Senior Specialist, Business Development
- New York, NY, USA
- Permanent, Full time
- BNY Mellon Investment Management
- 19 Apr 19
Senior Specialist, Business Development
BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers. Our business encompasses BNY Mellon's affiliated investment management firms, wealth management organization, and global distribution companies. Our goal is to build and deliver investment and wealth management strategies and solutions to meet our clients' needs. Drawing on deep expertise, we collaborate with our clients to tailor our best ideas and resources to meet their specific requirements. Through our global network we have developed a significant understanding of local requirements. We pride ourselves on providing dedicated service through our teams. With extensive experience in anticipating and responding to the investment and financial needs of the world's governments, pension plan sponsors, corporations, foundations, endowments planned giving programs, advisors, intermediaries, individuals and families, and family offices, BNY Mellon Investment Management can help our clients reach their goals.
The North America Distribution Team of BNY Mellon Investment Management focuses on connecting with and providing a wide range of solutions for the complex needs of clients, through registered investment advisors, family office representatives and bank trust officers.
The Senior Specialist, Business Development will have business development & relationship management responsibilities for both RIA Custodians and TAMPs. Independently evaluates and pursues new business opportunities and client prospects, focusing on responsible business growth that is compliant, of acceptable risk and profitable. Serves in a consultative role to prospects, advising leadership on the best way to achieve their short- and long- term strategic objectives through the firms solutions. Pursues small to moderately-sized prospects of limited complexity with standard product needs. Prospects could be advisors, individuals or institutions. In some cases at this level, incumbents follow leads that come in to the organization, versus generating leads themselves. May assist a more senior Business Development colleague on large or complex accounts to gain breadth/depth of knowledge. May also pursue advantageous strategic partnerships with third parties in order to better respond to prospects needs. For some areas of the Bank, may be responsible for achieving organic incremental growth from existing clients.
- Locates potential prospects through in-depth industry research and an understanding of the market environment, including short- and long-term trends, competitor offerings, regulatory developments etc. For some business units, leads may originate from direct inquiries from prospects. Prospect contacts could be advisors/individuals or institutional leaders.
- Screens and evaluates prospects by analyzing market strategies, deal requirements, growth potential, financials and internal firm priorities.
- Consults with prospects on their strategic vision and applies an understanding of the firms solutions and value proposition to help them achieve that vision. Within standards/limits established by BD leaders, develops a negotiation strategy and position to align prospect needs to firm offerings.
- Closes new prospects by structuring deals (pricing, contract terms, etc.) that achieve optimal terms for both the client and the firm within assigned parameters. Ensures deals and related activities are compliant with all regulations. Follows up with firm-wide resources (marketing, legal, compliance, etc.) to gather needed information required to finalize a proposal/deal.
- Work closely with related teams (RMs, AMs, CSD) and other firm-wide resources (marketing, legal, compliance, etc.) to ensure all risk management/compliance activities relevant to business development activities are conducted and captured.
- Tracks and reports on business development results for assigned area (geographic, business/industry category, product category, etc.)
- May have people management responsibilities in some geographies. Provides guidance to less experienced Business Development roles as needed.
- Responsible for business development within assigned area (geographic territory, product category, business/industry category/segment, etc.). Typically pursues small to moderately-sized prospects with limited complexity. For some areas of the Bank, may be responsible for achieving organic incremental growth from existing clients.
- Bachelor's degree or the equivalent combination of education and experience is required. Advanced/graduate degree preferred.
- 5-7 years of total work experience preferred. Financial Services experience with a particular client type or product (Hedge, Pension, etc.) preferred as is prior experience in a related customer-facing role, Sales Support, Global Capital Markets or Product Management.
- Applicable local/regional licenses or certifications as required by the business.
- A good understanding of the relevant marketplace, competitive landscape and industry drivers in the relevant region is preferred.
- As global firm, bi-lingual capabilities are helpful as is an understanding of local/cultural nuances important for client trust.
- Strong investment background on a wide variety of topics including equities, fixed income, alternatives, mutual funds, ETFs, separate accounts, multi asset solutions and limited partnerships.
- Strong presentation skills and the ability to partner with clients and internal partners.
- Strong understanding of the operational requirements required for Mutual Fund onboarding and SMA / UMA development.
- Familiarity and relationships with contracts, custodians, RIAs, and TAMPs.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer.
Minorities/Females/Individuals With Disabilities/Protected Veterans.
Primary Location: United States-New York-New York
Internal Jobcode: 70022
Job: Asset Management
Organization: North America Distribution-HR11430
Requisition Number: 1901859