At BNY Mellon, diversity is a business imperative, including when managing risk. To protect our company, our clients and the financial markets, BNY Mellon is building diverse teams who Consider Everything and think through a wide variety of risks. In 2020, our Risk & Compliance team supported diverse talent at all levels of its organization through innovative development programs for its 1,300 employees — including the new Executive Development Program (EDP), new Cross Training Program and the Mentoring Program.
Following an extensive application and interview process in 2020, the first EDP cohort of 10 diverse, high-potential leaders participated in a series of events to kick off their year-long program. The cohort met with members of the BNY Mellon Executive Committee and Board of Directors and participated in educational coursework focused on 10 core leadership competencies. Throughout the year, the cohort is taking part in experiential learning, education and exposure opportunities. The program also provides parallel education to the Risk & Compliance Executive Leadership Team to strengthen their mindsets on diversity, equity and inclusion.
The Cross Training Program also launched in 2020, bringing together employees across Risk & Compliance to drive the organization’s 20 high-priority initiatives forward. More than 100 employees step outside their day-to-day work, learn something different, build new skills, collaborate with colleagues and gain exposure to senior leaders. This program broadens perspectives – 84% of participants believe the program expanded their knowledge of areas outside their day-to-day roles.
Risk & Compliance enhanced its Mentoring Program as well in 2020, coupling mentor matching with skills development workshops, peer coaching, a speaker series and development planning. The program enables mentees to take charge of their development and fosters a sense of inclusion and belonging. One mentee commented, “The Mentoring Program has provided an opportunity for me to expand my network across the company and bond with colleagues that I may not have otherwise interacted with.”
“I am inspired by the talent and determination of our employees in this past year of great challenge,” said Senthil Kumar, BNY Mellon’s Chief Risk Officer and leader of the Risk & Compliance organization. “Their dedication to our company, our clients and each other throughout the pandemic has been remarkable. They’ve significantly moved the needle on our priority initiatives in Risk & Compliance, and they’ve also invested in themselves through their enthusiastic participation in our development programs. The development programs are one set of tools we use to continuously evolve a culture of inclusion and belonging where all our employees have the opportunity to thrive."
In 2021, Risk & Compliance is focused on implementing specific goals and actions to attract, develop, advance and retain the best and brightest professionals with diverse perspectives, backgrounds and experiences. At BNY Mellon, we know that diverse perspectives can make a tremendous difference in how we manage risk, leading to the best business outcomes.