselves of the organization’s services.
  • Nurture and maintain consistent communication lines with leading regulators for business segment
Position Qualifications
  • Education & Experience15 to 20+ years of personal trust industry experience, preferably in a bank trust environment within a large complex trust organization or trust technology organization
  • Knowledge of industry trends, technology within the Bank / Trust and Wealth Management segment
  • Proven track record of leading and partnering in a multi-business line environment
  • Broad exposure across wealth management products, commercial segments, and delivery channels, including:Personal Trust vs. Institutional Trust
  • Family Office
  • Investment Management within a Trust Organization (SMA, UMA, MF Wrap)
  • Trust & Estate Services
  • Endowment, Foundation
  • Tax Servicing and Reporting
  • Regulatory Reporting and Compliance
  • Experience managing trust technology conversion / migration efforts for or within a Bank / Trust Organization
Knowledge & Skills
  • Strategic thinker with problem-solving aptitude able to work in a consultative manner with clients to deliver beyond expectations
  • Excellent written and verbal communication skills.
  • Superior interpersonal skills; comfort with ambiguity
  • Ability to exercise confidentiality with sensitive information and exercise good judgment in decision making
  • Assertiveness to make and support decisions based on bank policies and operating procedures.
  • Extensive knowledge of Microsoft Office to include Excel, Word and PowerPoint.
  • Ability to foster teamwork and motivate employees.
  • Capacity to work with demanding clients and diverse groups of people.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals with Disabilities/Protected Veterans. Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.
BNY Mellon assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $119,000 and $260,000 per year at the commencement of employment. However, base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNYM total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs.
This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans.
Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.
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Job Types: Full-Time. Salaries: Less than 20,000.

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