As part of our “Meet the Team” series, we sat down with Doug Shulman, Chandresh Iyer, Jon Theuerkauf and Jeannette Osterhout for a roundtable discussion to hear their thoughts about the industry. In this first of three parts, the team talks about technology and the competition for talent. Some excerpts of our conversation are below.
On being a technology and service company with a balance sheet
Doug Shulman, Senior Executive Vice President and Global Head of Client Service Delivery: I often explain digital and what does it mean for BNY Mellon to be digital, which is we have seamless technology interface with our clients and so a lot of it is just computer to computer, but when it’s not, we have a great interface and it mirrors the experience they have in best-in-class technologies in their personal, and then once it comes into us, it actually flows through as automated as possible and then, again, when it’s not automated, our employees have great tools to get their job done. I think we have a great base to build off of and we have got a great client base, but that’s going to be the next evolution of our journey, is really perfecting that.
Chandresh Iyer, CEO of Alternative Investment Services and Structured Products: The connectivity with our clients really lends itself to thinking about technology in the context of a broader ecosystem. That is not just us and our different units, but our clients, their clients at some level, as well as many other providers that are bringing in innovative capabilities to the market and, frankly, some of the things that we’re doing from a NEXEN perspective addresses that and enables that transformation from a services company to a technology-enabled services company.
On how the competition for talent has changed over the last several years
Jon Theuerkauf, Managing Director and Group Head of Performance Excellence: When you move it down even to the floor level or you bring it down to the staff levels on the individual teams, we’re already seeing a shift. We need people who understand how to really deal with the new technologies, how do we give people that actually are going to be interfacing or working side by side with robots, as an example, how do we teach them actually how to build those robots themselves, so not everybody today may know how to do that, but in the future that’s going to be a requirement, because that technology is going to proliferate the entire organization and we’re going to have different tools and technologies. It’s also going to require managers to think differently as well. How do you manage a process that you're used to having 20 people and the 20 people did the manual work, but you're not having that as much anymore? It’s a combination of the smart technology operating at that layer along with the people doing the higher value work.
Jeannette Osterhout, Managing Director of Strategy and Planning: It’s not just about who comes in the door, but also how you train and cultivate new skillsets, so it can be curiosity and making sure that we’re always looking to improve and how can you take that curious nature and actually drive it to improve your processes or how can you take somebody who has a problem solving mind-set and help them nurture that and combine that with an understanding of the industry or an understanding of technology, so I really see our role as stewards of making sure we’re training folks.