Ask any two teams to solve the same thorny issue, and you’re likely to get two different solutions. But, ask a third team that’s deliberately composed of folks from different generations, genders and backgrounds, and they’re far more likely to devise a novel approach. That’s the thinking behind the Shadow Executive Committee program of our UK-based legal entity BNY Mellon (International) Ltd. Now in its second year, the program was launched in concert with GENEDGE, our intergenerational Employee Resource Group.
Recognizing that great minds can think differently — especially minds from different generations — our UK Bank recruits high potential, mid- to senior-level professionals to act as a shadow Executive Committee. For 6 months, a cohort of employees representing relevant businesses and functions that mirror the UK Bank, collaborates to analyze and debate major initiatives, receiving the same supporting materials as the UK Bank Executive Committee. Each month, the team presents a succinct and eloquent one-page summary of its recommendations on a particular issue to the UK Bank Executive Committee. To date, teams have weighed in on the bank strategy, financials and CEO and chief administrator officer reports.
For Millennials and mid-career professionals, the experience offers exposure to senior leadership, an understanding of good corporate governance and the opportunity to expand their network across the organization. By tackling problems outside their usual job description, participants are pushed to adopt a broader, analytical view, debating and deciding on key topics that deepen their awareness of how their business or function fits into the wider entity, and what it takes to run a bank.
As a Future First bank, we know how vital it is to engage and equip the future leaders of our organization. As they interact with senior executives and see their input welcomed, these professionals help us remain competitive in an increasingly disrupted digital marketplace. Following the success of the UK Bank Shadow Exco, the program has now launched across two additional entities: EMEA Pershing and BNY Mellon’s European Bank.
The below is a Word Cloud which includes comments from the 2020 UK Bank Shadow ExCo, on their experience 4 months into the program.