Director, Clearing Product Manager

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, Clearing Product Manager to join our Global Markets team. This role is located in New York, NY or Boston, MA - HYBRID

In this role, you'll make an impact in the following ways:

• Leads product management and development for the "Done Away" service from early stage through launch and on-going business management.
• Analyzes complex client requirements and drives solution functionality that may include more than one technology.
• Must understand the economics behind treasury repo sponsorship and clearing, while demonstrating business acumen.
• Responsible for crafting the strategies behind product development and delivery.
• Must have market knowledge to integrate the demands of various regions and stay ahead of competitors.
• Is directly responsible for product profitability across what would become a range of large, complex, global clients.
• Ensures Operations, Technology, Risk, Compliance, Legal, etc. team concerns are addressed during the product development, enhancement, delivery, strategy, and planning processes.
• Employs a client-focused, strategic approach to develop the business case for firm offerings in the marketplace through in-depth and complex analyses on client segments, competitive landscape and industry environment.
• Demonstrates in-depth and comprehensive knowledge of associated features of the offering, the marketplace and client needs to drive product growth/development and maximize profitability.
• Seen as a firm expert on the product and act as champion of the product articulating the strategic importance to the firm.
• Creates product management roadmap and establishes evaluation criteria and success metrics.
• Oversees pricing, promotion, distribution strategies and competitive differentiators.
• Positions the product for specific client segments, highlighting key benefits and competitive advantages.
• Works with sales and relationship management teams to support sales efforts and close on deals as needed.
• Provides guidance to less experienced colleagues as needed.

To be successful in this role, we're seeking the following:

• Bachelors degree or the equivalent combination of education and experience is required. Advanced/graduate degree preferred.
• 10-12 years of applicable work experience at a senior level in repo trading, clearing, or other related aspects of institutional financing transactions
• In depth knowledge of FICC clearing industry landscape including client types and industry utilities
• Experience in Product Management, operations, client management preferred.
• MBA or CFA preferred but not required.
• In depth knowledge of UST repo trading and clearing preferred
• In depth knowledge of FICC operations data flows, with knowledge of other CCPs (i.e. CME and ICE) a plus
• Understanding of the SEC clearing regulations preferred
• In depth knowledge of revenue buy side and sell side revenue drivers and considerations related to treasury repo trading and clearing preferred
• Ability to work across IT, operations, other business, vendors and clients at all levels

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 assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $147,000 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 BNY 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.