Unbelievable how bad the technology is at this company. Absolutely abysmal. When you work for BNYM and you look at the microscopic details regarding how technology is deployed and implemented, you quickly begin to understand the magnitude of the lack of education and understanding by the people deploying it, using it, and evaluating it. The company spends millions of dollars on technology every year because they so badly want to give the impression that BNYM is a leading advanced technology company. But the truth is that BNYM is trying to play catch up to the rest of the financial industry after all the years of technological neglect by Suresh Kumar and folks from that old regime. For years and years, BNYM failed to keep technology assets refreshed and current with up to the date hardware and software. As a result, Bridget had to implement a program Greenfield to address it. This program has been ongoing for years now and it can best be described as an endless money pit. The company just throws millions and millions of dollars at greenfield, and the technology progresses at a snails pace at best. By the time the company reaches its technology goals, it will be time to start over and do it all again because it will all be outdated. Also, the company has no concept of business efficiency, or streamlining procedures or processes. The company also has no idea on how to fairly rate its employees based on the quality of work accomplished. The company has so many layers of management that it can not set effective and meaningful goals internally. Also human resources is ineffective at keeping law and order throughout the company, and so managers are run amok. They make their own rules and policies about what goes on in their dept, and they run the depts independently of the rest of the company. When you work for BNYM, you don't work for the organization, you work for the manager who runs your dept who does whatever the hell he or she wants. There are very few company wide standards that govern management policies, corporate behavior, or corporate ethics.
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I wonder how effective that spaceship control on the 15th floor that cost millions and hundreds of jobs has been while we are all working from home. Must be nice watching Netflix on those screens.
@2ipb+14qdAB8H - No lay-off! Yes, we all got that, but how can you be so d-mb not knowing what’s going around? If they can bring Hungry gho-ts from Pune and Chennai, then situation here would have been dire.
You know these kids from these two location thinks BNY belong to them!
BNYM is not a world class technology organization. The biggest problem is rolling out duplicative systems and failing to retire the lesser options and obsolete solutions. For example, In the collaboration space alone there are 6 major balkanized systems spanning 5 decades back to Lotus (now IBM) Notes. 4 of these systems are under 3 years old. It is easy to turn things on when data migration is skipped.
BNYM has a world class technology organization.
This is hilarious. Spoken like someone in middle management who's never worked in tech at another company before.
The only positive I can say about BNYM is their remote work infrastructure. App dev wise, it's a complete nightmare.
I have to disagree. From a core infrastructure standpoint, BNYM was ready to run the business while something like 85% of employees worked remotely. Sure, they had to deploy a ton of laptops and build a lot of VDS instances, but building the core infrastructure is the hard part.
Sure, we have some antiquated systems. Most financial institutions do. We keep them around because they're solid and reliable.
Despite the bureaucracy, BNYM has a world class technology organization.
Interesting story 14qdAB8H. Unfortunately it's 100% incorrect. The merger was engineered by Robert Kelly, Mellon Bank CEO, so that he could become the CEO of the larger bank. It was agreed in December, 2006 well before the financial crisis was on anyone's mind. It was completed July, 2007, a year before Lehman Brothers collapsed.
So you really think that your job is safe in this new coronavirus economy just because BNYM says “no more layoffs?” Do you really think that an upcoming global recession won’t affect your job? I remind you that BNYM exists because of the last financial crisis when The Bank of New York acquired Mellon Bank in a hostile takeover to save itself from becoming the next Lehman Brothers. What do you think will happen in this new financial crisis? Do you think you’ll still have a job after BNYM is forced to merge or be acquired by another organization? You are simply a fool to think that your job is safe just because BNYM says “No More Layoffs in 2020.” BNYM is foolish to think that they actually have control of deciding that there will be no more layoffs. BNYM doesn’t make that decision, the virus makes that decision.
Yah big no layoffs for thd rest of 2020 so STFU or quit and go elsewhere. Maybe join Charlie or something
but tell me how you really feel
On a positive note, the bagels in the cafeteria are nice and fresh! (well, usually)