Michael Barrett, '16

When you imagine the banking industry in New York, chances are you do not picture the finals round of a global innovation competition that is being broadcasted around the world—one where teams vie for sponsorships and cash prizes by pitching new ideas to the bank’s most senior staff members.

This scenario might sound more like Shark Tank or American Idol than an employee competition, but it is the scene into which Michael Barrett, ’16, stepped during his internship on the Global Innovation team at the Bank of New York Mellon. Barrett, a leadership studies and business administration double major, was responsible for ensuring the successful promotion and completion of the BNY Mellon annual A.C.E. innovation competition and sharing the bank’s story of innovation.

“If you try to categorize my day-to-day projects,” said Barrett, “I am sure you will be as surprised as I am to see that my overarching role this summer in a banking environment strays from your more clear-cut financial analyst, accountant, or invest banker jobs. In fact, most of my responsibilities point to a role that presumably has nothing to do with financial servicing at all—a storyteller.”

This role may not be a stereotypical banking position and might be unexpected for a student with a concentration in economics, but Barrett discussed how the Bank’s emphasis on innovation was what initially attracted him to the internship.

“The future remains unpredictable, yet that is exactly where innovation emerges. It is a means of forging prospects that transcend traditional and often obsolete thought. Because why not work for an organization that is moving towards a more visionary perspective to drive change and gain an edge over competition while I begin my journey for the future?” said Barrett.

As a storyteller for the bank, Barrett critically examined the bank’s history in order to understand its future. One of the challenges to maintaining the bank’s innovation is its size. BNY Mellon is comprised of more than 50,000 employees, so effectively communicating the bank’s roots was essential. To create this narrative, Barrett applied lessons from Dr. Joanne Ciulla’s Critical Thinking and Methods of Inquiry class.

“Throughout the course, we focused on how today’s information age forces careful analysis of all the ideas, arguments, and assertions diffused across different channels of communication,” he explained. “And on the flip side, we delved into the nuances of creating persuasive arguments. The latter applies best to my role at BNY Mellon since the underlying strategy of the Global Innovation team rests on building employee rapport around our company vision for the future that addresses current challenges and capitalizes on opportunities in the marketplace.”

In this unique role, Barrett gained a deeper understanding of the entire industry, stronger communications skills, and ample contacts from the bank’s businesses. Yet possibly Barrett’s most influential takeaway from this opportunity was his greater sense of self.

“So, I have gained valuable insight into BNY Mellon’s unique role in the financial services industry through the GCM environment; however, learning about myself emerges within a slightly more introspective route—specifically, where my personal responsibilities have allowed me to make an impression on my team and the company and whether I am actually having fun,” reflected Barrett.

As he begins his career search, Barrett now knows that he does not want a typical office desk job but wants to find an environment that fosters his creative and entrepreneurial ambitions.