At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000+ employees bring the power of their perspective to the table to create solutions with our clients that benefit businesses, communities and people everywhere.
We continue to be a leader in the industry, awarded as a top home for innovators and for creating an inclusive workplace. Through our unique ideas and talents, together we help make money work for the world. This is what #LifeAtBNY is all about.
We’re seeking a future team member for the role of Director, Product Development - Retail Alternative Funds (BDCs) to join our Alternatives Product Team within Asset Servicing. This role is located in New York City, NY – Hybrid work schedule.
Alternatives is a Product within Asset Servicing that helps clients across hedge funds, private equity, credit and real estate grow and optimize their businesses for success. The primary product set is focused on investor servicing, accounting, custody and administration. Increasingly the Alternatives business is helping clients that are launching funds as Business Development Companies (BDC) and other fund structures to attract more retail investors. We are looking to expand our team by adding a Product Manager specially focused on BDCs.
In this role, you’ll make an impact in the following ways:
Business
- Own the vision, execution, measurement, and outcomes for our product set across Fund Administration for Retail Alternatives, including BDCs (Business Development Corporation),
- Oversees strategy design behind product development and delivery for Fund Administration
- Define the product vision based on wide ranging inputs from clients, markets and desired commercial outcomes as it relates to the investor experience
- Consider the required operating model and path to implementation to realize the product roadmap
- Own business outcomes, with clear articulation of the business value and impact
- Engage directly with clients to understand expectations
- Ensures strategies align with departmental priorities and annual plan.
- Express outcomes and priorities on a product roadmap that articulates progress of the product over time
- Expect to use data to make, justify and measure investment decisions
- Think horizontally across the entire Alternatives client base to find commonality with clients in private and liquid markets
- Have a mindset of business ownership and end to end execution collaborating closely with Operations and Technology
- Evaluate the product at each sprint to ensure client and firm commitments are met in terms of quality, controls and ability to scale
- Assess and keep pace with market trends and competitors
Team and Personal Skills
- Bring enthusiasm, drive and energy to the product development process
- Expect to work in a rapid, high paced environment with ambiguity and uncertainty
- Leverages strong market knowledge to integrate the demands of various regions and stay ahead of competitors. Is directly responsible for team's performance and profitability.
- Interacts directly with key leaders across the business and external customers to negotiate and market BNY Mellon's offerings. Seen as a firm expert on multiple products and product portfolios that are of strategic importance to the firm.
- Takes an active role in the development and coaching of team members
- Provides guidance to less experienced colleagues as needed. Leads others on project teams and assists management to operationalize functional or business objectives.
- Contributes to the achievement of functional objectives.
To be successful in this role, we’re seeking the following:
- Bachelor’s degree or the equivalent combination of education and experience is required. Advanced/graduate degree preferred.
- 10+ years of total work experience preferred.
- Experience in Business Development Companies, in an operations, product, technology or related role is required.
Experience in Tender Offer, Interval or Retail Alternative is strongly preferred.
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At BNY, our culture speaks for itself. Here’s a few of our awards:
- America’s Most Innovative Companies, Fortune, 2024
- World’s Most Admired Companies, Fortune 2024
· Human Rights Campaign Foundation, Corporate Equality Index, 100% score, 2023-2024 · Best Places to Work for Disability Inclusion, Disability: IN – 100% score, 2023-2024
- “Most Just Companies”, Just Capital and CNBC, 2024
- Dow Jones Sustainability Indices, Top performing company for Sustainability, 2024
- Bloomberg’s Gender Equality Index (GEI), 2023
Our Benefits and Rewards:
BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life’s journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.
BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.
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 $125,000 and $273,000 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.